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North America Medical Wellness Devices Market To Clock A CAGR Of 7.3% From 2021-2031

July 29th, 2021 Persistence Market Research Releases

The North America Medical Wellness Devices Market Share is expected to be worth US$ 29.5 Bn between 2021-2031 at a CAGR of 7.3%. It is a foregone conclusion that healthcare will remain the epicenter of economic as well as political discourse every time. With technology making inroads across the vertical, the geographical barriers between doctors and patients have become a thing of the past. Real-time medical intervention has been doing the rounds and the status quo is expected to remain the same even in the upcoming period.

Medical wellness devices such as thermometers, blood pressure monitors, oximeters, diabetes monitors, sleep trackers, and smart watches are important devices that are very helpful in monitoring the health condition of patients. Devices such as braces, orthotics, and those for mobility care are helpful for serious injuries or dysfunction / disability of any body part.

With consumer awareness regarding these devices increasing, the market is expected to witness high growth. As the number of people with heart diseases, blood pressure, injuries, and accidents is increasing year on year at 10% growth rate, the need for medical wellness devices is rising faster than before.

According to a new report published by Persistence Market Research, the North America medical wellness devices market was valued at US$ 29.5 Bn in 2020, and is predicted to expand at a CAGR of more than 7% over the forecast period (2021–2031).

Get Sample Copy of this Report @ https://www.persistencemarketresearch.com/samples/32486

Company profiles:

  • Abbott
  • DexCom, Inc.
  • Medtronic plc
  • LifeScan, Inc.
  • Hoffmann-La Roche AG
  • Ascensia Diabetes Care US Inc.
  • Tandem Diabetes Care
  • Omron Healthcare USA
  • Dr Trust USA
  • A&D Company, Limited
  • Masimo Corporation
  • DeVilbiss Healthcare
  • Beurer
  • Koninklijke Philips N.V.,
  • Fitbit, Inc.
  • Garmin Ltd
  • Fossil Group, Inc.
  • Withings
  • Oura
  • SLEEPON
  • BSN Medical
  • De royal Industries, Inc.
  • Prime Medical
  • Patterson Medical, Inc.
  • ÖssurHf
  • DJO, LLC
  • Zimmer Biomet Holdings, Inc
  • Otto Bock Holding GmbH& Co
  • 3M Company
  • Verilux, Inc.,
  • Northern Light Technology
  • Nature Bright

Request for Methodology @ https://www.persistencemarketresearch.com/methodology/32486

Key Takeaways from Market Study

  • The thermometers segment is expected to grow at a fast rate of 10% CAGR, due to their multiple applications such as checking temperature of body, research work, and maintaining room temperature.
  • Smart watch medical wellness devices are expected to contribute around 27%revenue share by 2031, owing to their wide availability and increasing adoption to detect pulse rate.
  • Among all the end users, retail sales accounted for more market share than others.
  • The United States holds the highest share in the North American market, owing to the presence of more medical device companies, high healthcare expenditure, and adoption of advanced medical tools and devices in the country.
  • Key players are focused on strengthening their clinical pipelines with new discoveries of novel abuse-deterrent formulations.

“Demand for braces and supports rising due to increase in geriatric population across the world,” says an analyst of Persistence Market Research.

Access Full Report @ https://www.persistencemarketresearch.com/checkout/32486

Healthcare Spending Increasing on Medical Wellness Devices

Healthcare spending has increased at a high rate in recent years. North America healthcare spending increased at a CAGR of 6.9% between 2003 and 2013. Growth of healthcare spending significantly outpaced the growth rate of the population during this period, which increased at a CAGR of 1.22% during the same period. Consequently, per capita healthcare spending increased from US$ 597 in 2003 to US$ 1,032 in 2013, expanding at a CAGR of 5.62%. As such, demand for medical wellness devices is also rising parallelly in the region.

What Does the Report Cover?

Persistence Market Research offers a unique perspective and actionable insights on the medical wellness devices market in its latest study, presenting historical demand assessment of 2016-2020and projections for 2021-2031. The research study is based on product (blood pressure monitors, diabetic monitoring devices, thermometers, pulse oximeters, sleep trackers, smart watches, massagers and pain relief, mobility care, braces and supports, orthotic, and light therapy) and distribution channel (institutional sales and retail sales), across North America.

Explore Extensive Coverage of Persistence Market Research’s Healthcare Industry

Related Reports:

Animal Wound Care Market:

The global animal wound care market is estimated to reach nearly US$ 590 Mn by 2017 end and the market is expected to reach about US$ 1,013 Mn by the end of 2025, reflecting a CAGR of 7.0% over the forecast period (2017–2025). Several factors are responsible for this revenue growth.

Pneumatic Compression Therapy Market:

The global pneumatic compression therapy market is expected to witness robust growth during the forecast period. This growth is expected to be primarily driven by increasing adoption of pneumatic compression sleeves and pumps and a growing awareness of pneumatic compression therapy in developing economies.

Shoulder Replacement Market:

The global shoulder replacement market is estimated to grow at a CAGR of 7.8% during the period of forecast, 2017 to 2025 and is anticipated to be valued at US$ 2898.2 Mn by the end of 2025.

About Us:

Persistence Market Research is here to provide companies a one-stop solution with regards to bettering customer experience. It does engage in gathering appropriate feedback after getting through personalized customer interactions for adding value to customers’ experience by acting as the “missing” link between “customer relationships” and “business outcomes’. The best possible returns are assured therein.

Contact Us:

Persistence Market Research
Address – 305 Broadway, 7th Floor, New York City, NY 10007 United States
U.S. Ph. – +1-646-568-7751
USA-Canada Toll-free – +1 800-961-0353
Sales – sales@persistencemarketresearch.com
Website – https://www.persistencemarketresearch.com

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