The global wearable medical devices market size is expected to showcase considerable growth by reaching USD 195.57 billion by 2027 while exhibiting an astounding CAGR of 26.4% between 2020 and 2027. The global wearable medical devices market size was USD 29.76 billion in 2019. This is ascribable to factors such as the increasing prevalence of chronic diseases and the growing awareness regarding fitness and wellness amongst the people that is driving the adoption of innovative wearable type of medical devices globally. Fortune Business Insights, in its latest report, titled, “Wearable Medical Devices Market Size, Share & COVID-19 Impact Analysis, and Regional Forecast, 2020-2027.”, observes that the market stood at USD 26.4 billion in 2019 and is likely to gain momentum in the forthcoming years.
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What does the Report Provide?
The wearable medical devices market report provided a qualitative and quantitative analysis of several factors such as the key drivers and restraints that will have an impact on the market. Furthermore, the report includes significant insights into the regional insights that include different regions, which are contributing to the market growth between 2020 and 2027. It includes the competitive landscape involving the leading companies and the adoption of strategies by them to introduce new products, announce partnerships, collaborate, and acquire other companies that will contribute to the market growth. Moreover, the research analyst has adopted several research methodologies such as PESTEL analysis to obtain information about the current trends and industry developments that will drive the market growth in the forthcoming years.
SEGMENTATION:
Diagnostic & Patient Monitoring Segment to Hold Dominant Position
The diagnostic & patient monitoring segment, based on product, is expected to showcase substantial growth owing to the high disposable income of the young population that is propelling the sales of innovative wearable medical devices to monitor their overall health and fitness data.
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REGIONAL INSIGHTS
North America to Remain at Forefront; Key Players Launching Innovative Wearable Devices to Aid Growth
Among all the regions, North America is expected to gain momentum and hold the highest position in the global market in the forthcoming years. This is attributable to the presence of established manufacturers that are introducing innovative devices to cater to the growing number of fitness enthusiasts in the region.
On the other hand, Europe is expected to hold the second position in the market in the forthcoming years. This is ascribable to factors such as the increasing prevalence of chronic diseases among the elderly population that is likely to boost the adoption of innovative wearable medical devices in the region between 2020 and 2027.
List of the Companies Profiled in the Global Market:
- BD (New Jersey, United States)
- Ypsomed (Burgdorf, Switzerland)
- Fitbit, Inc. (San Francisco, United States)
- Apple Inc. (Cupertino, United States)
- Sonova (Stäfa, Switzerland)
- NeuroMetrix, Inc. (Waltham, United States)
- SAMSUNG (Suwon-si, South Korea)
- Omron Healthcare, Inc. (Kyoto, Japan)
- AiQ Smart Clothing (Taipei, Taiwan)
- Koninklijke Philips N.V. (Amsterdam, Netherlands)
- Other Prominent Player
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Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Recent Industry Developments- Partnerships, Mergers, and Acquisitions
- Key Industry Trends
- New Product Launch by Key Players
- Technological Advancements in Wearable Medical Devices Market
- Impact of COVID-19 on the Market
- Global Wearable Medical Devices Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Diagnostic & Patient Monitoring Wearable Medical Devices
- Activity Monitors/Trackers
- Smartwatches
- Smart-clothing
- Others (Biosensors, Blood Pressure Monitors, Glucose Monitoring Systems)
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- Therapeutic Wearable Medical Devices
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- Wearable Defibrillators
- Drug Delivery Devices (Injectors, Patches)
- Pain Management Devices (TENS, EMS)
- Hearing Aids
- Others
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- Market Analysis, Insights and Forecast – By Application
- Remote Patient Monitoring & Home Healthcare
- Sports and Fitness
- Market Analysis, Insights and Forecast – By End User
- Retail Pharmacies
- Online Pharmacies
- Hypermarkets & Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia pacific
- Rest of the World
- Market Analysis, Insights and Forecast – By Application
- North America Wearable Medical Devices Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Product
- Diagnostic & Patient Monitoring Wearable Medical Devices
- Activity Monitors/Trackers
- Smartwatches
- Smart-clothing
- Others (Biosensors, Blood Pressure Monitors, Glucose Monitoring Systems)
-
-
- Therapeutic Wearable Medical Devices
-
- Wearable Defibrillators
- Drug Delivery Devices (Injectors, Patches)
- Pain Management Devices (TENS, EMS)
- Hearing Aids
- Others
-
- Market Analysis, Insights and Forecast – By Application
- Remote Patient Monitoring & Home Healthcare
- Sports and Fitness
- Market Analysis, Insights and Forecast – By End User
- Retail Pharmacies
- Online Pharmacies
- Hypermarkets & Others
- Market Analysis, Insights and Forecast – By Country
- U.S.
- Canada
- Market Analysis, Insights and Forecast – By Application
TOC Continued…..
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