San Francisco 12 April 2019 Wearable Medical Devices Market Size, Share & Trends Analysis Report By Product
Type (Diagnostic, Therapeutic Devices), By Site (Handheld, Headband, Strap,
Shoe Sensors), By Application, And Segment Forecasts, 2012 - 2022
Global Wearable Medical Device Market is expected to reach USD 27.8 billion by 2022, according to a new report by Grand View Research, Inc. Rising prevalence of conditions such as obesity and hypertension, as a result of sedentary lifestyle is anticipated to boost the demand for wearable medical devices. Moreover, increasing health awareness is further expected to augment the demand for these devices.
Additionally, growing incidences of chronic
conditions, such as diabetes, which require round-the-clock monitoring, are
expected to increase the demand for wearable technology. Technological
innovation is projected to be vital for growth of this industry over the
forecast period. Smart watches, smart bands, and smart clothing are anticipated
to be the key areas for development. Increasing penetration of smart cellular
phones is expected to assist growth of this technology. However, patient
privacy and security concerns along with complexity in engineering are expected
to impede growth of the industry.
Access Research Report of Wearable
Medical Device Market @ http://www.grandviewresearch.com/industry-analysis/wearable-medical-devices-market
Further key findings from the study suggest:
· Diagnostic wearable medical devices held
substantial share in 2014 owing to increasing usage in remote patient
monitoring as well as home healthcare
· Therapeutic wearable devices are
anticipated to exhibit remunerative growth over the forecast period. Increasing
penetration of products, such as insulin monitors, is assisting the growth of
wearable equipment.
· Diagnostic devices such as vital sign
monitors are expected to witness lucrative growth over the forecast period.
Rising incidences of chronic diseases are expected to boost the demand for this
equipment.
· Wearable medical devices have applications
in sports & fitness monitoring, home healthcare, and remote patient
monitoring. Home healthcare held significant shares of around 50.0% in 2014.
Simplified usage of this equipment along with ability to synchronize with
cellular phones as well as tablet devices assisted the growth of this segment.
· On the contrary, remote patient monitoring
is projected to exhibit growth rate of over 25.00% in the next seven years.
Increasing geriatric population base coupled with demand for continuous
monitoring is expected to fuel the growth.
· Strap/clip/bracelet or watches held
substantial shares of around 40.0% in 2014, and is expected to grow at a
lucrative rate over the forecast period. Simplified engineering, aesthetically
appealing products, and synchronization with mobile application are anticipated
to drive this segment’s growth.
· North America dominated the overall market
with approximately 40.0% of shares. This can be attributed to increasing per
capita income as well as rising healthcare spending, and advanced healthcare
infrastructure and presence of OEM in this region.
· Asia Pacific is projected to grow with a
rapid rate of around 32.0% over the forecast period. Economic development
coupled with improving healthcare systems is expected to help the industry grow
in this region.
· Key companies of the wearable medical
devices industry include Fitbit Inc., Garmin, Vital Connect, Omron Corp.,
Sotera Wireless, Jawbone, Pebble Technology Corp., Basis Science, Inc.,
Withings, Intelesens Ltd., Covidien Plc, LifeWatch AG, Polar Electro, Philips Electronics,
and Everist Genomics
Browse more reports of this category by Grand View
Research at: https://www.grandviewresearch.com/industry/medical-devices
Grand View Research has
segmented the global Wearable Medical Device Market on the basis of products
and region:
Global Wearable Medical Devices Product
Outlook (USD million), 2012 - 2022
·
Diagnostic devices
·
Therapeutic devices
Global Wearable Medical Devices Application Outlook (USD
million), 2012 - 2022
·
Sports & Faintness
·
Remote Patient Monitoring
·
Home healthcare
Global Wearable Medical Devices Site
Outlook (USD million), 2012 - 2022
·
Handheld
·
Headband
·
Strap, clip, bracelet and watches
·
Shoe sensors
·
Others
Wearable Medical Devices Region Outlook (USD
million), 2012 – 2020
·
North America
·
Europe
·
Asia Pacific
·
Latin America
·
MEA
Access Press Release of
Wearable
Medical Device Market@ https://www.grandviewresearch.com/press-release/global-wearable-medical-device-market
About
Grand View Research
Grand
View Research, Inc. is a U.S. based market research and consulting company,
registered in the State of California and headquartered in San Francisco.
The company provides syndicated research reports, customized research
reports, and consulting services. To help clients make informed business
decisions, we offer market intelligence studies ensuring relevant and
fact-based research across a range of industries, from technology to chemicals,
materials and healthcare.