Wearable Medical Devices Market Research Report

Wearable Medical Devices Market:

As per GMI Research’s latest analysis, Global Wearable Medical Devices Market reveals that the market is slated to register a higher CAGR over the forecast period. This is majorly attributed to the strong demand for remote patient monitoring devices and the continuous increase in home healthcare.

Wearable Medical Devices Market’s leading Manufacturers:

Lifewatch AG
Polar Electro OY
Omron Corporation
Withings SA
Jawbone Inc.
Garmin Ltd.
Philips Healthcare
Fitbit Inc.
Sotera Wireless, Inc
Drägerwerk AG & Co. KGaA

Wearable Medical Devices Market Dynamics (including market size, share, trends, growth, forecast, and industry analysis)

Key Drivers

The global wearable medical devices market is predicted to witness an upsurge in demand during the forecast period due to the strong demand for remote patient monitoring devices and the continuous increase in home healthcare across the world. Furthermore, the inclination of consumers’ preference towards fitness and healthy lifestyle is encouraging the end-users towards the adoption of wearable medical devices to monitor the health condition frequently. In the last few years, there has been an upsurge in the among of complex data generated. According to the wearable medical devices market forecast, Various studies are being conducted to create a viable solution that will integrate artificial intelligence in wearable medical devices, which will further fuel the growth of the wearable medical devices market size.

Due to the sedentary lifestyle of individuals, there has been an increase in the incidence and prevalence of lifestyle-related disorders, thereby enhancing the demand of the market in the coming years. Several diseases require constant monitoring of parameters, including blood pressure level and blood sugar level. This feature has enables the amalgamation of healthcare data with smart devices like a smartphone to have real-time access to data and to reduce errors. In addition to this, the increasing prevalence of chronic diseases and the rising mortality rates is promoting healthcare providers to offer personalized care devices for 24*7 monitoring. The growing incidences of obesity, followed by the rising awareness associated with physical fitness, are motivating the consumers to take part in physical activities. Several wearable devices, such as smart bands and smartwatches, aid in monitoring fitness parameters, including total distance walked, calories burned, and footstep count. These factors are further supporting the growth of the wearable medical devices market share in terms of revenue during the forecast period.

The recent outbreak of the COVID-19 pandemic has positively impacted the demand for the wearable medical devices market. Consumers are proactively searching for self-monitoring wearable medical devices to regularly monitor their health condition despite going to clinics and hospitals for check-ups. Additionally, the widespread coronavirus has resulted in health-consciousness among consumers, which in turn, is encouraging them to pot for wearable medical devices to monitor their health.

Wearable Medical Devices Market Segmentation:

Segmentation by Product:

Diagnostic Devices
- Vital Sign Monitoring Devices
  - Heart Rate Monitors
  - Activity Monitors
  - Electrocardiographs
  - Pulse Oximeters
  - Spirometers
  - Blood Pressure Monitors
  - Others
- Sleep Monitoring Devices
  - Sleep trackers
  - Wrist Actigraphs
  - Polysomnographs
  - Others
- Electrocardiographs Fetal And Obstetric Devices
- Neuromonitoring Devices
  - Electroencephalographs
  - Electromyographs
  - Others
- Therapeutic Devices
  - Pain Management Devices
    - Neurostimulation Devices
    - Others
  - Insulin/Glucose Monitoring Devices
    - Insulin Pumps
    - Others
  - Rehabilitation Devices
    - Accelerometers
    - Sensing Devices
    - Ultrasound Platform
    - Others
  - Respiratory Therapy Devices
    - Ventilators
    - Positive Airway Pressure (PAP) Devices
    - Portable Oxygen Concentrators
    - Others

Segmentation by Site:

Handheld
Headband
Strap/Clip/Bracelet
Shoe Sensors
Others

Segmentation by Application:

Sports And Fitness
Remote Patient Monitoring
Home Healthcare

Segmentation by Region:

North America
- United States of America
- Canada
Asia Pacific
- China
- Japan
- India
- Rest of APAC
Europe
- United Kingdom
- Germany
- France
- Spain
- Rest of Europe
RoW
- Brazil
- South Africa
- Saudi Arabia
- UAE
- Rest of the world (remaining countries of the LAMEA region)

About GMI Research

GMI Research is one of the leading market research and consulting company that offers consulting services, syndicated research reports, and customized market research reports. We help our client to make informed business decisions and provide market intelligence studies related to the various industries such as automotive, energy, healthcare, chemicals, technology, and other sectors. Our research teams include seasoned analysts and researchers have hands-on experience in every regions, including Asia-pacific, Europe, North America, and the Rest of the World. Our market research report provides in-depth analysis, which contains refined forecasts, a bird’s eye view of the competitive landscape, factors impacting the market growth, and several other market insights to aid companies in making strategic decisions. Featured in the ‘Top 20 Most Promising Market Research Consultants’ list of Silicon India Magazine in 2018, we at GMI Research are always looking forward to help our clients to stay ahead of the curve.

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Wearable Medical Devices Market Research Report