Summary –
A new market study, “Global Medical Wearables Market - Global Demand, Sales, Consumption and Forecasts to 2020-2025” has been featured on WiseGuyReports.
Global Medical Wearables Market is valued approximately USD 6.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 21.4% over the forecast period 2020-2027. Medical Wearables are the handheld monitoring tools primarily used in monitoring and identification of disease. With the rise in prevalence of chronic diseases, patients are opting for home healthcare tools as an efficient and cost effective of treatment, instead of hospital services. In the present scenario, medical wearables are gaining immense traction, due to enhanced technologies that are being pioneered consistently by the manufacturers. Due to these advancements of medical wearable technology and growing demand from patients to monitor their own health has influence the growth of wearable medical device industry to develop more wearable devices, such as smartwatches, fitbits, and wearable monitors. Further, increasing occurrence of chronic diseases, such as cardiovascular, cancer, etc., increasing usage of smartphone in health monitoring, and increasing awareness for health & fitness among people are the few factors responsible for high CAGR of the market during the forecast period. According to the American Heart Association, the occurred of death due to cardiovascular diseases was about 17.6 million in 2016, and a number is expected to grow to over 23.6 million by 2030. Also, as per the Center for Disease Control and Prevention (CDC), about 610,000 die due to heart diseases in the United States every year. This, in turn, is projected to accelerate the adoption of medical wearables around the world. The outbreak of COVID-19 crisis has led to rise in demand for medical wearables, as these devices are helps in screening and monitoring of novel coronavirus infections. Therefore, this factor can create lucrative opportunities for medical wearable market in the forthcoming years. However, inaccuracy in analysis of wearable generated data and unfavorable reimbursement issues impedes the growth of the market over the forecast period of 2020-2027.
The regional analysis of global Medical Wearables market is considered for the key regions such as Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is the leading/significant region across the world in terms of market share owing to the rising incidences of cardiovascular disorders, diabetes, and cancer, coupled with the early adoption of wearable medical technology in the region. Whereas, Asia-Pacific is also anticipated to exhibit highest growth rate / CAGR over the forecast period 2020-2027. Factors such as rising government initiatives for medical wearables, increasing aging population, and growing healthcare expenditure by people would create lucrative growth prospects for the Medical Wearables market across Asia-Pacific region.
Major market player included in this report are:
Koninklijke Philips N.V.
Medtronic plc
Omron Healthcare Co., Ltd.
Biotelemetry, Inc.
Apple Inc.
GE Healthcare
Abbott Laboratories
Dexcom, Inc.
iRhythm Technologies, Inc.
Masimo Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Device Type:
Vital Sign Monitoring Devices
Glucose Monitoring Devices & Insulin Pumps
Fetal Monitoring & Obstetric Devices
Neuromonitoring Devices
Sleep Monitoring Devices
By Product:
Patches
Smartwatches
Activity Monitors & Wristbands
Others
By End-User:
Hospitals
Ambulatory Care Centers
Long-Term Care Centers, Assisted-Living Facilities, and Nursing Homes
Home Care Settings
By Region:
North America
U.S.
Canada
Europe
UK
Germany
France
Spain
Italy
ROE
Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC
Latin America
Brazil
Mexico
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2017, 2018
Base year – 2019
Forecast period – 2020 to 2027
Target Audience of the Global Medical Wearables Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Venture capitalists
Value-Added Resellers (VARs)
Third-party knowledge providers
Investment bankers
Investors
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The Biochips market share and growth, trends estimated at the end of 2027 give a fair idea of the new opportunities coming up in the market.
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These segments are studied in detail, incorporating the market estimates and forecasts at regional and country levels.
The segment analysis is helpful in understanding the growth areas and potential opportunities of the market.Get | Download FREE Sample Report of Global Biochips Market @ https://www.decisiondatabases.com/contact/download-sample-5206A special section is dedicated to the analysis of the impact of the COVID-19 pandemic on the growth of the Biochips market.
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The nonwoven medical supplies segment is further categorized into incontinence products and surgical nonwoven products.Request sample copy of this report at:- https://www.nextmsc.com/Disposable-Medical-Supplies-Market/request-sample North America is anticipated hold the highest market share during the forecast period.
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The large share of this segment can be there have been significant technological advancements in medical wearable devices, which have helped improve the treatment outcomes for patients.
Growing use of high-tech devices that are compact, user-friendly, and come with a better graphical user interface for easy visibility of resulted data are helping to increase the market penetration of clinical-grade wearables.
These wearables are playing an integral role in treating and monitoring various medical conditions in patients and driving better health outcomes.The vital sign monitoring device segment accounted for the largest share of the Clinical-Grade Wearable market in 2019Based on device type, the vital sign monitoring segment accounted for the largest share of the Clinical Wearable Market in 2019.
Population aging is poised to become one of the most significant social transformations of the twenty-first century, with implications for nearly all sectors of society, including labor and financial markets, the demand for goods and services, such as housing, transportation and social protection, as well as family structures and intergenerational ties.The Long-term care centers, nursing homes, and assisted-living facilities segment accounted for the largest share and highest growth of the Clinical-Grade Wearable market in 2019Based on the Clinical grade wearables market by end-user, the end-user is segmented into Long-term Care Centers/ Assisted Living Facilities/Nursing Homes, Hospitals, Ambulatory Care Centers, and Home/Patients.
In 2019, the Long-term Care Centers/ Assisted Living Facilities/Nursing Homes accounted for the largest share and highest growth of the Medical Wearable market.
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Market Size Split by Type
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