Global Wearable Medical Devices Market By Type (Activity Monitors, Smartwatches, Smart Clothing, Patches), Distribution Channel (Pharmacies, Online Channel, Hypermarkets), Device Type (Diagnostic & Monitoring Devices, Therapeutic Devices), Application (Sports & Fitness, Remote Patient Monitoring, Home Healthcare), Geography (North America, South America, Europe, Asia-Pacific, Middle East and Africa) - Industry Trends and Forecast to 2026
Market Analysis: Global Wearable Medical Devices Market
Global wearable medical devices market is registering a healthy CAGR of 23.80% in the forecast period of 2019-2026. This rise in the market can be attributed to the surging demand for wireless connectivity among healthcare providers and continuous advancement in technology.
Market Definition: Global Wearable Medical Devices Market
Wearable medical devices can be called non-invasive devices and autonomous capable of performing particular medical tasks. These medical tasks involve over a period of time medical monitoring or support. One of the main goals of wearable medical devices is to gather data about the fitness of the individual. These devices are used to monitor walking distance, consumption of calorie, sleep, and heartbeat.
- Increasing incidence of chronic diseases is driving the growth of the market
- Continuous advancement in technologies is helping the market to grow
- Increasing demand of wireless connectivity among healthcare providers is flourishing the growth of the market
- Surging awareness regarding physical fitness drives the market growth
- Expensive wearable devices hampers the market growth
- Issues regarding data security acts as a market restraint
Segmentation: Global Wearable Medical Devices Market
- Activity Monitors
- Smart Clothing
By Distribution Channel
- Online Channel
By Device Type
- Diagnostic & Monitoring Devices
- Vital Signs Monitoring Devices
- Heart Rate Monitors
- Pulse Oximeters
- Blood Pressure Monitors
- Glucose Monitoring Devices
- Sleep Monitoring Devices
- Fetal Monitoring & Obstetric Devices
- Neuromonitoring Devices
- Vital Signs Monitoring Devices
- Therapeutic Devices
- Pain Management Devices
- Rehabilitation Devices
- Respiratory Therapy Devices
- Insulin Pumps
- Sports & Fitness
- Remote Patient Monitoring
- Home Healthcare
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Rest of Middle East & Africa
Key Developments in the Market:
- In February 2019, VivaLNK had launched IoT-enabled medical wearable Sensor Platform for continuous patient monitoring. It has edge computing technologies, range of sensors and has an internal data cloud. It captures biometrics and human vitals, and supplies data from the patient to edge computing devices, and to the cloud, for application analysis and integration. This product launch will expand the company product portfolio and expand its market share.
- In January 2019, Omron Healthcare had launched HeartGuide. It is wearable blood pressure monitor. It can measure blood pressure through oscillometric technology. It can store up to 100 readings in memory and every data can be sent to a new alternate mobile application, HeartAdvisor. This product launch will expand the company product portfolio and will position the company as a market leader.
Global wearable medical devices market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of wearable medical devices market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major market competitors currently working in the global wearable medical devices market are Fitbit, Inc., Koninklijke Philips N.V., Garmin Ltd., BioTelemetry, Inc, Omron Healthcare, Inc, Drägerwerk AG & Co. KGaA, Nokia, General Electric Company, Misfit, Xiaomi, VitalConnect, Activinsights Ltd., World Global Network, Polar Electro, Aliph Brands LLC, Pebble Technology International, Sotera Wireless, Inc., Everist Health, Withings, Intelesens Ltd, among others.
Research Methodology: Global Wearable Medical Devices Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global wearable medical devices market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)