Middle East and Africa Wearable Medical Devices Market, By Type (Diagnostic Devices and Therapeutic Devices), Site (Headband, Handheld, Arm & Wrist, Clip, Shoe Sensor and Others), Device (Wristwatch/Wristband, Smart Clothing, Smartwatch, Ear Wear and Others), Application (Cardiac Health, Obesity Control, Diabetes Care, Fitness Monitoring, Sleep Tracking and Others), Country (South Africa, Saudi Arabia, U.A.E., Israel, Egypt and Rest of Middle East and Africa) Industry Trends & Forecast to 2027
Wearable medical devices market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 17.3% in the forecast period of 2020 to 2027 and is expected to reach USD 2,056.47 million by 2027 from USD 580.24 million in 2019.
Rising health consciousness among people across globe and increased technological advancement of wearable medical devices are the major drivers which have propelled the demand of the market in the forecast period.
Wearable medical devices are all those devices that help in disease diagnosis and monitoring to protect people from damage of long-term chronic disease. These devices play an important role in remote monitoring of patients in health centers or at home by tracking the vital signs such as heart rate, pulse rate, ECG and sleep cycle, among others. Regulatory bodies regulate the wearable medical devices to demarcate them from normal consumer electronics.
Wearable medical devices demand has increased as compared to the precise year with increased demand of minimally invasive and contactless diagnostic and therapeutic uses of wearable medical devices along with introduction of increased technologically advanced wearable medical devices. In addition demand of wearable medical devices has increased because of increasing health consciousness among people across world. Further high cost of wearable medical devices is expected to restraint the usage of wearable medical devices and is expected to slow down the growth of the wearable medical devices market in the forecasted period.
The wearable medical devices market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market. To understand the analysis and the market scenario contact us for an Analyst Brief, our team will help you create a revenue impact solution to achieve your desired goal.
Wearable medical devices Market is segmented on the basis of type, site, device and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the Middle East and Africa wearable medical devices market is segmented into diagnostic devices and therapeutic devices. In 2019, diagnostic devices are dominating in the market because of strong product portfolio of diagnostic wearable medical devices.
- On the basis of site, the Middle East and Africa wearable medical devices market is segmented into headband, handheld, arm & wrist, clip, shoe sensor and others. In 2019, handheld, arm & wrist segment is dominating the market due increased adoption of handheld devices by the geriatric population.
- On the basis of device, the Middle East and Africa wearable medical devices market is segmented into wristwatch/wristband, smart clothing, smartwatch, ear wear and others. In 2019, wristband/wristwatches devices are dominating the market owing to increased technological advancement of this segment by key manufacturers of the market.
- On the basis of application, the Middle East and Africa wearable medical devices market is segmented into cardiac health, obesity control, diabetes care, fitness monitoring, sleep tracking and others. In 2019, fitness monitoring segment is dominating the market due to increased incidence of chronic diseases.
Wearable Medical Devices Market Country Level Analysis
The wearable medical devices market is analysed and market size information is provided by type, site, device and application.
The countries covered in the wearable medical devices market report are the South Africa, Saudi Arabia, U.A.E., Israel, Egypt and Rest of Middle East and Africa.
South Africa is dominating the Middle East and Africa market with the increasing demand for the minimally invasive diagnostic devices for the detection of surging diseases in people in this region.
The country section of the wearable medical devices market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of Middle East and Africa brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
Increasing New Product Launch in Wearable Medical Devices is Creating New Opportunities for Players in the Wearable Medical Devices Market
Wearable medical devices market also provides you with detailed market analysis for every country growth in particular industry with wearable medical devices sales, impact of advancement in the wearable medical devices and changes in regulatory scenarios with their support for the wearable medical devices market. The data is available for historic period 2010 to 2018.
Competitive Landscape and Wearable Medical Devices Market Share Analysis
Wearable medical devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to wearable medical devices market.
The major players covered in the wearable medical devices market report are Sotera Wireless, Inc., Bio- Beat, Medtronic, Abbott, Masimo, Polar Electro, Garmin Ltd., Koninklijke Philips N.V., SAMSUNG, Dexcom, Inc. and Huawei Device Co., Ltd., among other domestic and Middle East and Africa players. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the wearable medical devices market.
- In September 2018, Apple Inc., launched Apple Watch Series 4, redesigned and reengineered to help users stay connected, become more active and manage their health in new and powerful ways. This new product launch by Apple Inc. increased its product portfolio in the market. Thereby increased sales in future.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the wearable medical devices market which also provides the benefit for organisation to improve their offering for wearable medical devices.
Customization Available: Middle East and Africa Wearable Medical Devices Market
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customised to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analysed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Factbook) or can assist you in creating presentations from the data sets available in the report.