Wearable medical devices are non-invasive devices which perform specific medical functions including monitoring and support over a prolonged period. Global wearable medical devices were valued at $5.57 billion in 2017 and expected to reach $14.54 billion by 2025 with a CAGR of 18.54% during the forecast period from 2019-2025. The factors like growing number of smartphone-based healthcare apps compatible with wearable devices and awareness & preference for home health care are fuelling the market growth. The factors like data security issues & high cost of wearable devices are hampering the market growth. Growing preference for wireless connectivity among healthcare providers is creating the opportunities for market growth.
Research Study Objectives:
- Define, estimate, and forecast the Wearable Medical Devices market statistics by distribution channel, type, device type, application, and regions concerning the individual growth drivers, market trends and their contribution toward the Wearable Medical Devices market growth
- Provides comprehensive information regarding the key factors influencing the market growth (Drivers, Restraints & Challenges, and Opportunities)
- Estimate & forecast the market size of all the segments concerning geographies including North America, Europe, Asia Pacific (APAC), South America and the Middle East and Africa (MEA).
- Recent competitive developments including M&A (Mergers and Acquisitions), Partnerships, and Product Innovations are provided in the Wearable Medical Devices Market Analysis report.
- Analysis and conclusions on the future Wearable Medical Devices market outlook.
Top-down and bottom-up approaches are used to validate the Wearable Medical Devices Market Size and are used to estimate the size of other dependent submarkets. Key players in the market are identified through various secondary sources; databases including Bloomberg Businessweek, Hoovers, Factiva, journals and associations and the market revenues are estimated and are thoroughly validated through primary and secondary research.
Secondary research involves the study of annual and financial reports of top players in the market, whereas primary research includes extensive interviews with the KoL’s such as CEOs, directors, board members, VP’s, sales managers, engineers, marketing executives, technicians, account managers, investors, strategic decision makers and others. The Wearable Medical Devices Market shares and breakdowns are determined using secondary sources and are verified by the primary sources. All possible parameters/factors that are affecting the Wearable Medical Devices market demand are covered in the research study are verified through primary research, analysed and interpreted to get the final qualitative and quantitative data. This data is collected and added with detailed analysis from Envision Inteligence and presented in this report.
The scope of the Report
The Wearable Medical Devices market segmentation is as follows:
By Type
- Smartwatches
- Smart Clothing
- Patches
- Activity Monitors
By Distribution Channel
- Online Channel
- Hypermarkets
- Pharmacies
By Device Type
- Therapeutic Devices
- Insulin Pumps
- Rehabilitation Devices
- Respiratory Therapy Devices
- Pain Management Devices
- Diagnostic & Monitoring Devices
- Glucose Monitoring Devices
- Sleep Monitoring Devices
- Fetal Monitoring & Obstetric Devices
- Neuromonitoring Devices
- Vital Signs Monitoring Devices
- Pulse Oximeters
- Blood Pressure Monitors
- Heart Rate Monitors
By Application
- Remote Patient Monitoring
- Home Healthcare
- Sports & Fitness
- Others
Geographical Analysis:
Wearable Medical Devices Market is segmented by geography into North America, South America, Europe, APAC and Middle East & Africa. U.S., Canada, Mexico and Costa Rica are analysed under North American region which is usually turning as the hotspot in the market. The South American region is further segregated into Brazil, Argentina, Chile, Columbia and some other emerging economies. In Europe, the market is extensively examined by covering U.K., Germany, France, Italy, Spain, Netherlands, Poland, Switzerland and some other promising economies. APAC is further categorised by countries into China, India, Japan, South Korea, Australia & New Zealand, Malaysia, Singapore and many other emerging nations. In the
Middle East & African region, Saudi Arabia, UAE, Iran, Iraq, Qatar, South Africa, Algeria, Morocco, Nigeria and so on countries are evaluated to understand the market growth lucidly.
Customization Options:
With the given research report, Envision Inteligence offers customisations as per the client’s specific requirements. The following customisation options offered for the Wearable Medical Devices Market include:
- Scope Revision
- Geographic Analysis
- Company Profiles
- Historical Data & Forecasting
- Key Contact Persons in companies
Global Wearable Medical Devices Market Research Report Includes:
- An executive summary condensing the whole report such that essential authority can rapidly twist up doubtlessly acquainted with brief overview and conclusion.
- To have a complete market analysis through industry value chain analysis, Porter’s Five Force Model, PESTLE, SWOTanalysis, and Y-o-Y analysis.
- Regional and global diversity is analysed with the major countries and the unions. Scrutinizing the revenue generation on Year-On-Year
- Identifying DROC in the current market and their impact on altering market dynamics.
- Competitive landscape analysis to identify the merger and acquisition which will have a comparative financial study with significant competitors.
- Expertise investment opportunities by an analyst to the individual and organisation to have a better foothold in the market.
- Identify the latest developments, market shares and strategies that are employed by the significant Wearable Medical Devices market players, such as
- Koninklijke Philips N.V.
- Drägerwerk AG & Co. KGaA
- Cleveland Medical Devices, Inc.
- Nuubo Smart Solutions Technology, SL
- Polar Electro, Inc.
- Along with these companies, many other companies are considered in the report while analysing the Global Wearable Medical Devices competitive strategies and environment. These companies held substantial share-owning to the nature of the industry whereas, the rest of the market shares are marginal chunks to regional and local level manufacturers. Other players also have considerable presence owing to its robust brand image, geographical reach and stable customer base.
