Wearable Medical Devices Market is expected to reach USD 30.84 Billion by 2026 from USD 5.65 Billion in 2016 at a CAGR of 18.5% (Detailed analysis of the market CAGR is provided in the report). In the initial innovation of wearable technology and devices, that includes smartwatches, wristbands, jewelry, clothing, and glasses. The most prominent use case for wearable is centered on health and fitness by use of smartwatches and wristbands.
The wearable medical devices market based on type has been segmented into smartwatches, patches, smart clothing, and activity monitors. The activity monitors segment is expected to hold one of the largest shares for wearable medical devices market. There is an increasing incidence of lifestyle diseases, adoption of unhealthy lifestyles and increasing awareness for health and fitness. Based on the distribution channel, the pharmacies segment is expected to form one of the major contributors to the wearable market growth. The applications covered in this reports are sports and fitness, remote patient monitoring and home healthcare. The sports and fitness segment is expected to be one of the largest contributors and driver to the market for wearable medical devices.
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Geographically, the market has been segmented into Asia-Pacific, North America, Europe, Middle-East & Africa, and Latin America. North America formed one of the largest markets for wearable medical devices. Technological improvements in wearable medical devices and the increasing number of healthcare apps for smartphones are some of the factors driving the market growth.
• Comprehensive study and analysis of market drivers, restraints and opportunities influencing the growth of the wearable medical devices market.
• Intraocular lens market segmentation on the basis type, distribution channel, device type, application and geography (country-wise) has been provided.
• Wearable medical devices market strategic analysis with respect to individual growth trends, future prospects along with a contribution of various sub-market stakeholders have been considered under the scope of the study.
• Wearable medical devices market analysis and forecast for five major regions namely North America, Europe, Asia Pacific, the Middle East & Africa (MEA) and Latin America along with country-wise segmentation.
• Profiles of key industry players, their strategic perspective, market positioning and analysis of core competencies are further profiled.
• Competitive developments, investments, strategic expansion and competitive landscape of the key players operating in the wearable medical devices market are also profiled.
The market is estimated by triangulation of data points obtained from various sources and feeding them into a simulation model created individually for each market. The data points are obtained from paid and unpaid sources along with paid primary interviews with key opinion leaders (KOLs) in the market. KOLs from both, demand and supply side were considered while conducting interviews to get an unbiased idea of the market. This exercise was done at a country level to get a fair idea of the market in countries considered for this study. Later this country-specific data was accumulated to come up with regional numbers and then arrive at the global market value for Wearable Medical Devices Market.
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Some of the key players operating in the wearable medical devices market include
• Philips (Netherlands)
• LifeWatch (Switzerland)
• Garmin (Switzerland)
• Omron (Japan)
• Drägerwerk (Germany)
• Nokia Technologies (US)
• Jawbone (US)
• Polar (Finland)
Key Target Audience:
• Wearable medical device manufacturers
• Distributors and suppliers of wearable medical devices
• Public and private physicians
• Research & clinical laboratories
• Health insurance payers
• Market research and consulting firms
Scope of the Wearable Medical Devices Market Report:
The Research report segments the wearable medical devices market based on type, distribution channel, device type, application and geography
Wearable Medical Devices Market, By Type:
• Smart Clothing
Wearable Medical Devices Market, By Distribution Channel:
• Online Channel
Wearable Medical Devices Market, By Device Type:
• Vital Sign Monitoring Devices
• Glucose Monitoring Devices
• Sleep Monitoring Devices
• Fetal Monitoring & Obstetric Devices
• Neuromonitoring Devices
• Therapeutic Devices
• Pain Management Devices
• Rehabilitation Devices
• Respiratory Therapy Devices
• Insulin Pumps
Wearable Medical Devices Market, By Application:
• Remote Patient Monitoring
• Home Healthcare
Wearable Medical Devices Market, By Geography:
• Asia Pacific
• Middle East & Africa
• Latin America
• Breakdown of Europe Wearable Medical Devices Market
• Breakdown of Asia Pacific Wearable Medical Devices Market
• Breakdown of Middle East & Africa Wearable Medical Devices Market
• Breakdown of Latin America Wearable Medical Devices Market
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