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Emerging Economies Hold Lucrative Opportunities for Wearable Medical Devices Market through 2023

Press Release   •   Nov 14, 2016 07:15 EST

This report examines the wearable medical device market for the period 2016–2026. The primary objective of the report is to offer insights into current strategies and development scenario in the market that is significantly helping growth trajectory of global businesses and companies operating in this market. The wearable medical device market report begins by defining the product segment, application, and distribution channel. It is followed by an overview of the market dynamics of the global market, which includes FMI’s analysis of the key trends, drivers, restraints, opportunities, regulations and government initiatives that have an impact on the global wearable medical devices market.

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The primary factors fuelling demand for wearable medical devices include progressive demographic geriatric population, increasing prevalence of conditions such as diabetes, hypertension, cardiovascular disease and associated morbidity and mortality rates, escalating healthcare costs, rising consumer demand for home healthcare devices for improved health and safety etc. Moreover, adoption of wearable medical devices is also gaining traction in the home healthcare sector. However, lack of awareness among general population about wearable medical devices in certain countries, reluctance to shift from conventional devices to wearable devices, substitute and alternative products for wearable medical devices, availability of viable treatment options for certain diseases etc. are the factors hampering the growth of global wearable medical devices market.

Based on product segment, the market has been segmented into wearable therapeutic medical device, (further sub-segmented into hearing aid, insulin pump and respiratory therapy devices (respiratory therapy devices is further sub segmented into sleep apnea devices and non-invasive ventilation)), wearable monitoring and diagnostic devices, (further sub-segmented into fetal and obstetric devices (fetal and obstetric devices is further sub-segmented into wearable fetal monitors and infant motion sensing monitors), continuous glucose monitoring devices and cardiac monitoring devices (cardiac monitoring devices is further sub-segmented into wearable heart rate monitors, wearable pulse oximeters, wearable blood pressure monitors) and health and fitness devices. A detailed analysis of each segment has been provided in terms of market size, Y-o-Y growth rate, absolute $ opportunity and BPS analysis.

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Based on application type, the market has been segmented into patient monitoring, home healthcare and health and fitness.

The report has been segmented based on distribution channels into hospital pharmacies, clinics, online channel and hypermarkets. In countries such as U.S., Canada, U.K, Japan etc. physician recommend wearable devices to patients through clinics, hospitals pharmacies as these devices are used for monitoring purpose. Apart from this few wearable medical devices such blood glucose monitors etc. are available in hypermarkets, few manufacturers use go-to-market strategy by supplying their products through online channel distribution mode by reaching out to the customers.

The next section of the report highlights wearable medical devices market size and trends by region, and provides market forecast for 2016–2026. Key regions considered in this report include North America, Latin America, Western Europe, Eastern Europe, Asia Pacific Excluding Japan (APEJ), Japan and the Middle East & Africa (MEA). The study discusses key regional trends contributing to growth of the wearable medical devices market across the globe, as well as analyses the extent to which drivers are influencing this market in each region.

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The above sections— by product segment, application type and distribution channels — evaluate the present scenario and growth projections in the global wearable medical devices market for 2016–2026, considering 2015 as the base year, 2016 as the estimated year and provided data for the forecast period, i.e., 2017–2026.