New Report Provides 2014-2023 Overview of Global Wearable Medical Devices Market
The Wearable Medical Devices Market was worth USD 3.68 billion in 2014 and is expected to reach approximately USD 16.65 billion by 2023, while registering itself at a compound annual growth rate (CAGR) of 18.26% during the forecast period.
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Wearable medical devices are handheld tools for monitoring that are utilized for identifying and monitoring disease. Because of the Increase in chronic illnesses, patients are picking healthcare at home as a practical and efficient method for treatment, as opposed to hospital services. Rising requirement for viably overseeing chronic disorders, developing number of disorders related to lifestyle, advent of cutting edge devices for healthcare management, expanded concentration towards healthy lifestyle are factors anticipated to boost the growth of the market. Also, developing awareness about early diagnosis of disease and treatment combined with increasing requirement for enhancing way of life and personal satisfaction will additionally boost the market development.
Wearable Medical Devices Market - Competitive Insights:
The leading players in the market are Zephyr Technology, Philips, LifeWatch AG, Fitbit, Vital Connect, Garmin Ltd and Omron. The major players in the market are profiled in detail in view of qualities, for example, company portfolio, business strategies, financial overview, recent developments, and share of the overall industry.
Wearable Medical Devices Market - Drivers and Restraints:
Developing prevalence of diabetes is one of the main considerations driving the development of the market. Individuals experiencing diabetes need to screen and keep a track of their key parameters including body weight, food intake, physical action and glucose level once in a day. This has brought about significant development of the market. For example, according to International Diabetes Federation (IDF), in 2015, diabetes influenced 415 million individuals worldwide and this number is foreseen to increase over the forecast period. Additionally, it was discovered that 1 of every 11 adults experience the ill effects of diabetes. Therefore, the rising predominance of diabetes will help the market development for wearable medical devices in not so distant future. Additionally, expanded focal point of key players on creating innovative wearable devices to meet the neglected therapeutic needs will additionally impel the market development.
Wearable Medical Devices Market - Market Segmentation:
The Wearable Medical Devices Market is segmented on the basis of product and application. Based on product the market is segmented into Therapeutic Devices and Diagnostic devices. The devices assist in carrying out vital operations to monitor an individual’s condition on real time basis. Based on application the market is segmented into Home Healthcare, Remote Patient Monitoring and Sports and Fitness.
Wearable Medical Devices Market - Classification -
Wearable Medical Devices Market , By Product, Estimates and Forecast, 2014-2023 ($Million)
Therapeutic Devices, Respiratory Therapy Devices, Rehabilitation Devices, Insulin/Glucose Monitoring Devices, Pain Management Devices, Diagnostic Devices, Vital Sign Monitoring Devices, Sleep Monitoring Devices, Electrocardiographs Fetal and Obstetric Devices, Neuromonitoring Devices
Wearable Medical Devices Market , By Application, Estimates and Forecast, 2014-2023 ($Million)
Remote Patient Monitoring
Home Healthcare
Sports and Fitness
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Wearable Medical Devices Market - By Region:
North America - U.S, Canada, Mexico
Europe - Germany, France, UK, Italy, Spain, Rest of Europe
Asia-Pacific - Japan, China, Australia, India, South Korea, Rest of Asia Pacific
Rest of the World - Brazil, South Africa, Saudi Arabia, United Arab Emirates, Others
Wearable Medical Devices Market - Regional Outlook and Trend Analysis:
Geographically, the market for wearable devices in North America has risen as the undisputed pioneer among the various territorial fragments. The high rate of robust healthcare infrastructure, diabetes, and early implementation of medical technologies are behind the astral development of the territorial market. Moreover, the vital monitors fragment has pulled in enormous request in North America which has profited the general territorial market.
Wearable Medical Devices Market - Table of Contents:
Introduction
Executive Summary
Market Overview
Market Analysis by Regions
Wearable Medical Devices Market , By Product
Wearable Medical Devices Market , By Application
Wearable Medical Devices Market , By Region
Company Profiles
Global Wearable Medical Devices Market Competition, by Manufacturer
Wearable Medical Devices Market Forecast (2018-2023)
FEATURES OF THE REPORT:
The analysis of Wearable Medical Devices market, their Growth, Demand, position, size and share from different regions are mentioned in detailed.
The key players in the market and their share in the global market are discussed.
The new strategic plan and suggestions that will help old as well as new market players to maintain the competitiveness are also discussed.
The Wearable Medical Devices market report provides some important points related to growth factors, challenges, opportunities, end-user analysis and achievement and so on.
The latest trends that are being followed in the market are included along with an example.
How technological advancement and research, as well as development activities, are impacting the market is explained in detail.
The development plans and policies are discussed as well as manufacturing processes and cost structures too are discussed.
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As the report further, it explains developing plans and policies, making processes, cost structures of Wearable Medical Devices market as well as the leading players. It also concentrates on the aspects like company profile, product images, supply chain relationship, import/export details of Wearable Medical Devices market, market statistics of Wearable Medical Devices market, upcoming development plans, market gains, contact details, consumption ratio. Ultimately, the report includes an in-depth analysis of sub-segments, market dynamics, feasibility study, key strategies used by leading players, market share study and growth prospects of the industry. The report also evaluates the growth established by the market during the forecast period and research conclusions are offered.
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