Global Wearable Medical Devices Market to Exhibit Strong Growth During 2020-2025
According to the latest report by IMARC Group, titled “Wearable Medical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2020-2025,” the global wearable medical devices market grew at a CAGR of around 22% during 2014-2019 and expected to continue its strong growth during the next five years.
Wearable medical devices are autonomous instruments that provide medical monitoring or support over a prolonged period. These devices are either embedded into clothing or worn as an accessory. They incorporate noninvasive physiological sensors, wireless data transmission capabilities, medical feedback and data processing modules. In recent years, wearable medical devices have gained immense popularity as they provide supporting hardware to cope with the evolving medical trend of offering point-of-care treatment. They also ensure unregulated medical supervision and assistance in the remote management of medical conditions for rehabilitating the chronically ill and disabled patients.
According to the World Health Organization (WHO), chronic diseases, such as ischemic heart disease (IHD), stroke and diabetes, are becoming the world’s leading causes of death and disability. This has increased the use of wearable technology among individuals to collect data and monitor their health. Besides this, the recent outbreak of the coronavirus disease (COVID-19) has led to innovations in wearable medical devices for telehealthcare, thereby enhancing the usability, efficiency and popularity of home-based telemedicine.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Wearable Medical Devices Market 2020-2025 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Abbott Laboratories, Apple Inc., Dexcom Inc., Fitbit Inc. (Google LLC), Garmin Ltd., Honeywell International Inc., Koninklijke Philips N.V., Medtronic Plc, Omron Corporation and Vital Connect Inc.
The report has segmented the market on the basis on region, device type, product, application and distribution channel.
Breakup by Device Type:
· Diagnostic Devices
o Vital Sign Monitoring
o Sleep Monitoring
o Electrocardiographs and Obstetric Devices
o Neuromonitoring Devices
· Therapeutic Devices
o Pain Management Devices
o Insulin Delivery Devices
o Rehabilitation Devices
o Respiratory Therapy Devices
Breakup by Product:
· Activity Monitors
· Smart Clothing
· Hearing Aids
Breakup by Application:
· Sports and Fitness
· Home Healthcare
Breakup by Distribution Channel:
Breakup by Region:
· North America
o United States
· Asia Pacific
o South Korea
o United Kingdom
· Latin America
· Middle East and Africa
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