Wearable Medical Devices Market Share, Opportunities, Historical Analysis, Development Status, Business Growth and Regional Forecast To 2025
Nov 28, 2019
MarketStudyReport.com Adds New Report Wearable Medical Devices Market 2025 research report providing information and data Device Type, Application, Regional Outlook, Growth Potential, Competitive Market Share & Forecast spreading across 171 Pages with table and figures in it.
Delaware, Selbyville - November 27, 2019 /MarketersMedia/ —
Global wearable medical devices market, based on application was segmented into home healthcare, remote patient monitoring and sports & fitness. In 2017, sports & fitness segment held the largest share of market, by application. However, the remote patient monitoring segment is anticipated to grow at a significant rate during the forecast period.
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The growth of the wearable medical devices market is primarily attributed to rising awareness regarding importance of fitness. Moreover, the rapid growth of pharmaceutical and biotechnology industry is also expected to drive the growth of wearable medical devices market. However, constant product recalls is expected to obstruct the growth of wearable medical devices market. On the other hand, the growing use of diagnostic & monitoring devices is expected to drive the market in the future years. Wearable devices are known to help in the early diagnosis of various diseases. These devices are able to record basic health parameters such as, heart rate monitoring, blood pressure monitoring and tracking the daily activities. Wearable devices help in reducing the frequent visits to physicians as the patients are able to diagnose the cause of symptoms by themselves. There have been developments in the wearable devices meant for diagnosis and monitoring purposes. Wearable devices are also being used for monitoring the blood glucose levels in an individual. With a rise in the cases of diabetes across the globe, the demand for the segment is expected to witness significant demand during the forecast period.
The global wearable medical devices market is expected to reach US$ 23,310.9 Mn in 2025 from US$ 6,231.7 Mn in 2017. The market is estimated to grow with a CAGR of 18.1% from 2018-2025.
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Global wearable medical devices market, based on the device type was segmented into diagnostic & monitoring devices and therapeutic devices. In 2017, diagnostic & monitoring devices segment held the largest share by the market, by device type. This is mainly attributed to the rise in the prevalence of chronic illnesses, leading to an increased awareness regarding maintaining good health.
Some of the major primary and secondary sources for wearable medical devices included in the report are World Health Organization (WHO), Organisation for Economic Co-operation (OECD), National Research Foundation (NRF), International Diabetes Federation (IDF), Canadian Institutes of Health Research (CIHR) and others.
Table of content:
1. INTRODUCTION 23
1.1 SCOPE OF THE STUDY 23
1.2 THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE 23
2. GLOBAL WEARABLE MEDICAL DEVICES MARKET - KEY TAKEAWAYS 24
3. GLOBAL WEARABLE MEDICAL DEVICES MARKET - MARKET LANDSCAPE 26
3.1 OVERVIEW 26
3.2 MARKET SEGMENTATION 26
3.2.1 Global Wearable Medical Devices Market - By Device Type 27
3.2.2 Global Wearable Medical Devices Market - Application 28
3.2.3 Global Wearable Medical Devices Market - By Geography 28
3.3 PEST ANALYSIS 29
3.3.1 North America - PEST Analysis 29
3.3.2 Europe- PEST Analysis 31
3.3.3 Asia Pacific- PEST Analysis 33
3.3.4 Middle East And Africa- PEST Analysis 35
3.3.5 South and Central America - PEST Analysis 37
4. GLOBAL WEARABLE MEDICAL DEVICES MARKET - KEY MARKET DYNAMICS 39
4.1 KEY MARKET DRIVERS 39
4.1.1 Rising Prevalence of Chronic Diseases 39
4.1.2 Increasing Geriatric Population 40
4.1.3 Rising Awareness Regarding Fitness 40
4.2 KEY MARKET RESTRAINTS 41
4.2.1 Unaddressed Regulatory Concerns 41
4.2.2 Constant Product Recalls in the Market 41
4.3 KEY MARKET OPPORTUNITIES 41
4.3.1 Rising Demand in Home Healthcare 41
4.3.2 Promotion of Wearable Devices by Insurance Providers and Other Corporations 42
4.4 FUTURE TRENDS 42
4.4.1 Rise in the Use of Smart Apparels 42
4.5 IMPACT ANALYSIS 43
5. WEARABLE MEDICAL DEVICES MARKET - GLOBAL ANALYSIS 44
5.1 WEARABLE MEDICAL DEVICES MARKET REVENUE FORECASTS AND ANALYSIS 44
5.2 GLOBAL WEARABLE MEDICAL DEVICES MARKET, BY GEOGRAPHY - FORECASTS AND ANALYSIS 45
5.3 PERFORMANCE OF KEY PLAYERS 46
5.3.1 FitBit, Inc 46
5.3.2 Apple, Inc. 47
5.4 EXPERT OPINIONS 47
More Details on this Report At: https://www.marketstudyreport.com/reports/wearable-medical-devices-market-to-2025-global-analysis
Related Report:
Global Therapeutic Wearable Medical Devices Market Insights, Forecast to 2025
Portable devices that use modern science and technology to alleviate the pain of wearers to some extent and provide effective treatment
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