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The Wearable Medical Devices Market Report offers in-depth insights, revenue details, and other vital information regarding the global wearable medical devices market, and the various trends, drivers, restraints, opportunities, and threats in the target market till 2027.
The Wearable Medical Devices Market report offers insightful and detailed information regarding the various key players operating in the global wearable medical devices market, their financials, supply chain trends, technological innovations, and key developments, apart from future strategies, acquisitions & mergers, and market footprint.
The global wearable medical devices market report has been segmented on the basis of devices, applications, and regions.
Wearable Medical Devices Market Overview:
The Wearable Medical Devices Market was valued at $18.9 billion in 2021 & is projected to reach $38.2 billion by 2027. It is expected to grow at a 22% CAGR between 2021 and 2027.
Wearable medical devices are handheld, worn, or attached monitors of metabolic changes in the body, that record and display data whenever needed.
These devices are small, portable, and user-friendly. Moreover, due to its fast and quick processing of results, wearable medical devices are used for monitoring various human vitals such as monitoring of blood sugar levels, blood pressure levels, sleep apnea disease, heart rate, and skin temperatures.
The rising demand for user-friendly and self-monitoring devices by consumers is a key driver for the growth of the global wearable medical devices market.
Moreover, increasing health awareness and increasing the prevalence of conditions such as diabetes, hypertension and cardiovascular diseases are major drivers for the growth of the global wearable medical devices market.
Furthermore, technological advancements, attractive product features, and smartphone connectivity are also driving the global wearable medical devices market.
Lack of awareness among the general population and the unwillingness of the consumers to shift from conventional devices to wearable devices may act as key restraints for the growth of the global wearable medical devices market.
Moreover, device-related issues such as memory problems, inaccurate results, and fluctuations in data are major restraints to the growth of the global wearable medical devices market.
However, the manufacturing of innovative devices and next-generation products that are smartphone compatible by key players in this market can act as a major opportunity for the growth of the global wearable medical devices market.
North American market dominates the global wearable medical devices market as it holds the largest market share in terms of revenue, due to the presence of a huge number of mid-sized and large-sized companies, and the rapid emergence of new players.
The Europe market accounts for the second-largest share in the global wearable medical devices market, owing to the higher adoption of wearable medical devices by the general population followed by the Asia Pacific and Middle East & Africa (MEA).
Global Wearable Medical Devices Market Segmentation:
Global wearable medical devices market segmentation by devices:
- Glucose Monitoring Devices
- Pain Management Devices
- Respiratory Therapy Devices
Global wearable medical devices market segmentation by application:
- Home healthcare
- Remote Patient Monitoring
- Sports and Fitness
Global wearable medical devices market segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Medtronic plc
- Siemens AG
- Fitbit Inc.
- Bayer AG
- Panasonic Corporation
- Animas Corporation- Johnson & Johnson
- Smith’s Medical - A Smiths Group Company
- Koninklijke Philips N.V.
- Owlet Baby Care
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