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Wearable Medical Devices Market Size, Share, Growth, Trends, Ou

  • The global wearable medical devices market value reached a value of US$ 16.5 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 25.2% during 2021-2026.

    Report Metric Historical: 2015-2020

    Base Year: 2020

    Forecast Year: 2021-2026

    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.

    Global Wearable Medical Devices Market Trends:

    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. These devices allow the monitoring of physiologic information, such as biopotential, photoplethysmogram (PPG), heart rate (HR), blood pressure (BP), blood oxygen saturation (SaO2), and respiration. Furthermore, the growing awareness among consumers about fitness has led to the development of wearable devices, such as smart bands and smartwatches, by leveraging advanced technologies such as artificial intelligence (AI), cloud, machine learning, and big data analytics. These devices help them monitor fitness parameters, including footstep count, calories burned, and distance walked. Moreover, factors such as a rise in the geriatric population, significant improvements in the healthcare infrastructure, and various advancements in wearable technology are bolstering the market growth.

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    Global Wearable Medical Devices Market 2021-2026 Analysis and Segmentation:

    Competitive Landscape:

    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
      • Vital Sign Monitoring
      • Sleep Monitoring
      • Electrocardiographs and Obstetric Devices
      • Neuromonitoring Devices
    • Therapeutic Devices
      • Pain Management Devices
      • Insulin Delivery Devices
      • Rehabilitation Devices
      • Respiratory Therapy Devices

    Breakup by Product:

    • Activity Monitors
    • Smartwatches
    • Patches
    • Smart Clothing
    • Hearing Aids
    • Others

    Breakup by Application:

    • Sports and Fitness
    • Remote Patient Monitoring
    • Home Healthcare

    Breakup by Distribution Channel:

    • Offline
    • Online

    Breakup by Region:

    • North America: (United States, Canada)
    • Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
    • Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
    • Latin America: (Brazil, Mexico, Others)
    • Middle East and Africa

    Ask Analyst for Customization and Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/wearable-medical-devices-market

    If you want latest primary and secondary data (2021-2026) with Cost Module, Business Strategy, Distribution Channel, etc. Click request free sample report, published report will be delivered to you in PDF format via email within 24 to 48 hours of receiving full payment.

    As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

    Key highlights of the report:

    • Market Performance (2015-2020)
    • Market Outlook (2021- 2026)
    • Porter’s Five Forces Analysis
    • Market Drivers and Success Factors
    • SWOT Analysis
    • Value Chain
    • Comprehensive Mapping of the Competitive Landscape

    If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

    About Us

    IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

    IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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