The global Wearable Medical Device Market is expected to foresee significant growth. North America to lead the growth!
- Himanshu Patni
- February 13, 2023
- NEWS, TELECOM & IT
- Wearable Device Security Market, Wearable Device Security Market Growth, Wearable Device Security Market Share, Wearable Device Security Market Size, Wearable Device Security Market Trends
- 0 Comments
A wearable medical device can be defined as a device that is autonomous, noninvasive, and performs a specific medical function such as monitoring or support over a prolonged period. Smart wearables allow people to self-check their health condition. The cutting-edge wearable design could be the key to providing new alternatives to traditional doctor-patient interactions. By providing consistent monitoring, wearable devices can help doctors better predict and prevent or diagnose and treat health conditions such as cardiovascular diseases, diabetes, Alzheimer’s, and epilepsy. Moreover, Wearable devices are becoming a prominent consumer interface for IoT applications. Wearable device technology such as smartwatches is compatible with multiple devices extending to connected automobiles and home automation units, with convenience and remote access capabilities.
The wearable medical device market is expected to grow at a steady rate of around 24.7% owing to the growing geriatric population coupled with increasing chronic diseases among the population. For instance, according to the World Health Organization (WHO), in 2020, chronic diseases accounted for an estimated 75% of all deaths worldwide, with cardiovascular disease, cancer, diabetes, and chronic respiratory diseases among the leading causes of death.
For a detailed analysis of the Global Wearable Medical Device Market browse through – https://univdatos.com/report/wearable-device-security-market/
Based on product type, the market is segmented into the wristband, smartwatches, footwear, smart clothing, patches, eyewear, and others. Smartwatch category is to witness higher CAGR during the forecast period. Smartwatches are body mounted, with a standard, known location. This helps activity recognition research by removing the burden of identifying the location of the device. The location also permits easy recording of heart rate, heart rate variability, temperature, blood oxygen, and Galvanic Skin Response (GSR). Smartwatches are a significant boon to mHealth technologies which will boost the growth of this segment.
On the basis of device type, the market is categorized into diagnostic & monitoring devices, therapeutic devices, and others. Among these, diagnostic & monitoring devices held a significant share of the market in 2020. This is mainly due to the device being designed in order to send an automatic signal to the emergency service and share the current situation of the patients and the exact location of the patient with the emergency service. In the future, some special wearable technologies can be integrated into the patient’s body and in case of emergency, these devices may administer treatment to the patient.
Request for a sample of the report browse through- https://univdatos.com/get-a-free-sample-form-php/?product_id=34981
For a better understanding of the market adoption of the wearable medical device industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Australia, South Korea, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the Improving healthcare facilities and services, increase in the aging population will lead to the escalation in age-related disorders such as cardiovascular diseases, cerebrovascular disease (strokes), high blood pressure (hypertension), cancer, type 2 diabetes, Parkinson’s Disease, and dementia (including Alzheimer’s Disease). The rise in chronic diseases and the growing applications of wearable medical devices are some of the major drivers of the market in the region.
Some of the major players operating in the market include FITBIT; Apple, Inc.; OMRON Corporation; Koninklijke Philips N.V.; Xiaomi; Huawei Technologies Co., Ltd.; Garmin Ltd.; Polar Electro; SAMSUNG; GENTAG, Inc.
Global Wearable Medical Device Market Segmentation
Market Insight, by Product Type
· Wristband
· Smartwatches
· Footwear
· Smart Clothing
· Patches
· Eyewear
· Others
Market Insight, by Device Type
· Diagnostic & Monitoring Devices
· Therapeutic Devices
· Others
Market Insight, by Application
· Sports & Fitness
· Remote Patient Monitoring
· Tele-Home Healthcare
Market Insight, by Distribution Channel
· Pharmacies
· Online Channel
· Hypermarkets
Market Insight, by Region
· North America
o US
o Canada
o Rest of North America
· Europe
o Germany
o United Kingdom
o France
o Italy
o Spain
o Rest of Europe
· Asia-Pacific
o China
o Japan
o India
o Australia
o South Korea
o Rest of Asia-Pacific
· Rest of the World
Top Company Profiles
· FITBIT
· Apple, Inc.
· OMRON Corporation
· Koninklijke Philips N.V.
· Xiaomi
· Huawei Technologies Co., Ltd.
· Garmin Ltd.
· Polar Electro
· SAMSUNG
· GENTAG, Inc.