Wearable Medical Device Market: Current Scenario and Forecast (2019-2025)

$3500 – $6860

Emphasis on Product Type (Wristband, Smartwatches, Footwear, Smart Clothing, Patches, Eyewear, Others), Device Type (Diagnostic & Monitoring Devices (Vital Sign Monitoring Devices, Glucose Monitoring Devices, Glucose Monitoring Devices, Fetal Monitoring & Obstetric Devices, Neuromonitoring Devices), Therapeutic Devices (Pain Management Devices, Rehabilitation Devices, Respiratory Therapy), Others), Application (Sports & Fitness, Remote Patient Monitoring, Tele-Home Healthcare), Distribution Channel (Pharmacies, Online Channel, Hypermarkets) and Region/Country

Detailed Analysis of COVID-19 Impact on the Wearable Medical Device Market

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Wearable Medical Device Market 1
Wearable Medical Device Market 1

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Global Wearable Medical Device Market is anticipated to reach market valuation of US$ 25,101.5 Million by 2025 displaying reasonable CAGR of 18.29% over the forecast period (2019-2025). Wearable medical devices are deployed for the monitoring of patients at both personal as well as medical level. The technology revolves around the miniaturization of electronic devices in order to make them wearable and reliable. The market of wearable medical device market is anticipated to grow enormously owing to the factors such as rising old age population and old age-related diseases, increasing penetration of smartphones and growing number of smartphone-based healthcare apps compatible with wearable devices. Growing preference for wireless connectivity among healthcare providers and increasing focus on physical fitness would further derive the overall adoption of wearable medical device. However, high cost of wearable devices and lack of reimbursement and data security issues. Moreover, Incorporation of AI Wearable Medical Devices Market and Increasing demand for connected devices will act as the opportunity for further evolution of this industry.

Wearable Devices Application on Body Parts and the Parameters Monitored

Wearable Medical Device Market 2
Wearable Medical Device Market 2

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“Smart Watches are projected to hold the largest market share and will dominate the Global wearable medical device market by 2025.”

Based on type of wearable medical device market is bifurcated into Smartwatches, Wristband, Smart Clothing, Footwear, Eyewear, Skin Patches and Others. The market of Smartwatches is expected to grow tremendously and is projected to dominate the market in 2025 due to the high popularity of these devices.

“Diagnostic & Monitoring Devices are expected to dominate the product type during the analyzed period.”

Wearable medical device market is segmented based on devices into diagnostic & monitoring devices and therapeutic devices. The diagnostic & monitoring devices occupied the largest share and are expected to maintain their dominance throughout the forecast period 2019-2025. However, therapeutic devices are expected to show the highest growth.

“Amongst application, Home Healthcare holds the major share in Global wearable medical device market.”

The wearable device market holds a wide range of applications in sports & fitness, remote patient monitoring, and home healthcare. The rising incidence of lifestyle disease will escalate the market growth and Home Healthcare will hold the highest market share in this segment.

“Online mode of distribution is the prominent mode of distribution of wearable medical devices and is  anticipated to dominate global wearable medical device market by 2025.”

Pharmacies, online channels, and hypermarkets are the major distribution channel of this technology. Online channels are anticipated to dominate this segment in 2025. Rising smartphone penetration and people spending more time on the internet are expected to boost the online mode of purchase and distribution of wearable medical devices majorly in developed and developing countries.

Wearable Medical Device Market by Distribution Channel, Global, 2018-2025 (US$ Million)

Wearable Medical Device Market 3
Wearable Medical Device Market 3

“United States represents as one of the largest markets of wearable medical device market globally.”

For deep-dive analysis of the overall adoption of wearable medical devices, through analysis was conducted for major region/country. Regional analysis of the technology is conducted for North America (United States, Canada), Europe (Germany, France, Italy, United Kingdom, Spain, Netherlands), Asia-Pacific (China, India, Japan, Australia, South Korea) and Rest of the world. United States is the largest adopter of technologically advanced products, hence dominate the market for wearable medical device globally.

Competitive Landscape-Top 10 Market Players

Fitbit, Inc., Apple, Inc., Xiaomi Technology Co., Ltd, Garmin International, Huawei Technologies Co. Ltd, Philips Healthcare, Samsung Electronics Co., Ltd., Polar electro OY, Gentag Inc., Omron corporation are some of the prominent players operating in the Global wearable medical device market industry. These players are adopting several growth strategies including acquisition, product launches, partnership and business expansion to increase their market presence and benefit as first mover advantages. The industry has also witnessed the emergence of several start-ups in the respective domain, majorly in the European region.

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Reasons to buy (The research report presents):

  • Current and future market size from 2018 to 2025 in terms of value (US$)
  • Combined analysis of deep dive secondary research and input from primary research through Key Opinion Leaders of the industry
  • Country level details of the overall adoption of wearable medical device market and current and future health status of the country
  • A quick review of overall industry performance at a glance
  • An In-depth analysis of key industry players
  • A detailed analysis of regulatory framework, drivers, restraints, key trends and opportunities prevailing in the industry
  • Examination of industry attractiveness with the help of Porter’s Five Forces analysis and start ups
  • The study comprehensively covers the market across different segments and sub-segments of the technology
  • Region/country Covered: North America (United States, Canada), Europe (Germany, France, Italy, United Kingdom, Spain, Netherlands), Asia-Pacific (China, India, Japan, Australia, South Korea) and Rest of the world


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1.1Market Definition
1.2Objective of the Study
1.3Limitation
1.4Stakeholders
1.5Currency used in the Report
1.6Scope of the Wearable Medical Device Market Study
2.1Research Methodology adopted for Wearable Medical Device Market study
 2.1.1Main objective of the Wearable Device Market Study
3.1General Overview 
 3.1.1US Regulations for Wearable Medical Devices
  3.1.1.1Legal Framework for Medical Device Regulation
  3.1.1.2FDA Flexibility on Low-Risk Mobile Applications
  3.1.1.3Legal Framework for Health Data Privacy
 3.1.2Japan Regulations for Wearable Medical Devices
  3.1.2.1List of software Under Regulation
  3.1.2.2Legal Framework for Health Data Privacy
 3.1.3European Regulations for Wearable Medical Devices
  3.1.3.1EU Strict Rules on Medical Device Software
  3.1.3.2Legal Framework for Health Data Privacy
5EXECUTIVE SUMMARY
6.1Introduction 
6.2Market Dynamics 
 6.2.1Market Drivers
  6.2.1.1Rising Prevalence of Chronic Diseases and Lifestyle Related Disorders
  6.2.1.2Increasing Elderly Population
  6.2.1.3Rising Healthcare Expenditure and Health-Conscious Personals
  6.2.1.4Increasing Penetration of Smartphone-Based Healthcare Applications
 6.2.2Market Restraints
  6.2.2.1High Cost of Wearable Devices and Lack of Reimbursement
  6.2.2.2Data Security Issues
 6.2.3Trends in Wearable Medical Devices
  6.2.3.1Increasing demand of connected devices
  6.2.3.2Incorporation of AI Wearable Medical Devices Market
  6.2.3.3Significant Growth in IoMT Market
7.1Demand Side Analysis
 7.1.1Some of the Key Facts about Aging Population
 7.1.2Health Conditions Associated with Aging
  7.1.2.1
7.2Supply Side Analysis
 7.2.1Product Launch
 7.2.2Business Expansion
 7.2.3Investment
 7.2.4Acquisition and Collaboration
7.3Value Chain Analysis of Wearable Medical Device Market
7.4List of Start-Up under Wearable Medical Device Sector
8.1General Overview
 8.1.1Wristband
 8.1.2Smartwatches
 8.1.3Footwear
 8.1.4Smart Clothing
 8.1.5Patches
 8.1.6Eyewear
 8.1.7Others
9.1General Overview 
 9.1.1Diagnostic & Monitoring Devices
  9.1.1.1Vital Sign Monitoring Devices
  9.1.1.2Glucose Monitoring Devices
  9.1.1.3Sleep Monitoring Devices
  9.1.1.4Fetal Monitoring & Obstetric Devices
  9.1.1.5Neuromonitoring Devices
 9.1.2Therapeutic Devices
  9.1.2.1Pain Management Devices
  9.1.2.2Rehabilitation Devices
  9.1.2.3Respiratory Therapy
 9.1.3Others 
10.1General Overview
 10.1.1Sports & Fitness
 10.1.2Remote Patient Monitoring
 10.1.3Tele-Home Healthcare
11.1General Overview
 11.1.1Pharmacies
 11.1.2Online Channel
 11.1.3Hypermarkets
12.1General Overview   
12.2North America Wearable Medical Device Market (2018-2025)
 12.2.1North America Wearable Medical Device Market, by Product Type
 12.2.2North America Wearable Medical Device Market, by Device Type
  12.2.2.1North America Diagnostic & Monitoring Device Market, by Subtypes
  12.2.2.2North America Therapeutic Device Market, by Subtypes
 12.2.3North America Wearable Medical Device Market, by Application
 12.2.4North America Wearable Medical Device Market, by Distribution Channel
 12.2.5North America Wearable Medical Device Market, by Country
  12.2.5.1United States Wearable Medical Device Market (2018-2025)
   12.2.5.1.1Key Findings on Healthcare Spending in the US, 2017
   12.2.5.1.2US Health Spending by Type of Service or Product, 2017
   12.2.5.1.3Health Spending by Major Sources of Funds
   12.2.5.1.4US Wearable Medical Device Market, by Product Type
   12.2.5.1.5US Wearable Medical Device Market, by Device Type
   12.2.5.1.6US Diagnostic & Monitoring Device Market, by Subtypes
   12.2.5.1.7US Therapeutic Device Market, by Subtypes
   12.2.5.1.8US Wearable Medical Device Market, by Application
   12.2.5.1.9US Wearable Medical Device Market, by Distribution Channel
  12.2.5.2Canada Wearable Medical Device Market (2018-2025)
   12.2.5.2.1Key Facts on Total Hospital Cost, by Health Conditions Canada, 2016
   12.2.5.2.2Key Findings on Canada Healthcare Spending, 2018
   12.2.5.2.3Key Findings on Hospital sector Spending in Canada, 2018
   12.2.5.2.4Canada Wearable Medical Device Market, by Product Type
   12.2.5.2.5Canada Wearable Medical Device Market, by Device Type
   12.2.5.2.6Canada Diagnostic & Monitoring Device Market, by Subtypes
   12.2.5.2.7Canada Therapeutic Device Market, by Subtypes
   12.2.5.2.8Canada Wearable Medical Device Market, by Application
   12.2.5.2.9Canada Wearable Medical Device Market, by Distribution Channel
  12.2.5.3Rest of the NA Wearable Medical Device Market (2018-2025)
   12.2.5.3.1Key Findings on Healthcare Spending in Mexico, 2016
   12.2.5.3.2Rest of the NA Wearable Medical Device Market, by Product Type
   12.2.5.3.3Rest of the NA Wearable Medical Device Market, by Device Type
   12.2.5.3.4Rest of the NA Diagnostic & Monitoring Device Market, by Subtypes
   12.2.5.3.5Rest of the NA Therapeutic Device Market, by Subtypes
   12.2.5.3.6Rest of the NA Wearable Medical Device Market, by Application
   12.2.5.3.7Rest of NA Wearable Medical Device Market, by Distribution Channel
12.3Europe Wearable Medical Device Market (2018-2025)
 12.3.1Europe Wearable Medical Device Market, by Product Type
 12.3.2Europe Wearable Medical Device Market, by Device Type
  12.3.2.1Europe Diagnostic & Monitoring Device Market, by Subtypes
  12.3.2.2Europe Therapeutic Device Market, by Subtypes
 12.3.3Europe Wearable Medical Device Market, by Application
 12.3.4Europe Wearable Medical Device Market, by Distribution Channel
 12.3.5Europe Wearable Medical Device Market, by Country
  12.3.5.1Germany Wearable Medical Device Market (2018-2025)
   12.3.5.1.1Germany Wearable Medical Device Market, by Product Type
   12.3.5.1.2Germany Wearable Medical Device Market, by Device Type
   12.3.5.1.3Germany Diagnostic & Monitoring Device Market, by Subtypes
   12.3.5.1.4Germany Therapeutic Device Market, by Subtypes
   12.3.5.1.5Germany Wearable Medical Device Market, by Application
   12.3.5.1.6Germany Wearable Medical Device Market, by Distribution Channel
  12.3.5.2United Kingdom Wearable Medical Device Market (2018-2025)
   12.3.5.2.1UK Wearable Medical Device Market, by Product Type
   12.3.5.2.2UK Wearable Medical Device Market, by Device Type
   12.3.5.2.3UK Diagnostic & Monitoring Device Market, by Subtypes
   12.3.5.2.4UK Therapeutic Device Market, by Subtypes
   12.3.5.2.5UK Wearable Medical Device Market, by Application
   12.3.5.2.6UK Wearable Medical Device Market, by Distribution Channel
  12.3.5.3Spain Wearable Medical Device Market (2018-2025)
   12.3.5.3.1Spain Wearable Medical Device Market, by Product Type
   12.3.5.3.2Spain Wearable Medical Device Market, by Device Type
   12.3.5.3.3Spain Diagnostic & Monitoring Device Market, by Subtypes
   12.3.5.3.4Spain Therapeutic Device Market, by Subtypes
   12.3.5.3.5Spain Wearable Medical Device Market, by Application
   12.3.5.3.6Spain Wearable Medical Device Market, by Distribution Channel
  12.3.5.4France Wearable Medical Device Market (2018-2025)
   12.3.5.4.1France Wearable Medical Device Market, by Product Type
   12.3.5.4.2France Wearable Medical Device Market, by Device Type
   12.3.5.4.3France Diagnostic & Monitoring Device Market, by Subtypes
   12.3.5.4.4France Therapeutic Device Market, by Subtypes
   12.3.5.4.5France Wearable Medical Device Market, by Application
   12.3.5.4.6France Wearable Medical Device Market, by Distribution Channel
  12.3.5.5Italy Wearable Medical Device Market (2018-2025)
   12.3.5.5.1Italy Wearable Medical Device Market, by Product Type
   12.3.5.5.2Italy Wearable Medical Device Market, by Device Type
   12.3.5.5.3Italy Diagnostic & Monitoring Device Market, by Subtypes
   12.3.5.5.4Italy Therapeutic Device Market, by Subtypes
   12.3.5.5.5Italy Wearable Medical Device Market, by Application
   12.3.5.5.6Italy Wearable Medical Device Market, by Distribution Channel
  12.3.5.6Rest of Europe Wearable Medical Device Market (2018-2025)
   12.3.5.6.1Rest of Europe Wearable Medical Device Market, by Product Type
   12.3.5.6.2Rest of Europe Wearable Medical Device Market, by Device Type
   12.3.5.6.3Rest of Europe Diagnostic & Monitoring Device Market, by Subtypes
   12.3.5.6.4Rest of Europe Therapeutic Device Market, by Subtypes
   12.3.5.6.5Rest of Europe Wearable Medical Device Market, by Application
   12.3.5.6.6Rest of Euro Wearable Medical Device Market, by Distribution Channel
12.5Asia-Pacific Wearable Medical Device Market (2018-2025)
 12.5.1Asia-Pacific Wearable Medical Device Market, by Product Type
 12.5.2Asia-Pacific Wearable Medical Device Market, by Device Type
  12.5.2.1Asia-Pacific Diagnostic & Monitoring Device Market, by Subtypes
  12.5.2.2Asia-Pacific Therapeutic Device Market, by Subtypes
 12.5.3Asia-Pacific Wearable Medical Device Market, by Application
 12.5.4Asia-Pacific Wearable Medical Device Market, by Distribution Channel
 12.5.5Asia-Pacific Wearable Medical Device Market, by Country
  12.5.5.1China Wearable Medical Device Market (2018-2025)
   12.5.5.1.1Key Facts on Wearable Medical Device in China
   12.5.5.1.2China Wearable Medical Device Market, by Product Type
   12.5.5.1.3China Wearable Medical Device Market, by Device Type
   12.5.5.1.4China Diagnostic & Monitoring Device Market, by Subtypes
   12.5.5.1.5China Therapeutic Device Market, by Subtypes
   12.5.5.1.6China Wearable Medical Device Market, by Application
   12.5.5.1.7China Wearable Medical Device Market, by Distribution Channel
  12.5.5.2India Wearable Medical Device Market (2018-2025)
   12.5.5.2.1India Wearable Medical Device Market, by Product Type
   12.5.5.2.2India Wearable Medical Device Market, by Device Type
   12.5.5.2.3India Diagnostic & Monitoring Device Market, by Subtypes
   12.5.5.2.4India Therapeutic Device Market, by Subtypes
   12.5.5.2.5India Wearable Medical Device Market, by Application
   12.5.5.2.6India Wearable Medical Device Market, by Distribution Channel
  12.5.5.3Japan Wearable Medical Device Market (2018-2025)
   12.5.5.3.1Changing Demographic Structure of Japan
   12.5.5.3.2Japan Wearable Medical Device Market, by Product Type
   12.5.5.3.3Japan Wearable Medical Device Market, by Device Type
   12.5.5.3.4Japan Diagnostic & Monitoring Device Market, by Subtypes
   12.5.5.3.5Japan Therapeutic Device Market, by Subtypes
   12.5.5.3.6Japan Wearable Medical Device Market, by Application
   12.5.5.3.7Japan Wearable Medical Device Market, by Distribution Channel
  12.5.5.4Australia Wearable Medical Device Market (2018-2025)
   12.5.5.4.1Key Facts on Wearable Device in Australia
   12.5.5.4.2Australia Wearable Medical Device Market, by Product Type
   12.5.5.4.3Australia Wearable Medical Device Market, by Device Type
   12.5.5.4.4Australia Diagnostic & Monitoring Device Market, by Subtypes
   12.5.5.4.5Australia Therapeutic Device Market, by Subtypes
   12.5.5.4.6Australia Wearable Medical Device Market, by Application
   12.5.5.4.7Australia Wearable Medical Device Market, by Distribution Channel
  12.5.5.5South Korea Wearable Medical Device Market (2018-2025)
   12.5.5.5.1Key Facts on Wearable Device in South Korea
   12.5.5.5.2South Korea Wearable Medical Device Market, by Product Type
   12.5.5.5.3South Korea Wearable Medical Device Market, by Device Type
   12.5.5.5.4South Korea Diagnostic & Monitoring Device Market, by Subtypes
   12.5.5.5.5South Korea Therapeutic Device Market, by Subtypes
   12.5.5.5.6South Korea Wearable Medical Device Market, by Application
   12.5.5.5.7South Korea Wearable Medical Device Market, by Distribution Channel
  12.5.5.6Rest of Asia-Pacific Wearable Medical Device Market (2018-2025)
   12.5.5.6.1Rest of APAC Wearable Medical Device Market, by Product Type
   12.5.5.6.2Rest of APAC Wearable Medical Device Market, by Device Type
   12.5.5.6.3Rest of APAC Diagnostic & Monitoring Device Market, by Subtypes
   12.5.5.6.4Rest of APAC Therapeutic Device Market, by Subtypes
   12.5.5.6.5Rest of APAC Wearable Medical Device Market, by Application
   12.5.5.6.6Rest of APAC Wearable Device Market, by Distribution Channel
 12.7Rest of World Wearable Medical Device Market (2018-2025)
  12.7.1Rest of World Wearable Medical Device Market, by Product Type
  12.7.2Rest of World Wearable Medical Device Market, by Device Type
   12.7.2.1Rest of World Diagnostic & Monitoring Device Market, by Subtypes
   12.7.2.2Rest of World Therapeutic Device Market, by Subtypes
  12.7.3Rest of World Wearable Medical Device Market, by Application
  12.7.4Rest of World Wearable Medical Device Market, by Distribution Channel
13.1Porter’s Five forces analysis
 13.1.1Bargaining Power of Buyers
 13.1.2Bargaining power of Supplier
 13.1.3Threat of new entrants
 13.1.4Availability of Substitute
 13.1.5Industry Rivalry
13.2Competitive Landscape
 13.2.1Top Players in the Global Five Wearables Companies in 2018
 13.2.2Wearable Medical Device Market Share by Company, 2018
14.1Fitbit Inc.  
 14.1.1Key Facts 
 14.1.2Business Description
 14.1.3Key Product/Services Offerings
 14.1.4Growth Strategy
 14.1.5SWOT Analysis
 14.1.6Key Financials (2014-2018)
 14.1.7Revenue Split
 14.1.8Recent Developments
  14.1.8.1Product Launches
  14.1.8.2Partnership
  14.1.8.3Business Expansion
  14.1.8.4Mergers & Acquisitions
14.2Apple, Inc. 
 14.2.1Key Facts 
 14.2.2Business Description
 14.2.3Key Product/Services Offerings
 14.2.4Growth Strategy
 14.2.5SWOT Analysis
 14.2.6Key Financials (2014-2018)
 14.2.7Revenue Split
 14.2.8Recent Developments
  14.2.8.1Product Launches
  14.2.8.2Business Expansion and Investment
14.3Omron Corporation 
 14.3.1Key Facts 
 14.3.2Business Description
 14.3.3Key Product/Services Offerings
 14.3.4Growth Strategy
 14.3.5SWOT Analysis
 14.3.6Key Financials (2014-2018)
 14.3.7Revenue Split
 14.3.8Recent Developments
  14.3.8.1Product Launches
  14.3.8.2Business Expansion
  14.3.8.3Mergers & Acquisitions
14.4Koninklijke Philips N.V.
 14.4.1Key Facts 
 14.4.2Business Description
 14.4.3Key Product/Services Offerings
 14.4.4Growth Strategy
 14.4.5SWOT Analysis
 14.4.6Key Financials (2014-2018)
 14.4.7Revenue Split
 14.4.8Recent Developments
  14.4.8.1Product Launches
  14.4.8.2Partnership
  14.4.8.3Business Expansion
14.5Xiaomi Corporation 
 14.5.1Key Facts 
 14.5.2Business Description
 14.5.3Key Product/Services Offerings
 14.5.4Growth Strategy
 14.5.5SWOT Analysis
 14.5.6Key Financials (2017-2018)
 14.5.7Revenue Split
 14.5.8Recent Developments
  14.5.8.1Product Launches
  14.5.8.2Partnership
  14.5.8.3Business Expansion
14.6Huawei Technologies Co., Ltd.
 14.6.1Key Facts 
 14.6.2Business Description
 14.6.3Key Product/Services Offerings
 14.6.4Growth Strategy
 14.6.5SWOT Analysis
 14.6.6Key Financials (2014-2018)
 14.6.7Revenue Split
 14.6.8Revenue Split
 14.6.9Recent Developments
  14.6.9.1Product Launch
  14.6.9.2Business Expansion
  14.6.9.3Partnership
14.7Garmin International, Inc.
 14.7.1Key Facts 
 14.7.2Business Description
 14.7.3Key Product/Services Offerings
 14.7.4Growth Strategy
 14.7.5SWOT Analysis
 14.7.6Key Financials (2014-2018)
 14.7.7Revenue Split
 14.7.8Recent Developments
  14.7.8.1Product Launches
  14.7.8.2Partnership
  14.7.8.3Business Expansion
14.8Polar Electro OY 
 14.8.1Key Facts 
 14.8.2Business Description
 14.8.3Key Product/Services Offerings
 14.8.4SWOT Analysis
 14.8.5Recent Developments
  14.8.5.1Product Launches
  14.8.5.2Partnership
  14.8.5.3Business Expansion
14.9Samsung Electronics Co., Ltd.
 14.9.1Key Facts 
 14.9.2Business Description
 14.9.3Key Product/Services Offerings
 14.9.4Growth Strategy
 14.9.5SWOT Analysis
 14.9.6Key Financials (2014-2018)
  14.9.6.1Revenue Split
 14.9.7Recent Developments
  14.9.7.1Product Launches
  14.9.7.2Partnership
  14.9.7.3Mergers and Acquisition
14.1Gentag, Inc 
 14.10.1Key Facts 
 14.10.2Business Description
 14.10.3Key Product/Services Offerings
 14.10.4SWOT Analysis
 14.10.5Recent Developments
  14.10.5.1Product Launches

Research Methodology

Analyzing historical market, estimation of the current market and forecasting the future market of the Global Wearable Medical Device were the three major steps undertaken to create and analyze the overall adoption of wearable medical device. An exhaustive secondary research was conducted to collect the historical market of the technology and overall estimation of the current market. Secondly, to validate these insights, numerous findings and assumptions were taken into consideration. Moreover, exhaustive primary interviews were conducted with industry experts across value chain of the wearable medical devices. After all the assumption, market sizing and validation of market numbers through primary interviews, top-down approach was employed to forecast the market size of global wearable medical device technology. Thereafter, market breakdown and data triangulation methods were adopted to estimate and analyze the future market size of segments and sub-segments of the technology. Detailed methodology is explained below:

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Analysis of Historical Market Size

Step 1: In-Depth Study of Secondary Sources:

Detail secondary study was conducted to obtain the historical market size of the Global Wearable Medical Device Market through company internal sources such as annual report & financial statements of top players, performance presentations, press releases, inventory records etc. and external sources including trade journals, news & articles, government publications, economic data, competitor publications, sector reports, regulatory bodies publications, safety standard organizations, third-party database and other creditable publications. For economic data collection, sources such as World Bank, CDC, European Commission (EC), and WHO, OECD among others were used.

Step 2: Market Segmentation:

After obtaining historical market size of the overall market, detailed secondary analysis was done to gather historical market insights and share for different segments & sub-segments of the Global wearable medical device. Major segments included in the report are product type, device type, application, and distribution channel. Further analysis was also done for sub-segments of the major segments of wearable medical devices.

Step 3: Factor Analysis:

After acquiring the historical market size of different segments and sub-segments, detailed factor analysis was conducted to estimate the current market size of the Global wearable medical device. Factor analysis was conducted using dependent and independent variable such as Global incidence and prevalence of chronic diseases, rise in geriatric population and consumer behavior while purchasing wearable medical devices etc. Historical trends of the Global wearable medical device and their year-on-year impact on the market size and share in the recent past was analyzed. Demand and supply side scenario was also thoroughly studied.

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Current Market Size Estimate & Forecast

Current Market Sizing: Based on actionable insights from the above 3 steps, we arrived at current market size, key players in major applications and markets, market shares of these players, industry’s supply chain, and value chain of the industry. All the required percentage shares, splits, and market breakdowns were determined using the above-mentioned secondary approach and were verified through primary interviews.

Estimation & Forecasting: For market estimation and forecast, weightage was assigned to different factors including market dynamics such as drivers, restraints, and trends. After analyzing these factors, relevant forecasting techniques i.e. Bottom-up/Top-down was applied to arrive at the market forecast pertaining to 2025 for different segment and sub-segments in different region/country. The research methodology adopted to estimate the market size encompasses:

  • The industry’s market size, in terms of value and rate of adoption of wearable medical device in Globally
  • All percentage shares, splits, and breakdowns of market segments and sub-segments
  • Key players in major applications and markets as well as market share of each players. Also, the growth strategies adopted by these players to compete in the ever-growing Global wearable medical device market


Market Size and Share Validation

Primary Research: In-depth interviews were conducted with the Key Opinion Leaders (KOLs) including Top Level Executives (CXO/VPs, Sales Head, Marketing Head, Operational Head, and Regional Head etc.). Primary research findings were summarized, and statistical analysis was performed to prove the stated hypothesis. Input from primary research were consolidated with secondary findings, hence turning information into actionable insights.

Split of Primary Participants

Wearable Medical Device Market 4
Wearable Medical Device Market 4

SPEAK TO ANALYST

Market Engineering

Data triangulation technique was employed to complete the overall market engineering process and to arrive precise statistical numbers of each segment and sub-segment pertaining to the Global wearable medical device market. Data was split into several segments & sub-segments post studying various parameters and trends in the areas of wrist band, smart clothing, watches, footwear, application type, device type, and regions such as North America, Europe, Asia-Pacific and Rest of World

Main objective of the Wearable Medical Device Market Study

The current & future market trends of the Global wearable medical device market are highlighted in the report. Investors can gain strategic insights to base their discretion for investments from the qualitative and quantitative analysis performed in the Global Wearable device market study. The current and future market trends would determine the overall attractiveness of the market, providing a platform for the industrial participant to exploit the untapped market to benefit as the first mover advantage. Other quantitative goals of the studies include:

  • Analyse the current and forecast market size of Global Wearable device market in terms of value (US$)
  • Analyse the current and forecast market size of different segments and sub-segments of the technology. Segments in the study include device type, product type, applications, distribution channel and region/country
  • Define and describe the technologies
  • Analyze the overall healthcare sector in different region/country and anticipate potential risk associated with the technology
  • Define and analyze the government regulations for Wearable medical devices in major markets
  • Define and analyses the competitive landscape of the Global Wearable medical device market and the growth strategies adopted by the key market players to sustain in the ever-growing market
  • Detail analysis of the factors that drive the wearable medical device market, along with available opportunities for the market players

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