Wearable

The “Wearable Medical Devices Market” report 2019-2024 is a proficient and in-depth research report on the world’s major regional market conditions, focusing on the main regions. Wearable Medical Devices market report offers an extensive analysis of Wearable Medical Devices industry to guide market players, new entrants and investors to get opinion of Wearable Medical Devices industry. Wearable Medical Devices market report comprises the market size, share, types, applications, market dynamics, latest trends, and company profiles.

Scope of the Report:

  • Wearable medical devices are capable of diagnosing or monitoring medical conditions, combined with digital health information, typically worn over the body. The demand for wearable medical devices and remote patient monitoring are continuously increasing in the global market, where technological advancements, innovations, and rising disposable income, along with healthcare expenditure and better healthcare management using medical devices are among the major drivers. Some of the significant barriers of growth in this market include the high cost of wearable devices that varies as per the application, reimbursement issues, and lack of awareness in low- and middle-income countries.

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    Market Overview:

  • The growth of the global wearable medical devices market is due to the increasing technological advancements and innovations, as it can improve the lifestyle of patients, as well as the general population. Currently, these devices are gaining immense popularity, due to improved technologies that are being introduced every day by key market players.
  • Additionally, ease-of-use and interpretation of medical devices and increasing per-capita income in developing countries are the other important factors responsible for the growth of the market.
  • Less attractive reimbursement for wearable devices and lack of awareness among people are hindering the growth of the market. Additionally, the cost of wearable devices is one of the major challenges for the growth prospects of the market.

    Top Key Players of Wearable Medical Devices Market Report Are:

  • Garmin Ltd
  • Apple Inc.
  • Fitbit
  • Lifesense
  • LifeWatch AG
  • Philips Electronics
  • Samsung
  • Sotera Wireless
  • Xiaomi Inc.

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    Key Market Trends:

    Remote patient monitoring is expected to exhibit the fastest growth rate over the forecast period

    The rise in the number of people with chronic medical conditions and increase in geriatric population are the major factors driving the growth of remote patient monitoring (RPM) services all over the world. The RPM also called homecare telehealth, is a process in which patients can use a mobile medical device to perform a routine test and send this data to healthcare professionals in real time.

    Implementation of RPM can improve the management of chronic diseases by measuring critical risk indicators, such as glucose, blood pressure, etc. RPM has various benefits for end users and hospitals, such as low cost of healthcare, reduction in extended hospitalization, and fewer doctor appointments, among others. This can also help to reduce the cost associated with the treatment of chronic diseases.

    North America captured the largest market share and is expected to retain its dominance

    North America dominated the overall wearable medical devices market, with the United States emerging as the major contributor to the market. The United States holds the largest share in the global wearable medical devices market, primarily attributed to the early adoption of wearable medical technology and high prevalence of cardiovascular and lifestyle-related diseases, along with high per capita medical expenditure. Apart from these factors, the presence of a large pool of mid- and large-sized device manufacturers also supplements the large market share. Favorable laws for setting up a business and robust intellectual property rights environment acted as catalysts for the growth for many wearable medical device startups, many of which are now global players.

    Wearable Medical Devices Market Report Answers Following Questions:

    • What are the important R&D (Research and Development) factors and data identifications to responsible for rising market share?
    • What are future investment opportunities in the in Wearable Medical Devices Devices landscape analyzing price trends?
    • Which are most dynamic companies with ranges and recent development within Wearable Medical Devices Devices Market till 2024?
    • In what way is the market expected to develop in the forthcoming years?
    • What are the principle issues that will impact development, including future income projections?
    • What are market opportunities and potential risks associated with Wearable Medical Devices Devices by analyzing trends?

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    Detailed TOC of Wearable Medical Devices Market Report 2019-2024:

    1 INTRODUCTION
    1.1 Study Deliverables
    1.2 Study Assumptions
    1.3 Scope of the Study

    2 RESEARCH METHODOLOGY

    3 EXECUTIVE SUMMARY

    4 MARKET DYNAMICS
    4.1 Market Overview
    4.2 Introduction to Market Drivers and Restraints
    4.3 Market Drivers
    4.3.1 Increasing Technological Advancements and Innovations
    4.3.2 Increasing Per-capita Income in Developing Countries
    4.3.3 Ease-of-use and Interpretation of Medical Devices
    4.4 Market Restraints
    4.4.1 High Cost of Wearable Devices
    4.4.2 Unfavorable Reimbursement Issues
    4.4.3 Current Lack of Awareness in Some Regions
    4.5 Industry Attractiveness- Porter’s Five Forces Analysis
    4.5.1 Threat of New Entrants
    4.5.2 Bargaining Power of Buyers/Consumers
    4.5.3 Bargaining Power of Suppliers
    4.5.4 Threat of Substitute Products
    4.5.5 Intensity of Competitive Rivalry

    5 MARKET SEGMENTATION
    5.1 Product Type
    5.1.1 Wearable Vital Sign Monitor
    5.1.1.1 Wearable Heart Rate Monitor
    5.1.1.2 Wearable Activity Monitor
    5.1.1.3 Wearable Electrocardiograph
    5.1.1.4 Wearable Sleep Monitor
    5.1.2 Wearable Fetal Monitor and Obstetric Device
    5.1.3 Neuro-monitoring Device
    5.1.3.1 Electroencephalograph
    5.1.3.2 Electromyograph
    5.1.3.3 Pain Management Wearable Medical Device
    5.1.3.4 Glucose/Insulin Monitoring Wearable Device
    5.1.3.5 Respiratory Therapy Wearable Device
    5.2 Application
    5.2.1 Sports and Fitness
    5.2.2 Remote Patient Monitoring
    5.2.3 Home Healthcare
    5.3 Device Type
    5.3.1 Watch
    5.3.2 Wristband
    5.3.3 Clothing
    5.3.4 Ear Wear
    5.3.5 Other Device Types
    5.4 Geography
    5.4.1 North America
    5.4.1.1 United States
    5.4.1.2 Canada
    5.4.1.3 Mexico
    5.4.2 Europe
    5.4.2.1 United Kingdom
    5.4.2.2 Germany
    5.4.2.3 France
    5.4.2.4 Italy
    5.4.2.5 Spain
    5.4.2.6 Rest of Europe
    5.4.3 Asia-Pacific
    5.4.3.1 China
    5.4.3.2 Japan
    5.4.3.3 India
    5.4.3.4 Australia
    5.4.3.5 South Korea
    5.4.3.6 Rest of Asia-Pacific
    5.4.4 Middle East & Africa
    5.4.4.1 GCC
    5.4.4.2 South Africa
    5.4.4.3 Rest of Middle East & Africa
    5.4.5 South America
    5.4.5.1 Brazil
    5.4.5.2 Argentina
    5.4.5.3 Rest of South America

    6 COMPETITIVE LANDSCAPE
    6.1 Company Profiles
    6.1.1 Garmin Ltd
    6.1.2 Apple Inc.
    6.1.3 Fitbit
    6.1.4 Lifesense
    6.1.5 LifeWatch AG
    6.1.6 Philips Electronics
    6.1.7 Samsung
    6.1.8 Sotera Wireless
    6.1.9 Xiaomi Inc.

    7 MARKET OPPORTUNITIES AND FUTURE TRENDS

     

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