Dublin, Oct. 06, 2023 (GLOBE NEWSWIRE) -- The "Wearable Medical Device Market - Market Size & Forecast to 2032" report has been added to ResearchAndMarkets.com's offering.
The global wearable medical device market has experienced substantial growth in recent years, reaching a valuation of $28.97 billion in 2022. Projections indicate that the market will continue to expand, with an expected valuation of $325.72 billion by 2032, exhibiting an impressive compound annual growth rate (CAGR) of 27.43% from 2023 to 2032.
Market Overview
The global wearable medical device market encompasses devices designed specifically for medical and healthcare purposes. These devices are equipped with sensors, connectivity features, and advanced technology to monitor various health parameters and provide real-time data to both healthcare professionals and individuals.
Driving Factors
Several factors are driving the growth of the wearable medical device market:
- Prevalence of Chronic Diseases: The increasing prevalence of chronic diseases worldwide necessitates continuous health monitoring, which wearable medical devices can provide.
- Growing Geriatric Population: The aging global population is more susceptible to chronic illnesses and requires ongoing health monitoring, making wearable devices crucial.
- Demand for Home Healthcare Solutions: Wearable medical devices enable home-based healthcare, reducing the need for frequent hospital visits.
- Advancements in Technology: Ongoing advancements in miniaturization, sensor technology, and wireless connectivity are enhancing the capabilities of wearable medical devices.
Applications
Wearable medical devices have a wide range of applications, including vital sign monitoring, glucose monitoring, cardiac monitoring, sleep tracking, activity tracking, medication adherence, and pain management. They offer real-time health monitoring, early detection of medical conditions, and enable remote patient management by healthcare professionals.
Geographical Segmentation
The global wearable medical device market is segmented geographically into:
- North America: Including the United States and Canada.
- Europe: Encompassing the United Kingdom, France, Germany, Italy, Spain, Denmark, Netherlands, Sweden, Norway, and the rest of Europe.
- Asia-Pacific: Covering China, Japan, India, South Korea, Australia, Malaysia, Thailand, Vietnam, and the rest of Asia-Pacific.
- Latin America: Incorporating Brazil, Mexico, Argentina, Colombia, and the rest of Latin America.
- Middle East & Africa: Encompassing the UAE, Saudi Arabia, South Africa, and the rest of the Middle East & Africa.
Companies Mentioned
- Fitbit Inc.
- Xiaomi Technology Co. Ltd
- Samsung Electronics Co. Ltd.
- Huawei Technologies Co. Ltd.
- Garmin Corporation
- Apple Inc.
- Polar Electro
- Activinsights Ltd.
- Omron Corporation
- Vitalconnect
- Philips
- Lifewatch
- Dragerwerk
- Nokia Technologies
- Jawbone
- World Global Network
- Misfit
- Monica Healthcare
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 80 |
| Forecast Period | 2019 - 2032 |
| Estimated Market Value (USD) in 2019 | $12.18 Billion |
| Forecasted Market Value (USD) by 2032 | $325.72 Billion |
| Compound Annual Growth Rate | 27.4% |
| Regions Covered | Global |
Key Topics Covered:
1. Market Abstract
2. Market Introduction
3. Research Practice
4. Key Related Data
4.1 Regulatory Framework
4.2 Diagnostics Device Market Overview
4.3 Wearable Medical Device Market - Major Revenue Pockets
4.4 Refurbished Wearable Medical Device- Market Scenario
4.5 New Techologies
4.6 Chronic Diseases - Global Data & Outlook
4.6.1 Hypertension
4.6.2 Diabetes
4.6.3 Cardiac
4.6.4 Arthritis
4.6.5 Multiple Sclerosis
4.6.6 Hiv/Aids
4.6.7 Others
5. Impact Factor Analysis
5.1 Micro Economic Pointers
5.2 Macro Economic Pointers
5.3 Porter's Five Force Model/ PESTLE Analysis/ Value Chain Analysis
5.4 Drivers/Restraints/Opportunities/Challenges
6. Market Development Analysis
6.1 New Product Development/ Launch (2017-2022)
6.2 Mergers and Acquisitions (2017-2022)
6.3 Partnerships / Agreements/Collaborations (2017-2022)
7. Wearable Medical Device Market, by Product
8. Wearable Medical Device Market, by Distribution Channel
9. Wearable Medical Device Market, by Application
10. Wearable Medical Device Market, Regional Analysis, Value (Usd Million), Volume (Units)
11. Global Wearable Medical Device Market, Competitive Intelligence
12. Wearable Medical Device Market, Major Companies
13. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/sr03xj
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