Selbyville, Delaware, Nov. 19, 2020 (GLOBE NEWSWIRE) -- According to seasoned analysts, worldwide wearable medical devices market is projected to reach a valuation of USD 85.6 billion by the year 2027. Growing health consciousness among people owing to rising prevalence of lifestyle diseases is a major growth driver for the industry. In fact, the number of diabetic patients worldwide is expected to hit 640 million by 2040, claims the International Diabetes Federation (IDF).
The authors of the report have classified the industry into various segments based on the device type, site, and application scope. These segments are exhaustively studied, incorporating estimates and forecasts at regional and country level to help industry partakers identify the top investment pockets. Furthermore, the research literature offers in-depth profiles of all the leading organizations, together with their strategies to help readers grasp a better understanding of the competitive trends.
Wearable medical devices are autonomous devices worn by individuals as a body accessory or are embedded in cloth or shoes, which offer medical/fitness support and monitoring over a time period. Medical wearables offer point-of-care testing and remote management for disabled and chronically ill individuals. They feature wireless transmission, non-invasive sensors, real-time data processing, and provide medical feedback. Recent additions to these devices include decision support systems and alert mechanisms. Hence, continuous technological advancements in tandem with medical innovations are bound to augment global wearable medical devices industry growth.
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For the record, Stanford Healthcare Innovation Lab formed a team to study impact of wearable in tracking infectious diseases. In another major development, in April of 2020, DETECT was launched by Scripps Research Translational Institute in a bid to gather data from activity trackers and smart watches which would then be integrated into public health surveillance program to facilitate disease tracking and population health programs. Such initiatives are likely to accelerate global wearable medical devices market expansion in the upcoming years.
Competitive landscape:
Players in global wearable medical devices industry are shifting focus towards manufacturing low cost wearable devices to secure a foothold in untapped areas. For instance, Muse Wearables, based in India, is manufacturing wrist wearable tracker at an affordable pricing of INR 3,500 that can monitor blood O2 saturation levels, skin temperature, and heart rate to diagnose COVID-19 symptoms in early stages.
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Global Wearable Medical Devices Market Device Type (Revenue, USD Million, 2016-2027)
Diagnostic Devices
Vital Sign Monitoring Devices
- Heart Rate Monitors
- Electrocardiographs
- Activity Monitors
- Blood Pressure Monitors
- Pulse Oximeters
- Spirometers
- Others
Sleep Monitoring Devices
- Wrist Actigraphs
- Sleep trackers
- Polysomnographs
- Others
Neuromonitoring Devices
- Electroencephalographs
- Electromyographs
- Others
Electrocardiographs Fetal and Obstetric Devices
Therapeutic Devices
Pain Management Devices
- Neurostimulation Devices
- Others
Rehabilitation Devices
- Accelometers
- Ultrasound Platform
- Sensing Devices
- Others
Insulin/Glucose Monitoring Devices
- Insulin Pumps
- Others
Respiratory Therapy Devices
- Ventilators
- Portable Oxygen Concentrators
- Positive Airway Pressure (PAP) Devices
- Others
Global Wearable Medical Devices Market Site Sub-Segments (Revenue, USD Million, 2016-2027)
- Headband
- Handheld
- Shoe Sensors
- Strap/Clip/Bracelet
- Others
Global Wearable Medical Devices Market Application Spectrum (Revenue, USD Million, 2016-2027)
- Home Healthcare
- Remote Patient Monitoring
- Sports and Fitness
Global Wearable Medical Devices Market Regional Bifurcation (Revenue, USD Million, 2016-2027)
North America
- United States
- Canada
Europe
- United Kingdom
- Germany
- France
- Spain
- Italy
- Austria
- Netherlands
Asia Pacific
- India
- China
- Malaysia
- Indonesia
- South Korea
- Japan
Middle East & Africa
- UAE
- Saudi Arabia
- Israel
- South Africa
Latin America
- Brazil
- Mexico
- Argentina
Global Wearable Medical Devices Market Competitive Dashboard (Revenue, USD Million, 2016-2027)
- VivaLNK
- Verily Life Sciences
- VitalConnect
- Biobeat Technologies Ltd.
- DexCom, Inc.
- Apple, Inc.
- BioTelemetry, Inc.
- Koninklijke Philips N.V.
- Medtronic plc
- Omron Corp.
Table of Contents
1. Introduction
1.1. Report Description
1.2. Stakeholders
2. Executive Summary
2.1. Market Highlights
3. Research Methodology
3.1. Overview
3.1.1. Data Mining
3.2. Data Sources
3.2.1. Primary Sources
3.2.2. Secondary Sources
4. Wearable Medical Devices Market Insights
4.1. Wearable Medical Devices - Industry snapshot
4.2. Wearable Medical Devices Market Dynamics
4.2.1. Drivers and Opportunities
4.2.1.1. Technological advancements in wearable devices
4.2.1.2. Increasing awareness about physical fitness
4.2.2. Restraints and Challenges
4.2.2.1. Data Security
4.2.3.2. Threats of New Entrants: (Low)
4.2.3.3. Bargaining Power of Buyers (Moderate)
4.2.3.4. Threat of Substitute (Moderate)
4.2.3.5. Rivalry among existing firms (High)
4.2.4. PESTLE Analysis
4.2.5. Wearable Medical Devices Market Industry trends
5. Wearable Medical Devices Market Assessment by Device Type
5.1. Key Findings
5.2. Introduction
5.2.1. Global Wearable Medical Devices Market, By Device Type, 2016 - 2027 (USD Million)
5.3. Diagnostic Devices
5.3.1. Vital Sign Monitoring Devices
5.3.1.1. Heart Rate Monitors
5.3.1.2. Activity Monitors
5.3.1.3. Electrocardiographs
5.3.1.4. Pulse Oximeters
5.3.1.5. Spirometers
5.3.1.6. Blood Pressure Monitors
5.3.1.7. Others
5.3.2. Sleep Monitoring Devices
5.3.2.1. Sleep trackers
5.3.2.2. Wrist Actigraphs
5.3.2.3. Polysomnographs
5.3.2.4. Others
5.3.3. Electrocardiographs Fetal and Obstetric Devices
5.3.4. Neuromonitoring Devices
5.3.4.1. Electroencephalographs
5.3.4.2. Electromyographs
5.3.4.3. Others
5.4. Therapeutic Devices
5.4.1. Pain Management Devices
5.4.1.1. Neurostimulation Devices
5.4.1.2. Others
5.4.2. Insulin/Glucose Monitoring Devices
5.4.2.1. Insulin Pumps
5.4.2.2. Others
5.4.3. Rehabilitation Devices
5.4.3.1. Accelometers
5.4.3.2. Sensing Devices
5.4.3.3. Ultrasound Platform
5.4.3.4. Others
5.4.4. Respiratory Therapy Devices
5.4.4.1. Ventilators
5.4.4.2. Positive Airway Pressure (PAP) Devices
5.4.4.3. Portable Oxygen Concentrators
5.4.4.4. Others
6. Wearable Medical Devices Market, by Site
6.1. Key Findings
6.2. Introduction
6.2.1. Global Wearable Medical Devices Market, By Site, 2016 - 2027 (USD Million)
6.3. Handheld
6.3.1. Global Wearable Medical Devices Market, by Handheld, By Region, 2016- 2027 (USD Million)
6.4. Headband
6.4.1. Global Wearable Medical Devices Market, by Headband, by Region, 2016- 2027 (USD Million)
6.5. Strap/Clip/Bracelet
6.5.1. Global Wearable Medical Devices Market, by Strap/Clip/Bracelet, by Region, 2016- 2027 (USD Million)
6.6. Shoe Sensors
6.6.1. Global Wearable Medical Devices Market, by Shoe Sensors, by Region, 2016- 2027 (USD Million)
8. Wearable Medical Devices Market Assessment by Geography
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Implantable Medical Devices Market Size, Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2019 - 2025
Implantable Medical Devices Market is expected to exceed USD 138.5 billion by 2025, as per new research report. Technological advancements and new product developments will drive implantable medical devices market growth. Rising geriatric population and increasing multitude of neurological and cardiological disorders worldwide will result in significant number of patients requiring implantable medical devices. According to the Centers for Disease Control and Prevention, one person dies every second from some form of cardiovascular disorder in the U.S. Certain disorders cannot be mitigated through medication alone, therefore implantable medical devices that provide faster recovery and better outcomes are being rapidly adopted. Thousands of people are enhancing their quality of life by adoption of implantable medical devices through surgical intervention, that will further significantly contribute towards the growth of the market over the projected years.
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