According to the report “Wearable Medical Devices Market by Type (Diagnostic Wearable Devices, Therapeutic Wearable Devices), Application (Sports and Fitness, Home Healthcare and Patient Monitoring), and by Region – Global Industry Analysis, Size, Share, Growth, Trends, and Forecasts (2015–2020)”, published by Market Data Forecast, the global market is projected to reach USD 11.18 Billion by 2021, at a CAGR of 19.58% from 2015 to 2020.
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Wearable medical devices are the most advanced user friendly diagnostic devices which provide facilities like alerting mechanism, data transmission, easy and timely sensing abilities and real time feedback. These devices offer a solution to regular checkups as they can diagnose blood glucose level, heart rate, brain activities, hydration, temperature and more. Upcoming smart technologies like Wearable devices are the key to optimal operation of society in the future.
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Healthcare is a sector with multifarious innovations and developments. Rising incomes, increasing incidences of chronic diseases and the ease of using advanced medical devices are some of the key factors which drive the market. The wearable medical devices have large market opportunities in the consumer fitness field but they face a lot of competition with gadgets providing greater reliability in health management.
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Product Segmentation:
Based on Application:
• Home healthcare
• Patient monitoring
• Sports and Fitness
Based on Type:
• Diagnostic Wearable devices
– Fetal Monitors and Obstetric Devices
– Wearable Vital Sign Monitors
– Sleep Monitoring Devices
– Neuro-monitoring Devices
• Therapeutic Wearable Devices
– Wearable Pain Management Devices
– Wearable Respiratory Therapy Devices
– Glucose Monitoring Devices
Geographical Segmentation:
• North America
• Europe
• Asia-Pacific
• Latin America
• Middle East and Africa
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Key Players in the market are Basis Science, Nuubo, Philips Electronics, Polar Electro, Intelensens Ltd., Coventis Inc., Fitbit Inc., Draeger, Everist Genomics Inc., Lifewatch Ag, Polar Electro, Omron Corporation, Sotera Wireless Inc., Zephyr Technology and Withings.
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