Wearable Medical Devices Market, 2025: Rising Prevalence of Chronic Diseases, Increasing Geriatric Population & Rising Awareness Regarding Fitness
DUBLIN, Nov 21, 2018
DUBLIN, Nov 21, 2018 /PRNewswire/ --
The "Wearable Medical Devices Market to 2025- Global Analysis and Forecasts Device Type, Application and Geography" report has been added to ResearchAndMarkets.com's offering.
The global wearable medical devices market is expected to reach US$ 23,310.9 Mn in 2025 from US$ 6,231.7 Mn in 2017. The market is estimated to grow with a CAGR of 18.1% from 2018-2025.
The growth of the wearable medical devices market is primarily attributed to rising awareness regarding importance of fitness. Moreover, the rapid growth of pharmaceutical and biotechnology industry is also expected to drive the growth of wearable medical devices market. However, constant product recalls is expected to obstruct the growth of wearable medical devices market. On the other hand, the growing use of diagnostic & monitoring devices is expected to drive the market in the future years. Wearable devices are known to help in the early diagnosis of various diseases.
These devices are able to record basic health parameters such as, heart rate monitoring, blood pressure monitoring and tracking the daily activities. Wearable devices help in reducing the frequent visits to physicians as the patients are able to diagnose the cause of symptoms by themselves. There have been developments in the wearable devices meant for diagnosis and monitoring purposes. Wearable devices are also being used for monitoring the blood glucose levels in an individual. With a rise in the cases of diabetes across the globe, the demand for the segment is expected to witness significant demand during the forecast period.
Global wearable medical devices market, based on the device type was segmented into diagnostic & monitoring devices and therapeutic devices. In 2017, diagnostic & monitoring devices segment held the largest share by the market, by device type. This is mainly attributed to the rise in the prevalence of chronic illnesses, leading to an increased awareness regarding maintaining good health.
Global wearable medical devices market, based on application was segmented into home healthcare, remote patient monitoring and sports & fitness. In 2017, sports & fitness segment held the largest share of market, by application. However, the remote patient monitoring segment is anticipated to grow at a significant rate during the forecast period.
Key Topics Covered:
2. Global Wearable Medical Devices Market - Key Takeaways
3. Global Wearable Medical Devices Market - Market Landscape
3.2 Market Segmentation
3.3 Pest Analysis
4. Global Wearable Medical Devices Market - Key Market Dynamics
4.1 Key Market Drivers
4.1.1 Rising Prevalence of Chronic Diseases
4.1.2 Increasing Geriatric Population
4.1.3 Rising Awareness Regarding Fitness
4.2 Key Market Restraints
4.2.1 Unaddressed Regulatory Concerns
4.2.2 Constant Product Recalls In the Market
4.3 Key Market Opportunities
4.3.1 Rising Demand In Home Healthcare
4.3.2 Promotion of Wearable Devices by Insurance Providers and Other Corporations
4.4 Future Trends
4.4.1 Rise In the Use of Smart Apparels
4.5 Impact Analysis
5. Wearable Medical Devices Market - Global Analysis
5.1 Wearable Medical Devices Market Revenue Forecasts and Analysis
5.2 Global Wearable Medical Devices Market, by Geography - Forecasts and Analysis
5.3 Performance of Key Players
5.3.1 Fitbit, Inc
5.3.2 Apple, Inc.
5.4 Expert Opinions
6. Global Wearable Medical Devices Market Analysis- by Device Type
6.2 Diagnostic & Monitoring Devices Market
6.2.2 Global Diagnostic & Monitoring Devices Market Revenue and Forecasts To 2025 (US$ Mn)
6.2.3 Vital Signs Monitoring Devices Market
6.2.4 Glucose Monitoring Devices Market
6.2.5 Sleep Monitoring Devices Market
6.2.6 Other Diagnostic & Monitoring Devices Market
6.3 Therapeutic Devices Market
6.3.2 Global Therapeutic Devices Market Revenue and Forecasts To 2025 (US$ Mn)
6.3.3 Pain Management Devices Market
6.3.4 Rehabilitation Devices Market
6.3.5 Respiratory Therapy Devices Market
6.3.6 Insulin Pumps Market
7. Global Wearable Medical Devices Market Analysis-By Application
7.2 Sports & Fitness Market
7.3 Remote Patient Monitoring Market
7.4 Home Healthcare Market
8. North America Wearable Medical Devices Market Revenue and Forecasts To 2025
9. Europe Wearable Medical Devices Market Revenue and Forecasts To 2025
10. Asia Pacific Wearable Medical Devices Market Revenue and Forecasts To 2025
11. Middle East An Africa Wearable Medical Devices Market Revenue and Forecasts To 2025
12. South and Central America Wearable Medical Devices Market Revenue and Forecasts To 2025
13. Wearable Medical Devices Market - Industry Landscape
13.2 Growth Strategies In the Wearable Medical Devices Market, 2015-2018
13.3 Organic Growth Strategies
13.3.2 Product Launch
13.3.3 Product Enhancement & Software Upgradation
13.3.4 Area Expansion
13.4 Inorganic Growth Strategies
14. Wearable Medical Devices Market - Key Company Profiles
- Xiaomi Technology Co., Ltd
- Samsung Electronics Co. Ltd.
- Fitbit, Inc.
- Garmin Corporation
- Apple Inc.
- Huawei Technologies Co., Ltd.
- Polar Electro
- OMRON Corporation
- Activinsights Ltd.
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