Wearable Medical Devices Market To Hit Smashing Growth focusing on Top Companies | Hocoma, Withings, Xiaomi, Fitbit, Inc., Polar Electro
Wearable Medical Devices Market is the most relevant, unique, fair and creditable global market research report which is provided to the valuable customers and clients depending upon their specific business needs. It helps customers or other market participants to be aware of the problems they may face while operating in the industry over a longer period of time. The market data is analysed and forecasted using well established market statistical and coherent models. Wearable Medical Devices Market report is generated based on the market type, size of the organization, availability on-premises, the end-users’ organization type, and the availability in areas such as North America, South America, Europe, Asia-Pacific and Middle East & Africa.
Systemic company profiles covered in international Wearable Medical Devices Market business report shows what are the recent developments, product launches, joint ventures, mergers and acquisitions are taking place by the several key players and brands that are driving the market. This market research report studies and analyses facts and figures about the market segmentation very carefully and represent it in the form of graphs for the better understanding of end user. This report is generated by keeping in mind all the necessities of the businesses required for achieving a successful business growth. The competitive landscape section of the first class Wearable Medical Devices Market report provides a clear insight into the market share analysis and actions of key industry players.
Wearable medical devices market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 19.6% in the forecast period of 2020 to 2027 and is expected to reach USD 79,945.89 million by 2027 from USD 19,347.69 million in 2019. Rising awareness towards early disease diagnosis and technological advancement in wearable medical devices are the major drivers which propelled the demand of the market in the forecast period.
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Key Benefits of Buying the Report
The report identifies and addresses the key markets for Wearable Medical Devices Market operations and services, which would help equipment manufacturers and service providers review the growth in demand.
The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
The report will help key players understand the strategies of their competitors better and help the min making better strategic decisions.
- Sotera Wireless, Inc.,
- Bio- Beat,
- Guangdong Transtek Medical Eletronics Co., Ltd.,
- Fitbit, Inc.,
- Polar Electro,
- Omron Healthcare, Inc.,
- Apple Inc., Garmin Ltd.,
- Activinsights Ltd. ,
- Bio Telemetry, Inc.,
- Koninklijke Philips N.V.,
- iRhythm Technologies, Inc.,
- Dexcom, Inc. and Huawei Device Co., Ltd. among other domestic and global players.
Many product launch and agreement are also initiated by the companies’ worldwide which are also accelerating the wearable medical devices market.
Competitive Landscape and Wearable Medical Devices Market Share Analysis
Wearable medical devices market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, production sites and facilities, company strengths and weaknesses, product launch, product trials pipelines, product approvals, patents, product width and breath, application dominance, technology lifeline curve. The above data points provided are only related to the company’s focus related to wearable medical devices market.
- In May 2020, Koninklijke Philips N.V. underwent licencing agreement with Masimo in order to bring the two solutions named Masimo NomoLine Capnography and O3 Regional Oximetry by Masimo in its patient monitoring portfolio. This agreement by Koninklijke Philips N.V. increased its product portfolio and technological advancement leading to increased demand in the market.
- In August 2019, SAMSUNG launched its new product named Galaxy watch Active 2 under Armour edition in collaboration with Under Armour Inc. for enhancing fitness tracking during running. This new product launched by SAMSUNG increased its product portfolio of smart wearables leading to increased sales and market in future.
Collaboration, joint ventures and other strategies by the market player is enhancing the company market in the wearable medical devices market which also provides the benefit for organisation to improve their offering for medical devices.
Wearable medical devices are all those devices that help in disease diagnosis and monitoring to protect people from damage of long-term chronic disease. These devices play an important role in remote monitoring of patients in health centers or at home by tracking the vital signs such as heart rate, pulse rate, ECG and sleep cycle among others. Regulatory bodies regulate the wearable medical devices to demarcate them from normal consumer electronics. Wearable medical devices demand has increased as compared to the precise year with increased demand of minimally invasive and contactless diagnostic and therapeutic uses of wearable medical devices along with introduction of increased technologically advanced wearable medical devices. In addition demand of wearable medical devices has increased because of increasing health consciousness among people across world. Further high cost of wearable medical devices is expected to restraint the usage of wearable medical devices and is expected to slow down the growth of the wearable medical devices market in the forecasted period.
The wearable medical devices market report provides details of market share, new developments, and product pipeline analysis, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, product approvals, strategic decisions, product launches, geographic expansions, and technological innovations in the market.
Global Wearable Medical Devices Market Scope and Market Size
Wearable medical devices market is segmented on the basis of type, site, device and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- On the basis of type, the wearable medical devices market is segmented into diagnostic devices and therapeutic devices. In 2020, diagnostic devices are dominating in the market as it has been used in broad range of applications ranging from cardiac health, obesity, Diabetes care, Pain management among more.
- On the basis of site, the wearable medical devices market is segmented into headband, handheld, arm & wrist, clip, shoe sensor, others. In 2020, handheld, arm & wrist segment is dominating the market due to availability of vast product portfolio of handheld, arm and wrist devices used to monitor vital signs thereby predicting any fluctuation from normal condition in humans.
- On the basis of device, the wearable medical devices market is segmented into wristwatch/wristband, smart clothing, smartwatch, ear wear. In 2020, wristband/wristwatches devices are dominating the market owing to maximum adoption of wearable devices which can be worn on wrist due to increased preference for them by people of all age group.
- On the basis of application the wearable medical devices market is segmented into cardiac health, obesity, diabetes care, fitness monitoring, sleep tracking. In 2020, fitness monitoring segment is dominating the market as wearable medical devices are increasingly adopted by sportsperson in order to track their fitness at regular intervals.
Wearable Medical Devices Market Country Level Analysis
The wearable medical devices market is analysed and market size information is provided by type, site, device and application.
The countries covered in the wearable medical devices market report are the U.S., Canada, Mexico, Germany, U.K., France, Italy, Spain, Switzerland, Netherlands, Belgium, Russia, Turkey, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Thailand, Malaysia, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, U.A.E., Israel, Egypt, Rest of Middle East and Africa.
North America is expected to dominate the market due to the high adoption of wearable medical devices for the diagnosis of chronic diseases in the region and Asia-Pacific is expected to growth with the highest CAGR in the forecasted periods due to increasing number of research and development along with clinical trials in the region. U.S is dominating in the market and leading the growth in the North America market due to increasing adoption of wearable medical for lowering dependence of patients on hospitals for routine diagnosis. The Asia-Pacific region is expected to grow with the second highest growth rate in the forecast period of 2020 to 2027 because of increasing awareness regarding minimal invasive nature of the diagnostic wearable devices. China is dominating in Asia-Pacific market due to increased demand for remote monitoring due to growing geriatric population. Europe is expected to grow with the promising growth rate in the forecast period of 2020 to 2027 due to introduction of innovative technological advanced wearable devices and increasing in the geriatric population in the region. Germany is dominating the European market with the surging demand for wearable therapeutic and diagnostic devices among people.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as new sales, replacement sales, country demographics, regulatory acts and import-export tariffs are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of sales channels are considered while providing forecast analysis of the country data.
TABLE OF CONTENTS
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: MARKET LANDSCAPE
• Market ecosystem
• Market characteristics
• Market segmentation analysis
PART 05: PIPELINE ANALYSIS
• Pipeline analysis
PART 06: MARKET SIZING
• Market definition
• Market sizing
• Market size and forecast
PART 07: FIVE FORCES ANALYSIS
• Bargaining power of buyers
• Bargaining power of suppliers
• Threat of new entrants
• Threat of substitutes
• Threat of rivalry
• Market condition
PART 08: MARKET SEGMENTATION
• Market opportunity
PART 09: CUSTOMER LANDSCAPE
PART 10: REGIONAL LANDSCAPE
• Geographical segmentation
• Regional comparison
• North America
• South America
• Market opportunity
PART 11: DECISION FRAMEWORK
PART 12: DRIVERS AND CHALLENGES
• Market drivers
• Market challenges
PART 13: MARKET TRENDS
PART 14: VENDOR LANDSCAPE
• Landscape disruption
PART 15: VENDOR ANALYSIS
• Vendors covered
• Vendor classification
• Market positioning of vendors
PART 16: APPENDIX
• List of abbreviations
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Increasing Partnership and New Product Launch in Wearable Medical Devices is Creating New Opportunities for Players in the Wearable Medical Devices Market
Wearable medical devices market also provides you with detailed market analysis for every country growth in particular industry with wearable medical devices sales, impact of advancement in the wearable medical Devices and changes in regulatory scenarios with their support for the wearable medical Devices Market. The data is available for historic period 2010 to 2018.
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