Research report on “Wearable Medical Device Market” offers the breakdown of the business by market Size, growth rate, key companies, regions, product types and applications. The Wearable Medical Device Market size report delivers current state, openings, limits, drivers and also the evolution forecasts of the market by 2025. Profound investigation about Wearable Medical Device market share, enterprise competition outline, benefits and drawbacks of the market, Wearable Medical Device industry development trends, regional industrial layout features and economics policies, industry news and strategies by regions has additionally been enclosed.
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Global Wearable Medical Device Market is anticipated to reach market valuation of US$ 25,101.5 Million by 2025 displaying reasonable CAGR of 18.29% over the forecast period (2019-2025). Wearable medical devices are deployed for the monitoring of patients at both personal as well as medical level. The technology revolves around the miniaturization of electronic devices in order to make them wearable and reliable. The market of wearable medical device market is anticipated to grow enormously owing to the factors such as rising old age population and old age-related diseases, increasing penetration of smartphones and growing number of smartphone-based healthcare apps compatible with wearable devices. Growing preference for wireless connectivity among healthcare providers and increasing focus on physical fitness would further derive the overall adoption of wearable medical device. However, high cost of wearable devices and lack of reimbursement and data security issues. Moreover, Incorporation of AI Wearable Medical Devices Market and Increasing demand for connected devices will act as the opportunity for further evolution of this industry.
Competitive Landscape-Top 10 Market Players
Fitbit, Inc., Apple, Inc., Xiaomi Technology Co., Ltd, Garmin International, Huawei Technologies Co. Ltd, Philips Healthcare, Samsung Electronics Co., Ltd., Polar electro OY, Gentag Inc., Omron corporation are some of the prominent players operating in the Global wearable medical device market industry. These players are adopting several growth strategies including acquisition, product launches, partnership and business expansion to increase their market presence and benefit as first mover advantages. The industry has also witnessed the emergence of several start-ups in the respective domain, majorly in the European region.
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“Smart Watches are projected to hold the largest market share and will dominate the Global wearable medical device market by 2025.”Based on type of wearable medical device market is bifurcated into Smartwatches, Wristband, Smart Clothing, Footwear, Eyewear, Skin Patches and Others. Market of Smart watches is expected to grow tremendously and is projected to dominate the market in 2025 due to the high popularity of these devices.
“Diagnostic and Monitoring Devices are expected to dominate the product type during the analyzed period.”Wearable medical device market is segmented based on device into diagnostic and monitoring devices and therapeutic devices. The diagnostic and monitoring devices occupied the largest share and is expected to maintain its dominance throughout the forecast period 2019-2025. However, therapeutic devices are expected to show the highest growth.
“Amongst application, Home Healthcare holds the major share in Global wearable medical device market.”Wearable device market holds a wide range of application in sports and fitness, remote patient monitoring and home healthcare. Rising incidence of lifestyle disease will escalate the market growth and Home Healthcare will hold the highest market share in this segment.
“Online mode of distribution is the prominent mode of distribution of wearable medical devices and is anticipated to dominate Global wearable medical device market by 2025.”Pharmacies, online channel and hypermarkets are the major distribution channel of this technology. Online Channel are anticipated to dominate this segment in 2025. Rising smartphone penetration and people spending more time on internet is expected to boost the online mode of purchase and distribution of wearable medical devices majorly in the developed and developing countries.
“United States represents as one of the largest markets of wearable medical device market globally.”For deep dive analysis of the overall adoption of wearable medical devices, through analysis was conducted for major region/country. Regional analysis of the technology is conducted for North America (United States, Canada), Europe (Germany, France, Italy, United Kingdom, Spain, Netherlands), Asia-Pacific (China, India, Japan, Australia, South Korea) and Rest of the world. United States is the largest adopter of technologically advanced products, hence dominate the market for wearable medical device globally.
Key Deliverables of the report:
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Key TOC Points in the Wearable Medical Device Market Report:
1 Market Introduction
Market Definition
Objective of the Study
Limitation
Stakeholders
Currency used in the Report
2 Research Methodology or Assumption
Research Methodology for Wearable Medical Device Market Study
Main objective of the Wearable Medical Device Market Study
3 Industry Performance
4 Executive Summary
5 Market Overview
Market Dynamics
Market Drivers
Market Restraints
6 Market Insights by Component
7 Wearable Medical Device Market Insights by Technology
8 Wearable Medical Device Market Insights by Application
9 Wearable Medical Device Market Insights by End-User Industry
10 Wearable Medical Device Market Insights by Region
11 Competitive Scenario
Porter’s Five forces analysis
Wearable Medical Device Market Share Analysis
12 Company Profiles
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