The global smart wearable healthcare devices and services market, which was valued at $5.5 billion in 2017, is expected to reach $10 billion by 2022, growing at a CAGR of over 18%.
Growth in this market is mainly driven by technological advancements in medical devices, launch of a growing number of smartphone-based healthcare apps compatible with wearable devices, rising preference for wireless connectivity among healthcare providers, and increasing focus on physical fitness. Furthermore, growing trend towards home healthcare, offers significant growth opportunities for the wearable medical device market.
On the other hand, factors such as high cost of wearable devices and data security issues may restraint the growth of the market.
Factors driving the growth in this segment majorly comprises of increasing health concerns, increasingly sedentary and unhealthy lifestyles, and growing awareness about health and fitness.
Geographically, this report is segmented into several key Regions, with production, consumption, revenue, market share and growth rate of Smart Wearable Healthcare Devices in these regions, from 2012 to 2022 (forecast), covering
Middle East and Africa
The major players in global Smart Wearable Healthcare Devices market include
Chrono Therapeutics Inc.
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