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Wearable medical devices market to reach USD 14.41 billion by 2022

Medical Market Research

Wearable medical devices market is expected to reach USD 14.41 Billion by 2022 from USD 6.22 Billion in 2017, at a CAGR of 18.3% during forecast period.

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Factors like technological advances in medical devices, 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 awareness about physical fitness are driving growth of this market.

Target Audience for this Report:

  • Wearable medical device manufacturers
  • Public and private physicians
  • Healthcare institutions (medical data centers)
  • Research & clinical laboratories
  • Distributors and suppliers of wearable medical devices
  • Health insurance payers
  • Market research and consulting firms
  • Venture capitalists

Global wearable medical devices market, by applications, is segmented into sports and fitness, remote patient monitoring, and home healthcare.

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Sports and fitness segment is estimated to account for largest market share in 2017. Growth of this segment can be attributed to increasing focus on physical fitness among people to improve the quality of life, coupled with the growing trend of tracking health progress.

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The wearable medical devices market is segmented into diagnostic and monitoring devices and therapeutic devices. Diagnostic & monitoring devices segment is expected to register highest CAGR during forecast period.

Growth of this segment can be attributed to growing prevalence of chronic and lifestyle diseases & increasing need for regular and continuous monitoring with fast data sharing.

The objectives of this study are as follows:

  • To define, describe, segment, and forecast the global market on the basis of type, distribution channel, application, device type, and region.
  • To provide detailed information regarding the major factors influencing growth of the market (drivers, restraints, opportunities, challenges, and market-specific trends)
  • To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market
  • To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders
  • To forecast the size of the market segments with respect to four main regions, namely, North America, Asia Pacific, Europe, and the Rest of the World (RoW)
  • To profile the key players and comprehensively analyze their market shares and core competencies
  • To track and analyze competitive developments such as agreements, partnerships, and collaborations; acquisitions; and product launches & upgrades; expansions; and R&D activities in the wearable medical devices market

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Research Coverage:

The report provides an overview of the wearable medical devices market. It aims at estimating the market size and future growth potential of this market across different segments such as type, applications device type, distribution channel, and region.

Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.

The report will help the market leaders/new entrants in this market by providing them with the closest approximations of revenues for the overall market and its subsegments. This report will help stakeholders to understand the competitive landscape better and gain insights to position their businesses and help companies make suitable go-to-market strategies.

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