One trend in the market is emergence of innovative wearable medical devices. The global wearable medical devices market has been witnessing a trend of increased innovation.
Technavio recognizes the following companies as the key players in the global wearable medical devices market: Fitbit, Garmin, Koninklijke Philips, OMRON Corporation, and Sonova.
Commenting on the report, an analyst from Technavios team said:
Manufactures are designing wearable medical devices to be more compact, light and ergonomic.
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According to the report, one driver in the market is increasing prevalence of chronic diseases. The increasing worldwide prevalence of CVDs such as stroke and cardiac diseases, chronic respiratory diseases such as asthma, preterm births, neurological disorders, hearing disorders, chronic pain, chronic diseases such as diabetes and rise in aging population is estimated to increase the demand for wearable medical devices.
Further, the report states that one challenge in the market is high cost of devices. Many devices are priced on the basis of the type of function and diagnosis.
For instance, insulin pump on an average cost around $4,500-$6,500. The high device cost when coupled with maintenance charges can result in significant increase in costs for the user
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to a SWOT analysis of the key vendors.
About Wearable Medical Devices
Wearable medical devices are defined as devices with sensors that are worn by a person. These devices detect and monitor changes in body signatures of various areas and organs.
Technavios analysts forecast the global wearable medical devices market to grow at a CAGR of 9.82% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global wearable medical devices market for 2018-2022. To calculate the market size, the report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio's report, Global Wearable Medical Devices Market 2018-2022, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years.
The report also includes a discussion of the key vendors operating in this market.
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Table of Content
PART 01: EXECUTIVE SUMMARY
PART 02: SCOPE OF THE REPORT
PART 03: RESEARCH METHODOLOGY
PART 04: MARKET LANDSCAPE
Market segmentation analysis
PART 05: MARKET SIZING
Market sizing 2017
Market size and forecast 2017-2022
PART 06: FIVE FORCES ANALYSIS
Bargaining power of buyers
Bargaining power of suppliers
Threat of new entrants
Threat of substitutes
Threat of rivalry
PART 07: MARKET SEGMENTATION BY APPLICATION
Segmentation by application
Comparison by application
Wearable therapeutic medical devices market
Wearable diagnostic and monitoring medical devices market
Market opportunity by application
PART 08: MARKET SEGMENTATION BY END-USER
Hospitals and clinics
Sports and fitness
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