Wearable Medical Devices Market
Wearable Medical Devices Market value is estimated at 24,941 USD Million by 2025 and is projected to grow at a CAGR of over 18.4% during the period 2019 to 2025
Wearable Medical Devices Market value is estimated at 24,941 USD Million by 2025 and is projected to grow at a CAGR of over 18.4% during the period 2019 to 2025”
— Zion Market Research
NEW YORK, NEW YORK, UNITED STATES, February 24, 2020 /EINPresswire.com/ — With the presence of a large pool of participants, the global wearable medical devices market is displaying a highly competitive business landscape, finds a new research report by Zion Market Research (ZMR).
This review is based on a report by Zion Market Research, titled “Wearable Medical Devices Market – By Device Type (Diagnostic & Monitoring Devices and Therapeutic Devices), By Application (Sports & Fitness, Home Healthcare, and Remote Patient Monitoring), By Type (Activity Monitors, Smart Clothing, Patches, and Smartwatches), By Distribution Channel (Pharmacies, Hypermarkets, and Online Channel), and By Region: Global Industry Perspective, Comprehensive Analysis, and Forecast, 2019–2025."
The growth of the wearable devices market over the forecast period is due to the ability of these products in monitoring blood pressure, electrophysiology, body temperature, heart rate, and myriad sweating biomarkers. Apart from this, wearable medical devices can also be placed on skin epidermis and inserted via the skin for determining biochemical signals along with delivering medicines to the user.
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According to Forbes, wearable technology is likely to witness a prominent surge over the coming two decades and this is likely to boost the cost savings for the healthcare industry in the foreseeable future. Moreover, the cost-savings is the result of accurate prediction ability of wearable devices. This, in turn, will embellish the growth of wearable medical devices industry over the forecast period.
Furthermore, wearable technologies functioning in integration with artificial intelligence can help in accurately determining the symptoms of severe diseases such as heart and diabetes. This will assist the patients in seeking effective medical treatment with better prognosis and prevent long & expensive modes of treatment. Precisely, the growing wearable artificial intelligence (AI) market trends will further prompt the growth of wearable medical devices market over the forthcoming years.
Sports & Fitness Segment To Dominate Application Landscape By 2025
The segmental growth over the forecast period is credited to growing awareness about maintaining good health among youth as well as elderly persons. Apart from this, need to measure the levels of physical fitness after exercises in gym or after outdoor activities with the help of wearable medical devices will boost the segmental growth.
Browse TOC and Free Analysis of this Report – https://www.zionmarketresearch.com/market-analysis/wearable-medical-devices-market
North America To Dominate Overall Market Growth During 2019-2025
The growth of the regional market over the forecast period is credited to presence of robust healthcare infrastructure facility, highlight on technological enhancements, and easy access to advanced healthcare apps & compatible equipment. Availability of national health insurance policies including Medicaid and Medicare in the countries like the U.S. will further expedite the regional market growth over 2019-2025.
Key players involved in the wearable medical devices market include Samsung Electronics Co., Ltd., Activinsights Ltd., Xiaomi Corporation, Fitbit, Inc., Apple Inc., Garmin Limited, Huawei Technologies Co., Ltd., OMRON Corporation, Polar Electro Oy, and VitalConnect.
The global wearable medical devices market is segmented as follows:
By Device Type
Diagnostic and Monitoring Devices
Vital Sign Monitoring Devices
Sleep Monitoring Devices
Glucose Monitoring Devices
Fetal Monitoring and Obstetric Devices
Respiratory Therapy Devices
Pain Management Devices
Sports and Fitness
Remote Patient Monitoring
By Distribution Channel
Rest of Europe
Rest of Asia Pacific
Rest of Latin America
Middle East & Africa
Rest of Middle East & Africa
Browse more Medical Device Market Research Reports – https://www.zionmarketresearch.com/category/medical-device
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Source: EIN Presswire