The Global Medical Wearable Devices Market was worth more than USD 3.2 billion in revenue in 2015 and is expected to cross USD 7.9 billion in 2020, growing at a healthy CAGR of 19.8% during the forecast period.
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Wearable medical devices are defined as devices with sensors attached to the body that detect and monitor changes in body signatures of various areas and organs. The growth of the global wearable device is driven by several factors, the most important being the technological innovation.
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The study lists several factors driving the global wearable devices market towards growth. Some of these are listed below.
- Technological innovations and advancements leading to introduction of new products
- Increasing incidences of chronic diseases and diabetes patients
- Ease of use and interpretation of medical devices
The report segments the market into global diagnostic wearable devices market and global therapeutic wearable devices market. Both the above segments are further divided based on applications and geography.
Companies are exploiting the nascent interests and are focusing on creating affordable products offering greater value to both users and their healthcare partners.
Global Wearable Devices Market- Market Dynamics
At present, the potential socio-economic benefits of wearable devices are large for multiple sectors. For instance, with fitness wearable devices driving the users to exercise, wearable technology can significantly reduce healthcare costs. Investors have started investing in projects ranging from apps to various sensors.
Some of the key players in the market are:
- Fitbit Inc.
- Lifewatch AG
- Philips Electronics
- Withings SAS
Key Deliverables in the Study
- Market analysis for the wearable medical devices market, with region-specific assessments and competition analysis on the global and regional scale.
- Market definition along with the identification of key drivers and restraints.
- Identification of factors instrumental in changing the market scenario, rising prospective opportunities, and identification of key companies that can influence this market on a global and regional scale.
- Extensively researched competitive landscape section with profiles of major companies along with their market share.
- Identification and analysis of the macro and micro factors that affect the global wearable medical devices market on both global and regional scale.
Get More Details In-Depth By TOC Of This Report –
Table of Contents
1.1 Study Deliverables
1.2 Market Definition
1.3 Sizing Units
1.4 Base Currency
1.5 Review and Forecast Period
- Research Methodology
2.2 Analysis Methodology
2.3 Econometric Forecast Model
2.4 Research Assumptions
- Executive Summary
- Key Inferences
- Market Characterization
5.1 Current Market Scenario
5.2 Market Overview
5.3 Drivers, Restraints, Opportunities, and Challenges (DROC) Analysis
5.3.1 Market Drivers
126.96.36.199 RISE IN THE NUMBER OF INNOVATIONS AND NEW TECHNOLOGIES
188.8.131.52 GREATER INCIDENCE OF CHRONIC DISEASES
184.108.40.206 EMERGING ECONOMIES AND INCREASING PER CAPITA INCOME
220.127.116.11 EASE OF USE AND INTERPRETATION OF MEDICAL DEVICES
5.3.2 Market Restraints
18.104.22.168 HIGH COST OF DEVICES
22.214.171.124 REIMBURSEMENT ISSUES
5.3.3 Market Challenges
126.96.36.199 Lack of data privacy and safety
5.3.4 Market Opportunities
188.8.131.52 LARGER POPULATION OF DIABETIC PATIENTS IN ASIA-PACIFIC
5.4 Market Segmentation
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