Wearable Medical Devices Market Expected to Experience Huge Growth by 2030, Says Market Industry Reports

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Market Industry Reports (MIR) has published a new report titled “Wearable Medical Devices Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2019–2030.” According to the report, the wearable medical devices market is estimated to be over US$ 12.5 billion in 2019. It is anticipated to grow at a ~22% CAGR from 2019 to 2030.

Read more Global Medical Wearables Market Size to Reach US $85.6 Billion by 2027: Polaris Market Research

The growth of the wearable medical devices market can be attributed to several factors such as technological advancements, innovations in the field of healthcare, and the rising adoption of smartphones among others. Moreover, growing consciousness regarding benefits associated with a healthy lifestyle has been critical in contributing to the wide-scale adoption of wearable medical devices, worldwide. A sample copy of Wearable Medical Devices Market is available at: https://www.marketindustryreports.com/pdf/249

Key players in the medical device market, according to Market Industry Reports are:

  • Fitbit
  • Koninklijke
  • Philips N.V.
  • Omron Healthcare
  • Drägerwerk AG & Co.
  • KGaA,
  • Polar Electro
  • VitalConnect
  • World Global Network
  • Garmin Ltd.
  • Xiaomi and ten3T Healthcare

The rising prevalence of chronic diseases such as diabetes and cardiovascular diseases coupled with the rising geriatric population is fueling the demand for wearable medical devices market. According to the Centers for Disease Control and Prevention (CDC), in the U.S., approximately 18.2 million adults aged above 20 years suffer from Coronary Artery Disease (CAD).

VitalConnect’s Vital Patch is a health monitoring device in the growing field of TeleHealth. (Image: VitalConnect)

Technological advancements in the sector of wearable medical devices have been significant in encouraging manufacturers to explore and develop advanced devices with superior functionalities. Moreover, Many devices have been introduced in the market by key players to help individuals track their health and manage diverse conditions. For instance, in January 2019, Omron Healthcare, Inc., a global leader in personal heart health and wellness technology launched HeartGuide, a wearable blood pressure monitoring system. The company has also received the 510K FDA clearance for the same.

The Wearable Medical Devices Market is segmented on the basis of Product, Modality, Cancer Type, End-Users and region.

By Type:

Smart Watches, Activity Monitors, Smart Clothing, Smart Patches

Distribution Channel:

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Online Channel, Pharmacies and, Hypermarket

Device Type:

Diagnostic & Monitoring Devices and Therapeutic Devices

Application:

Sports & Fitness, Remote, Patient Monitoring and, Home Healthcare

Research Approach

As a standard protocol at MIR, all research assignments go through the following rigorous processes.

  • Secondary Research
  • Primary Research
  • Market Size Estimation & Forecasting
  • Data Validation & Triangulation
  • Report Generation

Read more Diagnostic Wearable Medical Devices Market Anticipated to Grow Substantially Through 2025

Market Industry Reports is a global leader in market measurement & advisory services, Market Industry Reports is at the forefront of innovation to address the worldwide industry trends and opportunities. We identified the caliber of market dynamics & hence we excel in the areas of innovation and optimization, integrity, curiosity, customer and brand experience, and strategic business intelligence through our research.

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