The Global Wearable Medical Devices Market was valued at USD XX million in 2016. Considering the historical trend and possible future developments, the market is projected to reach a value of USD XX million by 2022, with a CAGR of XX% over the forecast period of 2017-2022.
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.
The general public is more aware of the technological developments through social platforms. People are interested in smart and portal devices, and the wearable is combination of both. This interest of public towards in innovation will lead to the growth of the market.
There is no specific reimbursement for wearable devices and the cost of some devices high which makes it not affordable in developing and underdeveloped countries. It is expected that such factors will hamper the growth of the market to some extent.
This market has been segmented based on diagnostic wearable medical device as wearable vital signs monitors, wearable fetal monitors and obstetric devices and neuro-monitoring devices. Based on therapeutic wearable device market is segmented as wearable pain management medical devices, glucose/insulin monitoring devices and wearable respiratory therapy devices. Based Wearable Device in application as sports and fitness, remote patient monitoring and home healthcare. Since this is a global market, based on geography, the market is segmented into North America, Europe, Asia-Pacific, the Middle East & Africa and South America. These regions are further segmented into countries in their respective regions.
Some of the key players in this market include –
Apple, Inc., Fitbit, Inc., Garmin Ltd., Intel Corporation , Koninklijke Philips N.V., Lifesense Group B.V., Medtronic Plc, Samsung Electronics Co., Ltd., Xiaomi Technology Co., Ltd and others.