Wearable Medical Device Market Insights:
The Wearable Medical Device Market was analyzed which was worth USD 18.23 Billion in the year 2022, expecting a CAGR of 13% during the forecast period (2023-2030), and the market is projected to be valued at USD 48.46 Billion by 2030.
Driver:
The increased adoption of Wearable Medical Device in the Medical Devices is due to high workability, Stability of structure, good quality, and Demand for making things better. The demand for Wearable Medical Device also has other significant aspects, such as analysis, purchasing volume, costs, pricing analysis, and regulatory framework. Additionally, the increased demand of Wearable Medical Device in many sectors also boosts the market growth during the forecast period.
A wearable medical device is a device that can be worn on the body to monitor, diagnose, or treat a medical condition. These devices are often designed to be worn like a watch or a bracelet and can be used for a range of purposes, from tracking physical activity and vital signs to administering medication.
Wearable Medical Device Market Research Report” was just released by Market Research Community. It is divided into several categories, including Product (Diagnostic Devices (Vital Sign Monitoring Devices (Heart Rate Monitors, Activity Monitors, Electrocardiographs, Pulse Oximeters, Spirometers, Blood Pressure Monitors, Others), Sleep Monitoring Devices (Sleep trackers, Wrist Actigraphs, Polysomnographs, Others), Electrocardiographs Fetal And Obstetric Devices, (Neuromonitoring Devices (Electroencephalographs, Electromyographs, Others)), Therapeutic Devices (Pain Management Devices (Neurostimulation Devices, Others), Insulin/Glucose Monitoring Devices (Insulin Pumps, Others), Rehabilitation Devices (Accelerometers, Sensing Devices, Ultrasound Platform, Others), Respiratory Therapy Devices (Ventilators, Positive Airway Pressure (PAP) Devices, Portable Oxygen Concentrators, Others)), application (Sports And Fitness, Remote Patient Monitoring, Home Healthcare), site (Handheld, Headband, Strap/Clip/Bracelet, Shoe Sensors, Others), and companies (Philips Electronics, Fitbit, Basis Science, Garmin, Covidien, Omron Corp., Withings, Vital Connect, Polar Electro, Intelesens Ltd., Everist Genomics, Sotera Wireless), According to the analysis of Market Research Community, The market is projected to grow at a significant pace reaching a CAGR of approximately 13%, over the forecast period of 2023–2030.
Report Coverage:
| Report Attributes | Report Details |
| Study Timeline | 2017-2030 |
| Market Size in 2030 (USD Billion) | 48.46 Billion |
| CAGR (2023-2030) | 13% |
| By Product | Diagnostic Devices (Vital Sign Monitoring Devices (Heart Rate Monitors, Activity Monitors, Electrocardiographs, Pulse Oximeters, Spirometers, Blood Pressure Monitors, Others), Sleep Monitoring Devices (Sleep trackers, Wrist Actigraphs, Polysomnographs, Others), Electrocardiographs Fetal And Obstetric Devices, (Neuromonitoring Devices (Electroencephalographs, Electromyographs, Others)),Therapeutic Devices (Pain Management Devices (Neurostimulation Devices, Others), Insulin/Glucose Monitoring Devices (Insulin Pumps, Others), Rehabilitation Devices (Accelerometers, Sensing Devices, Ultrasound Platform, Others), Respiratory Therapy Devices (Ventilators, Positive Airway Pressure (PAP) Devices, Portable Oxygen Concentrators, Others) |
| By Site | Handheld, Headband, Strap/Clip/Bracelet, Shoe Sensors, Others |
| By Application | Sports And Fitness, Remote Patient Monitoring, Home Healthcare |
| By Geography | North America, Europe, Asia Pacific, Latin America, Middle East and Africa |
| Key Players | Philips Electronics, Fitbit, Basis Science, Garmin, Covidien, Omron Corp., Withings, Vital Connect, Polar Electro, Intelesens Ltd., Everist Genomics, Sotera Wireless |
Covid-19 Impact:
The COVID-19 pandemic has had a substantial negative influence on the Wearable Medical Device market in many different regions of the world. The factors such as limited availability of raw materials, transportation restrictions, the shutdown of manufacturing facilities, and economic slowdown are the major impacts of COVID-19 which hampered the market growth. Shipments were impacted during the initial lockdown due to halted automotive productions and stringent government rules. The overall impact of COVID-19 on the industry is estimated to be minimal because the situation has stabilised. Post covid-19, there was a positive impact on the market growth due to the increased industrial manufacturing processes and rising demand for environment-friendly alternatives.
Industry Competitive Landscape:
The research includes comprehensive profiles of the key players in the market and an analysis of the competitive landscape. The market for sample preparation has grown more quickly as a result of the spike in research and development (R&D), product innovation, different business strategies, and application releases. Key players in the market include-
Philips Electronics, Fitbit, Basis Science, Garmin, Covidien, Omron Corp., Withings, Vital Connect, Polar Electro, Intelesens Ltd., Everist Genomics, Sotera Wireless
Market Segment Analysis:
By Product
Diagnostic Devices
- Vital Sign Monitoring Devices
- Heart Rate Monitors
- Activity Monitors
- Electrocardiographs
- Pulse Oximeters
- Spirometers
- Blood Pressure Monitors
- Others
- Sleep Monitoring Devices
- Sleep trackers
- Wrist Actigraphs
- Polysomnographs
- Others
- Electrocardiographs Fetal And Obstetric Devices
- Neuromonitoring Devices
- Electroencephalographs
- Electromyographs
- Others
Therapeutic Devices
- Pain Management Devices
- Neurostimulation Devices
- Others
- Insulin/Glucose Monitoring Devices
- Insulin Pumps
- Others
- Rehabilitation Devices
- Accelerometers
- Sensing Devices
- Ultrasound Platform
- Others
- Respiratory Therapy Devices
- Ventilators
- Positive Airway Pressure (PAP) Devices
- Portable Oxygen Concentrators
- Others
By Site
- Handheld
- Headband
- Strap/Clip/Bracelet
- Shoe Sensors
- Others
By Application
- Sports And Fitness
- Remote Patient Monitoring
- Home Healthcare
Region
The regional segment includes Asia Pacific, Europe, North America, the Middle East, and Africa, Latin America. In 2022, some of these regions expected to contribute the largest share during the forecast period.
The factors such as the large and easy availability of basic things, rising purchasing power among the population, and favorable government policies and industrial facilities are estimated to accelerate the industry growth in the region. The growing rate of industrialization is anticipated to boost the presence of Wearable Medical Device industries in the region.
Key Wearable Medical Device Market Trends
– Based on type, sub-type, technology utilised, applications, end-users, and geographies, the research identifies, defines, and predicts the Global Wearable Medical Device Market segments.
– Largest Market Share Held by Industry to Industry for Wearable Medical Device
– Based on their expected growth, development patterns and prospects for the future, and contributions to the overall market, it analyses the micro markets.
– Demand from the geographical area is estimated to boost growth.
– Growing Market Segment Adoption in the Wearable Medical Device Industry
– Over the forecast period, higher growth rates are anticipated in in some regions
Why Purchase the Industry Report by MRC
There is a huge amount of information in the report, including market trends and business opportunities for the forecast period.
Segments and sub-segments include quantitative, qualitative, value (USD Million,) and volume (Units Million) statistics.
Data at the regional, sub-regional, and national levels also includes information on the market’s supply and demand dynamics.
The competitive landscape includes the proportions of important players, recent innovations, and strategy.
Comprehensive product offerings, important financial data, latest advancements, SWOT analysis, and key player tactics.
Table of Content
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