Wearable Medical Devices Market By Type (Activity Monitors, Smart Watches, Smart Clothing and Patches), By Application (Diagnostic and Monitoring Devices and Therapeutic Devices) - Growth, Future Prospects & Competitive Analysis, 2017 – 2025

 

The scope of the report includes various types of wearable medical devices such as monitoring devices, smart watches, smart clothing and patches. Applications considered for the scope of the report comprises diagnostic and monitoring devices and therapeutic devices. Diagnostic and monitoring devices are further categorized as neuromonitoring devices, sleep monitoring devices glucose monitoring devices, fetal monitoring and obstetrics devices. Therapeutic devices are further classified as insulin pumps, pain management devices, respiratory therapy devices and rehabilitation devices. A description regarding the market size and forecast is available for the above segment.

Geographic segmentation consists of the major regional segments with their constituent main countries:

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Latin America
    • Mexico
    • Brazil
    • Rest of LATAM
  • Middle East and Africa
    • GCC
    • Rest of Middle East and Africa

In the geography segment, cross sectional information is provided in accordance with the countries covered under the regional segment with their market size and forecast.

Importance has been given to understand the competitive environment existing in the wearable medical devices market. Competitive landscape furnished with the useful insight regarding prevailing competition among key players in wearable medical devices. Porter’s five forces model has also been included in the scope of the report to understand the market dynamics. Company profiles with useful information regarding the product portfolio has been considered for the scope of the report. The major players in global wearable medical devices market are Corventis, Inc., Drägerwerk AG & Co. KGaA, Fitbit, Inc., Garmin Ltd., Jawbone, Inc., LifeWatch AG, Omron Corporation, Philips Healthcare, Polar Electro Oy., Withings SA (Nokia), and Zephyr Technology Corporation.

Wearable Medical Devices Market

Based on application, the global wearable medical devices market is categorized into

  • Diagnostic and Monitoring Devices
    • Glucose Monitoring Devices
    • Sleep Monitoring Devices
    • Fetal Monitoring and Obstetric Devices
    • Neuromonitoring Devices 
  • Therapeutic Devices
    • Pain Management Devices
    • Rehabilitation Devices
    • Respiratory Therapy Devices
    • Insulin Pumps

Wearable Medical Devices Market

Wearable medical devices are very useful in giving health statistics such as blood glucose, blood oxygen level, blood lipid profile etc., within a few seconds in comparison to the tedious process followed by conventional diagnostic kits. Wearable medical devices are equipped with healthcare apps, which provide useful information regarding the amount of calories present in different food items and the exercises to burn calories particularly aiming at fitness enthusiasts and obese. Diagnostics and monitoring devices are considered as the leading segment due to increasing number of geriatric population suffering with apnea, attention deficit disorders, rise in the number of hypertensive and type 2 diabetes patients requiring frequent monitoring of blood glucose and electroencephalogram data. Therapeutic devices are anticipated to be the fastest growing market majorly due to factors such as rising prevalence of pain disorders such as fibromyalgia, rheumatoid arthritis and ankylosing spondylitis, rise in asthma and COPD prevalence requiring immediate medical intervention and pain management in terminally ill patients suffering with cancer.

For the purpose of this study, the global wearable medical devices market is categorized into the following regional and country specific markets:

  • North America
    • U.S.
    • Canada
  • Europe
    • U.K.
    • Germany
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East and Africa
    • GCC
    • Rest of Middle East and Africa

Wearable Medical Devices Market

North America was observed to be the largest wearable medical devices market in the base year 2016. According to the Centers for Disease Control and Prevention, in 2015, approximately 50% of adults aged 18 years and above were recommended to perform aerobic physical activity due to obesity and hypertension. Contributing factors to the dominance of North America market are rising prevalence of chronic diseases, government health agencies engaged in spreading awareness of healthy lifestyle and presence of major players pioneering in manufacture of wearable medical devices. The market growth in Europe is mainly attributed to increase in geriatric population suffering with sleep apnea, attention deficit disorders resulting in demand for wake up tools/alarm clocks gadgets and supportive regulatory environment for the medical devices. Asia Pacific will be registering steadfast market growth due to rising prevalence of hypertension and type 2 diabetes, favorable evolutionary environment creating health awareness and flourishing e-retail channel. Moreover, factors such as health awareness campaigns and workshops conducted by medical devices manufacturers, and establishment of retail outlets by major players in the untapped markets are going to fuel the rapid growth of wearable medical devices market in Latin America, and Middle East and Africa in the near future.   

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Published Date:  Nov 2017
Category:  Medical Devices
Report ID:   58837
Report Format:   PDF
Pages:   120
Rating:    4.4 (65)
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