The popularity of wearable medical devices is increasing since the last few years. These devices are wearable health tools, which aid in clinical monitoring of the body vitals outside hospitals. These wearable medical devices find application in monitoring of heart rate, blood glucose, and blood oxygen levels amongst others. Moreover, these devices can also be used for tracking physical activity, fitness and sleeping patterns of an individual. Their versatility and portability along with the ease of use, appeal to the customers. These devices are also a viable option for providers who want to cut down on in-person visits, and physicians who want to remotely monitor their patients. These features of wearable medical devices provide a boost to the growth of their global market.
As per RNCOS report “Global Wearable Medical Devices Market Outlook 2022”, the global wearable medical devices market is anticipated to witness a high double digit growth during 2016-2022. This report provides a detailed analysis of the current and future market scenario of the global wearable medical devices market. The report provides insight about the major drivers and challenges, along with the latest innovations in this industry. In addition, the report also highlights various opportunities available for growth of the global wearable medical devices market.
The global wearable medical devices market has been segmented on the basis of type of product into glucose monitoring devices, insulin pumps, blood pressure monitoring devices, etc. Activity, fitness and sleep tracking devices are gaining popularity amongst all the other types of wearable medical devices. These devices are available as wrist bands or watches, which makes them easy to use on a daily basis.
Furthermore, the global wearable medical devices market has also been segmented on the basis of their applications. According to the report, the wearable medical devices are used for tracking fitness along with their diagnostic and therapeutic purposes.
Based on geography, the report divides the market into North America, Europe, and Asia-Pacific. In 2016, North America is estimated to account for the largest share. Moreover, the report also highlights various mergers and acquisitions taking place in the global wearable medical devices industry.
The last section of the report discusses about the prominent players in global wearable medical devices market. A brief business overview and financial information about each of these players has been provided, along with their product portfolios. The recent developments of every player have also been presented in the report. Overall, the research contains exhaustive information that will help clients in formulating market strategies and assessing opportunity areas in the global wearable medical devices market.