(PharmaNewsWire.Com, April 13, 2017 ) According to the report Global Wearable Medical Devices , published by Market Data Forecast, the global market is projected to reach USD 11.18 billion by 2021, at a CAGR of 19.58% from 2016 to 2021.
Wearable medical devices feature wireless data transmission, real time feedback, alerting mechanism and have easy and timely sensing abilities. The data generated by wearable medical devices is further analysed and is used by customers for a better health management. Wearable medical devices are of several types like to detect glucose, diabetes, blood sugar, heart diseases, blood pressure ingestion, pain relief, brain activity, hydration, temperature, sleep etc.
The market continues to gain momentum with the rapid increase in adoption of these devices among patients and launch of technologically advanced, user friendly devices into the market. Lately, Google is working on a wrist-worn medical device which would have sensors to produce an ECG assessing the patterns and strength of the person’s heartbeat. Moreover, it checks the skin and pulse temperature also.
Enormous number of ongoing developments and innovations in the healthcare and electronics sector, rising spending capabilities and the ease of use of medical devices the rising incidences of chronic diseases amongst all demographics, all these factors have led to the increased adoption of the technology in turn increasing the growth. Wearable medical devices are facing challenges mainly in allocating cost effective monitoring to patients suffering from chronic disease such as Cancer and other blood diseases. Lack of awareness in the developing countries like Brazil, India, Mexico and others is leading to slower adoption of technology. These factors may act as growth hurdles for the wearable technology is certain regions. Further, the privacy concerns concerning transmitting sensitive patient information and the need for miniaturized devices with long battery life are few challenges faced by the industry in current scenario.
For granular level understanding the Wearable Medical Devices Market is segmented based on the following categories with Market Size Estimations and Y-o-Y Forecasts presented for each sub-segment.
Based on Diagnostic Wearable Devices:
• Wearable Electro Cardiographs • Wearable Sleep Monitoring devices • Heart Rate Monitors • Blood Pressure Monitors • Activity Monitors • Electro Encephalographs Based on Therapeutic Wearable Devices: • Pain Management Devices • Glucose/Insulin Monitoring Devices • Respiratory Therapy Devices Based on Application: • Sports and Fitness • Home Healthcare • Patient Monitoring
Based on geography, the report contains a wide array of countries covering all around the globe. Countries in the North American and European region are the top contributors to this market. China, Japan, India, Brazil and Argentina are identified as the predominant markets for Wearable Medical Devices. For more of regional analysis check out the following reports.
• North America Wearable Medical Devices Market • Europe Wearable Medical Devices Market • Asia-Pacific Wearable Medical Devices Market • Latin America Wearable Medical Devices Market • Middle East and Africa Wearable Medical Devices Market
The major companies operating in the global Wearable Medical Devices Market are Fitbit, Garmin, Jawbone, Polar Electro, Vital connect, Withings SAS, Zephyr Corporation, Basis Science, Omron Corporation, Drager, Lifewatch AG, Sotera Wireless, Abbott Laboratories and Nuubo. The new product launches which are heavily based on technological advancements include the OmniPod insulin patch pump by Insulet, smart pills which track patient adherence by Proteus, the wearable injectors by Unilife, and eSkin thin, flexible sensor patches by VivaInk which can be worn directly on the body.
The Wearable Medical Devices Market study offers the following deliverables: • Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is blooming • Segment-level analysis on basis of Diagnostic Wearable Devices, Therapeutic Wearable Devices & Application along with market size forecasts and y-o-y estimations to detect key areas of industry growth in detail • Identification of key drivers, restraints, opportunities, and challenges (DROC) in the market and their impact on shifting market dynamics • Study of macro and micro environmental factors that affect the global market presented in an extensive strategic analyses section containing PESTLE and Porter’s Five Forces Analyses • A comprehensive listing of key market players along with company overview, product portfolios, key financial information (subjected to availability), SWOT analysis and analyst overview to study and sustain the market environment • Competitive landscape analysis listing out the mergers, acquisitions, collaborations in the field along with new product launches, comparative financial studies and recent developments in the market by the major companies • Expertly devised Market Outlook along with Investment opportunities to provide both individuals and organizations a strong financial foothold in the market
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Market Data Forecast is a firm working in the area of market research and business intelligence. With rich experience in research across various business domains, they cater to the needs of both individual and corporate clients. From all-encompassing umbrella markets to extremely specific niche markets covering all the major regions across the globe as part of the research scope, their research services offer one of a kind specialities with competitive pricing options. For more info kindly visit, www.marketdataforecast.com
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