(PharmaNewsWire.Com, August 01, 2017 ) According to the report North America Wearable Medical Devices Market, published by Market Data Forecast, the market is projected to reach USD 4.22 billion by 2021, growing at a CAGR of 18.2% during the forecast period 2016-2021
A wearable medical device is defined as a biosensor which controls physiological data, with the help of remote/wireless communication, consider as part of any wearable piece that attaches to the body. Activity monitors, smart clothing, smart watches, and patches are some of the examples. Wearable medical devices include several features like wireless data transmission, real time feedback, alerting mechanism and timely sensing abilities. They monitor several types of health conditions like blood sugar levels, heart diseases, blood pressure, ingestion, pain relief, brain activity, hydration, temperature, sleep etc.
The data generated by wearable medical devices is further used by customers for a better healthcare management. Smart wearables which run third party applications tend to be a bit costlier than their counter-parts thus affecting a downscale in their sales. 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.
North America Wearable Medical Devices Market: Drivers & Restraints
Increasing incidences of chronic conditions like obesity and awareness among people combining with the well-developed economic and technological facilities favor the growth of wearable devices market in North America. However wearable medical devices are facing challenges mainly in allocating cost effective monitoring to patients and providing multi-platform functionality which is expected in well-developed countries like Canada and America. These factors may act as growth hurdles for the wearable technology is this region. 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.
North America Wearable Medical Devices Market: Overview North America Wearable Medical Devices has predominant share in the global market and continues to be in future also. Coming to product, the two main purposes of wearable technology are to monitor various bodily markers and to keep the user well informed on health conditions by syncing the relevant data to electronic devices such as smartphones. 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. They help monitor several bodily conditions like blood sugar, heart diseases, blood pressure ingestion, pain relief, brain activity, hydration, temperature, sleep etc. The remote patient monitoring market accounted for the highest revenue in 2015 while the sports and fitness market is expected to grow at the fastest rate.
North America Wearable Medical Devices Market: Region-wise Outlook On the basis of geography, the North America market is analysed under USA and Canada regions. The North America region holds the largest market share of the global wearable medical devices market Also companies catering for specific needs make the market more competitive and more user friendly by increasing product choices at cheaper prices.
Key Questions Answered What will be the market growth till 2021 and what will be the resultant market forecast in the year?
What was the market size from 2016 to 2021?
What is the current and future Wearable Medical Devices Market outlook in North America?
What trends are affecting the North America market?
What is the competitive landscape and market share of major players in the Wearable Medical Devices space in North America?
What are the key, high growth markets that Wearable Medical Devices manufacturers should expand into? Which market segments are growing the fastest?
What are the unmet needs with the Wearable Medical Devices currently on the market? How will emerging technologies fulfil these unmet needs?
What is physician perception and market outlook of Wearable Medical Devices?
What are the challenges and barriers that have hindered widespread adoption of Wearable Medical Devices?
North America Wearable Medical Devices Market: Key Players Some of the major companies dominating the market, by their products and services include Fitbit, Garmin, Jawbone, Polar Electro, Vital connect, Withings SAS, Zephyr Corporation, Basis Science, Omron Corporation, Drager, Lifewatch AG, Sotera Wireless, Abbott Laboratories and Nuubo.
Reasons to buy North America Wearable Medical Devices Market Report:
Global, regional and country-level analysis and forecasts of the study market; providing Insights on the geographical areas in which this industry is prospering
Segment-level analysis on basis of product type, application, colour 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 market presented in an extensive strategic analyses section containing PESTLE and Porters 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
About Market Data Forecast: 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 information, kindly visit, www.marketdataforecast.com.
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