(PharmaNewsWire.Com, November 25, 2021 ) According to the new market research report Clinical Grade Wearables Market by Device (Vital Signs Monitoring, Blood Pressure Monitor, Glucose Monitor, ECG Monitor, Pulse Oximeter), Product (Smartwatch, Patches, Wristbands), End User (Hospitals, Nursing Homes, Ambulatory) - Global Forecast to 2025, published by MarketsandMarkets™, the Medical Wearables Market size is projected to reach USD 19.5 billion by 2025 from USD 7.4 billion in 2020, at a CAGR of 21.4 % during the forecast period.
The growing adoption of smartphones, increasing penetration of 3G/4G networks, growing geriatric population, and rising focus on cost containment in healthcare delivery are driving the greater uptake of mobile technologies.
In 2019, the patches segment accounted for the largest share of the Clinical-Grade market. The large share of this segment can be attributed to the growth in the adoption of wearable technology is largely dependent on technological advancements on the telecommunications front. In the past few years, the clinical-grade wearables market has benefited from the growing penetration of 3G and 4G connections across the globe.
In 2019, the vital signs monitoring segment accounted for the largest share of the Clinical-Grade market. The large share of this segment can be attributed to the growing use of high-tech devices, which are compact, user-friendly, and come with a better graphical user interface for easy visibility of resulted data are helping to increase the market penetration of clinical-grade wearables. These wearables are playing an integral role in treating and monitoring various medical conditions in patients and driving better health outcomes.
Based on region, the Clinical-Grade Wearable market is segmented into North America, Europe, the Asia Pacific, Latin America, and the Middle East & Africa. North America accounted for the largest market share in 2019. This is due to the increasing penetration of smartphones, rising prevalence of chronic and lifestyle disorders, increasing healthcare costs, increasing demand for better healthcare services, government initiatives to promote digital health, robust penetration of 3G and 4G networks, and the rising awareness of self-health management.
The prominent players in this Clinical Grade Wearables Market are Medtronic plc. (Ireland), Koninklijke Philips N.V. (Netherlands), OMRON Corporation (Japan), Biotelemetry Inc.(US), Apple, Inc. (US ), Dexcom Inc. (US), Abbott Laboratories(US), Masimo Corporation(US), GE Healthcare (US), Bio-Beat Technologies (Israel), iRhythm Technologies, Inc.(US), VitalConnect (US), Minttihealth (US), Preventice Solutions, Inc. (US), Contec Medical Systems Co.Ltd(China), Biotricity Inc.(US), Verily Life Sciences. (US), Cyrcardia Asia Limited (Hong Kong ), ten3T healthcare (India), VivaLnk, Inc.(US).
Available Customizations
With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report: Segment Analysis
> Further breakdown of the diagnostic & monitoring devices into vital signs monitoring devices, glucose monitoring, sleep monitoring devices, fetal monitoring devices, and neuromonitoring devices. > Further breakdown of the product market into patches, wristbands and activity monitors, smartwatches and others (clothing, glass and others) > Further breakdown of the end-user market into Hospiatals and clinics, Long term Care Centers, Home Healthcare and Ambulatory Care Centers
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