The Global Wearable Medical Devices Market to Grow Positively at a CAGR of 13.67% by 2027 | DelveInsight

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Aug 17, 2022, 11:30 ET

The wearable medical devices market is anticipated to surge due to a number of factors, including an increase in the geriatric population, an increase in the prevalence of chronic diseases, an increase in fitness and physical activity awareness, and an increase in regulatory approval for wearable medical devices.

LAS VEGAS, Aug. 17, 2022 /PRNewswire/ -- DelveInsight's Wearable Medical Devices Market Insights report provides the current and forecast market, forthcoming device innovation, individual leading companies' market shares, challenges, wearable medical devices market drivers, barriers, and trends, and key wearable medical devices companies in the market.

Key Takeaways from the Wearable Medical Devices Market Report

As per DelveInsight estimates, North America is anticipated to dominate the global wearable medical devices market during the forecast period.
Key wearable medical devices companies such as Koninklijke Philips N.V., Omron Corporation, Medtronic Canada, Dexcom Inc., Masimo, iRhythm Technologies Inc., CONTEC MEDICAL SYSTEMS CO.LTD, MediBioSense Ltd, VitalConnect, ten3T Healthcare Pvt. Ltd., Verily Life Sciences LLC, Biobeat, Biotricity, iHealth Labs Inc, VivaLNK Inc., Xiaomi, OnePlus, Apple Inc, Withings, Fitbit Health Solutions, and several others are currently dominating the wearable medical devices market.
In March 2022, Rockley Photonics, a global leader in photonics-based health monitoring & communications solutions and Medtronic, a global leader in healthcare technology, collaborated to deliver the next generation of wearable healthcare monitoring devices
In January 2021, Boston Scientific, a medical technology company, had acquired Preventice Solutions, a producer of several wearable cardiac sensors for remote patient monitoring
In May 2021, Biobeat, a global pioneer in wearable remote patient monitoring solutions for the healthcare continuum, announced the launch of its new wearable and continuous ambulatory blood pressure monitoring (ABPM) chest-monitoring device. ABPM can serve as a critical indication of a patient's health, collecting patient cardiac data in real-world circumstances outside of the doctor's office to offer an accurate, comprehensive, and impartial picture of the patient's health.

To read more about the latest highlights related to the wearable devices market, get a snapshot of the key highlights entailed in the Global Wearable Medical Devices Market Report

Wearable Medical Devices

Wearables are electronic devices worn on the body that track, analyse, and communicate real-time personal health or training data. Some of the most common wearable devices are fitness trackers, headbands, posture monitors, wearable patches, smart glasses, smartwatches, Virtual Reality (VR) headsets, heart rate monitors, and sleep trackers, among others. These wearable devices are an essential part of our daily life, recording biometric data ranging from heart rate to sleep patterns, physical activity to atrial fibrillation, blood pressure monitor to calorie burnt, and many more.

Furthermore, these wearable devices can read notifications, send rudimentary messages, make phone calls, and so on. Slowly, these wearable devices are making inroads into the gaming and fashion industries as well.

Wearable Medical Devices Market Insights

North America is predicted to lead the global wearable medical devices market in 2021 and will continue to do so during the forecast period. Factors such as rising chronic illness prevalence and increased regulatory approval for wearable medical devices are projected to boost demand for wearable medical devices in the North American wearable medical devices market. Another factor driving the growth of the wearable medical device market is the increased regulatory approval for wearable medical devices.

As a result of the interaction of the variables listed above, demand for wearable medical devices may increase, creating a favourable growth environment in the North American area for the wearable medical devices market during the forecast period.

To know more about why North America is leading the market growth in the wearable medical devices market, get a snapshot of the report Wearable Medical Devices Market Outlook

Wearable Medical Devices Market Dynamics

The growing geriatric population is one of the most important factors driving the demand for wearable medical devices. Furthermore, the increasing frequency of chronic diseases is a crucial driver driving the growth of the wearable medical device market.

However, concerns over an individual's privacy and data collecting, as well as wearable device technology that is both intricate and multidimensional, making patenting difficult, can stymie the global wearable medical devices market growth.

Moreover, the ongoing COVID-19 pandemic has had a beneficial impact on the wearable medical devices market. There was a nationwide lockdown in almost every country, movement restrictions for non-essential goods, and a lack of labour at the production sites hampered the manufacturing rate, but COVID-19 also increased global awareness of physical fitness, which increased demand for monitoring devices such as fitness monitors, cardiac monitors, pulse oximeters, respiratory monitors, blood pressure monitors, and others. However, with widespread vaccinations, easing of lockdown limitations, and the restart of supply chains, logistics, and production units, wearable medical devices are likely to increase even more during the forecast period.

Get a sneak peek of the wearable medical devices market @ Wearable Technology Trends

Scope of the Wearable Medical Devices Market Report

Coverage: Global
Study Period: 2019–2027
Market Segmentation By Types of Wearable Medical Devices: Diagnostics and Monitoring
Market Segmentation By Product Type: Cardiac Monitors, Fitness Monitors, Blood Pressure Monitor, Glucose Monitor, and Others
Market Segmentation By Application: Cardiac Health, Blood Pressure, Fitness Monitoring, Sleep Patterns and Others
Market Segmentation By Distribution Channet: Offline and Online
Market Segmentation By Geography: North America, Europe, Asia-Pacific, and Rest of World
Key Wearable Medical Devices Companies: Koninklijke Philips N.V., Omron Corporation, Medtronic Canada, Dexcom Inc., Masimo, iRhythm Technologies Inc., CONTEC MEDICAL SYSTEMS CO.LTD, MediBioSense Ltd, VitalConnect, ten3T Healthcare Pvt. Ltd., Verily Life Sciences LLC, Biobeat, Biotricity, iHealth Labs Inc, VivaLNK Inc., Xiaomi, OnePlus, Apple Inc, Withings, Fitbit Health Solutions, among others
Porter's Five Forces Analysis, Product Profiles, Case Studies, KOL's Views, Analyst's View

DelveInsight Analysis: The wearable medical devices market size is expected to grow at a CAGR of 13.67% during the forecast period (2022–2027).

Which key players in the wearable medical alert devices market are set to emerge as the trendsetter explore @ Wearable Medical Devices Companies

Table of Contents

1	Report Introduction
2	Executive summary
3	Regulatory and Patent Analysis
4	Key Factors Analysis
5	Porter's Five Forces Analysis
6	COVID-19 Impact Analysis on Wearable Medical Devices Market
7	Wearable Medical Devices Market Layout
8	Global Company Share Analysis – Key 3-5 Companies
9	Company and Product Profiles
10	Project Approach
11.	About DelveInsight

Interested in knowing how the diagnostic wearable medical devices market will grow by 2027? Click to get a snapshot of the Best Wearable Medical Devices

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About DelveInsight

DelveInsight is a leading Business Consultant, and Market Research firm focused exclusively on life sciences. It supports Pharma companies by providing comprehensive end-to-end solutions to improve their performance.

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SOURCE DelveInsight Business Research, LLP