Wearable Medical Devices Market to grow US$ 76,479.8 Mn by end of 2028, Says Coherent Market Insights

News provided by

Oct 20, 2021, 12:00 ET

SEATTLE, Oct. 20, 2021 /PRNewswire/ -- There are many wearable medical devices to choose from if you have diabetes. The insulin pump, diabetic hearing aids, ECG, blood glucose monitors and other such devices are available, and are often considered wearable medical devices as well.

If you have diabetes and plan on keeping up with your treatment and monitoring through wearable medical devices, you need to take some time and think about the type of monitor that you will be most comfortable with. If you plan on doing some personal monitoring on your own, but want to be able to talk with your doctors via a remote control, then there are some monitors that allow you to do so.

The global wearable medical devices market is estimated to account for 76,479.8 Mn in terms of value by the end of 2028.

Request for Sample PDF @ https://www.coherentmarketinsights.com/insight/request-sample/841

Market Drivers:

Development and launch of new products is expected to propel growth of the global wearable medical devices market over the forecast period. For instance, in February 2021, Phillips-Medisize, a Molex company, collaborated with Subject, a developer of device platforms, for research and development of wearable bolus injector.

Launch of products with LTE connectivity is also expected to aid in growth of the market. For instance, in June 2021, Garmin International, Inc. launched the Forerunner 945 LTE, a GPS running and triathlon smart watch with LTE connectivity.

Market Opportunities

Increasing investment in launch of wearables is expected to offer lucrative growth opportunities for players in the global wearable medical devices market. In April 2021, CeQur, a maker of insulin delivery devices, raised US$ 115 million to launch CeQur Simplicity, its wearable insulin injector licensed from Johnson & Johnson in 2018.

Moreover, R&D in wireless charging is also expected to aid in growth of the market. For instance, in October 2021, NuCurrent, a wireless power technology company, surpassed the NFC WLC specification for wireless power and data transfer in a product. The product, developed in partnership with WHOOP, the human performance company, delivers 2.4x the power and 4x the data transfer rates of the NFC WLC Wireless Charging specification.

Market Trends

Major players operating in the global wearable medical devices market are focused on R&D to expand their product portfolio. For instance, in February 2020, Becton, Dickinson and Company announced the completion of a 50-subject human clinical trial with the BD Libertas Wearable Injector. The injector is a subcutaneous drug delivery system designed to require no patient assembly and deliver biologics with viscosities up to 50 cP in 2-5 mL and 5-10 mL configurations.

Major players operating in the market are also focused on approval and launch of new products to expand their product portfolio. For instance, in March 2021, EOFlow, a provider of wearable drug delivery solutions, obtained medical device approval for a smartphone application for wearable insulin delivery in South Korea.

Competitive Landscape:

Major players operating in the global wearable medical devices market include, Aeroflow Breastpumps, Apple, Inc., Ava, Current Health, Fitbit Inc., Garmin, GymWatch, Hoffmann-La Roche Ltd., Johnson and Johnson, Koninklijke Philips N.V., KardiaMobile, Motiv, Medtronic plc, My Skin Track UV, OMRON Corporation, Panasonic Corporation, Smiths Medical, Siemens AG, Sonova, Sorrel Medical, and Willow.

Major players operating in the global wearable medical devices market are focused on approval and launch of new products to expand their product portfolio For instance, in October 2021, Garmin International, Inc. launched the Dexcom Connect IQ apps, providing people with Type 1 and Type 2 diabetes who use the Dexcom G6 CGM System with a way to quickly see their glucose levels.

Request for Customization @ https://www.coherentmarketinsights.com/insight/request-customization/841

Market Segmentation:

By Product Type

Wearable Therapeutic Medical Device

Hearing Aids
Insulin Pump
Respiratory Therapy Devices

Sleep Apnea Devices
Non-invasive Ventilation Device

Wearable Monitoring and Diagnostic Device

Fetal and Obstetric Devices
Continuous Glucose Monitoring Devices
Cardiac Monitoring Devices

Wearable Heart Rate Monitors
Wearable Pulse Oximeters
Wearable Blood Pressure Monitors

Health and Fitness Devices

By Application

Patient Monitoring
Health & Fitness
Home Healthcare

By End User

Clinics
Hospital Pharmacies
Online Channels
Hypermarkets
Individuals

By Region

North America
Latin America
Europe
Asia Pacific
Middle East
Africa

Buy This Premium Report Now @ https://www.coherentmarketinsights.com/insight/buy-now/841

Didn't find what you were looking for? Here are some similar research topics:

Pre-owned Medical Devices Market, By Type (X-ray, Mammography Machines, CT Machines, MRI Machines, Ultrasound Machines, Nuclear Imaging and Medicine Devices, C-arm Devices), and By Regions (North America, Latin America, Europe, Asia Pacific, Middle East, Africa) - Size, Share, Outlook, and Opportunity Analysis, 2021 – 2028

Self-care Medical Devices Market, By Product Type (Blood Glucose Monitors, Blood Pressure Monitors, Temperature Monitors, Holter Monitors, Pregnancy/Fertility Test Kits, Sleep Apnea Monitors, Nebulizers, Pedometers), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

Contact Us:

Mr. Shah
Senior Client Partner – Business Development
Coherent Market Insights
Phone:
US: +1-206-701-6702
UK: +44-020-8133-4027
Japan: +81-050-5539-1737
India: +91-848-285-0837
Email: [email protected]
Website: https://www.coherentmarketinsights.com
Follow Us: LinkedIn | Twitter