According to the new market research report by IndustryARC, “Wearable Medical Devices Market: By Type (Therapeutic Wearable Devices, Diagnostic Devices, Vital Sign Monitoring Devices, Others); By Application (Home Health Care, Remote Patient Monitoring, Fitness and Sports, Others) & By Geography - (2018-2023)”, the market is largely driven by the increasing adoption of wearable medical devices across all segments, especially across sports category.
Americas continues to lead the market share and growth during 2018-2023
The Market Revenue for Vital Sign Monitoring Devices was fairly distributed among the American region, Europe and APAC region. The presence of an ever growing demand has been the vital driving force. The American region had the largest share of 47%, followed by Europe and APAC with 30% and 22% respectively. Americas projected to register highest growth rate of 21.10% CAGR, during the forecast period. The existing customer base in the American and European region has shown the largest demand accountable as the consumers want to keep a tab on their health constantly. The rise in disposable income of consumers has led to an increase in the purchasing power which drives the market demand. The APAC region is showing a positive demand growth. The reason being the Healthcare policies followed by the Government, especially for the senior population. The major incidences of heart related problems are found to be associated with the senior age group. The consumers in the APAC region want to have a healthy and stable life which has a positive impact on the market demand.
Selected / Sample Analysis done in the full Report:
The device to be launched into market in the commercialized form, is initially created as a prototype in a company or in the R&D facilities of an academic university. The prototype is extensively researched and developed in order to comply with the required customer demands and global certification regulations. Once the prototype is finalized for commercial product launch, the manufacturers source several electronic components including sensors, microcontrollers, display screens and many others for their further integration into the device architecture. The basic frame of the wearable devices is created either by the manufacturers in their own processing plants, or obtained through third-party/contract manufacturers. In this stage, the electronic components received through the component manufactures are integrated to synthesize the wearable medical device. The devices are then dispatched for certifications. The certifications may vary depending on the application and invasiveness of the product; invasive medical wearable devices require stringent certification and thorough clinical testing before entering the market. Once the certification is complete, the wearable devices are offered to end-users through a comprehensive network of global and regional distributors’ networks.
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Excerpts on Market Growth Factors Mentioned in the Full Report:
- The growing market for wearable healthcare in long term care market is projected to drive the market.
- The rising customer demand for wearable technology is projected to lead the growth of wearable medical devices market.
- The amalgamation of the aforementioned factors will be influential for wearable medical devices market, fueling their expansion across the globe.
- The elderly care market is forecast to exhibit high growth for the next few years. It is set to propel wearable medical device market, stemming from increased demand.
Key Players of the Wearable Medical Devices Market:
The top five companies in the Wearable Medical Devices market include Fitbit Inc., Nike Inc., Jawbone, Basis Science, and Pebble Technology Inc. Though these companies have a dominant position in the market, however, there are a few companies such as Philips Healthcare, ResMed, Fitbit, Inc, giving stiff competition to the top players with their innovative product designs. The big players are launching new products and acquiring the smaller companies to augment their product portfolio and also to develop innovative products by leveraging the core competencies, thereby enhancing their product portfolio. Companies are also looking at acquisitions in this market to expand their capabilities and position themselves in this growing market.
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What can you expect from the report?
The Wearable Medical Devices Market Report is Prepared with the Main Agenda to Cover the following 20 points:
• Market Size by Product Categories
• Market trends
• Manufacturer Landscape
• Distributor Landscape
• Pricing Analysis
• Top 10 End user Analysis
• Product Benchmarking
• Product Developments
• Mergers & Acquisition Analysis
• Patent Analysis
• Demand Analysis ( By Revenue & Volume )
• Country level Analysis (10+)
• Competitor Analysis
• Market Shares Analysis
• Value Chain Analysis
• Supply Chain Analysis
• Strategic Analysis
• Current & Future Market Landscape Analysis
• Opportunity Analysis
• Revenue and Volume Analysis
Frequently Asked Questions:
Does IndustryARC publish country, or application based reports in Wearable Medical Devices Market?
Response: Yes, we do have separate reports and database as mentioned below:
1. Americas Market for Wearable Medical Devices Market (2018-2023)
2. APAC Market for Wearable Medical Devices Market (2018-2023)
3. Europe Market for Wearable Medical Devices Market (2018-2023)
4. Home Healthcare Market for Wearable Medical Devices Market (2018-2023)
5. Remote Patient Monitoring Market for Wearable Medical Devices Market (2018-2023)
6. Fitness and sports Market for Wearable Medical Devices Market (2018-2023)
Does IndustryARC provide customized reports and charge additionally for limited customization?
Response: Yes, we can customize the report by extracting data from our database of reports and annual subscription databases. We can provide the following free customization
1. Increase the level of data in application or end user industry.
2. Increase the number of countries in geography or product chapter.
3. Find out market shares for other smaller companies or companies which are of interest to you.
4. Company profiles can be requested based on your interest.
5. Patent analysis, pricing, product analysis, product benchmarking, value and supply chain analysis can be requested for a country or end use segment.
Any other major customizations can be discussed with our team, we can provide a separate quote based on your requirements. You can drop in an e-mail to [email protected] to discuss more about our consulting services.
Mr. Venkat Reddy
Email: [email protected]
Contact Sales: +1-614-588-8538
IndustryARC primarily focuses on Cutting Edge Technologies and Newer Applications market research. Our Custom Research Services are designed to provide insights on the constant flux in the global supply-demand gap of markets. Our strong team of analysts enables us to meet the client research needs at a rapid speed, with a variety of options for your business. Any other custom requirements can be discussed with our team, drop an e-mail to [email protected] to discuss more about our consulting services.