DUBLIN, May 19, 2022--(BUSINESS WIRE)--The "Wearable Medical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027" report has been added to ResearchAndMarkets.com's offering.
The global wearable medical devices market reached a value of US$ 18.96 Billion in 2021. Looking forward, the publisher expects the market to reach US$ 60.55 Billion by 2027, exhibiting a CAGR of 22.2% during 2022-2027.
Fitbit Inc. (Google LLC)
Honeywell International Inc.
Koninklijke Philips N.V.
Vital Connect Inc.
Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic on different end use industries. These insights are included in the report as a major market contributor.
Wearable medical devices refer to various instruments that are non-invasively attached to the body for monitoring the patient's health. It includes multiple diagnostic devices, such as vital signs, glucose, sleep, fetal, obstetric and neuromonitoring devices, along with numerous therapeutic devices for pain management, rehabilitation and respiratory therapy.
These devices consist of biosensors, controllers, power source and software systems for data acquisition, interpretation, transfer and storage. They can be worn as an accessory, incorporated in clothing or used as an implant. They are used regularly for accurate measurement of the patient's vital stats and predicting epileptic seizures and heart problems, which can further aid in enhancing comfort and providing timely clinical interventions to the patient.
Significant growth in the healthcare infrastructure, along with the increasing prevalence of chronic medical ailments, represents one of the key factors creating a positive outlook for the market growth. Furthermore, as the coronavirus disease (COVID-19) pandemic continues to spread across the globe, there has been a significant increase in the demand for wearable medical devices in healthcare centers.
These devices have immense applicability for monitoring, providing feedback, rehabilitation, disease management and suggesting adequate treatment. This, in turn, is aiding individuals to keep a regular check of their health concerns and address them in a timely manner.
Additionally, various technological advancements, such as the development of the internet of things (IoT)-integrated smartwatches, patches and smart clothing, are acting as other growth-inducing factors. These technologies ensure accurate storing and monitoring of patient information, both on-premises and remotely. Other factors, including the rising geriatric population, along with increasing expenditure capacities of consumers on health management technologies, are anticipated to drive the market further.
Key Questions Answered in this Report
1. What will be the global wearable medical devices market outlook during the forecast period (2022-2027)?
2. What is the global wearable medical devices market drivers?
3. What are the major trends in the global wearable medical devices market?
4. What is the impact of COVID-19 on the global wearable medical devices market?
5. What is the global wearable medical devices market breakup by device type?
6. What is the global wearable medical devices market breakup by product?
7. What is the global wearable medical devices market breakup by application?
8. What is the global wearable medical devices market breakup by distribution channel?
9. What are the major regions in the global wearable medical devices market?
Key Topics Covered:
2 Scope and Methodology
3 Executive Summary
4.2 Key Industry Trends
5 Global Wearable Medical Devices Market
5.1 Market Overview
5.2 Market Performance
5.3 Impact of COVID-19
5.4 Market Forecast
6 Market Breakup by Device Type
7 Market Breakup by Product
8 Market Breakup by Application
9 Market Breakup by Distribution Channel
10 Market Breakup by Region
11 SWOT Analysis
12 Value Chain Analysis
13 Porters Five Forces Analysis
14 Price Analysis
15 Competitive Landscape
15.1 Market Structure
15.2 Key Players
15.3 Profiles of Key Players
For more information about this report visit https://www.researchandmarkets.com/r/gba2mi
View source version on businesswire.com: https://www.businesswire.com/news/home/20220519005636/en/
Laura Wood, Senior Press Manager
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