Wearable Medical Devices Market is expected to witness substantial growth during Forecast by 2025
Wearable Medical Devices Market by Product and Application - Global Industry Analysis and Forecast to 2025
(EMAILWIRE.COM, October 14, 2017 ) Rising need for effectively managing chronic disorders, growing number of lifestyle related disorders, introduction of advanced devices for health management, increased focus towards healthy lifestyle and fitness are set to drive the demand for wearable medical devices. Moreover, growing awareness about early disease diagnosis and treatment coupled with rise in need for improving standard of living and quality of life will further stimulate the market growth. However, security issues related to data and high cost of these devices will restrain the market growth. Conversely, inclination towards home healthcare and remote patient monitoring will bring in new growth opportunities for the wearable device manufacturers.
Growing prevalence of diabetes is one of the major factors driving the growth of the market. People suffering from diabetes need to monitor and maintain their key parameters including food intake, body weight, physical activity, and glucose level on a daily basis, thus stimulating the demand for wearable medical devices. For instance, as per International Diabetes Federation (IDF), in 2015, diabetes affected 415 million people worldwide and this number is expected to reach up to 642 million by 2040. Moreover, it was found that 1 in 11 adults suffer from diabetes. Thus, the rising prevalence of diabetes will boost the market growth for wearable medical devices in near future.
Moreover, increased focus of key players on developing innovative wearable devices to meet the unmet medical needs will further propel the market growth. For instance, in August 2016, Philips introduced wearable health monitoring devices (including blood pressure monitor, thermometer, a health watch, connected scale). It also launched its HealthSuite Health app. These devices enabled the patients to measure and monitor the risk of chronic diseases. Moreover, in December 2016, Medtronic and Fitbit entered into a partnership for integrating health & activity data into continuous glucose monitoring (CGM) solutions for patients with type II diabetes. Such product developments helped these companies to strengthen their product portfolio to sustain their position in the market.
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Some of the key players operating in the global wearable medical devices market are Garmin, Zephyr Technology Corporation, Fitbit Inc., Jawbone, Philips, Omron Corporation, LifeWatch, Vital Connect and Withings SA. These companies are highly focused on developing advanced wearable medical devices with attractive features (such as Bluetooth and smart phone connectivity).
Wearable Devices Market Segmentation:
By Product:
Therapeutic Devices
Respiratory Therapy Devices
Positive Airway Pressure (PAP) Devices
Portable Oxygen Concentrators
Ventilators
Rehabilitation Devices
Ultrasound Platform
Sensing Devices
Accelerometers
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Growing prevalence of diabetes is one of the major factors driving the growth of the market. People suffering from diabetes need to monitor and maintain their key parameters including food intake, body weight, physical activity, and glucose level on a daily basis, thus stimulating the demand for wearable medical devices. For instance, as per International Diabetes Federation (IDF), in 2015, diabetes affected 415 million people worldwide and this number is expected to reach up to 642 million by 2040. Moreover, it was found that 1 in 11 adults suffer from diabetes. Thus, the rising prevalence of diabetes will boost the market growth for wearable medical devices in near future.
Moreover, increased focus of key players on developing innovative wearable devices to meet the unmet medical needs will further propel the market growth. For instance, in August 2016, Philips introduced wearable health monitoring devices (including blood pressure monitor, thermometer, a health watch, connected scale). It also launched its HealthSuite Health app. These devices enabled the patients to measure and monitor the risk of chronic diseases. Moreover, in December 2016, Medtronic and Fitbit entered into a partnership for integrating health & activity data into continuous glucose monitoring (CGM) solutions for patients with type II diabetes. Such product developments helped these companies to strengthen their product portfolio to sustain their position in the market.
For more information on this report, fill the form @: https://www.crystalmarketresearch.com/send-an-enquiry/HC06139
Some of the key players operating in the global wearable medical devices market are Garmin, Zephyr Technology Corporation, Fitbit Inc., Jawbone, Philips, Omron Corporation, LifeWatch, Vital Connect and Withings SA. These companies are highly focused on developing advanced wearable medical devices with attractive features (such as Bluetooth and smart phone connectivity).
Wearable Devices Market Segmentation:
By Product:
Therapeutic Devices
Respiratory Therapy Devices
Positive Airway Pressure (PAP) Devices
Portable Oxygen Concentrators
Ventilators
Rehabilitation Devices
Ultrasound Platform
Sensing Devices
Accelerometers
Buy Report @: https://www.crystalmarketresearch.com/checkout/139
About Crystal Market Research
Crystal Market Research is a U.S. based market research and business intelligence company. Crystal offers one stop solution for market research, business intelligence, and consulting services to help clients make more informed decisions. It provides both syndicated as well as customized research studies for its customers spread across the globe. The company offers market intelligence reports across a broad range of industries including healthcare, chemicals & materials, technology, automotive, and energy.
Contact:
304 South Jones Blvd, Suite 1896,
Las Vegas NV 89107,
United States
Toll Free: +1-888-213-4282
Email: sales@crystalmarketresearch.com
Website: http://www.crystalmarketresearch.com
Contact Information:
QYResearch Groups
Alex Martin
Tel: 9823144048
Email us
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QYResearch Groups
Alex Martin
Tel: 9823144048
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results