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Wearable Medical Devices Market 2020 Regional Growth Drivers, Opportunities, Trends, and Forecasts to 2025

Author : Ronak Bora | Published Date : 2020-09-14 

Wearable Medical Devices Market report offers in-depth analysis of the industry size, share, major segments, and different geographic regions, forecast for the next five years, key market players, and premium industry trends. It also focuses on the key drivers, restraints, opportunities and industry challenges.

With rising awareness around physical fitness leading to demand for tracking devices and fitness monitoring, global wearable medical devices market is projected to witness a lucrative rate of growth over the upcoming time period. Growing disposable income among the population coupled with this rising awareness is further likely to augment product adoption rate leading to growth of the market.

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Moreover, companies which are operating in the business of sports medicine have also embraced massive campaigns and advertisement policies in order to widen customer base and to create awareness about their products. Furthermore, growing Research and Development expenditure would also play a crucial role in leading advancements and fostering increased product sales for sports medicine products.

As per a research report by Global Market Insights, Inc., global wearable medical devices market is estimated to surpass $87.5 billion by 2025

Body and temperature monitors for wearable devices will register a CAGR up to 40% in the coming years owing to advantages of wearable technology to assist in real-time non-invasive monitoring of temperatures. Thermal sensors incorporated for monitoring body temperatures through wrist skin will contribute towards development in this segment.

Wearable medical devices applications can be bifurcated into fitness monitoring, diabetes care, cardiac health, obesity control, and sleep tracking devices. The market share for diabetic care amassed over USD 1.8 billion in 2018 and is pegged to rise through 2025. This growth can be attributed to the consistent prevalence of diabetes in the geriatric population. Technological advancements like non-invasive electrochemical sensors help monitor skin interstitial fluids and sweat which reflect the blood glucose concentration.

Wearable technology applications deployed across home healthcare can look forward to achieving over 40% CAGR in the next few years owing to higher demand for product developments and personalized home healthcare services. Wearable devices equipped with sensors are employed for remote healthcare monitoring systems to improve clinical assessment accuracy.

India, with a consistent need for wearable medical devices, accounted for a significant industry share in 2018. With the growing adoption of newer technologies, enhancements in healthcare wearables and extensive advertisement by firms, the wearable medical devices market value in India is believed to expand by 46.7% up to 2025. The prevalence of chronic diseases will further boost the regional industry trends.

Wearable devices powered with electrocardiograph (EKG) sensors can monitor a user’s heart activity by sensing multiple physiological signals. Some other examples include wearables with complex sensors like the electromyogram (EMG) sensor to record muscle activity and electroencephalogram (EEG) sensor to monitor electrical stimulations within an individual’s brain. 

Browse full table of contents (TOC) of this report @ https://www.gminsights.com/toc/detail/wearable-medical-devices-market

Partial Chapter of the Table of Content 

Chapter 5. Wearable Medical Devices Market, By Application

5.1. Key segment trends

5.2. Cardiac health

5.2.1. Market size, by region, 2014 – 2025 (USD Million)

5.3. Obesity control

5.3.1. Market size, by region, 2014 – 2025 (USD Million)

5.4. Diabetes care

5.4.1. Market size, by region, 2014 – 2025 (USD Million)

5.5. Fitness monitoring

5.5.1. Market size, by region, 2014 – 2025 (USD Million)

5.6. Sleep tracking

5.6.1. Market size, by region, 2014 – 2025 (USD Million)

5.7. Others

5.7.1. Market size, by region, 2014 – 2025 (USD Million)

Chapter 6. Wearable Medical Devices Market, By End-use

6.1. Key segment trends

6.2. Home healthcare

6.2.1. Market size, by region, 2014 – 2025 (USD Million)

6.3. Remote patient monitoring

6.3.1. Market size, by region, 2014 – 2025 (USD Million)

6.4. Fitness and sports

6.4.1. Market size, by region, 2014 – 2025 (USD Million)

About Author

Ronak Bora

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for fractovia and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and sport. [email protected] | https://twitter.com/RonakBora26

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