Wearable Medical Device Market worth 12.14 Billion USD by 2021
The global wearable medical device market, in terms of value, is projected to reach 12.14 Billion by 2021 from USD 5.31 Billion in 2016, at a CAGR of 18.0% during the forecast period.
(EMAILWIRE.COM, January 16, 2017 ) "Wearable Medical Devices Market by Application (Diagnostic (Heart, Pulse, BP, Sleep, Fetal), Therapeutic (Pain, Insulin)), End Use (Sports, Fitness, RPM), Type (Smart watch, Patch), Distribution Channel (Pharmacy, Hypermarket) - Forecast to 2021", http://www.marketsandmarkets.com/Market-Reports/wearable-medical-device-market-81753973.html
Growth in this market is mainly driven by technological advancements in medical devices, launch of a growing number of smartphone-based healthcare apps compatible with wearable devices, rising preference for wireless connectivity among healthcare providers, and increasing focus on physical fitness. Furthermore, growing trend towards home healthcare, offers significant growth opportunities for the wearable medical device market. On the other hand, factors such as high cost of wearable devices and data security issues may restraint the growth of the market.
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The wearable medical services market is segmented based on type, distribution channel, end use, application, and regions. The wearable medical device, by type segment is expected to provide growth opportunities for market players in the forecast period. On the basis of type, the wearable medical devices market is segmented into activity monitors, smartwatches, smart clothing, and patches. Activity monitors are expected to account for a major share of the market. The large share of this segment can be attributed to factors such as increasing health concerns, increasingly sedentary and unhealthy lifestyles, and growing awareness about health and fitness.
Factors driving the growth in this segment majorly comprises of increasing health concerns, increasingly sedentary and unhealthy lifestyles, and growing awareness about health and fitness.
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Based on region, the wearable medical device market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is further subsegmented into the U.S. and Canada; while Europe is further subsegmented into Germany, France, the U.K. and Rest of Europe (RoE); Asia is further subsegmented into Japan, China, India and Rest of Asia (RoA). In 2016, North America is expected to dominate the market, followed by Europe. The high growth in this market is attributed to of developed infrastructure and the focus on technological advancement and development of interconnected and highly advanced healthcare apps and compatible devices.
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Asia is poised to be fastest-growing region in the wearable medical device market from 2016 to 2021. The wearable medical device market in the Asian region is the fastest growing due to technological advancement, increasing aging population, increasing prevalence of diseases, changes in lifestyle and increasing awareness on wellness and fitness
The Wearable Medical Device is a highly competitive market, comprising several big and small players. Prominent players in the wearable medical device market Fitbit Inc. (U.S.), Philips Healthcare (Netherlands), Garmin Ltd. (Switzerland), LifeWatch AG. (Switzerland), Omron Corporation (Japan), Drägerwerk AG & Co. KGaA (U.S.), Withings SA.(France), Jawbone Inc. (U.S.) and Polar Electro Oy (Finland).
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Growth in this market is mainly driven by technological advancements in medical devices, launch of a growing number of smartphone-based healthcare apps compatible with wearable devices, rising preference for wireless connectivity among healthcare providers, and increasing focus on physical fitness. Furthermore, growing trend towards home healthcare, offers significant growth opportunities for the wearable medical device market. On the other hand, factors such as high cost of wearable devices and data security issues may restraint the growth of the market.
Download PDF Brochure: http://www.marketsandmarkets.com/pdfdownload.asp?id=81753973
The wearable medical services market is segmented based on type, distribution channel, end use, application, and regions. The wearable medical device, by type segment is expected to provide growth opportunities for market players in the forecast period. On the basis of type, the wearable medical devices market is segmented into activity monitors, smartwatches, smart clothing, and patches. Activity monitors are expected to account for a major share of the market. The large share of this segment can be attributed to factors such as increasing health concerns, increasingly sedentary and unhealthy lifestyles, and growing awareness about health and fitness.
Factors driving the growth in this segment majorly comprises of increasing health concerns, increasingly sedentary and unhealthy lifestyles, and growing awareness about health and fitness.
Get Sample Pages: http://www.marketsandmarkets.com/requestsample.asp?id=81753973
Based on region, the wearable medical device market is segmented into North America, Europe, Asia, and the Rest of the World (RoW). North America is further subsegmented into the U.S. and Canada; while Europe is further subsegmented into Germany, France, the U.K. and Rest of Europe (RoE); Asia is further subsegmented into Japan, China, India and Rest of Asia (RoA). In 2016, North America is expected to dominate the market, followed by Europe. The high growth in this market is attributed to of developed infrastructure and the focus on technological advancement and development of interconnected and highly advanced healthcare apps and compatible devices.
Speak to Analyst: http://www.marketsandmarkets.com/speaktoanalyst.asp?id=81753973
Asia is poised to be fastest-growing region in the wearable medical device market from 2016 to 2021. The wearable medical device market in the Asian region is the fastest growing due to technological advancement, increasing aging population, increasing prevalence of diseases, changes in lifestyle and increasing awareness on wellness and fitness
The Wearable Medical Device is a highly competitive market, comprising several big and small players. Prominent players in the wearable medical device market Fitbit Inc. (U.S.), Philips Healthcare (Netherlands), Garmin Ltd. (Switzerland), LifeWatch AG. (Switzerland), Omron Corporation (Japan), Drägerwerk AG & Co. KGaA (U.S.), Withings SA.(France), Jawbone Inc. (U.S.) and Polar Electro Oy (Finland).
Contact:
Mr. Rohan
MarketsandMarkets
701 Pike Street
Suite 2175, Seattle,
WA 98101, United States
1-888-600-6441
Email: sales@marketsandmarkets.com
Contact Information:
MarketsandMarkets™
Mr. Rohan
Tel: 1-888-600-6441
Email us
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MarketsandMarkets™
Mr. Rohan
Tel: 1-888-600-6441
Email us
----
This press release is posted on EmailWire.com -- a global newswire that provides Press Release Distribution Services with Guaranteed Results