Wearable Medical Devices Market is Expected Grow at a CAGR Of 18.3% by 2022

Wearable Medical Devices Market is Expected Grow at a CAGR Of 18.3% by 2022

“Fitbit (US), Philips (Netherlands), LifeWatch (Switzerland), Garmin (Switzerland), and Omron (Japan). The other players operating in this market include Drägerwerk (Germany), Nokia Technologies (US), Jawbone (US), Polar (Finland), Wor(l)d Global Network (US), Activeinsights (UK), VitalConnect (US), Xiaomi (China), Misfit (US), and Monica Healthcare (UK).”
The Wearable Medical Devices Market represents significant growth opportunities, market growth may be hindered due to the high cost of wearable devices, lack of reimbursement, and data security issues.

According to research report the wearable medical devices market is expected to reach USD 14.41 billion by 2022 from USD 6.22 billion in 2017, at a CAGR of 18.3%. Factors such as technological advances in medical devices, increasing penetration of smartphones and growing number of smartphone-based healthcare apps compatible with wearable devices, growing preference for wireless connectivity among healthcare providers, and increasing awareness about physical fitness are driving the growth of this market.

Download Brochurehttps://www.marketsandmarkets.com/pdfdownloadNew.asp?id=81753973

Based on type, the wearable medical devices market is segmented into activity monitors, smartwatches, smart clothing, and patches. The activity monitors segment is expected register the highest CAGR during the forecast period. The high growth of this segment can be attributed to factors such as the rising adoption of sedentary and unhealthy lifestyles, rising prevalence of lifestyle diseases, and growing awareness of health and fitness.

Based on application, the wearable medical devices market is segmented into remote patient monitoring, home healthcare, and sports & fitness. The sports and fitness segment is expected to register the highest CAGR during the forecast period. The significant growth of segment is owing to factors such as the increasing focus on physical fitness among people to improve the quality of life and growing trend of tracking health progress.

Based on distribution channel, the wearable medical devices market is segmented into pharmacies, online channel, and hypermarkets. The pharmacies segment is expected to dominate the market during the forecast period. The growth of this segment is mainly attributed to factors such as increasing trend towards self-monitoring and non-invasive monitoring and diagnosis and substantial increase in the supply of wearable devices in pharmacies.

Request Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=81753973

Among the four regional segments covered in the wearable medical devices market—north America, Europe, Asia Pacific, and the Rest of the World (RoW). Geographically, the wearable medical devices market in the Asia Pacific region is expected to register the highest CAGR during the forecast period. Growth in this regional segment is largely driven by the increased spending on healthcare, faster economic growth, presence of a huge population base, and increasing prevalence of diseases in the region. Furthermore, changes in lifestyle and increasing awareness on wellness and fitness are also expected to boost market growth in the region.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the “Growth Engagement Model – GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.


Mr. Shelly Singh
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA: +1-888-600-6441
Email: sales@marketsandmarkets.com

Media Contact
Company Name: MarketsandMarkets
Contact Person: Mr. Shelly Singh
Email: Send Email
Phone: 1-888-600-6441
Address:630 Dundee Road Suite 430
City: Northbrook
State: IL
Country: United States
Website: https://www.marketsandmarkets.com/Market-Reports/wearable-medical-device-market-81753973.html