SHERIDAN, WY, UNITED STATES, April 6, 2022 /EINPresswire.com/ -- The global wearable medical devices market value reached a value of US$ 16.5 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 25.2% during 2021-2026.

Report Metric Historical: 2016-2021

Base Year: 2021

Forecast Year: 2022-2027

Wearable medical devices are autonomous and non-invasive medical instruments that perform specific functions, such as monitoring and providing timely clinical interventions to patients over a prolonged period. They are equipped with power sources, controllers, biosensors, and software for data interpretation, acquisition, transfer, and storage.

Global Wearable Medical Devices Market Trends:

The rising prevalence of chronic medical disorders, especially among the geriatric population, represents one of the key factors positively influencing the sales of wearable medical devices worldwide. Furthermore, the emergence of the internet of things (IoT)-integrated smartwatches, trackers, patches, and smart clothing that ensure accurate monitoring of patient health conditions on-premises and remotely is acting as another growth-inducing factor. Moreover, increasing investments by leading market players in launching artificial intelligence (AI)-powered devices with sophisticated algorithms built on deep learning are driving the market. In addition, the rising expenditure capacities of individuals on health management technologiesare projected to fuel the growth of the market.

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Global Wearable Medical Devices Market 2021-2026 Analysis and Segmentation:

Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Abbott Laboratories, Apple Inc., Dexcom Inc., Fitbit Inc. (Google LLC), Garmin Ltd., Honeywell International Inc., Koninklijke Philips N.V., Medtronic Plc, Omron Corporation and Vital Connect Inc.

The report has segmented the market on the basis on region, device type, product, application and distribution channel.

Breakup by Device Type:

Diagnostic Devices
Vital Sign Monitoring
Sleep Monitoring
Electrocardiographs and Obstetric Devices
Neuromonitoring Devices
Therapeutic Devices
Pain Management Devices
Insulin Delivery Devices
Rehabilitation Devices
Respiratory Therapy Devices

Breakup by Product:

Activity Monitors
Smartwatches
Patches
Smart Clothing
Hearing Aids
Others

Breakup by Application:

Sports and Fitness
Remote Patient Monitoring
Home Healthcare

Breakup by Distribution Channel:

Offline
Online

Breakup by Region:

North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa

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As the novel coronavirus (COVID-19) crisis takes over the world, we are continuously tracking the changes in the markets, as well as the industry behaviours of the consumers globally and our estimates about the latest market trends and forecasts are being done after considering the impact of this pandemic.

Key highlights of the report:

Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
SWOT Analysis
Value Chain
Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
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