According to a new market report published by Lucintel, the future of the global wearable medical device market looks promising with opportunities in home healthcare and remote patient monitoring. The global wearable medical device market is expected to reach an estimated $11.4 billion by 2027, and it is forecast to grow at a CAGR of 4.9% from 2022 to 2027. The major drivers of growth are increasing awareness and importance of fitness and healthy lifestyle, rising chronic diseases, and technological innovations.
Browse 71 market data tables and 110 figures spread through 168 pages and in-depth TOC on “Global Wearable Medical Device Market"
In this market, diagnostic wearables and therapeutic wearables are the main segments by application type. On the basis of its comprehensive research, Lucintel forecasts that the diagnostic wearable device segment is expected to show the highest growth during the forecast period.
Healthcare & medical and remote patient monitoring are the major end use segments of the global wearable medical device market. The remote patient monitoring segment is expected to show above average growth during the forecast period because its advanced wireless communication technologies share patient medical records and activity with doctors over a period of time.
North America is expected to remain the largest as well as the highest growth region due to high disposable income, rising chronic conditions, and acceptance of technologically advanced products in this region.
Emerging trends, which have a direct impact on the dynamics of the market, include the increasing usage of wearable biofeedback devices and increasing adoption of cloud technology for interconnected healthcare devices. Medtronic Plc, Roche Holding AG, and Animas Corporation (Johnson & Johnson) are the major manufacturers in the wearable medical device market.
Lucintel, a leading global strategic consulting and market research firm, has analyzed growth opportunities in the global wearable medical device market by end use, application, distribution channel, and region, and compiled a comprehensive research report entitled “Growth Opportunities in the Global Wearable Medical Device Market 2022-2027: Trends, Forecast, and Opportunity Analysis.” The Lucintel report serves as a catalyst for growth strategy by providing comprehensive data and analysis on trends, key drivers, and directions. The study includes trends and forecast for the growth opportunities in the global wearable medical device market by end use, application, distribution channel, and region, as follows:
By Application [Value ($ million) from 2016 to 2027]:
•Diagnostic
oVital Sign Monitoring
oNeuromodulation
oFetal and Obstetric
•Therapeutic
oPain Management Wearables
oDiabetic
oRehabilitation
oRespiratory
By End Use [Value $ million from 2016 to 2027]:
•Healthcare and Medical
•Remote Patient Monitoring
By Distribution Channel [Value $ million from 2016 to 2027]:
•Pharmacies and Clinics
•Others and Online
By Region [Value ($ million) and Volume (million units) from 2016 to 2027]:
•North America
oUS
oCanada
oMexico
•Europe
oUnited Kingdom
oGermany
oFrance
oSpain
oItaly
•Asia Pacific
oChina
oJapan
oAustralia
oS. Korea
•The Rest of the World
oLatin America
oMiddle East
This 168 page research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or click on this link https://www.lucintel.com/wearable-medical-device-market.aspx or write us at helpdesk@lucintel.com.
About Lucintel
Lucintel, the premier global Management Consulting and market research firm, creates winning strategies for growth. It offers market assessments, competitive analysis, opportunity analysis, Growth Consulting, M&A, and Due diligence services to executives and key decision-makers in a variety of industries. For further information, visit www.lucintel.com.
This report addresses the following key questions:
Q.1. What are some of the most promising, high-growth opportunities for the global wearable medical device market by end use (healthcare & medical and remote patient monitoring), application (diagnostics and therapeutics), distribution channel (pharmacies/clinics, online, and others), and region (North America, Europe, APAC, and the Rest of the World)?
Q.2. Which segments will grow at a faster pace and why?
Q.3. Which region will grow at a faster pace and why?
Q.4. What are the key factors affecting market dynamics? What are the drivers, challenges, and business risks in this market?
Q.5. What are the business risks and competitive threats in this market?
Q.6. What are the emerging trends in this market and reasons behind them?
Q.7. What are some changing customer demands in the market?
Q.8. What are the new developments in the market? Which companies are leading these developments?
Q.9. Who are the major players in this market? What are the strategic initiatives of key players for business growth?
Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material / product substitution?
Q.11. What M&A activity did occur in the last five years?