European Wearable Technology Market
European Wearable Technology Market - Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019
Press Release :
Rise in Incidences of Chronic Illnesses to Boost European Wearable Technology Market
The key factor driving overall growth of the European wearable technology market is the considerable rise in health issues. In addition, spike in chronic illnesses and the need for real-time body monitoring for medical checks in Europe are likely to favor growth of the regional market. The rising popularity of smart watches and high rate of implementation of smart wireless technology is likely to drive the growth of the European wearable technology market. In addition, technological advancements and introduction of new products is estimated to aid market growth in the coming years. However, and risk associated with products such as lithium batteries in smartphones, restricted potential of battery, and strict regulatory policies are likely to impede expansion of the European wearable technology market in near future. The possibility of a data breach, on the other hand, is another challenge for this market. The convenience of use and analysis of data by these systems is also an important factor likely to drive market expansion.
Rising Demand from the Remote Patient Monitoring to Work in Favor of the Market
In the near future, the elderly population is projected to observe high growth. Neurological disease, respiratory disease, cardiovascular disease, diabetes, and other diseases are more prevalent in this segment of population. This factor is expected to have a favorable effect on the European wearable technology market in the years to come.
In addition to that, various other factors, such as development of distribution networks of major product manufacturers and constant product development and commercialization in the region are expected to positively influence the market's growth in Europe. However, due to a shortage of favorable reimbursement policies in Europe, the market is likely to be severely constrained.
A rise in the geriatric population along with a surge in the number of people with chronic health conditions are fueling the development of remote patient monitoring. This patient monitoring system is capable of helping the patients with chronic disease management by tracking important risk factors like blood pressure, glucose, and other vital signs. Patients may use a handheld medical device to conduct a routine test and then report the results to healthcare providers in real time using this technology. These developments in the region are likely to foster growth of the European wearable technology market in near future.
Overview of the European Wearable Technology Market
Key players in the European Wearable Technology Market
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