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Global Wearable Medical Devices Market to Reach US$5.8 bn by 2019 owing to Increasing Occurrence of Chronic Pain

Posted on Feb 15, 2016

Transparency Market Research has published a new report on the global wearable medical devices market. According to the report, the global wearable medical devices market is expected to expand at a 16.40% CAGR during the period between 2013 and 2019. The report, titled ‘Wearable Medical Devices Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,’ states that the global wearable medical devices market is expected to progress from US$2.0 bn in 2012 to US$5.8 bn by 2019.

 

Browse the full Wearable Medical Devices Market (Heart Rate Monitors, Activity Monitors, ECG, Pulse Oximeters, EEG, EMG, Glucose/Insulin Management, Pain Management, Wearable Respiratory Therapy) - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019 report at https://www.transparencymarketresearch.com/wearable-medical-devices.html

Wearable devices are primarily used by athletes, patients, and people who are concerned about personal fitness. Modern wearable medical equipment is easy to use and hence, users can easily modify their lifestyle to improve their fitness. Equipment that measures the heart rate, temperature, and other important parameters plays an important role in determining the physical fitness of an individual.

 

The global wearable medical devices market is segmented on the basis of geography, type, and application. By geography, the global wearable medical devices market is divided into the Middle East and Africa, North America, Asia Pacific, Europe, Latin America, and Rest of the World. Factors such as the increasing number of early adopters and innovations, the increasing incidence of diabetes and chronic pain, and entry of new companies are responsible for the expected growth of the global wearable medical devices market in the years to come. Further, the rise in the ease of use of wearable medical devices and their accuracy will assist the growth of the global wearable medical devices market during the period from 2013 to 2019.

 

In 2012, the global wearable medical devices market was dominated by North America with a 44% share. Asia Pacific is predicted to be the largest market in the global wearable medical devices market, progressing at an 18.0% CAGR during the period from 2013 to 2019. Rising awareness among people about personal health is expected to drive the Asia Pacific wearable medical devices market in the next few years. The global wearable medical devices market is highly fragmented and competitive in nature. With the entry of new companies, the global wearable medical devices market is predicted to become even more competitive in the coming years. Some of the leading players in the global wearable medical devices market are Nike, Jawbone, W/Me, and Fitbit.

 

By type, the global wearable medical devices market is divided into wearable therapeutic medical devices and wearable diagnostic medical devices. The wearable diagnostic medical devices market is classified into vital signs monitors, fetal and obstetric devices, and neuromonitoring devices. The wearable therapeutic medical devices market is classified into pain management, glucose/insulin monitoring, and respiratory therapy devices.

 

The rising disposable income of consumers is predicted to contribute towards the growth of the global wearable medical devices market in the years to come. Based on application, the global wearable medical devices market is classified into sports and fitness, home healthcare, and remote patient monitoring. Lack of promising reimbursement options is the major challenge for the global wearable medical devices market in the next few years.  

 

Key Segments of Global Wearable Medical Devices Market

 

Wearable Medical Devices Market, by Product Types

  • Wearable Therapeutic Medical Devices
  • Wearable Diagnostic Medical Devices

Wearable Diagnostic Medical Devices Market, by Product Types

  • Vital Signs Monitors
  • Fetal & Obstetric Devices
  • Neuromonitoring Devices

Wearable Therapeutic Medical Devices Market, by Product Types

  • Pain Management
  • Glucose/Insulin Monitoring
  • Respiratory Therapy Devices

Wearable Therapeutic Medical Devices Market, by Application

  • Sports and Fitness
  • Remote Patient Monitoring
  • Home Healthcare

 

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Transparency Market Research (TMR) is a global market intelligence company providing business information reports and services. The company’s exclusive blend of quantitative forecasting and trend analysis provides forward-looking insight for thousands of decision makers. TMR’s experienced team of analysts, researchers, and consultants use proprietary data sources and various tools and techniques to gather and analyze information.

 

TMR’s data repository is continuously updated and revised by a team of research experts so that it always reflects the latest trends and information. With extensive research and analysis capabilities, Transparency Market Research employs rigorous primary and secondary research techniques to develop distinctive data sets and research material for business reports.

 

 

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