DUBLIN, Nov. 12, 2015 /PRNewswire/ -- Research and Markets (http://www.researchandmarkets.com/research/z4s87j/global_wearable) has announced the addition of the "Global Wearable Medical Device Market - Growth, Trends and Forecasts (2015-2020)" report to their offering.
The Global Wearable Healthcare Market was worth $3.3 billion in 2015 and estimated to be growing at a 17.7% CAGR, to cross $7.8 billion by 2020. The market is showcasing evident potential in the current context.
Electronic Wearable Medical devices serve multiple functions ranging from monitoring blood sugar, glucose, chronic diseases such as heart diseases, diabetes and various other parameters. They also provide local processing, feedbacks and reports, communication capabilities, easy and timely sensing abilities. Activity monitors, smart clothing, smart equipment and smart watches are examples of a few of them.
Wearable Medical devices offer solutions to both physicians and health care providers. The services/solutions offered can be categorized into four segments: Disease Management, Monitoring & Feedback, Rehabilitation and Health & Fitness processes. The Monitoring and Feedback solutions accounted for more than 70% share of the Global Wearable Medical Device Market in 2015.
The market driven by a number of factors such as large number of ongoing projects and innovations in the healthcare and electronics sector, the rising incidence of chronic diseases among all demographics, rising spending capabilities and the ease of use of medical devices; all of the following factors have led to the increased adoption of the technology. However, the technology faces certain drawbacks of high costs of devices, issues in reimbursement and lack of awareness in the developing countries like India, Brazil, Mexico and others leading to slower adoption. These factors may act as a roadblock to the growth of the technology is certain countries.
The Market can be broadly segmented as Diagnostic Wearable Market and Therapeutic Wearable market which can be again segmented according to the particular functions of the devices as Wearable Vital Sign Monitors, Global Wearable Foetal Monitors and Obstetric devices and Neuro-monitoring devices; and Wearable Pain Management Medical devices, Glucose/Insulin Monitoring devices and Wearable Respirator devices respectively. The technology has applications in Sports and Fitness, Patient Monitoring and Home Healthcare. Market study indicates that the Home health monitoring account for the largest share. This is due to the ease of use and the accuracy of these wearable devices.
The major companies dominating the market for its products, services and continuous product development are Basis Science, Coventis Inc., Draeger, Everist Genomics Inc., Fitbit Inc., Intelensens Ltd., Lifewatch AG, Nuubo, Omron Corporation, Philips Electronics, Polar Electro, Sotera Wireless Inc., Zephyr Technology and Withings.
Key Topics Covered:
1. Introduction
2. Executive Summary
3. Market Overview
4. Market Dynamics
5. Market Segmentation
6. Competitive Landscape
7. New Market Entrants
8. Company Profiles
9. Appendix
Companies Mentioned
For more information visit http://www.researchandmarkets.com/research/z4s87j/global_wearable
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Laura Wood, +353-1-481-1716, [email protected]
SOURCE Research and Markets
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