Wearable Medical Devices Global Market Opportunities And Strategies To 2022
NEW YORK, August 15, 2018 /PRNewswire/ -- Wearable Medical Devices Global Market Opportunities And Strategies By Application Type: Consumer Wearables, Non-Consumer Wearables; Consumer Wearables, By Application: Fitness And Sport, General Consumer, Gaming, Home Automation, Fashion And Apparel; Non-Consumer Wearables, By Industry: Healthcare, Defense, Industrial And Enterprise; By Product Category: Sports/Activity Trackers, Healthcare, Smart Watches, Smart Glasses, Wearable 3D Motion Trackers, Smart Clothing; By Type Of Device: Diagnostic Devices, Therapeutic Devices; By Site Of Application: Handheld, Headband, Strap, Shoe Sensors, Others; With Forecast Until 2022
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Executive Summary
Wearable medical devices are small electronic products, often consisting of one or more sensors, and having computational capability. They are embedded into items that are attach to the body parts, such as head, feet, arms, wrists and waist. They can resemble a watch, eyeglasses, some clothing, contact lenses, shoes or even jewellery.
Wearable medical devices can be generally divided based on consumer or non-consumer applications. These two categories can be further segmented based on the particular sector the product targets.
The global wearable medical devices market grew from $3.1 billion in 2014 to $5.2 billion in 2017 at a compound annual growth rate (CAGR) of 13.80%. It is expected to grow from $5.2 billion in 2017 to $13.5 billion in 2022 at a CAGR of 17.23%. The growth will result from an increasing demand for smart watches, growing demand for wearable monitors and increasing use of wearable devices for cardiovascular disease management.
By type of device, consumer wearables segment was the largest accounting for 63% of the market. The segment's share is expected to grow to 74% in 2018. The consumer wearable market segment includes general consumer, fitness and sports, fashion and apparel, home automation and remote identi?cation, and gaming and recreation.
The wearable medical devices market in Americas was the largest in the world. In 2017, it accounted for about 48% of the global wearable medical devices market. The principle factors behind such dominance of Americas region is presence of large number of key players, favourable government policies and awareness among the population about health monitoring devices.
Based on type of product, the market was dominated by diagnostic devices with more than 60% share during the forecast period, due to rising incidence of chronic diseases as well as increasing demand for health monitoring devices. In addition, increasing awareness among the population about diagnostic wearable medical devices, higher healthcare spending, and supportive government programs promoting the regular screening of individuals are also contributing to the growth of this market.
Description
Where is the largest and fastest growing market for wearable medical devices? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The wearable medical devices global market report from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, porter's five force model, pestle analysis, segmentation, regional and country breakdowns, competitive landscape, market shares, customer information, key mergers and acqisitions, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
• The market characteristics section of the report defines and explains the market.
• The market size section gives the market size ($b) covering both the historic growth of the market and forecasting the future. Drivers and restraints cover the external factors supporting and controlling the growth of the market.
• Porter's five forces model covers the threat of new entrants, threat of substitutes, bargaining power of buyers, bargaining power of suppliers and industry competition for the wearable medical devices market.
• PESTEL Analysis covers the political, economic, social, technological, legal and environmental factors affecting the wearable medical devices market.
• Market segmentation breaks down the market into sub markets, including site remediation consulting services, water and waste management consulting services, environment management, compliance and due diligence. The historic and forecast growth rates for these segments are also covered in this report. Base year market segmentation is done for the end-user industries.
• The regional and country breakdown section gives an analysis of the market in each geography and the size of the market by geography and compares their historic and forecast growth. It covers all the regions, key developed countries and major emerging markets.
• The competitive landscape section gives a description of the competitive nature of the market, market shares, and a description of the leading companies in terms of their offerings, growth strategy and financial performance.
• The customer information and operational insights section covers major surveys conducted on the global wearable medical devices market and their implications.
• The report also covers key mergers and acquisitions in the wearable medical devices market. Key financial deals which have shaped the market in recent years are identified.
• The trends and strategies section highlights the likely future developments in the market and suggests approaches companies can take to exploit this.
Scope
Markets covered: 1) By Application Type: Consumer Wearables, Non-Consumer Wearables; 2) Consumer Wearables, By Application: Fitness And Sport, General Consumer, Gaming, Home Automation, Fashion And Apparel; 3) Non-Consumer Wearables, By Industry: Healthcare, Defense, Industrial And Enterprise; 4) By Product Category: Sports/Activity Trackers, Healthcare, Smart Watches, Smart Glasses, Wearable 3D Motion Trackers, Smart Clothing; 5) By Type Of Device: Diagnostic Devices, Therapeutic Devices; 6) By Site Of Application: Handheld, Headband, Strap, Shoe Sensors, Others.
Companies mentioned: Koninklijke Philips N.V., Omron Corporation, Zephyr Technology Corporation (a part of Medtronic), Fitbit Inc., Johnson and Johnson, Boston Scientific Corporation, LifeWatch AG
Regions: Americas, Asia-Pacific, Europe, Middle East And Africa (EMEA).
Time series: Four years historic and five years forecast.
Data segmentations: Regional and historic and forecast data, market segments.
Sourcing and Referencing: Data and analysis throughout the report is sourced using end notes.
Why this report?
Timely And Critical:
- Fast growth of the global wearable medical devices market
- Increasing demand for wearable devices in the remote patient monitoring devices and home healthcare industries
- Change in the consumer behaviour towards leading a healthy lifestyle
- Increasing aging population requiring medical monitoring
- An opportunity to minimize treatment costs
Reasons to Purchase
• Outperform competitors using accurate up to date demand-side dynamics information.
• Identify growth segments for investment.
• Facilitate decision making on the basis of historic and forecast data and the drivers and restraints on the market.
• Create regional and country strategies on the basis of local data and analysis.
• Stay abreast of the latest customer and market research findings
• Benchmark performance against key competitors.
• Develop strategies based on likely future developments.
• Utilize the relationships between key data sets for superior strategizing.
• Suitable for supporting your internal and external presentations with reliable high quality data and analysis
• Gain a global perspective on the development of the market.
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