Market Research Report
Wearable Medical Device Market Size, Share & Trends Analysis Report By Product Type (Diagnostic, Therapeutic, Respiratory), By Site (Strap/Clip/Bracelet, Handheld), By Application, And Segment Forecasts, 2020 - 2027
|Published by||Grand View Research, Inc.||Product code||355223|
|Published||Content info||150 Pages
Delivery time: 2-3 business days
|Wearable Medical Device Market Size, Share & Trends Analysis Report By Product Type (Diagnostic, Therapeutic, Respiratory), By Site (Strap/Clip/Bracelet, Handheld), By Application, And Segment Forecasts, 2020 - 2027|
|Published: February 14, 2020||Content info: 150 Pages||
The global wearable medical device market size is expected to reach USD 93.19 billion by 2027, according to a new report by Grand View Research, Inc. It is projected to progress at a CAGR of 27.9% during the forecast period. Rising demand for advanced and continuous health monitoring products is fueling the growth.
Increasing prevalence of obesity coupled with rising awareness about physical fitness is encouraging people to adopt fitness-related activities. Wearable devices, such as smart bands and smartwatches help monitor fitness parameters including calories burned, footstep count, and distance covered while walking or running. Wearable devices companies also offer guidance of certified dieticians and nutritionists, further generating the demand for wearable medical devices.
Companies, such as Google, Fitbit, Apple, and Nike are working toward launching new innovative products, which is anticipated to boost the wearable medical devices market growth over the forecast period. Smart watches and wristbands are the current focal point of product development and innovation, leading to abundant availability of such products. For instance, HealthPatch, a product of Vital Connect, was launched in March 2014. The product is an adhesive patch that can be placed anywhere on the chest and is used for regulating biometrics such as heart rate, skin temperature, body posture, and activities like steps walked.