Market Research Report
Global Wearable Medical Device Market: Type, Device Type, Application, Distribution Channel - Forecast till 2023
|Published by||Market Research Future||Product code||785739|
|Published||Content info||151 Pages
Delivery time: 1-2 business days
|Global Wearable Medical Device Market: Type, Device Type, Application, Distribution Channel - Forecast till 2023|
|Published: January 31, 2019||Content info: 151 Pages||
Wearable medical devices are autonomous, non-invasive devices that perform a specific medical function such as monitoring or support over a prolonged period of time. These devices are used in the treatment of various chronic illnesses such as asthma, diabetes, and heart disease. The main function of these devices is to collect information about the patient's health condition. The growth of the global wearable medical device market can be attributed to technological advancements, an increasing number of smartphone-based healthcare apps compatible with wearable devices, and rising awareness about physical fitness.
The global wearable medical device market is expected to reach a market value of USD 27,255.6 million by 2023 from USD 7,859.4 million in 2017 at a CAGR of 23.0% during the forecast period of 2018 to 2023.
In 2017, the Americas held the largest share of the market at 33.3%, followed by Europe and Asia-Pacific with shares of 27.2% and 24.4 %, respectively.
The global wearable medical device market has been segmented based on type, device type, application, distribution channel, and region.
By type, the global wearable medical device market has been classified as activity monitors, smart watches, smart clothing, and patches.
Based on device type, the global wearable medical device market has been categorized as diagnostic and monitoring devices and therapeutic devices. The diagnostic and monitoring devices segment has been further sub-segmented into vital sign monitoring devices, glucose monitoring devices, neuromonitoring devices, sleep monitoring devices, and fetal monitoring and obstetric devices. The therapeutic devices segment has been divided into pain management devices, rehabilitation devices, respiratory therapy devices, and insulin pumps.
The various application segments of the global wearable medical device market are sports academics and fitness, remote patient monitoring, and home healthcare.
By distribution channel, the global wearable medical device market has been segmented into hospitals and clinics, diagnostic centers, and ambulatory surgical centers.
The key players in the global wearable medical device market are Apple Inc. (US), Fitbit Inc. (US), Honeywell International Inc. (US), Koninklijke Philips NV (Netherlands), LG Electronics Inc. (South Korea), NIKE Inc. (US), Motorola Solutions Inc. (US), Qualcomm Inc. (US), Sony Corporation (Japan), Omron Corporation (Japan), Boston Scientific Corporation (US), and Medtronic PLC (Ireland).
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