“Global Wearable Medical Devices market set to grow to $23bn by 2024” says Visiongain report

19 September 2019
Electronics

Visiongain has published a new report Global Wearable Medical Devices Market Forecast 2019-2029: Diagnostic & Monitoring Wearable Devices, Vital Sign Monitoring Devices, Neuromodulation Devices, Fetal Monitoring & Obstetric Devices, Sleep Monitoring Devices, Therapeutic Wearable Devices, Pain Management Devices, Diabetes Management Wearable Devices, Rehabilitation Devices, Respiratory Therapy Wearable Devices, Activity Monitors, Smart Watches, Smart Clothing, Patches, Home Health Care, Remoted Patient Monitoring, Sports and Fitness, Pharmacies, Online Channel.

The global wearable medical devices market is expected to reach $23bn in 2024. In 2018, the therapeutic wearable medical devices segment held 65% of the global wearable medical devices market.

Wearable medical devices offer a greater promise to improve the delivery of healthcare for both patients and care providers. The rapid innovation being brought by large players offers standard platforms for wearable technology which is expected to reduce the cost of regulatory compliance and force the industry to the more stable ground of wearable as regulated medical devices instead of merely consumer electronics devices. It is high time that regulators, developers and healthcare providers embrace the potential of these new technologies to improve the delivery of care to patients.

The lead analyst commented that "The key market drivers which are expected to drive the market globally include technology innovations, increase in incidence of lifestyle diseases, increase in penetration of smart phones and devices, risk management tactics adopted by payers and the overall need to drive the overall healthcare cost down.

However, there are several factors which continue to hold back the industry from achieving significant growth. Some of them include a lack of clear regulatory guidelines, data privacy concerns and high cost."

Leading companies featured in this report include Fitbit, Garmin, Medtronic, Royal Philips N.V., Sotera Wireless, Omron Corporation, Vital Connect, Inc., Intelesens, LifeWatch, Polar Electro and other companies

Notes for Editors
If you are interested in a more detailed overview of this report, please send an e-mail to sara.peerun@visiongain.com or call her on +44 (0) 207 336 6100.

Visiongain is one of the fastest growing and most innovative independent media companies in Europe. Based in London, UK, Visiongain produces a host of business-to-business reports focusing on the automotive, aviation, chemicals, cyber, defence, energy, food & drink, materials, packaging, pharmaceutical and utilities sectors.

Visiongain publishes reports produced by analysts who are qualified experts in their field. Visiongain has firmly established itself as the first port of call for the business professional who needs independent, high-quality, original material to rely and depend on.

Recent News

Visiongain publishes Electronic Adhesives Market Report 2020-2030

Owing to many advances and growing sales of consumer electronics goods, the growth of the electrical & electronics industry is boosting demand for adhesives.

02 May 2020

Read

“Increasing expenditure in IoT and process automation systems across shipping industry is expected to drive significant revenue growth in the global smart port market”

The 150+ page report offers market forecasts and analysis for 13 leading national markets and the rest of the world market. In addition, the report contains a dedicated leading companies’ chapter covering more than 13 companies leading the field in Smart Port Market.

24 April 2020

Read

“Unmanned Traffic Management market worth $608.2 million in 2019” says Visiongain report

The unmanned traffic management market is about to enter a period of phenomenal growth and innovation. The next ten years will see the upsurge demand of unmanned traffic management.

05 February 2020

Read

New Visiongain report: Water Quality Sensor Market 2020 – 2030

Increasing need to assess the quality of water before supplying it to the distribution system has prompted water treatment facilities to install water quality sensors, which ultimately increases demand for water quality sensor goods.

07 November 2019

Read

Kelloggs
3m
Thales
Shell
TEVA
Lockheed-Martin
Pfizer
Raytheon
Halliburton
Du-Pont
Honeywell
Daimler
BASF
Bayer
BP
BAE-Systems
Unilever