“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.

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