Published by Uma Rajagopal
Posted on January 21, 2022
Tech advances in wearable devices and the rising consumer demand for health and fitness solutions are positively influencing manufacturers in the healthcare industry to develop smart devices such as biosensors, insulin pumps and more. According to Future Market Insights (FMI), the demand for wearable medical devices will rise owing to the growing global incidences of chronic ailments.
The market is anticipated to reflect a promising rate of growth with approximately 7% CAGR through the end of the forecast period in 2031. Efforts by governments and private health organizations to spread health awareness has resulted in increased focus towards solutions for early diagnostics for underlying conditions. Consequently, advances in wearables allows for real time data collection and analysis. This trend will aid in the expansion of product portfolios, while consolidating market position.
To remain ‘ahead’ of your competitors, request for a sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-826
Health and fitness applications are projected to display a relatively high rate of growth. Increasing expenditure by adults on leisure and sports activities are bolstering the demand for product such as the Fitbit. Advances in GPS tracking and Internet of Things will prove beneficial to market players.
The covid-19 pandemic has brought increased focus on healthcare, and market players are leveraging the crisis to promote their products to aid in analyzing potential patients. In addition, the growing importance of clinical mobility through smart watch devices is expected to gain traction with improvements to biosensor products.
On the other hand, market players will face challenges in the near future, affecting market expansion. High costs of purchasing wearable medical devices limits adoption rates. In addition, concerns over data security remains a challenge for manufacturers that will affect long term growth.
Key Takeaways from Wearable Medical Devices Market Study
For More Information or Query or Customization Before Buying, Visit: https://www.futuremarketinsights.com/customization-available/rep-gb-826
“Growing consumer focus on fitness is a key driving factor for growth in the wearable medical devices market. A number of medical wearables along with developments in software aim to improve the management of monitoring fitness and weight. Some of the more popular products include wristbands that are connected to cell phones displaying real-time tracking activity. With advances in data analytics, the field is projected to display positive prospects for the foreseeable future,” said an FMI analyst.
Who is Winning?
The global wearable medical devices market is moderately consolidated, with leading tech companies holding significant market share. Market leaders are increasingly focused on the development and launch of new products in addition to strategic collaborations and acquisitions with healthcare companies to enable superior knowledge and technology sharing to build their presence in the market.
Some of the more prominent players in the global wearable medical devices market include but are not limited to Medtronic plc, Siemens AG, Fitbit Inc., Bayer AG, Panasonic Corporation, Animas Corporation- Johnson and Johnson, Smiths Medical – A Smiths Group Company, Koninklijke Philips N.V., Owlet Baby Care, OMRON Corporation, Hoffmann-La Roche Ltd and Rest Devices Inc.
Valuable Insights into Wearable Medical Devices Market
Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global wearable medical devices market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights on the wearable medical devices market on basis of product in detail cover every aspect of the market such as (wearable monitoring and diagnostic devices, fetal and obstetric devices, continuous glucose monitoring devices, cardiac monitoring devices, wearable therapeutic medical devices, hearing aid, insulin pump, respiratory therapy devices, and health & fitness devices), application (patient monitoring, home healthcare, and health & fitness) and distribution channels (hospital pharmacies, clinics, online channels, and hypermarkets) across seven major regions.
About the Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here
Explore FMI’s Extensive Coverage on Healthcare Domain
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About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/wearable-medical-devices-market
Press Release Source: https://www.futuremarketinsights.com/press-release/wearable-medical-devices-market
Tech advances in wearable devices and the rising consumer demand for health and fitness solutions are positively influencing manufacturers in the healthcare industry to develop smart devices such as biosensors, insulin pumps and more. According to Future Market Insights (FMI), the demand for wearable medical devices will rise owing to the growing global incidences of chronic ailments.
The market is anticipated to reflect a promising rate of growth with approximately 7% CAGR through the end of the forecast period in 2031. Efforts by governments and private health organizations to spread health awareness has resulted in increased focus towards solutions for early diagnostics for underlying conditions. Consequently, advances in wearables allows for real time data collection and analysis. This trend will aid in the expansion of product portfolios, while consolidating market position.
To remain ‘ahead’ of your competitors, request for a sample @ https://www.futuremarketinsights.com/reports/sample/rep-gb-826
Health and fitness applications are projected to display a relatively high rate of growth. Increasing expenditure by adults on leisure and sports activities are bolstering the demand for product such as the Fitbit. Advances in GPS tracking and Internet of Things will prove beneficial to market players.
The covid-19 pandemic has brought increased focus on healthcare, and market players are leveraging the crisis to promote their products to aid in analyzing potential patients. In addition, the growing importance of clinical mobility through smart watch devices is expected to gain traction with improvements to biosensor products.
On the other hand, market players will face challenges in the near future, affecting market expansion. High costs of purchasing wearable medical devices limits adoption rates. In addition, concerns over data security remains a challenge for manufacturers that will affect long term growth.
Key Takeaways from Wearable Medical Devices Market Study
For More Information or Query or Customization Before Buying, Visit: https://www.futuremarketinsights.com/customization-available/rep-gb-826
“Growing consumer focus on fitness is a key driving factor for growth in the wearable medical devices market. A number of medical wearables along with developments in software aim to improve the management of monitoring fitness and weight. Some of the more popular products include wristbands that are connected to cell phones displaying real-time tracking activity. With advances in data analytics, the field is projected to display positive prospects for the foreseeable future,” said an FMI analyst.
Who is Winning?
The global wearable medical devices market is moderately consolidated, with leading tech companies holding significant market share. Market leaders are increasingly focused on the development and launch of new products in addition to strategic collaborations and acquisitions with healthcare companies to enable superior knowledge and technology sharing to build their presence in the market.
Some of the more prominent players in the global wearable medical devices market include but are not limited to Medtronic plc, Siemens AG, Fitbit Inc., Bayer AG, Panasonic Corporation, Animas Corporation- Johnson and Johnson, Smiths Medical – A Smiths Group Company, Koninklijke Philips N.V., Owlet Baby Care, OMRON Corporation, Hoffmann-La Roche Ltd and Rest Devices Inc.
Valuable Insights into Wearable Medical Devices Market
Future Market Insights brings the comprehensive research report on forecasted revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2031. The global wearable medical devices market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights on the wearable medical devices market on basis of product in detail cover every aspect of the market such as (wearable monitoring and diagnostic devices, fetal and obstetric devices, continuous glucose monitoring devices, cardiac monitoring devices, wearable therapeutic medical devices, hearing aid, insulin pump, respiratory therapy devices, and health & fitness devices), application (patient monitoring, home healthcare, and health & fitness) and distribution channels (hospital pharmacies, clinics, online channels, and hypermarkets) across seven major regions.
About the Healthcare Division at Future Market Insights
Future Market Insights facilitates corporates, government, investors, and associated audiences in the healthcare sector to identify and accentuate vital aspects applicable to product strategy, regulatory landscape, technology evolution, and other crucial issues to achieve sustainable success. Our unique approach to gathering market intelligence equips you in devising innovation-driven trajectories for your business. Know more about our sector coverage here
Explore FMI’s Extensive Coverage on Healthcare Domain
Orthopaedic Imaging Equipment Market The global Orthopedic Imaging Equipment Market was valued at US$ 9.8 Bn in 2021 and is expected to reach US$ 14.6 Bn by 2031.
Balloon Catheter Market The global Balloon Catheter Market is expected to reach US$ 5.11 Bn, registering a CAGR of 4.0% over the forecast period (2021-2031).
Prefilled Syringes Drug Molecules Market The global Prefilled Syringes Drug Molecules Market is set to be valued at US$ 56 Bn in 2022, and is projected to expand at a CAGR of 5.6%
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition.
Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
Report: https://www.futuremarketinsights.com/reports/wearable-medical-devices-market
Press Release Source: https://www.futuremarketinsights.com/press-release/wearable-medical-devices-market
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