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Wearable Medical Devices Market by Device, Therapeutic, Application, Type, Distribution Channel - Global Forecast to 2022

Wearable Medical Devices Market: Global Forecast until 2022

  • January 2018
  • 163 pages
  • ID: 4466097
In this report:
In 2017, the diagnostic & monitoring devices segment is expected to command the largest share of ##.##% of the wearable medical devices market in the US This segment is projected to reach USD ##,##.## million by 2022 from USD ##,##.## million in 2017, at a CAGR of ##.##% during the forecast period.
In 2017, the diagnostic & monitoring devices segment is expected to command the largest share of ##.##% of the wearable medical devices market in the UK This segment is projected to reach USD ##.## million by 2022 from USD ##.## million in 2017, at a CAGR of ##.##% during the forecast period.

Summary

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The overall wearable medical devices market forecasted to grow at a CAGR (Compound annual growth rate) of 18.30 percent.

The wearable medical devices market is forecasted to reach ~$14.4B by 2022 from ~$6.2B in 2017, at a compound annual growth rate (CAGR) of 18.30 percent. The main key factors driving the increase of this market contain growing penetration of smartphones and increasing number of smartphone-based healthcare apps compatible with wearable devices and increasing preference for wireless connectivity among healthcare providers. On the other hand, the high cost of wearable devices and data security issues may hinder the rise of the market to a certain extent during the outlook period.

Diagnostic and monitoring devices are anticipated to grow at the maximal CAGR (Compound annual growth rate) during the estimate period.

By device type, the wearable medical devices market is divided into diagnostic and monitoring devices and therapeutic devices. The diagnostic & monitoring devices segment is expected to record the maximal compound annual growth rate (CAGR) during the outlook period. The increase of this segment can be accredited to the increasing prevalence of chronic and lifestyle diseases and the rising need for regular and continuous monitoring with quick data sharing.

The sports and fitness segment is forecasted to dominate the industry during the estimate period.

Established on the application, the wearable medical devices market is broken down into home healthcare, sports and fitness, and remote patient monitoring. During the outlook period, the sports and fitness segment is anticipated to grow at the highest CAGR (Compound annual growth rate). This increase is primarily due to the growing focus on physical fitness among people to enhance the quality of life and increasing trend of tracking health progress on a continuous basis

Asia Pacific to witness high increase during the estimate period.

In 2017, North America (NA) is forecasted to account for the biggest share of the market succeeded by EU. Nevertheless, Asia Pacific (APAC) is projected to register the highest compound annual growth rate (CAGR) during the outlook period. The important increase in this regional segment is assigned to the rising spending on healthcare, economic increase, huge population base, and growing prevalence of diseases. Changes in lifestyle and rising awareness on wellness and fitness are also anticipated to drive industry growth in the territory.

The primary interviews conducted for this business report can be categorized as follows:

• By Company category: Tier 1 - 25.0 percent; Tier 2 - 30.0 percent; Tier 3 - 45%.

• By Description: C-level- 25.0 percent; D-level- 40.0 percent; others- 35%.

• By Area: North America continent - 41.0 percent; Europe (EU) - 30.0 percent; Asia-Pac - 24.0 percent; RoW - 5%.

Segment Research

The industry report offers an overview of the wearable medical devices market. It aims at evaluating the market value and upcoming growth potential of this market across distinct segments including type, applications device type, distribution channel, and area. Moreover, the study also comprises a detailed competitive analysis of the top players in the sector together with their company descriptions, recent evolutions, and key industries strategies.

Main highlights

The analysis will facilitate the market top players/new sector entrants in this sector by providing them with the closest approximations of revenues for the global market and its sub-segments. This industry report will facilitate partners to comprehend the competitive landscape better and acquire business insights to position their businesses and help firms make suitable go-to-market approaches. The market research also benefits partners comprehend the pulse of the sector and offer them with info concerning main market drivers and alternatives.

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