Global Wearable Medical Devices Market 2024-2028
The wearable medical devices market is forecasted to grow by USD 26559 mn during 2023-2028, accelerating at a CAGR of 23.31% during the forecast period. The report on the wearable medical devices market provides a holistic analysis, market size and forecast, trends, growth drivers, and challenges, as well as vendor analysis covering around 25 vendors.
The report offers an up-to-date analysis regarding the current market scenario, the latest trends and drivers, and the overall market environment. The market is driven by increasing prevalence of chronic diseases globally, increasing demand for cost-effective and user-friendly medical devices, and integration of smartphone applications with wearable medical devices.
Technavio's wearable medical devices market is segmented as below:
By Product
- Diagnostic and monitoring devices
- Therapeutic devices
By Application
- Home healthcare
- Sports and fitness
- Remote patient monitoring
By Geographical Landscape
- North America
- Europe
- Asia
- Rest of World (ROW)
This study identifies the emergence of innovative wearable medical devices as one of the prime reasons driving the wearable medical devices market growth during the next few years. Also, miniaturization of wearable medical devices and increasing online presence of market vendors will lead to sizable demand in the market.
The report on the wearable medical devices market covers the following areas:
- Wearable medical devices market sizing
- Wearable medical devices market forecast
- Wearable medical devices market industry analysis
The robust vendor analysis is designed to help clients improve their market position, and in line with this, this report provides a detailed analysis of several leading wearable medical devices market vendors that include 3L Labs Co. Ltd., Abbott Laboratories, Alphabet Inc., Apple Inc., Biotricity Inc., Boston Scientific Corp., Daifuku Co. Ltd., Dexcom Inc., Garmin Ltd., General Electric Co., Huawei Technologies Co. Ltd., Johari Digital India Ltd., Koninklijke Philips N.V., Medtronic Plc, OMRON Corp., Oura Health Oy, Polar Electro Oy, Samsung Electronics Co. Ltd., ten3T Healthcare, and The Sotera Wireless Inc.. Also, the wearable medical devices market analysis report includes information on upcoming trends and challenges that will influence market growth. This is to help companies strategize and leverage all forthcoming growth opportunities.
The study was conducted using an objective combination of primary and secondary information including inputs from key participants in the industry. The report contains a comprehensive market and vendor landscape in addition to an analysis of the key vendors.
The publisher presents a detailed picture of the market by the way of study, synthesis, and summation of data from multiple sources by an analysis of key parameters such as profit, pricing, competition, and promotions. It presents various market facets by identifying the key industry influencers. The data presented is comprehensive, reliable, and a result of extensive research - both primary and secondary. The market research reports provide a complete competitive landscape and an in-depth vendor selection methodology and analysis using qualitative and quantitative research to forecast the accurate market growth.