North America Wearable Medical Devices Market- Growth, Trends, and Forecasts (2022 - 2027)

North America Wearable Medical Devices Market- Growth, Trends, and Forecasts (2022 - 2027)

Wearable medical devices are defined as the devices with sensors attached to the body that detect and monitor changes in body signatures of various areas and organs. Wearable devices monitor physiological data usually with remote/wireless communication. Most wearable medical devices have been developed to monitor activities such as walking, jogging, muscle activity and calories burned, heart rate, etc. and exercise. Some even include GPS monitoring and tracking to enhance the accurate measurement of distance.

Sports and fitness, remote patient monitoring, and home healthcare are the key applications of medical wearable electronics. Home healthcare monitoring accounts for the largest share.

Large number of innovations and new technologies, increasing incidence of chronic pain and diabetes, emerging economies, and increasing per capita income and ease of use and interpretation of medical devices are the factors driving the medical wearable devices market. On other hand, the high cost of wearable medical devices, unfavorable reimbursement policies, data security issues, and strict government regulations are posing challenges to this market.

Key Market TrendsThe Monitoring Devices is Expected to Grow Fastest during the Forecast Period

The major factors driving the growth of the segment in the region are the increasing adoption of sedentary and unhealthy lifestyles, growing embracing of self-monitoring of vitals, rising prevalence of lifestyle diseases, the low cost of activity trackers, and the presence of a large number of manufacturers with multi-functionality devices. According to the National Diabetes Statistics Report, 2020, 34.2 million people of all ages that is 10.5% of the US population had diabetes for the year 2018. The risk of chronic diseases is increasing due to the sedentary lifestyle and changing diet. The high patient pool with the large scope of the invention in the region due to the presence of a huge number of manufacturers is boosting the segment.

Competitive Landscape

Many players in this market are trying to expand their product portfolio in order to top the market. Few companies adopted product innovation and new product launches as its key business strategy to ensure its dominance in this market. Players, such as Fitbit, Lifesense, Apple, Garmin, and Samsung, are disrupting the market by launching several new products.

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

Companies Mentioned

IBM Corporation
Oracle Corporation
Internap Corporation
Packet Inc. (An Equinix Inc. Company)
Scaleway Inc.
Amazon Web Services Inc
Rackspace Inc.
CenturyLink, Inc.
LightEdge Solutions, Inc

Please note: This publisher does offer titles that are created upon receipt of order. If you are purchasing a PDF Email Delivery option above, the report will take approximately 2 business days to prepare and deliver.