Wearable Medical Devices Market Global Analysis, Opportunities, Size, Share and Forecast To 2028

The global wearable medical devices market size was USD 29.76 billion in 2019 and is projected to reach USD 195.57 billion by 2027, exhibiting a CAGR of 26.4% during the forecast period.

The Wearable Medical Devices Market report contains detailed information on factors influencing demand, growth, opportunities, challenges, and restraints. It provides detailed information about the structure and prospects for global and regional industries. In addition, the report includes data on research & development, new product launches, product responses from the global and local markets by leading players. The structured analysis offers a graphical representation and a diagrammatic breakdown of the The Wearable Medical Devices Market by region.

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Adopting sedentary lifestyles and the lack of regular visits to healthcare settings for routine diagnosis in emerging and developed countries has led to a rapid increase in lifestyle-related chronic diseases. Also, some of these chronic diseases such as diabetes, hypertension, and cardiac disorders, exert a huge economic burden on the healthcare systems. Thus, the rising prevalence and the increasing cost burden of chronic and lifestyle diseases have led to a growing emphasis on healthcare agencies, government, and healthcare providers towards timely and routine diagnoses of patients. National and regional healthcare agencies have actively promoted routine diagnosis through various campaigns and awareness programs. This has resulted in growing awareness among the general population towards products and devices for diagnosing and monitoring vital signs.

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Pre-Post COVID-19 Impact on Global Wearable Medical Devices Market

COVID-19 is an infectious disease caused by the most recently discovered novel corona virus. Largely unknown before the outbreak began in Wuhan (China) in December 2019, COVID-19 has moved from a regional crisis to a global pandemic in just a matter of a few weeks.

In addition, production and supply chain delays were also witnessed during the second quarter which poised a challenge to the Wearable Medical Devices Market, since end-user industries were still not operating at their full capacity.

Who are the Major Wearable Medical Devices Market Vendors?

• BD (New Jersey, United States)
• Ypsomed (Burgdorf, Switzerland)
• Fitbit, Inc. (San Francisco, United States)
• Apple Inc. (Cupertino, United States)
• Sonova (Stäfa, Switzerland)
• NeuroMetrix, Inc. (Waltham, United States)
• SAMSUNG (Suwon-si, South Korea)
• Omron Healthcare, Inc. (Kyoto, Japan)
• AiQ Smart Clothing (Taipei, Taiwan)
• Koninklijke Philips N.V. (Amsterdam, Netherlands)
• Other Prominent Player

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Secondary Research:

This research study made extensive use of secondary sources, directories, and databases such as Hoover’s, Bloomberg BusinessWeek, Factiva, and OneSource to identify and collect information useful for a technical, market-oriented, and commercial study of the global market. Other secondary sources included company annual reports, press releases, and investor presentations, white papers, certified publications, articles by recognized authors, manufacturer associations, trade directories, and databases.

Primary Research:

Various sources from both the supply and demand sides were interviewed during the primary research process to obtain qualitative and quantitative information for this report. Primary sources included industry experts from the core and related industries, as well as preferred suppliers, manufacturers, distributors, technology developers, researchers, and organizations from all segments of the value chain of this industry. To obtain and verify critical qualitative and quantitative information, in-depth interviews were conducted with a variety of primary respondents, including key industry participants, subject-matter experts, C-level executives of key market players, and industry consultants.

Estimation of Market Size

The total size of the Wearable Medical Devices Market was estimated and validated using both top-down and bottom-up approaches. These methods were also widely used to estimate the size of various market sub segments. The following research methodologies were used to estimate market size:

Extensive secondary research was used to identify the industry’s key players.

The revenues generated by the market’s leading players in molecular diagnostics have been determined through primary and secondary research.

All percentage shares, splits, and breakdowns were calculated using secondary sources and confirmed using primary sources.

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FAQs:

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