Medical Wearables Market Development And Business Intelligence
Seeking Alpha Analyst Since 2014
#Healthcare Consultant focusing on #TeleHealth #TeleMedicine #PatientPortals #CVIS #HCIT #MedicalRobots #Vaccines #MedicalDevices #WirelessHealth #Biotechnology
- Major factors influencing the growth of the market.
- Leading players & Top Segments.
- Geographic Overview.
Market growth influenced due to following factors-
- Including growing adoption of smartphones,
- Increasing penetration of 4G/5G networks,
- Rising focus on cost containment in healthcare delivery & rising focus on patient-centric healthcare delivery.
Global market size-
According to research report the medical wearables market size is projected to reach $19.5 billion by 2025, at a CAGR of 21.4 % during the forecast period.
The prominent players in the Medical Wearables Market are Medtronic plc. (Ireland), Koninklijke Philips N.V. (Netherlands), OMRON Corporation (Japan), Biotelemetry Inc.(US), Apple, Inc. (US ), Dexcom Inc. (US), Abbott Laboratories(US), Masimo Corporation(US), GE Healthcare (US), Bio-Beat Technologies (Israel), iRhythm Technologies, Inc.(US), VitalConnect (US), Minttihealth (US), Preventice Solutions, Inc. (US), Contec Medical Systems Co.Ltd(CHINA), Biotricity Inc.(US), Verily Life Sciences. (US), Cyrcardia Asia Limited (Hong Kong ), ten3T healthcare (India), VivaLnk, Inc.(US).
Top Market Segments-
Based on device type, the vital sign monitoring segment accounted for the largest share of the Clinical Wearable Market in 2019. The large share of this segment can be attributed to the high and growing penetration of smartphones and significant technological advancements in medical wearable devices, which have helped improve the treatment outcomes for patients.
Based on the Clinical grade wearables market by end-user, the end-user is segmented into Long-term Care Centers/ Assisted Living Facilities/Nursing Homes, Hospitals, Ambulatory Care Centers, and Home/Patients. In 2019, the Long-term Care Centers/ Assisted Living Facilities/Nursing Homes accounted for the largest share and highest growth of the Clinical-Grade Wearable market.
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Geographic Overview -
North America accounted for the largest medical wearables market share in 2019. This is due to the increasing penetration of smartphones, rising prevalence of chronic and lifestyle disorders, increasing healthcare costs, increasing demand for better healthcare services, government initiatives to promote digital health, robust penetration of 3G and 4G networks, and the rising awareness of self-health management.
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