|Global Medical Wearables Market is driven by increased popularity and introduction of new innovative products - PMI|
|By GLOBE NEWSWIRE|
|Tuesday, 23 June 2020 06:05|
Covina, CA, June 23, 2020 (GLOBE NEWSWIRE)
Covina, CA, June 23, 2020 (GLOBE NEWSWIRE) -- The global medical wearables market accounted for US$ 13.2 billion in 2019 and is estimated to be US$ 104.9 billion by 2029 and is anticipated to register a CAGR of 23.3%
Emerging economies such as India, China, and Brazil are projected to offer an extensive range of opportunities for players in the market. Moreover, the increasing adoption of mobile platforms, rising adoption of AI and 5G, and the growing awareness and preference for home healthcare will propel the growth of this market.
The report "Global Medical Wearables Market, By Device (Diagnostic, Therapeutic, and Respiratory), By Type (Smartwatch and Patch), By Application (Sports and Fitness, Remote Patient Monitoring, and Home Healthcare), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029”.
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Launch of technologically advanced products
Products like smartwatches help to monitor various parameters such as physical activity, pulse rate, and respiratory rate. These products have cloud and Bluetooth connectivity. Advancements in the wrist-worn products, for instance in March 2014, Vital Connect launch Healthpatch for monitoring multiple parameters such as skin temperature, heart tare, and activities like steps count is expected to boost the target market growth. Additionally, the major players like Apple and Samsung have launched mobile apps, which are compatible with medical wearable devices and allows data recording and digital display. Such apps are influencing people toward routine health monitoring, thereby compelling global market growth.
Nevertheless, manufacturing of next-generation products and innovative devices that are smartphone compatible by prominent players in this market, can act as a major opportunity for growth of the global medical wearable market.
Browse 60 market data tables* and 35 figures* through 140 slides and in-depth TOC on “Global Medical Wearables Market”, By Device (Diagnostic, Therapeutic, and Respiratory), By Type (Smartwatch and Patch), By Application (Sports and Fitness, Remote Patient Monitoring, and Home Healthcare), and By Region (North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa) - Trends, Analysis and Forecast till 2029
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Key Market Insights from the report:
The global medical wearables market accounted for US$ 13.2 billion in 2019 and is estimated to be US$ 104.9 billion by 2029 and is anticipated to register a CAGR of 23.3%. The market report has been segmented on the basis of device, type, application, and region.
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The prominent player operating in the global medical wearables market includes Medtronic plc, Covidien Plc, Siemens AG, Fitbit Inc., Panasonic Corporation, Bayer AG, Smith’s Medical - A Smiths Group Company, Animas Corporation- Johnson & Johnson, Koninklijke Philips N.V., and Owlet Baby Care.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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