Global Wearable Medical Devices Market 2018-2022
The wearable medical devices market is expected to reach USD 14.41 Billion by 2022 from USD 6.22 Billion in 2017, at a CAGR of 18.3% during the forecast period.
Factors such as technological advances in medical devices, increasing penetration of smartphones and growing number of smartphone-based healthcare apps compatible with wearable devices, growing preference for wireless connectivity among healthcare providers, and increasing awareness about physical fitness are driving the growth of this market.
The report segments the global wearable medical devices market into type, application, device type, distribution channel, and region.
Based on type, the market is further classified into smartwatches, patches, smart clothing, and activity monitors. The activity monitors segment is expected to grow at the highest CAGR with largest market share during the forecast period. This growth is mainly due to the high prevalence of lifestyle diseases, growing adoption of sedentary and unhealthy lifestyles, and increasing awareness of fitness and health.
The global wearable medical devices market, by applications, is segmented into sports and fitness, remote patient monitoring, and home healthcare. The sports and fitness segment is estimated to account for the largest market share in 2017. The growth of this segment can be attributed to the increasing focus on physical fitness among people to improve the quality of life, coupled with the growing trend of tracking health progress.
Based on distribution channel, the wearable medical devices market is segmented into pharmacies, online channel, and hypermarkets. In 2017, the pharmacies segment is expected to account for the largest share of the market. The growth of this segment is mainly attributed to factors such as increasing trend towards self-monitoring and non-invasive monitoring & diagnosis and substantial increase in the supply of wearable devices in pharmacies.
Read more: http://prn.to/2EL50Cu
Factors such as technological advances in medical devices, increasing penetration of smartphones and growing number of smartphone-based healthcare apps compatible with wearable devices, growing preference for wireless connectivity among healthcare providers, and increasing awareness about physical fitness are driving the growth of this market.
The report segments the global wearable medical devices market into type, application, device type, distribution channel, and region.
Based on type, the market is further classified into smartwatches, patches, smart clothing, and activity monitors. The activity monitors segment is expected to grow at the highest CAGR with largest market share during the forecast period. This growth is mainly due to the high prevalence of lifestyle diseases, growing adoption of sedentary and unhealthy lifestyles, and increasing awareness of fitness and health.
The global wearable medical devices market, by applications, is segmented into sports and fitness, remote patient monitoring, and home healthcare. The sports and fitness segment is estimated to account for the largest market share in 2017. The growth of this segment can be attributed to the increasing focus on physical fitness among people to improve the quality of life, coupled with the growing trend of tracking health progress.
Based on distribution channel, the wearable medical devices market is segmented into pharmacies, online channel, and hypermarkets. In 2017, the pharmacies segment is expected to account for the largest share of the market. The growth of this segment is mainly attributed to factors such as increasing trend towards self-monitoring and non-invasive monitoring & diagnosis and substantial increase in the supply of wearable devices in pharmacies.
Read more: http://prn.to/2EL50Cu