Dublin, June 12, 2019 (GLOBE NEWSWIRE) -- The "Wearable Medical Device Market Size, Share & Trends Analysis Report By Product Type (Diagnostic, Therapeutic), By Site (Handheld, Headband, Strap, Shoe Sensors), By Application, And Segment Forecasts, 2019 - 2026" report has been added to ResearchAndMarkets.com's offering.
The global wearable medical devices market size is expected to reach USD 66.8 billion by 2026, according to this new report. It is anticipated to progress at a CAGR of 26.1% during the forecast period. Rising demand for advanced products as well as continuous health monitoring is fueling the growth.
High prevalence of obesity coupled with rising awareness about physical fitness is encouraging people to go for workouts and adopt other fitness-related activities. Wearable devices such as smart bands and smartwatches help monitor fitness parameters including calories burned, footstep count, and walking distance. Moreover, manufacturers of these devices offer guidance from experts who are certified dietician or nutrition. Hence, this business model is also generating hefty demand for these products.
Companies such as Google, Fitbit, Apple, and Nike are working towards the launch of new innovative products, which is anticipated to boost growth of wearable medical devices market over the forecast period. Smart watches and wristbands are the current focal point of product development and innovation, leading to their abundant availability. For instance, HealthPatch, a product of Vital Connect, was launched in March 2014. This adhesive patch that can be placed on the chest to regulate biometrics such as heart rate, skin temperature, body posture, and activities like the number of steps walked.
Further key findings from the report suggest:
- Diagnostic devices segment led the market in 2018 owing to the increasing disposable income and awareness coupled with and higher healthcare spending
- Straps, clip, bracelets, and watches is anticipated to be the largest and fastest growing segment of the wearable medical devices market
- Home healthcare held a significant market share in 2018 owing to the rise in geriatric population triggering incidence rates of target diseases
- North America is projected to command for a cumulative share in 2018 due to the increasing application of home care and remote patient monitoring for the purpose of regular, continuous, and long-term monitoring of patients
- Asia Pacific is expected to witness the fastest CAGR over the forecast period, attributed to growing awareness, disposable income, and prevalence of chronic conditions
- Some of the companies present in the market are Philips Electronics, Fitbit, Basis Science, Garmin, Covidien, Omron Corp., Withings, Vital Connect, Polar Electro, Intelesens, Everist Genomics, Intelesens and Sotera Wireless
Key Topics Covered
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Business Segment Trends
2.4 Competitive Insights
Chapter 4 Wearable Medical Device Market: Variables, Trends & Scope
4.1 Market Lineage Outlook
4.2 Penetration & Growth Prospect Mapping
4.3 User Perspective Analysis
4.4 Regulatory Framework
4.5 Market Variable Analysis
4.5.1 Market Driver Analysis
4.5.1.1 Rising Demand For Round-The-Clock Monitoring
4.5.1.2 Growing Awareness On Fitness
4.5.1.3 Increasing Per Capita Income
4.5.1.4 Advent Of Technologically Advanced Products
4.5.1.5 Growing Geriatric Population
4.5.2 Market Restraint Analysis
4.5.2.1 Data Security And Privacy Issues
4.5.2.2 Non-Availability Of Reimbursement
4.5.3 Industry Challenges
4.6 Wearable Medical Device Market: Analysis Tools
Chapter 5 Wearable Medical Device Market: Product Segment Analysis
5.1 Wearable Medical Device Market: Definition & Scope
5.2 Wearable Medical Device: Market Share Analysis, 2018 & 2026
5.3 Diagnostic Devices
5.4 Therapeutic Devices
Chapter 6 Wearable Medical Device Market: Site Segment Analysis
6.1 Wearable Medical Device Market: Definition & Scope
6.2 Wearable Medical Device: Market Share Analysis, 2018 & 2026
6.3 Handheld
6.4 Headband
6.5 Strap/Clip/Bracelet
6.6 Shoe Sensors
6.7 Others
Chapter 7 Wearable Medical Device Market: Application Segment Analysis
7.1 Wearable Medical Device Market: Definition & Scope
7.2 Wearable Medical Device: Market Share Analysis, 2018 & 2026
7.3 Sports And Fitness
7.4 Remote Patient Monitoring
7.5 Home Healthcare
Chapter 8 Wearable Medical Device Market: Regional Analysis
8.1 Wearable Medical Device Market: Definition & Scope
8.2 Regional Market Snapshot
8.3 Regional Market Share and Leading Players, 2018
8.4 Wearable Medical Device: Market Share Analysis, 2018 & 2026
8.5 North America
8.6 Europe
8.7 Asia Pacific
8.8 Latin America
8.9 MEA
Chapter 9 Company Profiles
9.1 Strategic Framework
9.2 Company Profiles
9.2.1 Koninklijke Philips N.V.
9.2.2 Sotera Wireless
9.2.3 Zephyr Technology Corporation
9.2.4 Omron Corporation
9.2.5 Everist Health
9.2.6 Polar Electro
9.2.7 LifeWatch AG
9.2.8 Intelesens Ltd.
9.2.9 Withings
9.2.10 BASIS
9.2.11 Fitbit Inc.
9.2.12 Pebble
9.2.13 Garmin
9.2.14 Jawbone
9.2.15 Vital Connect
Chapter 10 KOL Commentary
10.1 Key Insights
10.2 KOL Views
For more information about this report visit https://www.researchandmarkets.com/r/lisrkn