Wearable Medical Devices Market 18.3% CAGR to 2022

PUNE, India, January 25, 2018 /PRNewswire/ --

ReportsnReports.com adds Wearable Medical Devices Market Report is forecast to reach $14.41 billion by 2022 from $6.22 billion in 2017 at a CAGR of 18.3% during (2017-2022) driven by the technological advances in medical devices, increasing penetration of smartphones and growing number of smartphone-based healthcare apps compatible with wearable devices and growing preference for wireless connectivity among healthcare providers and increasing awareness about physical fitness.

Browse 134 Market Data Tables and 34 Figures spread through 161 Pages and in-depth TOC on "Wearable Medical Devices Market by Device (Diagnostic (Heart, Pulse, BP, Sleep), Therapeutic (Pain, Insulin, Rehabilitation)), Application (Sport, Fitness, RPM), Type (Smartwatch, Patch), Distribution Channel (Pharmacy, Online) - Global Forecast to 2022" http://www.reportsnreports.com/reports/781851-wearable-medical-devices-market-by-application-diagnostic-heart-pulse-bp-sleep-fetal-therapeutic-pain-insulin-end-use-sports-fitness-rpm-type-smart-watch-patch-distribution-channel-pharmacy-h-st-to-2021.html .

The wearable medical devices market is highly competitive with several big and small players. Prominent players in this market include Fitbit (US), Philips (Netherlands), LifeWatch (Switzerland), Garmin (Switzerland), and Omron (Japan). The other players operating in this market include Drägerwerk (Germany), Nokia Technologies (US), Jawbone (US), Polar (Finland), Wor(l)d Global Network (US), Activeinsights (UK), VitalConnect (US), Xiaomi (China), Misfit (US), and Monica Healthcare (UK).

In 2017, North America is expected to account for the largest share of the wearable medical devices market followed by Europe. However, Asia Pacific is expected to register the highest CAGR during the forecast period. The high growth in this regional segment is attributed to the increasing spending on healthcare, economic growth, huge population base, and increasing prevalence of diseases. Changes in lifestyle and increasing awareness on wellness and fitness are also expected to drive market growth in the region.

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By device type, the wearable medical devices market is segmented into diagnostic and monitoring devices and therapeutic devices. The diagnostic & monitoring devices segment is expected to register the highest CAGR during the forecast period. The growth of this segment can be attributed to the growing prevalence of chronic and lifestyle diseases and the increasing need for regular and continuous monitoring with fast data sharing.

The sports and fitness segment is expected to dominate the Wearable Medical Devices Market during the forecast period. Based on the application, the wearable medical devices market is segmented into home healthcare, sports and fitness, and remote patient monitoring. During the forecast period, the sports and fitness segment is expected to grow at the highest CAGR. This growth is mainly due to the increasing focus on physical fitness among people to improve the quality of life and growing trend of tracking health progress on a continuous basis.

Based on type, the wearable medical devices market is segmented into activity monitors, smartwatches, smart clothing, and patches. However, the high cost of wearable devices and data security issues may hinder the growth of the market to a certain extent during the forecast period.

Order a copy of "Wearable Medical Devices Market by Device (Diagnostic (Heart, Pulse, BP, Sleep), Therapeutic (Pain, Insulin, Rehabilitation)), Application (Sport, Fitness, RPM), Type (Smartwatch, Patch), Distribution Channel (Pharmacy, Online) - Global Forecast to 2022" research report at http://www.reportsnreports.com/purchase.aspx?name=781851 .

The report provides an overview of the wearable medical devices market. It aims at estimating the market size and future growth potential of this market across different segments such as type, applications device type, distribution channel, and region. Furthermore, the report also includes an in-depth competitive analysis of the key players in the market along with their company profiles, recent developments, and key market strategies.

The primary interviews conducted for the wearable medical devices market report can be categorized as follows:

• By Company Type: Tier 1 - 25%; Tier 2 - 30%; Tier 3 - 45%
• By Designation: C-level - 25%; D-level - 40%; others - 35%
• By Region: North America - 41%; Europe - 30%; APAC - 24%; RoW - 5%

Another research titled mHealth Solutions Market Global Forecasts to 2022 says, the global mHealth solutions market is projected to reach $90.49 billion by 2022 at a CAGR of 33.7% during the forecast period. The mHealth apps segment is expected to grow at the highest CAGR during the forecast period. The vital signs monitoring devices is expected to grow at the highest CAGR during the forecast period. The healthcare application segment is showing the highest CAGR during the forecast period. North America accounted for the largest share of the market in 2016. Companies such as Medtronic plc (Ireland), Apple, Inc. (U.S.), AirStrip Technologies, Inc. (U.S.), AliveCor, Inc. (U.S.), Life Watch AG (Switzerland), Nike Inc. (U.S.), Koninklijke Philips N.V. (Netherlands), Jawbone (U.S.), OMRON Corporation (Japan), Withings (France), Bio Telemetry Inc. (U.S.), Athena health, Inc. (U.S.), AgaMatrix, Inc. (U.S.), iHealth Lab, Inc. (U.S.), AT&T (U.S.), Qualcomm (U.S.), Cerner Corporation (U.S.), Cisco Systems, Inc. (U.S.), Nokia Corporation (Finland) have been profiled in this 375 pages research report available at http://www.reportsnreports.com/purchase.aspx?name=439691 .

Explore more reports on Medical Devices Market at http://www.reportsnreports.com/market-research/medical-devices/ .

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