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Medical Wearable Market Size – USD 7.37 Billion in 2019, Market Growth – CAGR of 21.5%
VANCOUER, BC, CANADA, March 22, 2022 /EINPresswire.com/ — The global Medical Wearable Market is forecasted to be worth USD 34.89 Billion by 2027, according to a current analysis by Emergen Research. An increase in the infiltration of smartphones, along with a rise in the number of smartphone-based healthcare applications, is driving the market for the medical wearables market. Moreover, the preference of healthcare providers for wireless connectivity and surge in the incidence of diseases, such as diabetes, chronic pain, obesity, hypertension, chronic obstructive pulmonary disease, and cardiac disorders, will boost the market growth.
Wearable technology includes electronic devices that consumers can wear, such as smartwatches and Fitbit. They are designed to collect user’s health data. These devices are used to measure various applications such as heart bit measurement, measurement of fitness of the body, ECG measurement, and to monitor blood pressure. The usage of disease-specific functionality smartwatches and biosensors are the future of medical wearables.
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The all-inclusive report on the Global Medical Wearable Market added by Emergen Research demonstrates that the global Medical Wearable Market is presumed to grow at a steady CAGR throughout the forecast timeline. The report analysed the key market drivers, restraints, growth opportunities, investment opportunities, threats, and limitations of the Medical Wearable Market . The report also offers accurate forecast estimation at a global and regional level to impart a better understanding of the scope of the market.
Key players in the market include :
Koninklijke Philips N.V., Medtronic Plc, Omron Healthcare Co., Ltd., Biotelemetry, Inc., Apple, Inc., GE Healthcare, Abbott Laboratories, Dexcom, Inc., Irhythm Technologies, Inc., and Masimo Corporation, among others.
Some Key Highlights from the Report :
The wristband and activity monitor segment held the largest share in the product segment. The medical alert wristbands and bracelets offer a much-needed safety blanket to people with allergies and other various conditions. It helps to make aware of ailments leading to more effective and faster emergency treatment.
A pulse oximeter is a lightweight, small device used to monitor the amount of oxygen carried in the body. This tool is attached painlessly to a patient’s fingertip to measure their pulse rate and amount of oxygen in the system.
Hospitals held the largest share in the medical wearable market. This is due to the increasing investment in the healthcare system and the growing prevalence of chronic and infectious diseases.
The market for the Asia Pacific is presumed to expand at a high CAGR throughout the forecast timeframe. The regional growth can be accredited to India, Japan, and China owing to factors such as the growing advancements by prominent players in these countries and increased support from the government.
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The global Medical Wearable Market report renders notable information about the Medical Wearable Market by fragmenting the market into various segments. The global Medical Wearable Market report delivers a comprehensive overview of the market’s global development including its features and forecast. It requires deep research studies and analytical power to understand the technology, ideas, methodologies, and theories involved in understanding the market.
Key questions answered in the report:
Which are the five top players of the Medical Wearable Market ?
How will the Medical Wearable Market change in the next five years?
Which product and application will take a lion’s share of the Medical Wearable Market ?
What are the drivers and restraints of the Medical Wearable Market ?
Which regional market will show the highest growth?
What will be the CAGR and size of the Medical Wearable Market throughout the forecast period?
Segmented the global Medical Wearable Market :
For the purpose of this report, Emergen Research has segmented into the global Medical Wearable Market on the product, device type, end-user, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Wristband and Activity Monitors
Others (Clothing, glasses, others)
Device Type Outlook (Revenue, USD Billion; 2017-2027)
Vital Signs Monitoring Devices
ECG /Holter Heart Rate Monitors
Blood Pressure Monitors
Glucose Monitoring Devices
Sleep Apnea Monitors
Fetal Monitoring Devices
Neurological Monitoring Devices
End-User Outlook (Revenue, USD Billion; 2017-2027)
Hospitals & Clinics
Nursing Homes, Assisted Living Facilities, Long-term Care Centers
Home Care Settings
Ambulatory Care Centers
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The report also talks about the shift in demands and emerging trends that are expected to drive the growth of the market. The rising demand for the Medical Wearable Market products is expected to drive the demand for Medical Wearable Market , thereby bolstering the growth of the industry. Moreover, the report also studies the impact of the COVID-19 pandemic on the market.
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