Wearable Medical Devices Market, Growth Factors, Applications, Regional Analysis and Forecast 2024by VynZ Research Marketing Research Consultant
The global wearable medical devices market is growing at significant rate, due to technological advancement in medical devices, and boosting penetration of smartphones. The market has witnessed high demand for activity monitors over the last few years due to increasing prevalence of lifestyle associated and chronic diseases.
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The increasing emphasis on physical fitness, mounting demand for wireless connectivity amongst healthcare providers and increasing number of smartphone based healthcare apps compatible with wearable devices are the primary growth drivers for wearable medical devices market
Increasing awareness and growing preference of home healthcare, and increasing demand for remote patient monitoring is also facilitating the growth for the wearable medical devices industry. Mounting healthcare cost and growing geriatric population has increased the need for remote patient monitoring.
North America is the largest wearable medical devices market as in the region the healthcare infrastructure is developed. Technological advancement and development of vastly advanced healthcare app and compatible devices are also up surging growth of the North American wearable medical devices market.
Asia-Pacific is observed to witness the fastest growth in the market, as the region comprises of increasing adoption of smartphones, large population base, increasing prevalence of lifestyle associated diseases and favorable government support.
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Key players in the wearable medical devices market are catering the demand of these devices by investing on technologically advanced products in their product portfolio across the globe.
Fitbit Inc., Koninklijke Philips N.V., Polar Electro, Drägerwerk, Nokia Technologies, World Global Network, VitalConnect, and Xiaomi are the some of the key players offering wearable medical devices.
Source: VynZ Research
Created on Apr 4th 2019 03:19. Viewed 127 times.