Inventions Propel Wearable Medical Devices Market

Published : Mar-2017

The launch of medical wearable devices has enhanced the growth of the global medical devices market. Major players in the global medical devices market are busy in mechanizing trailblazing yet economical wearable devices. Technology has ministered prominent market players to present inventions in the medical devices. At present, the global wearable medical devices market is the most malleable market in the global medical devices industry.

The revenues of wearable medical devices were sturdy just after this technology was first launched. From then, wearable medical devices have transformed makers of medical devices, doctors, patients, and the health care centers. Global supplies of wearable medical devices are prospective to surpass 106 million in the near future, as rising awareness and disposable salaries continue to influence healthcare resolutions. The top three areas in the market are patient monitoring, health & fitness, and home healthcare. Demand for wearable medical devices will be vigorous in home healthcare sector, with a total revenue estimated to reach US$15,281.5 million in the next few years. Wearable medical devices are gaining ground in the swift growing home healthcare sector, assisting care providers and patients access to important physiological information. Clinics will uphold to be the leading delivery network for wearable medical devices in the forthcoming years. Clinics were estimated to trade US$7,717.0 million worth of wearable medical devices in 2016, up from US$7,348.4 million in 2015.

Emergent occurrences of ailments that involve constant surveillance will endure to increase the call for wearable medical devices in the coming years. Availability of compact, smartphone attuned devices is also foreseen to increase approval. Albeit ordinary selling price of these devices is likely to observe a drop in the coming days, high price still ensues to be a critical limitation for many patients. As technology fashions added evolution and rivalry become more critical, wearable medical devices are anticipated to become more equitable in the future.

The entrance of wearable medical devices was attributed to a better joint attitude towards IoT. Although the Internet of Things has been there for some time, it has recently picked up motion. A trending ecosystem of smartphones and mobile operating systems involving Android and iOS in combination with an unswervingly useful cloud computing system has amplified the accomplishment of the universal medical technology section.

North America will continue to be the leading market, raced by Western Europe and Asia Pacific exclusive of Japan. The North America wearable medical devices market is expected to reach US$9,608.7 million in the coming years. Medtronic plc, Sonova, Koninklijke Philips N.V., and Fitbit Inc. are the prominent companies in wearable medical device market. Venture in start-ups, geographic spreading out, and SMEs carry on to be the central business policy of these companies.

Read more on Medical Devices on:



Filed in:
More Reports
Title Price Buy Now

Farm Equipment Rental Market by Equipment Type (Tractors, Harvesters, Sprayers, Balers & Other Equipment Types), Power Output (<30HP, 31-70HP, 71-130HP, 131-250HP, >250HP), Drive (Two-wheel Drive and Four-wheel Drive), Region – Global Forecast to 2025

“The global farm equipment rental market is projected to grow at a CAGR of 7.3% from 2020 to 2025.” The global farm equipment rentals market is estimated to account for a value of USD 46.8 billion in 2020 and is projected to grow at a CAGR of 7.3% from 2020, to reach a value of USD 66.4 billion by 2025. Factors such as the shortage of farm labor and increasing labor cost, along with rising demand for crop productivity and operational efficiency, are projected to drive the growth of this market. The increasing government subsidies for farming equipment in developing countries further provide open opportunities for growth of the farm equipment rental market. “The four-wheel-drive segment, by drive, is projected to dominate the market by 2025.” The four-wheel-drive segment ac......

Cellular Glass Market by Product Type (Blocks And Shells, And Foam Glass Gravels), Application (Construction, Industrial, and Consumer Abrasive), and Region (North America, Europe, Asia-Pacific, Rest of World) – Global Forecast to 2025

“MarketsandMarkets: The global cellular glass market size is projected to reach USD 618 million by 2025 from estimated revenue of USD 520 million in 2020, growing at a CAGR of 3.5% between 2020 and 2025.” High-quality insulation for industrial purposes and protection against fire and long life are the driving factors for the growth of the cellular glass market. Also, environmental regulations and new application areas are projected to boost the demand for cellular glass in the coming years. “Blocks & shells segment is expected to drive the cellular glass market.” The blocks &shells segment is estimated to witness the highest CAGR during the forecast period. The growing use of blocks & shells in construction and industrial application is driving the growth of th......

Smart Manufacturing Market by Enabling Technology (Condition Monitoring, Artificial Intelligence, IIoT, Digital Twin, Industrial 3D Printing), Information Technology (WMS, MES, PAM, HMI), Industry, and Region – Global Forecast to 2025

“Smart manufacturing market is expected to grow at significant CAGR from 2020 to 2025” The smart manufacturing market is expected to be worth USD 214.7 billion by2020 and USD 384.8 billion by 2025, growing at a CAGR of 12.4% from 2020 to 2025.Major factors driving the growth of the smart manufacturing market include the growing adoption of Industry 4.0, rising emphasis on industrial automation in manufacturing processes, increasing government involvement in supporting industrial automation, the growing emphasis on regulatory compliances, increasing complexities in supply chains, and surging demand for software systems that reduce time and cost. However, threats related to cybersecurity, complexities in implementing smart manufacturing systems, the lack of awareness about the benefit......

Air Traffic Control (ATC) Market by Airspace (ARTCC, TRACON, ATCT, RT), Application (Communication, Navigation, Surveillance, Automation), Offering (Hardware, Software, Services), Investment Type, Sector, Airport Size, and Region – Global Forecast to 2025

“Huge investments in setting up new airports in Asia Pacific and Middle East” The air traffic control market is projected to grow from USD 9.3 billion in 2019 to USD 12.3 billion by 2025, at a CAGR of 4.8%.. Air traffic control (ATC) is an integral part of an airport’s infrastructure. With the increasing focus on operational safety and automation at airports, aviation authorities have been investing in upgrading ATC equipment to ensure efficient aircraft movement and streamline flight operations. The growth of this market is mainly attributed to the rising need for better airspace management and the increasing number of airport expansion projects in Asia Pacific. “ATCT segment is estimated to be largest airspace segment of air traffic control market in 2019” Based on air......

Temperature Sensor Market by Product Type (Thermocouples, RTDs, Thermistors, Temperature Sensor ICs, Bimetallic, Infrared, and Fiber Optic Temperature Sensors), Output, End-user Industry, and Region – Global Forecast to 2027

“The temperature sensor market to grow at CAGR of 4.8% from 2020 to 2027.” The global temperature sensor market size is projected to grow from USD 6.3 billion in 2020 to USD 8.8 billion by 2027, recording a CAGR of 4.8%. The increasing trend of wearable devices and the rising need for temperature control for food safety management provide major growth opportunities to market players. The temperature sensor industry growth is driven mainly by increasing penetration of temperature sensors in advanced and portable healthcare equipment, growing demand for temperature sensors in the automotive sector, and rising adoption of home and building automation systems. Fluctuating raw material prices is expected to restrain the market growth. “Chemicals end-user industry to hold the largest......

Bioplastics & Biopolymers Market by Type (Non-Biodegradable/Bio-Based, Biodegradable), End-Use Industry (Packaging, Consumer Goods, Automotive & Transportation, Textiles, Agriculture & Horticulture), Region – Global Forecast to 2025

The shift in consumer preference towards eco-friendly plastics products is driving the overall bioplastics & biopolymers market. The global bioplastics & biopolymers market size is expected to grow from USD 10.5 billion in 2020 and USD 27.9 billion by 2025, at a CAGR of 21.7% during the forecast period. Consumer awareness toward sustainable plastic solutions and pervasive efforts to eliminate the use of non-biodegradable conventional plastics is contributing to the market growth of bioplastics.Therefore, increasing consumer awareness, along with governmental legislation, is driving the use of bio-based productsis driving the market for biodegradable plastics and bio-based plastics. An increase in waste management regulations in Europe leads to a growing demand for bioplastics......

Cryogenic Equipment Market by Equipment (Tanks, Valves, Vaporizers, Pumps, Others), Cryogen (Nitrogen, Argon, Oxygen, LNG, and Others), End-User (Energy & Power, Chemicals, Metallurgy, Electronics, Shipping, and Others), and Region – Global forecast to 2025

“The cryogenic equipment  market is projected to grow at a CAGR of 6.4% from 2020 to 2025.”     The cryogenic equipment market is projected to reach USD 17.1 billion by 2025 from an estimated USD 12.6 billion in 2020, at a CAGR of 6.4% during the forecast period. Rising demand for LNG across regions is creating demand opportunities for cryogenic equipment. Also, the increasing number of air separation units projects are driving the cryogenic equipment market. However, cryogenic equipment are feasible for large scale applications only. “The tanks, by well type, is expected to be the largest and the fastest-growing market from 2020 to 2025.” Tanks account for the largest share in the global cryogenic equipment market in 2019. Global demand for LNG tanks and micro bulk ta......

Telematics Solutions Market by Service (ACN, eCall, RSA, Remote Diagnostics, Insurance Risk Assessment, Driver Behavior, Billing & Other), Form & Vehicle Type, Component, Connectivity, Aftermarket, Fleet Management Service, Region – Global Forecast to 2025

“Increase in demand for safety services and connectivity solutions in vehicles is the significant factor for the telematics solutions market growth globally.” The telematics solutions market is projected to reach USD 62.6 billion by 2025 from an estimated USD 29.9 billion in 2020, at a CAGR of 15.9% during the forecast period. All the car makers such as Ford, BMW, Audi, Volvo, Hyundai, Toyota, and others are offering some kind of telematics services in their vehicles. Considering the activities from the supply side, the market is expected to demonstrate promising growth over the forecast period. One of the major trends witnessed in the telematics solutions market is the increasing number of collaborations and partnerships among different systems providers, OEMs, telematics servic......

Hi-Fi System Market by System (Product, Device), Connectivity Technology (Wired, Wireless (Bluetooth, Wi-Fi, Airplay, Others)), Application (Residential, Automotive, Commercial, Others), and Geography – Global Forecast to 2025

“Innovations in wireless audio technology drives the Hi-Fi system market.” The Hi-Fi system market is expected to grow from USD 13.6 billion in 2020 to USD 17.5 billion by 2025, at a CAGR of 5.2%. The market growth can be attributed to several factors such as a rise in demand for infotainment services, high spending on R&D by OEMs, innovations in wireless audio technology, and increasing adoption of portable devices. However, issues related to operating frequency compliance for wireless Hi-Fi systems and health issues about prolonged use of audio devices are expected to hamper the growth of the market.  “Wireless connectivity technology expected to register the highest CAGR in the Hi-Fi system market during the forecast period.” The rising adoption of wireless audio s......

Security Information and Event Management Market by Component, Application, Deployment Mode, Organization Size, Vertical (Information, Finance and Insurance, Healthcare and Social Assistance, Utilities), and Region – Global Forecast to 2025

The security information and event management market is expected to grow at a CAGR of 5.5% during the forecast period due to the push from regulatory bodies across the globe and increase in adoption of cyber security solutions. The global Security Information and Event Management (SIEM) market size is expected to grow from USD 4.2 billion in 2020 to USD 5.5 billion by 2025, at a CAGR of 5.5% during the forecast period. The need for continuous monitoring and incident response, adhering to compliance requirements, gaining and maintaining certifications, and managing and retaining logs are the primary factors to drive the demand for the SIEM market during the forecast period. Cloud segment to hold a higher market share during the forecast period SIEM solutions are deployed using two ......
We use cookies to deliver the best possible experience on our website.
By continuing to use this site, or closing this box, you consent to our use of cookies. To learn more, visit our Privacy Policy