Key Findings of the Global Wearable Medical Devices Market | Technavio

LONDON–(BUSINESS WIRE)–#Research–The latest market research report by Technavio
on the global
wearable medical devices market
predicts a CAGR of around 10%
during the period 2018-2022.

The report segments the global wearable medical devices market by
application (wearable therapeutic medical devices and wearable
diagnostic and monitoring medical devices), by end-user
(home-healthcare, hospitals and clinics, and sports and fitness), and by
geography (the Americas, EMEA, and APAC). It provides a detailed
illustration of the major factors influencing the market, including
drivers, opportunities, trends, and industry-specific challenges.

Here are some key findings of the global wearable medical devices
market, according to Technavio
and life sciences

  • Increasing prevalence of chronic diseases: a major market driver
  • Emergence of innovative wearable medical devices: a key market trend
  • The Americas dominated the global wearable medical devices market with
    45% share in 2017
  • Fitbit, Garmin, Koninklijke Philips, OMRON Corporation, Sonova, and
    William Demant are the leading players in this market

This report is available at a USD 1,000 discount for a limited time
market snapshot before purchasing

Save more with Technavio. Buy 2 reports and get the
third for FREE:
all Technavio’s current offers

Increasing prevalence of chronic diseases: a major market driver

Increasing prevalence of chronic diseases is one of the major factors
driving the global
wearable medical devices market
. The increasing worldwide
prevalence of CVDs such as stroke and cardiac diseases, chronic
respiratory diseases such as asthma, preterm births, neurological
disorders, hearing disorders, chronic pain, chronic diseases such as
diabetes and rise in aging population is estimated to increase the
demand for wearable medical devices.

Patients with chronic diseases such as diabetes, asthma that require
constant monitoring are increasingly adopting these devices. To cut down
on costs and reduce the burden of hospital visits, patients are
preferring wearable medical devices. This is increasing the demand for
wearable medical devices and in turn, driving the growth of the global
wearable medical devices market.

Looking for more information on this market? Request
a free sample report

Technavio’s sample reports are free of charge and contain multiple
sections of the report including the market size and forecast, drivers,
challenges, trends, and more.

Emergence of innovative wearable medical devices: a key market trend

The global wearable
medical devices market
has been witnessing a trend of increased
innovation. Manufactures are designing wearable medical devices to be
more compact, light and ergonomic. Technologies such as system-on-chip
(SoC) and chip scale package (CSP) are enabling the manufacturers to
shrink the size of wearable devices. Technological advancements such as
32-bit ARM architecture and wireless technologies like ANT+ and
Bluetooth low energy (BLE) are helping the manufacturers to design
wearable medical devices that consume low power and thereby have longer
battery life.

According to a senior analyst at Technavio for orthopedics
and medical devices
research, “Many manufacturers have
introduced smartphone compatibility for their devices and have
integrated them with wireless technologies such as Bluetooth, near-field
communication, and cloud-based technologies. Manufacturers have
introduced innovative products in the market by leveraging the
advancements in technology.”

Global market opportunities

In terms of regional dominance, the Americas dominated the global
wearable medical devices market, followed by EMEA and APAC in 2016.
However, the Americas and EMEA are both expected to witness a drop in
their market share over the forecast period which will be absorbed by
APAC. APAC will witness and increase of close to 5% in its market share
by 2022.

Big savings with Technavio this February!

Get 20% OFF on all Education
reports. This offer is valid only till the
28th of this month.


Celebrate winter sports with 23% OFF all reports in our Outdoor
library (Offer valid from Feb 9-25).

About Technavio

is a leading global technology research and advisory company. Their
research and analysis focuses on emerging market trends and provides
actionable insights to help businesses identify market opportunities and
develop effective strategies to optimize their market positions.

With over 500 specialized analysts, Technavio’s report library consists
of more than 10,000 reports and counting, covering 800 technologies,
spanning across 50 countries. Their client base consists of enterprises
of all sizes, including more than 100 Fortune 500 companies. This
growing client base relies on Technavio’s comprehensive coverage,
extensive research, and actionable market insights to identify
opportunities in existing and potential markets and assess their
competitive positions within changing market scenarios.

If you are interested in more information, please contact our media team


Technavio Research
Jesse Maida
Media & Marketing Executive
+1 844 364 1100
UK: +44 203 893 3200