The Business Research Company's latest study on Wearable Medical Devices Market Global Report 2020-30: Covid 19 Growth And Change
LONDON, GREATER LONDON, UK, May 27, 2020 /EINPresswire.com/ — The global wearable medical devices market is expected decline from $8.87 billion in 2019 to $8.35 billion in 2020 at a rate of -5.83%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and reach $16 billion in 2023 at a rate of about 24.4%. The rise in number of chronic diseases coupled with growing awareness among the people is pushing them towards continuous monitoring which boosts the market growth. However, risks pertaining to the access and security of the personal information collected by the third-party healthcare service providers are expected to hamper the growth of the market during the forecast period.
The wearable medical devices market consists of sales of wearable medical equipment and related services that include diagnostic devices and therapeutic devices like vital signs, sleep and neuro monitoring devices, electrocardiographs, pain management, respiratory therapeutic devices among others. The companies involved in wearable medical devices market design, manufacture and market medical wearables like watches, wristbands, clothing, ear wear and other devices for the applications like remote patient monitoring, ear wear, home healthcare, sports and fitness which are designed for patient management and life-style disease management like prevention of diseases and maintenance of health, with advantages such as weight control and physical activity monitoring.
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The global wearable medical devices market is further segmented based on type and geography.
By Device Type: Diagnostic Devices; Therapeutic Devices
By Product Type: Watch; Wristband; Clothing; Ear Wear; Other Devices
By Distribution Channel: Pharmacies; Online Channel; Hypermarkets
By Application: Sports And Fitness; Remote Patient Monitoring; Home Healthcare; Ear Wear
By Geography: The global wearable medical devices market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the North American wearable medical devices market accounts for the largest share in the global wearable medical devices market.
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Trends In The Wearable Medical Devices Market
Integrating artificial intelligence in the wearable medical devices is gaining traction. The data collected by the wearable medical devices lacks value without the integration of artificial intelligence (AI) that better utilizes the data collected.
Wearable Medical Devices Global Market Report 2020 is one of a series of new reports from The Business Research Company that provides wearable medical devices market overviews, analyzes and forecasts wearable medical devices market size and growth for the global wearable medical devices market, wearable medical devices market share, wearable medical devices market players, wearable medical devices market size, wearable medical devices market segments and geographies, wearable medical devices market trends, wearable medical devices market drivers and wearable medical devices market restraints, wearable medical devices market’s leading competitors’ revenues, profiles and market shares. The wearable medical devices market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Read Wearable Medical Devices Global Market Report 2020 from The Business Research Company for information on the following:
Markets Covered: Global Wearable Medical Devices Market
Data Segmentations: Wearable Medical Devices Market Size, Global And By Country; Historic And Forecast Size, And Growth Rates For The World, 7 Regions And 12 Countries
Wearable Medical Devices Market Organizations Covered: Philips, Polar Electro, Omron Corporation, Fitbit Inc., Garmin Ltd., LifeWatch AG (BioTelemetry Inc.), Xiaomi Inc., VitalConnect, Jawbone Inc., General Electric Co.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa
Time Series: Five years historic (2015-19) and forecast (2019-23)
Other Information And Analyses: PESTEL analysis, wearable medical devices market customer information, wearable medical devices market product/service analysis – product examples, wearable medical devices market trends and opportunities, drivers and restraints, key mergers and acquisitions, key metrics covered: number of enterprises, number of employees, global wearable medical devices market in 2020 – countries offering most new opportunities
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Strategies For Participants In The Wearable Medical Devices Industry: The report explains a number of strategies for companies in the wearable medical devices market, based on industry trends and company analysis.
Opportunities For Companies In The Wearable Medical Devices Sector: The report reveals where the global wearable medical devices industry will put on most $ sales up to 2023.
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The Business Research Company has published over 1000 industry reports, covering over 2500 market segments and 60 geographies. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. The reports are updated with a detailed analysis of the impact of COVID-19 on various markets. Here is a list of reports from The Business Research Company similar to the Wearable Medical Devices Global Market Report 2020:
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