The sector of healthcare is very much affecting and attains a highest market share in the recent trend. In addition, the extensive development in the technology made the operational changes in the cure and provides a platform for playing a significant role in operating the change in the healthcare industry. Moreover, introduction of wearable medical devices in the healthcare industry is playing effective role as with the help of these devices anyone can know about the chemical and physical properties of the human body. Furthermore, the wearable devices are small electronic items which rottenly comprises of one of more sensors and having computational applications. The wearable medical devices can be generally split in the market on the basis of consumer and non-consumer applications. The wearable devices are entrenched into items that are connected directly to the human body parts which include feet, arms, wrists, waist and head. Additionally, with the various applications of wearable medical devices the market has grown more actively in the recent trend.
According to the report analysis, ‘Wearable Medical Devices Global Market Opportunities And Strategies To 2022 Including: Consumer Wearables And Non-Consumer Wearables Covering: Koninklijke Philips N.V., Omron Corporation, Zephyr Technology Corporation (a part of Medtronic), Fitbit Inc., Johnson and Johnson, Boston Scientific Corporation, LifeWatch AG’ some of the major companies which are currently functioning in this domain for defeating the growing demand and requirement of wearable medical devices and attaining the highest share across the globe includesCardiac Insight Inc., Fitbit, Nokia Technologies, Qualcomm, Basis Science, Inc., Fitbit, Omron Corporation, Sotera Wireless, Inc., iRhythm Technologies, LifeWatch AG, Polar Electro Oy, Monica Healthcare Ltd, NUUBO Smart Solutions Technologies, SL, Cosinuss GmbH, Advanced Digital Innovation (UK) Ltd, Dragerwerk AG, AISENS Sp. z o.o., Omron Corporation, Xiaomi Corporation, LG Electronics Inc., Samsung Group, Panasonic Corporation, AsusTek Computer Inc., Casio Computer Co., Ltd., Sony Corporation, Oxitone, Tempdrop, ContinUse Biometrics Ltd., Koninklijke Philips N.V., Stryker Corporation, and Johnson & Johnson. Moreover, the category of consumer wearable items includes fitness and sports, general consumer items, gaming and recreation, fashion and apparel and others. By the product type of device, this categoryof consumer wearable medical devices was the highest accounting for the 63.0% of market share while, is expected that in 2018 it has grown to 74.0%.
On the basis of region, with the effective application of the wearable medical devices the market of this is spread across the globe which includes North America, South America, Western Europe, Eastern Europe, Asia Pacific region, Middle East, Africa and rest of the world. Whereas, the Americas was the largest shareholder in the global market of wearable medical devices. The global market of wearable medical devices grew form USD 3.1 billion in 2014 to USD 5.2 billion in 2017 at a CAGR of 13.8% during the period 2014-2017.
In the coming years, it is expected that the global market of wearable medical devices will grow more actively over the decades with the increasing demand for smart watches, increasing demand for wearable monitors and significant usage of wearable medical devices for cardiovascular disease management.
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