Global Medical Wearables Market Size, Share, Forecast Report, 2020-2027
The global medical wearables market is projected to reach USD 19.5 billion by 2025 from USD 7.4 billion in 2020, at a high CAGR of 21.4% during the forecast period of 2020 to 2025. The growing adoption of smartphones, increasing penetration of 3G/4G networks, increasing utilization of connected devices for the management of chronic diseases, rising focus on cost containment in healthcare delivery, rising focus on patient-centric healthcare delivery and the increasing demand for home healthcare services are some of the key factors driving the greater uptake of mobile technologies among both patients and healthcare professionals. However, the lack of standards and regulations, lack of accuracy, standardization and analysis of the wearable-generated data in Clinical- Grade Wearable Market
In 2019 the vital signs monitoring segment accounted for the largest share of the market in 2019.
In 2019, the vital signs monitoring segment accounted for the largest share of the Clinical-Grade market. The large share of this segment can be attributed to the growing use of high-tech devices, which are compact, user-friendly, and come with a better graphical user interface for easy visibility of resulted data are helping to increase the market penetration of clinical-grade wearables. These wearables are playing an integral role in treating and monitoring various medical conditions in patients and driving better health outcomes.
In 2019 the patches segment accounted for the largest share of the market in 2019.
In 2019, the patches segment accounted for the largest share of the Clinical-Grade market. The large share of this segment can be attributed to the growth in the adoption of wearable technology is largely dependent on technological advancements on the telecommunications front. In the past few years, the clinical-grade wearables market has benefited from the growing penetration of 3G and 4G connections across the globe.
North America will continue to dominate the Clinical-Grade Wearable market during the forecast period
North America dominated the Clinical-Grade Wearable market, followed by Europe, the Asia Pacific, Latin America, and the Middle East & Africa. The large share of North America in the Clinical-Grade Wearable market can be attributed to the high penetration of smartphones, tablets, and other mobile platforms; increasing utilization of connected devices & Clinical-Grade Wearable apps for the management of chronic diseases; development & adoption of innovative technologies; rising government initiatives; and the presence of major companies in these regions.
Key Market Players
The global Clinical-Grade Wearable market is highly fragmented, with many large and small firms operating at the regional and country levels. The prominent players in the global Clinical-Grade Wearable market are Medtronic plc. (Ireland), Koninklijke Philips N.V. (Netherlands), OMRON Corporation (Japan), Biotelemetry Inc.(US), Apple, Inc. (US ), Dexcom Inc. (US), Abbott Laboratories(US), Masimo Corporation(US), GE Healthcare (US), Bio-Beat Technologies (Israel), iRhythm Technologies, Inc.(US), VitalConnect (US), Minttihealth (US), Preventice Solutions, Inc. (US), Contec Medical Systems Co.Ltd(China), Biotricity Inc.(US), Verily Life Sciences. (US), Cyrcardia Asia Limited (Hong Kong ), ten3T healthcare (India), VivaLnk, Inc.(US).
The research report categorizes the Clinical-Grade wearable market into the following segments and subsegments:
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
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Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers