Global Wearable Medical Devices Market 2020-2024 | Evolving Opportunities with Garmin Ltd. and Apple Inc. | Technavio
LONDON--(BUSINESS WIRE)--Feb 10, 2020--
The wearable medical devices market is poised to grow by USD 10.24 billion during 2020-2024, progressing at a CAGR of over 10% during the forecast period. Request free sample pages
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Technavio has announced its latest market research report titled global wearable medical devices market 2020-2024 (Graphic: Business Wire)
Read the 120-page report with TOC on "Wearable Medical Devices Market Analysis Report by Application (Therapeutic medical devices and Diagnostic and monitoring medical devices), Geographic segmentation (North America, Europe, Asia and ROW), and the Segment Forecasts, 2020-2024".
The market is driven by the increasing prevalence of chronic diseases. In addition, the emergence of innovative wearable medical devices is anticipated to boost the growth of the wearable medical devices market.
The prevalence of chronic conditions such as CVDs, respiratory diseases, diabetes, and cardiac diseases is increasing around the world. Patients suffering from these medical conditions require constant monitoring, which is driving the demand for wearable medical devices. These medical devices offer many benefits such as ease of data transfer, cost-effectiveness, real-time and continuous monitoring, and high patient convenience and comfort. Patients increasingly prefer wearable medical devices to cut down on costs and minimize the burden of hospital visits. Thus, the increasing prevalence of chronic diseases is expected to drive market growth during the forecast period.
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Major Five Wearable Medical Devices Market Companies:
Apple Inc. operates the business under various segments such as Americas, Europe, Greater China, Japan, and Rest of Asia Pacific. The company offers Apple Watch Series 5, Apple Watch Series 4, and Apple Watch Series 3.
BioTelemetry Inc. offers products through the following business units: Healthcare and Research. The company offers MCOT Patch, MCT 3 Lead (MCT 3L), wEvent, and ePatch.
Demant AS operates under various business segments, namely Hearing Devices, Diagnostic Instruments, and Hearing Implants. The company offers Oticon Xceed, Rechargeable miniRITE T R, Captivate, and Others.
Garmin Ltd. offers products through the following business segments: Fitness, Outdoor, Auto, Aviation, and Marine. The company offers Venu, vívoactive 4S, vívofit jr. 2, vívosmart 4, and Others.
General Electric Co.
General Electric Co. offers products through the following business segments: Aviation, Power, Oil and gas, Healthcare, Renewable energy, Transportation, Lighting, and Capital. The company offers Novii Wireless Patch System, which is a wearable fetal or maternal monitor.
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Wearable Medical Devices Market Application Outlook (Revenue, USD Billion, 2020-2024)
- Therapeutic medical devices
- Diagnostic and monitoring medical devices
Wearable Medical Devices Market Geographic Outlook (Revenue, USD Billion, 2020-2024)
- North America
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Related Reports on Health Care Include:
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INDUSTRY KEYWORD: MEDICAL DEVICES HEALTH
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PUB: 02/10/2020 09:00 AM/DISC: 02/10/2020 09:01 AM