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Wearable Medical Devices Market Size

  • Report ID: GMI3509
  • Published Date: Dec 2022
  • Report Format: PDF
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Wearable Medical Devices Market Size

Wearable Medical Devices Market size was valued at over USD 78 billion in 2022 and is poised to register over 24% CAGR from 2023 to 2032 owing to Rising disposable income and healthcare expenditure in emerging countries.

 

Wearable Medical Devices Market

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The increase in number of people suffering from chronic health issues such as diabetes and cardiac ailments is expected to positively shape the industry landscape. In addition, the increasing adoption of sedentary lifestyles and unhealthy dietary habits such as overconsumption of alcohol and smoking has increased the incidence rate of cardiovascular diseases (CVDs), further elevating the demand for wearable medical devices.
 

Wearable Medical Devices Market Report Attributes
Report Attribute Details
Base Year:2022
Wearable Medical Devices Market Size in 2022:USD 78.19 Billion
Forecast Period:2023 to 2032
Forecast Period 2023 to 2032 CAGR:24.2%
2032 Value Projection:USD 750.27 Billion
Historical Data for:2018 to 2022
No. of Pages:184
Tables, Charts & Figures:210
Segments covered:Device, Application, End-use, and Region
Growth Drivers:
  • Increasing awareness regarding physical fitness and wearable devices among the population base in developing countries
  • Growing prevalence of chronic diseases globally
  • Technological advancements in wearable devices
  • Rising disposable income and healthcare expenditure in emerging countries
Pitfalls & Challenges:
  • Issues related with data security
  • Cost-intensive nature of wearable devices
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Authors: Mariam Faizullabhoy

Frequently Asked Questions (FAQ) :

Global market for wearable medical devices crossed USD 78 billion in 2022 and is slated to grow at over 24% CAGR from 2023 to 2032 owing to the increase in incidences of chronic ailments and adoption of sedentary lifestyles and unhealthy eating habits.

The overall market value from respiratory monitors is anticipated to surpass USD 83.5 billion by 2032, owing to the high accuracy and cost-effectiveness of respiratory monitors and acute shortage of hospital beds and ventilators globally.

Europe wearable medical devices market is poised to register over USD 200 billion by 2032, owing to rise in number of patients with chronic disorders, obesity and a growing population base adopting a sedentary lifestyle in the region.

Some key contenders partaking in the global business share include Samsung, Apple Inc., Abbott Laboratories, Fitbit, Inc., Hocoma AG, Garmin Ltd., Lifesense, Koninklijke Philips N.V., among others.

Wearable Medical Devices Market Scope

  • Wearable Medical Devices Market Size
  • Wearable Medical Devices Market Analysis
  • Wearable Medical Devices Market Share

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    Premium Report Details

    • Base Year: 2022
    • Companies covered: 12
    • Tables & Figures: 210
    • Countries covered: 19
    • Pages: 184
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