Vancouver, British Columbia, December 23, 2020 (GLOBE NEWSWIRE) – The Global Medical Wearables Market is expected to be worth USD 34.89 Billion by 2027, according to current analysis by Emergen Research. The growing demand for remote patient monitoring devices and home healthcare devices will have a positive impact on the market. In addition, an increase in consumer focus and efforts towards a healthy and wholesome lifestyle will drive the demand for the market product.
The complexity and increase of the data in the medical sector has driven the need for market product. Medical devices are incorporating artificial intelligence (AI) to develop a workable solution. The medical devices are useful in monitoring patients ’health conditions, and their ability to detect cardiac functions could prevent relapse and exacerbate heart failure.
The sedentary lifestyle and frequency of lifestyle-related disorders, such as obesity and diabetes, will drive the market demand in the coming years. The increase in mortality rate due to the non-communicable disease is a major cause of personal examination and care. This will create a huge demand for the market. An increase in breast disease, coupled with the rise in mortality rates, is a major concern among government agencies. The health care providers provide personalized care, including remote patient monitoring.
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Key highlights from the report
- Patients wear wristbands and activity monitors to help alert their caregivers in the event of an emergency. It contains accurate information and manages paramedics when needed. The sector held a large share in the medical wearables market.
- The critical signage monitoring department maintained the largest share due to the growing use of high-tech tools, which are easy to use, tidy, and come with an improved graphical user interface for easy visibility of output data. These wearables play a vital role in the treatment and monitoring of various medical conditions among patients.
- The hospital end-user sector will retain its largest share due to the growing number of cases recorded and rising investment in the healthcare sector by the governments of emerging countries.
- North America accounted for the largest share of the medical wearables market in 2019. The presence of a technologically advanced healthcare system and leading medical device companies in the region are expected to drive market growth in the sector. .
- Key industry partners include Koninklijke Philips NV, Medtronic Plc, Omron Healthcare Co., Ltd., Biotelemetry, Inc., Apple, Inc., GE Healthcare, Abbott Laboratories, Dexcom, Inc., Irhythm Technologies, Inc. ., and Masimo Corporation, among others.
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For the purpose of this report, Emergen Research has made a distinction between the Global medical wearable market based on product, device type, end user, and segment:
- Product forecast (revenue, billion USD; 2017-2027)
- Patches
- Bracelet and activity monitoring
- Smartwatches
- Others (Clothing, glasses, others)
- Machine type forecast (revenue, billion USD; 2017-2027)
- Essential sign monitoring tools
- ECG / Holter Heart Rate Monitor
- Pulse Oximeters
- Blood Pressure Researchers
- Multiparameter fans
- Glucose monitoring tools
- Monitoring sleep apnea
- Fetal examination tools
- Neurological monitoring tools
- Essential sign monitoring tools
- End-user forecast (revenue, billion USD; 2017-2027)
- Hospitals & Clinics
- Nursing Homes, Support Facilities, Long Term Care Centers
- Home Care Situation
- Athletic Care Centers
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- Regional Forecast (Revenue, Billion USD; 2017-2027)
- North America
- US
- Canada
- Europe
- Germany
- RA
- France
- BENELUX
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- The rest of APAC
- Latin America
- Brazil
- The rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- The rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting firm that provides syndicated research reports, custom research reports, and consulting services. Our solutions are just focused on your purpose of tracking, targeting and analyzing trends in consumer behavior across demographics, across businesses, and helping clients make softer business decisions to do. We offer market intelligence analyzes ensuring relevant and factual analysis across a number of industries, including Healthcare, Touch Points, Chemicals, Types and Power. We regularly update our search offerings to ensure that our clients are aware of the latest trends available in the market. Emergen Research has a strong base of experienced analysts from a variety of fields of expertise. Our industry knowledge and ability to develop a solid solution to any research problems enables our customers to gain an edge over their competitors.
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