IMARC Group, a leading market research company, has recently releases report titled “Wearable Medical Devices Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028” The study provides a detailed analysis of the industry, including the global wearable medical devices market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report HighlightsHow big is the wearable medical devices market?The global wearable medical devices market size reached US$ 23.1 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 73 Billion by 2028, exhibiting a growth rate (CAGR) of 22% during 2023-2028.What are wearable medical devices?Wearable medical devices represent autonomous instruments that are non-invasively attached to the body to provide medical monitoring or support. They include various diagnostic devices, such as those that monitor glucose levels, vital signs, sleep, fetal well-being, the nervous system, etc., and numerous therapeutic devices for rehabilitation pain management, and respiratory therapy. Wearable medical devices consist of biosensors, controllers, and software systems for data acquisition, interpretation, transfer, and storage. They incorporate noninvasive physiological sensors, wireless data transmission capabilities, medical feedback, data processing modules, etc. Wearable medical devices also provide supporting hardware to cater to point-of-care treatments. They are extensively utilized by consumers across the globe.Request for a sample copy of this report: https://www.imarcgroup.com/wearable-medical-devices-market/requestsampleWhat are the growth prospects and trends in the wearable medical devices industry?The expanding geriatric population, who are more susceptible to chronic diseases, is among the primary factors driving the wearable medical devices market. Apart from this, the escalating product demand across healthcare centers, on account of the sudden outbreak of the COVID-19 pandemic, is further catalyzing the market growth. Additionally, the increasing adoption of these devices for monitoring, providing feedback, rehabilitation, disease management, suggesting adequate treatments, etc., is acting as another significant growth-inducing factor.Besides this, the inflating product utilization in monitoring physiological information, such as photoplethysmography (PPG), biopotential, blood pressure (BP), etc., is also augmenting the global market. Furthermore, the development of patches, smartwatches, and smart clothing that are integrated with the Internet of Things (IoT) to assist in monitoring various fitness parameters, including footstep count, calories burned, distance walked, etc., is anticipated to fuel the wearable medical devices market over the forecasted period.What is included in market segmentation?Breakup by Device Type:
- Vital Sign MonitoringSleep MonitoringElectrocardiographs and Obstetric DevicesNeuromonitoring Devices
- Pain Management DevicesInsulin Delivery DevicesRehabilitation DevicesRespiratory Therapy Devices