Wearable technology medical devices are small electronic products, often consisting of one or more sensors, and having computational capability. They are embedded into items that are attach to the body parts, such as head, feet, arms, wrists and waist. They can resemble a watch, eyeglasses, some clothing, contact lenses, shoes or even jewelry.
The wearable medical devices market in the USA was valued at around $2 billion in 2016 and is expected to reach nearly $6 billion in 2022, growing at a high CAGR during the forecast period 2017 to 2022. New advances in technology, the US FDA approval for new products, new product launches and a large number of players entering the market in this region are driving the market.
The market in the USA is expected to grow at a steady pace during the forecast period. The main reason for the dominance of the Americas in this market is the rapid acceptance by individuals for technologically advanced products and their increasing demand for on-the-move diagnostic products. Additionally, increasing awareness among the population regarding personal care is propelling the growth of wearable smart gadgets.
Strap was the largest segment in the wearable health device market by site of application accounting for $1.1 billion in 2016. Headband segment is expected to have the highest CAGR of 22.8% whereas handheld segment is expected to have the lowest CAGR of 13.5% during 2017-2022.
Advances in these therapeutic wearable medical devices have led a growing number of patients to use these devices for health monitoring. The integration of IT in most wearable medical devices is increasing and the automated generation of medical records in digital format has also driven the demand for these advanced products.
The health wearables market is characterised by the presence of a large number of players and the number is gradually increasing due to attractive growth of the market. Some of the players operating in this market include Fitbit, Medtronic, Philips, Omron Healthcare, Polar Electro, Cleveland Medical Devices, amongst others.
Request for discount: https://www.thebusinessresearchcompany.com/sample.aspx?id=804&type=discount
Wearable medical technology companies included in the report are Nike (Nike+ FuelBand), Fitbit (Two wristbands (Force and Flex) and two clip-on trackers (Zip and One) and Jawbone.
About The Business Research Company.
The Business Research Company is a Business Intelligence Company which excels in company, market and consumer research. It has offices in the UK, the US and India and a network of trained researchers in 15 countries globally.
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 8897263534
Americas: +1 315 623 0293
Email: [email protected]
Follow us on Linkedin: https://in.linkedin.com/company/the-business-research-company