Market Research Insights

According to a study published by Grand View Research, Inc., the wearable medical device market was pegged at USD 10.3 billion in 2018 and is expected to attain a CAGR of 26.1% over the forecast period (2019-2026). Increasing need for upgrading healthcare facilities and to incorporate advanced systems such as remote patient monitoring devices has resulted in the growth of the wearable medical device industry. Although the market provides scope for a lot of opportunities, o issues such as high cost and data security may impede the market growth. Rising focus on fitness and increasing attention on healthy living with availability of equipment and gadgets that provide assistance for tracking heart, food, and fitness are expected to drive the market. Concerns arising due to increasing instances of chronic diseases such as arthritis, heart attack cancer, diabetes, seizures, and obesity are fueling the demand. Governments and other international entities all around the world are also conc

San Francisco, 8 April 2019:  The Report  Wearable Medical Devices Market  Size, Share & Trends Analysis Report By Product Type (Diagnostic, Therapeutic Devices), By Site (Handheld, Headband, Strap, Shoe Sensors), By Application, And Segment Forecasts, 2012 – 2022 Global Wearable Medical Device Market is expected to reach USD 27.8 billion by 2022, according to a new report by Grand View Research, Inc. Rising prevalence of conditions such as obesity and hypertension, as a result of sedentary lifestyle is anticipated to boost the demand for wearable medical devices. Moreover, increasing health awareness is further expected to augment the demand for these devices. Additionally, growing incidences of chronic conditions, such as diabetes, which require round-the-clock monitoring, are expected to increase the demand for wearable technology. Technological innovation is projected to be vital for growth of this industry over the forecast period. Smart watches, smart bands, and sma