Wearable Medical Devices Market Growing Trends and Forecast by 2032

Wearable Medical Devices Market is expected to grow at a 28.1% CAGR to US$ 73.48 billion by 2032. A growing population and an increasing number of chronic diseases are expected to drive the growth of the wearable medical device market. Companies in the healthcare sector and product approvals have grown rapidly as a result of regulatory efforts, healthcare sector expansion, and an increase in the number of patients.

A patient’s most likely diagnosis and treatments can be identified using 5G and AI. AI can also help healthcare providers predict which patients are anticipated to have complications after surgery to perform preventative actions. Learning in real-time with large amounts of data typically necessitates networks with high availability and high throughput.

With the advent of 5G networks, healthcare providers can use AI applications to provide immediate, high-quality care to patients worldwide. Therefore, cutting-edge advancements such as artificial intelligence and fifth-generation wireless networks are expected to impact wearable medical devices significantly.

Key Takeaways

  • The wearable medical devices market is anticipated to reach a valuation of US$ 324.65 Billion by 2032.
  • North America contributed for 38.1% of global revenue in 2020 because to rising rates of cardiovascular disease, diabetes, and cancer.
  • Market growth is anticipated as a result of the increased use of wearable devices for health management during COVID-19.
  • Rising prevalence of target diseases due to an ageing population and the need to minimise healthcare spending are driving the wearable medical device market.

Competitive Landscape

  • Medtronic plc
  • Siemens AG
  • Fitbit Inc.
  • Bayer AG
  • Panasonic Corporation
  • Animas Corporation - Johnson and Johnson
  • Smiths Medical - A Smiths Group Company
  • Koninklijke Philips N.V.
  • Owlet Baby Care
  • OMRON Corporation
  • Hoffmann-La Roche Ltd and Rest Devices Inc

Get More Insights@ https://www.futuremarketinsights.com/reports/wearable-medical-devices-market

Wearable Medical Devices Market By Segmentation

By Product:

  • Wearable Monitoring and Diagnostic Devices
  • Fetal and Obstetric Devices
    • Wearable Fetal Monitors
    • Infant Motion Sensing Monitors
  • Continuous Glucose Monitoring Devices
  • Cardiac Monitoring Devices
    • Wearable Heart Rate Monitors
    • Wearable Pulse Oximeters
    • Wearable Blood Pressure Monitors
  • Wearable Therapeutic Medical Device
  • Hearing Aid
  • Insulin Pump
  • Respiratory Therapy Devices
    • Sleep Apnea Devices
    • Non-invasive Ventilation
  • Health and Fitness Devices

By Application:

  • Patient Monitoring
  • Home Healthcare
  • Health and Fitness

By Distribution Channel:

  • Hospital Pharmacies
  • Clinics
  • Online Channels
  • Hypermarkets

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