Global Wearable Medical Devices Market Report by Commercial Research Company 2022 – Global Market Size, Trends and Forecast 2022-2026
LONDON, GREATER LONDON, United Kingdom, July 1, 2022 /EINPresswire.com/ — According to the “Wearable Medical Devices Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026” published by The Business Research Company, the The medical device market size is expected to reach USD 49.60 billion in 2026 with a CAGR of 21.9%. According to Wearable Medical Devices Market analysis, increasing death rate from non-communicable diseases with increasing prevalence of chronic diseases and lifestyle diseases like hypertension and diabetes has contributed to the growth of the portable medical device market.
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The wearable medical devices market includes the sale of wearable medical equipment and related services, including diagnostic devices and therapeutic devices such as vital signs, sleep, neuromonitoring devices, electrocardiographs, pain management and respiratory therapy devices, among others.
Global Wearable Medical Devices Market Trends
According to the Wearable Medical Devices Market Overview, the integration of artificial intelligence in wearable medical devices is gaining momentum. The data collected by wearable medical devices lacks value without the integration of artificial intelligence (AI) that makes better use of the collected data. AI doctor, which is an autonomous network with a deep learning algorithm, works well as doctors trained in conditions such as skin lesions, EKGs, medical imaging and pathology. In 2020, Apple acquired Xnor.ai which develops technology like artificial intelligence to access low-power AI tools for image recognition in wearable and other devices. A study published in 2019 found that AI and biometric monitoring devices are considered a benefit by 47% of respondents because they bring efficient healthcare to the patient and a total of 20% of respondents considered the benefits l outweighed the dangers of integrating artificial intelligence into wearables. 55% consider that it could improve their follow-up and the quality of care, 23% think that it would reduce the cost of treatment. Wearable device app developers are increasingly focusing on integrating AI into apps to analyze data collected remotely to better interpret the disease by an AI doctor.
Segments of the Global Wearable Medical Devices Market
The global wearable medical device market is segmented:
By type of device: diagnostic devices, therapeutic devices
By product type: Watch, Bracelet, Clothing, Earphones, Others
By distribution channel: pharmacies, online channel, hypermarkets
By Application: Sports & Fitness, Remote Patient Monitoring, Home Healthcare, Earbuds
By Geography: The global Wearable Medical Devices market report is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East & Africa. Of these regions, North America accounts for the largest share.
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The Global Wearable Medical Devices Market Report 2022 is part of a series of new reports by The Business Research Company that provide Wearable Medical Devices market overviews, analysis and forecasts of market size and growth For Global Wearable Medical Devices Market, Wearable Medical Devices Market Share, Wearable Devices Global Wearable Medical Devices Market Segments and Geographies, Global Wearable Medical Devices Market Players, Top Revenues, Profiles and Market Shares competitors in the global wearable medical device market. The Wearable Medical Devices Market report identifies key countries and segments for opportunities and strategies based on market trends and key competitor approaches.
TBRC Global Wearable Medical Devices Market 2022 report includes information on the following:
Data segmentation: market size, global, by region and country, historical and forecast, and growth rate for 60 geographies
Major Market Players: Philips, Polar Electro, Omron Corporation, Fitbit Inc., Garmin Ltd., LifeWatch AG (BioTelemetry Inc.), Xiaomi Inc., VitalConnect, Jawbone Inc., General Electric Co. and Medtronic PLC.
Regions: Asia-Pacific, China, Western Europe, Eastern Europe, North America, United States, South America, Middle East and Africa.
Country: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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