LONDON, GREATER LONDON, UK, August 22, 2018 /EINPresswire.com/ -- The global marker for insulin monitoring wearable medical devices is set to increase by over 20% year on year to 2022, a new report from The Business Research Company, Wearable Medical Devices Global Opportunities and Strategies To 2022, shows. The segment is the largest of the therapeutic wearable medical devices market, well ahead of pain management, respiratory therapy and rehabilitation devices. All these segments are, however, growing at close to 20% a year.

Wearable medical devices are small electronic products, often consisting of one or more sensors, that have computational capability. They are embedded into items that are attached to body parts, such as the head, feet, arms, wrists and waist. They can resemble a watch, eyeglasses, clothing, contact lenses, shoes or even jewellery. Straps are currently the most popular way of wearing a medical device, and this segment of the market is growing rapidly, but so are two other segments, headbands and shoe sensors, while handheld and other methods are also growing, but a little less fast.

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There are two reasons in particular for the high growth rate globally of insulin monitoring wearables. One is the increasing prevalence of diabetes. For instance, obesity, a major risk factor for diabetes, is increasing rapidly in areas of the world previously noted more for problems of malnutrition. For instance, obesity in the Asia-Pacific region has grown rapidly: from 2012 to 2016 obesity grew at 5.9% a year in India, 5.5% in China, and 4.5% in Japan. Increases in obesity in these populations are directly proportional to their rise in diabetes cases and indirectly to the growth of the insulin monitoring wearables market. A second reason is that many diabetes patients are afraid or unwilling to prick themselves with lancets each time for testing, which until recently was the only available means of monitoring insulin or blood sugar levels.

The number of customers using wearable monitoring devices is increasing at a rapid pace and is a driver for using wearable medical devices. According to Juniper Research, the market for wearable devices is expected to grow to $6 billion in 2016, up from just $800 million in 2012. Consumers also indicate that they want tele-health. According to an Anthem market study, 74% of USA consumers indicated that they would use telemedicine services. This number is expected to increase as baby boomers continue to become healthcare consumers. As insulin monitoring wearable devices can be linked to telemedicine provision by transmission technology that transfers the results to a physician, these trends also are supporting the insulin monitoring wearables market.

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Wearable Medical Devices Global Opportunities and Strategies To 2022 is one of a new series of industry report from The Business Research Company that provide a market overview, analysis and forecasts of market size and industry statistics, market growth rates, market trends, market drivers, market restraints, market revenues, market shares and company profiles of the leading competitors in over 300 industry reports, covering over 2400 market segments and 60 geographies. The industry reports draw on 150,000 datasets. Extensive secondary research is augmented with exclusive insights and quotations from industry leaders obtained through interviews. Market analysis and forecasts are provided by a highly experienced and expert team of analysts and modellers.

Where To Learn More
Read Wearable Medical Devices Global Market Opportunities And Strategies To 2022 from The Business Research Company for information on the following:
Markets Covered: Consumer Wearable Market, Non-Consumer Wearable Market.
Data Segmentations: Wearable Medical Devices global and regional total, and consumer and non-consumer wearable 2014-22 market size and growth rates.
Wearable Medical Devices Organizations Covered: Koninklijke Philips N.V., Omron Corporation, Zephyr Technology Corporation (a part of Medtronic), Fitbit Inc., Johnson and Johnson, Boston Scientific Corporation, LifeWatch AG.
Regions: North America, Europe, Asia Pacific, ROW (Rest of world)
Time Series: 2014-16 actuals, 2017 estimates, 2018-22 forecasts.
Other Information And Analyses: Porter’s Five Forces Analysis for global wearable medical devices market, value chain analysis, market indicators, wearable technology facts, market drivers, market challenges, market opportunities, company overview, business strategy, financial overview, products and services, SWOT analysis, recent developments, key executives for seven leading global wearable medical devices manufacturers.
Sourcing and Referencing: Data and analysis throughout the report are sourced using end notes.
Number of Pages: 80
Number of Figures: 37
Number of Tables: 27

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