Medical Wearable Market Will Hit Big Revenues In Future | Prominent Players: Koninklijke Philips N.V., Medtronic Plc
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The growing demand for remote patient monitoring and home healthcare devices will drive the demand for the medical wearable market.
VANCOUVER, B.C., CANADA, February 15, 2023 /EINPresswire.com/ -- According to a recent report by Emergen Research, the global market for medical wearables is expected to be worth USD 34.89 billion by 2027. The market for medical wearables is being driven by an increase in smartphone penetration and an increase in the number of smartphone-based healthcare apps. Additionally, the market will rise as wireless connectivity becomes more popular among healthcare providers and conditions like diabetes, chronic pain, obesity, hypertension, chronic obstructive pulmonary disease, and cardiac disorders become more common.
The self-monitoring medical wearables market will expand profitably. The market will benefit from the rise in the prevalence of chronic diseases and cardiac ailments. The market will experience increased demand as 4G network penetration increases and 5G connection demand rises.
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Some Key Highlights from the Report
The product segment's wristband and activity monitor section has the biggest market share. The medical alert wristbands and bracelets provide those with allergies and other disorders with a much-needed safety net. It aids in raising awareness of illnesses, resulting in more effective and quicker emergency care.
A pulse oximeter is a portable, lightweight instrument that measures the body's oxygenation level. For the purpose of measuring a patient's pulse rate and blood oxygen level, this device is painlessly affixed to their fingertip.
The medical wearable market was dominated by hospitals. This is brought on by rising healthcare system spending as well as an increase in the prevalence of infectious and chronic diseases.
The section on the competitive landscape offers valuable and actionable insights related to the business sphere of the Medical Wearable market, covering extensive profiling of the key market players. The report offers information about market share, product portfolio, pricing analysis, and strategic alliances such as mergers and acquisitions, joint ventures, collaborations, partnerships, product launches and brand promotions, among others. The report also discusses the initiatives taken by the key companies to combat the impact of the COVID-19 pandemic.
Key participants include Koninklijke Philips N.V., Medtronic Plc, Omron Healthcare Co., Ltd., Biotelemetry, Inc., Apple, Inc., GE Healthcare, Abbott Laboratories, Dexcom, Inc., Irhythm Technologies, Inc., and Masimo Corporation, among others.
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What Questions Should You Ask before Buying a Market Research Report?
How is the Medical Wearable market evolving?
What is driving and restraining the Medical Wearable market?
How will each Medical Wearable submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2027?
How will the market shares for each Medical Wearable submarket develop from 2020 to 2027?
What will be the main driver for the overall market from 2020 to 2027?
Will leading Medical Wearable markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
How will the market shares of the national markets change by 2027 and which geographical region will lead the market in 2027?
Who are the leading players and what are their prospects over the forecast period?
What are the Medical Wearable projects for these leading companies?
How will the industry evolve during the period between 2020 and 2027? What are the implications of Medical Wearable projects taking place now and over the next 10 years?
Is there a greater need for product commercialisation to further scale the Medical Wearable market?
Where is the Medical Wearable market heading and how can you ensure you are at the forefront of the market?
What are the best investment options for new product and service lines?
What are the key prospects for moving companies into a new growth path and C-suite?
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Emergen Research has segmented into the global Medical Wearable Market on the product, device type, end-user, and region:
Product Outlook (Revenue, USD Billion; 2017-2027)
Patches
Wristband and Activity Monitors
Smartwatches
Others (Clothing, glasses, others)
Device Type Outlook (Revenue, USD Billion; 2017-2027)
Vital Signs Monitoring Devices
ECG /Holter Heart Rate Monitors
Pulse Oximeters
Blood Pressure Monitors
Multiparameter Trackers
Glucose Monitoring Devices
Sleep Apnea Monitors
Fetal Monitoring Devices
Neurological Monitoring Devices
End-User Outlook (Revenue, USD Billion; 2017-2027)
Hospitals & Clinics
Nursing Homes, Assisted Living Facilities, Long-term Care Centers
Home Care Settings
Ambulatory Care Centers
Regional Segmentation
North America (U.S., Canada)
Europe (U.K., Italy, Germany, France, Rest of EU)
Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
Latin America (Chile, Brazil, Argentina, Rest of Latin America)
Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
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