The global market for wearable medical technology encompasses continuous glucose monitoring devices, wearable drug delivery devices, wearable patches, sleep monitors, smart watch and smart clothing. These technologies play a critical role in managing and monitoring a variety of chronic diseases ranging from diabetes to cardiovascular diseases. A continuous glucose monitoring device provides a greater view of glucose trends in the body by alerting wearers if their glucose levels are rising or falling too quickly.
The world is witnessing a rapid growth in global wearable medical technology market primarily because of technological innovation, increasing health consciousness and globally rising aging population. Rising aging population is expected to increase the demand for continuous glucose monitor and other wearable technologies that will help clinicians by enabling them up to date information about elderly people health conditions. Wearable medical technology products are expected to reduce the overall healthcare cost in future by providing effective disease monitoring and management. Geographically, North America dominates the global wearable medical technology market as majority of the market players are present here, thus many technological advancements are first introduced in this region. In emerging markets of Asia-Pacific and Latin America, the market is expected to grow due to increase in healthcare awareness, continuously improving economy leading to increased affordability and relatively less competition compared to developed regions.
Some of the key players in this market are Medtronic, Inc., Abbott, AiQ Smart Clothing Inc., Zoll Medical corp., Polar Electro Inc., Philips Healthcare, Diacel Corp., BASF SE, Cambrex Corp. and Solvias AG.
This research report analyzes this market depending on its market segments, major geographies, and current market trends. Geographies analyzed under this research report include
- North America
- Asia Pacific
- Rest of the World
This report provides comprehensive analysis of
- Market growth drivers
- Factors limiting market growth
- Current market trends
- Market structure
- Market projections for upcoming years