Clinical Grade Wearables Market Insights - Global Forecast to 2025
2022-05-06 11:05:26 UTC | Healthcare & Pharmaceuticals
According to the new market research report
Clinical Grade Wearables Market
by Device (Vital Signs Monitoring, Blood Pressure Monitor, Glucose
Monitor, ECG Monitor, Pulse Oximeter), Product (Smartwatch, Patches,
Wristbands), End User (Hospitals, Nursing Homes, Ambulatory) - Global
Forecast to 2025, published by MarketsandMarkets™, the Medical Wearables
Market size is projected to reach USD 19.5 billion by 2025 from USD 7.4
billion in 2020, at a CAGR of 21.4 % during the forecast period.
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The
growing adoption of smartphones, increasing penetration of 3G/4G
networks, growing geriatric population, and rising focus on cost
containment in healthcare delivery are driving the greater uptake of
mobile technologies.
In 2019, the patches segment accounted for
the largest share of the Clinical-Grade market. The large share of this
segment can be attributed to the growth in the adoption of wearable
technology is largely dependent on technological advancements on the
telecommunications front. In the past few years, the clinical-grade
wearables market has benefited from the growing penetration of 3G and 4G
connections across the globe.
In 2019, the vital signs
monitoring segment accounted for the largest share of the Clinical-Grade
market. The large share of this segment can be attributed to the
growing use of high-tech devices, which are compact, user-friendly, and
come with a better graphical user interface for easy visibility of
resulted data are helping to increase the market penetration of
clinical-grade wearables. These wearables are playing an integral role
in treating and monitoring various medical conditions in patients and
driving better health outcomes.
Based on region, the
Clinical-Grade Wearable market is segmented into North America, Europe,
the Asia Pacific, Latin America, and the Middle East & Africa. North
America accounted for the largest market share in 2019. This is due to
the increasing penetration of smartphones, rising prevalence of chronic
and lifestyle disorders, increasing healthcare costs, increasing demand
for better healthcare services, government initiatives to promote
digital health, robust penetration of 3G and 4G networks, and the rising
awareness of self-health management.
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The
prominent players in this Clinical Grade Wearables Market are Medtronic
plc. (Ireland), Koninklijke Philips N.V. (Netherlands), OMRON
Corporation (Japan), Biotelemetry Inc.(US), Apple, Inc. (US ), Dexcom
Inc. (US), Abbott Laboratories(US), Masimo Corporation(US), GE
Healthcare (US), Bio-Beat Technologies (Israel), iRhythm Technologies,
Inc.(US), VitalConnect (US), Minttihealth (US), Preventice Solutions,
Inc. (US), Contec Medical Systems Co.Ltd(China), Biotricity Inc.(US),
Verily Life Sciences. (US), Cyrcardia Asia Limited (Hong Kong ), ten3T
healthcare (India), VivaLnk, Inc.(US).
Available Customizations
With
the given market data, MarketsandMarkets offers customizations as per
the company’s specific needs. The following customization options are
available for the report:
Segment Analysis
> Further
breakdown of the diagnostic & monitoring devices into vital signs
monitoring devices, glucose monitoring, sleep monitoring devices, fetal
monitoring devices, and neuromonitoring devices.
> Further
breakdown of the product market into patches, wristbands and activity
monitors, smartwatches and others (clothing, glass and others)
>
Further breakdown of the end-user market into Hospiatals and clinics,
Long term Care Centers, Home Healthcare and Ambulatory Care Centers
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