Wearable Medical Devices Global Market To Grow At Rate Of 22% Through 2026
The Business Research Company’s Wearable Medical Devices Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026
LONDON, GREATER LONDON, UK, July 1, 2022 /EINPresswire.com/ — According to ‘Wearable Medical Devices Global Market Report 2022 – Market Size, Trends, And Global Forecast 2022-2026’ published by The Business Research Company, the wearable medical devices market size is expected to grow to $49.60 billion in 2026 at a CAGR of 21.9%. According to the wearable medical devices market analysis, the rise in mortality rate due to non-communicable diseases with an increasing prevalence of chronic diseases and lifestyle-associated diseases like hypertension and diabetes contributed to the wearable medical devices market growth.
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The wearable medical devices market consists of sales of wearable medical equipment and related services that include diagnostic devices and therapeutic devices like vital signs, sleep, neuromonitoring devices, electrocardiographs, pain management, and respiratory therapeutic devices among others.
Global Wearable Medical Devices Market Trends
According to the wearable medical devices market overview, integrating artificial intelligence into wearable medical devices is gaining traction. The data collected by wearable medical devices lack value without the integration of artificial intelligence (AI) that better utilizes the data collected. AI doctor which is a standalone network with a deep learning algorithm performs well than trained medical practitioners in conditions like skin lesions, electrocardiograms, medical imaging, and pathology. In 2020, Apple acquired Xnor.ai that develops technology like artificial intelligence to gain access to low-power AI tools for image recognition in wearables and others. A study published in 2019 revealed that AI and biometric monitoring devices are considered as an advantage by 47% of the respondents as it brings efficient healthcare to the patient and an overall of 20% of respondents considered the benefits outweighed the dangers of artificial intelligence integration into wearables. 55% considered that it could improve their follow-up and quality of care, 23% believed it would reduce the cost of treatment. The wearable device app developers are increasingly focused on integrating AI into the apps to analyse the remotely collected data for better interpreting the ailment by an AI doctor.
Global Wearable Medical Devices Market Segments
The global wearable medical devices market is segmented:
By Device Type: Diagnostic Devices, Therapeutic Devices
By Product Type: Watch, Wristband, Clothing, Ear Wear, Others
By Distribution Channel: Pharmacies, Online Channel, Hypermarkets
By Application: Sports and Fitness, Remote Patient Monitoring, Home Healthcare, Ear Wear
By Geography: The global wearable medical devices market report is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, North America accounts for the largest share.
Read more on the global wearable medical devices market report here
Wearable Medical Devices Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides wearable medical devices market overviews, analyzes and forecasts market size and growth for the global wearable medical devices market, wearable medical devices market share, wearable medical devices global market segments and geographies, wearable medical devices global market players, wearable medical devices global market leading competitor revenues, profiles and market shares. The wearable medical devices market report identifies top countries and segments for opportunities and strategies based on market trends and key competitors’ approaches.
TBRC’s Wearable Medical Devices Global Market Report 2022 includes information on the following:
Data Segmentations: Market Size, Global, By Region and Country, Historic and Forecast, and Growth Rates for 60 Geographies
Key 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, USA, South America, Middle East and Africa.
Countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
And so much more.
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Article originally published on www.einpresswire.com as Wearable Medical Devices Global Market To Grow At Rate Of 22% Through 2026
originally published at World News - 195News