Medical Wearables Market Global Trends, Industry Share, Growth Factor, Segmentation, Top Key Players Forecast Research by 2026

(The Express Wire via Comtex)

Increasing prevalence of chronic diseases worldwide will be the foremost factor driving the global “medical wearables market size” during the forecast period. According to the World Health Organization (WHO), the incidence of chronic diseases is likely to rise by 57% by 2020, with cardiovascular disorders and diabetes leading the charge. Added to this are the statistics released by the World Economic Forum (WEF) which say that nearly 33% of adults globally are suffering from multiple chronic conditions. The WEF further states that existence of multiple chronic diseases can spike medical payments by 100% and can therefore have a crippling effect on the economy.

Leading Players operating in the Medical Wearables Market are:

Key players are involved in mergers and acquisition to strengthen their market position. Owing to increasing competition frequent innovations are taking place in the market. Some of the companies operating the industry are:

  • Nokia Technologies
  • Fitbit, Inc.
  • Monica Healthcare Inc.
  • Drägerwerk AG and Co.
  • VitalConnect
  • LifeWatch
  • Xiaomi
  • Activinsights Ltd.
  • Omron Healthcare, Inc.
  • Misfit

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The emergence of COVID-19 has brought the world to a standstill. We understand that this health crisis has brought an unprecedented impact on businesses across industries. However, this too shall pass. Rising support from governments and several companies can help in the fight against this highly contagious disease. There are some industries that are struggling and some are thriving. Overall, almost every sector is anticipated to be impacted by the pandemic.

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Privacy Concerns May Hinder Market Growth

Medical wearables essentially require the internet and Bluetooth technology to transmit health data to patients or doctors. This factor makes these devices vulnerable to cyberattacks, the incidence of which is rising fast. As a result, critical data can be lost or misused, putting the lives of patients on the line. Scepticism regarding privacy and security of information are, therefore, valid and can thus prove to be a major roadblock for the medical wearables market growth in the forecast period. Apart from privacy concerns, these machines suffer from other limitations as well. For example, these devices have an insufficient battery life and since they operate on Bluetooth, the battery drains even more quickly. This high dependence on battery will be a critical challenge for this market.

North America and Europe to Emerge as the Largest Markets for Medical Wearables

Among regions, North America is slated to dominate the medical wearables market share, followed swiftly by Europe. This dominance of these two regions is attributable to factors including rising prevalence of lifestyle-induced diseases and rapid adoption of advanced wearable technologies. On the other hand, Asia-Pacific will rise at a steadfast pace owing to increasing healthcare expenditure and growing incidence of chronic diseases, mainly diabetes and hypertension, in India and China.

Detailed Table of Content:

  1. Introduction
  2. Executive Summary
  3. Market Dynamics
  1. Key Insights
  2. Global Market Analysis, Insights and Forecast, 2026
  3. North America Medical Wearables Market Analysis, Insights and Forecast, 2026
  4. Europe Medical Wearables Market Analysis, Insights and Forecast, 2026
  5. Asia Pacific Market Analysis, Insights and Forecast, 2026
  6. Middle East and Africa Medical Wearables Market Analysis, Insights and Forecast, 2026
  7. Latin America Market Analysis, Insights and Forecast, 2026
  8. Competitive Landscape
  9. Company Profile
  10. Conclusion

Reasons to Purchase this Report:

  • Comprehensive analysis of the Medical Wearables Market growth drivers, obstacles, opportunities, and other related challenges.
  • Tracks the developments, such as new product launches, agreements, mergers and acquisitions, geographical expansions, and joint ventures.
  • Identifies market restraints and boosters.
  • Identifies all the possible segments present in the market to aid organizations in strategic business planning.

KEY QUESTIONS ANSWERED:

  • What are the key technological and Medical Wearables Market trends shaping the market?
  • What are the key opportunities in the market?
  • What are the key companies operating in the market?
  • Which company accounted for the highest market share?
  • Why Choose Fortune Business Insights?
  • What is the market size and growth rate of the global and regional market by various segments?
  • What is the market size and growth rate of the market for selective countries?
  • Which region or sub-segment is expected to drive the market in the forecast period?
  • What Factors are estimated to drive and restrain the Medical Wearables Market growth?

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Press Release Distributed by The Express Wire

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