Wearable Healthcare Devices Market Demand | Strong Pipeline to Rapidly Surge Growth

Posted by Ganesh Shinde on May 16th, 2023

The Wearable Healthcare Devices Market Demand is expected to grow rapidly, with a CAGR of 13% from 2022 to 2032. The market is expected to be worth US$ 30 billion by 2026, up from US$ 16 billion in 2021. The global wearable healthcare devices industry is estimated to be valued roughly US$ 61 billion by the end of 2032, representing a 3.8X increase over the current scenario.

Factors driving market growth include rising chronic illness prevalence, technical improvements in wearable medical devices, increased health awareness, and rising patient demand for real-time monitoring of key indicators. During the forecast period, the rising mortality rate from cardiovascular disorders such as diabetes, obesity, heart attacks, and stroke is likely to drive demand for wearable medical devices. According to the World Health Organisation, CVDs caused over 17.9 million deaths in 2019, with heart attacks and stroke accounting for 85% of those deaths.

Key Manufacturers in the Wearable Healthcare Devices Market:

Medtronic PLC, Koninklijke Philips N.V, GE Healthcare, Fitbit Inc, OMRON Corporation, Abbott Laboratories, Garmin Ltd., Dexcom Inc., and Masimo Corporation. 

Browse Detail Summary Of Research Report@ https://www.futuremarketinsights.com/reports/wearable-healthcare-devices-market

Key Segments

By Product:

• Trackers
• Smartwatches
• Pathes
• Smart Clothing

By Application:

• General Health and Fitness
• Remote Patient Monitoring
• Home Healthcare

By Device Type:

• Diagnostic and Monitoring Devices
• Vital Sign Monitoring Devices
• ECG/Heart Rate Monitors
• Blood Pressure Monitors
• Wrist Actigraphs
• Polysomnography Devices
• Traditional Diagnostic Tests

By Grade Type:

• Consumer-grade Wearable Healthcare Devices
• Clinical-grade Wearable Healthcare Devices

By Distribution Channel:

• Pharmacies
• Online Channel
• Hypermarkets