Home Health Demand for Wearable Therapeutic Devices Accounts for over 50% of Wearable Devices Market Share: Future Market Insights Study

Demand for Wearable Therapeutic Devices Accounts for over 50% of Wearable Devices Market Share: Future Market Insights Study

by PrittlePrattleNews

DUBAI, U.A.E, June 1, 2021, ESOMAR-certified consulting firm Future Market Insights’ report has projected the global wearable medical devices market to grow at a healthy CAGR between 2021 and 2031. The rising prevalence of diabetes and cardiovascular disease has been fuelling the demand for wearable devices across the globe.

Innovations in the biopharmaceutical industry and the rising prevalence of chronic diseases such as diabetes are favoring the market growth. Surging consumer demand for health and fitness solutions and technological developments in the medical field are major factors bolstering the demand for wearable therapeutic medical devices.

Integration of artificial intelligence with smartphones and wearable medical devices has increased the adoption, furthering the demand for wearables. Burgeoning cases of diabetes across the globe have improved the adoption of glucose monitoring devices, especially among the geriatric population.

Also, due to the penetration of online platforms and increasing awareness about health, the demand for wearable medical devices has increased exponentially. Furthermore, increasing expenditure in the healthcare industry across countries such as India, the US, China, and the UK has propelled the market demand.

According to the latest insights of Future Market Insights, the global wearable devices market is poised to expand at over 7% CAGR throughout the forecast period of 2021 and 2031.
“Growing demand for wearable for portable and advanced medical devices to monitor the glucose level and heart rate, due to the increasing cardiovascular diseases and diabetes cases, has been encouraging manufacturers to incorporate technologies such as artificial intelligence and Internet of Thinking (IoT). This will pave way for the expansion of the wearable devices market over the forecast period,” says the FMI analyst

Competitive Landscape

Future Market Insights projects the market is moderately consolidated with the leading players focused on product innovation and new launches to maintain a strong foothold in the industry. Strategic mergers, collaborations and acquisitions are some of the other few strategies to solidify their position in the industry.

In May 2021, Nemaura Medical Inc. announced the purchase of 5000 sugarBEAT transmitters and 200,000 sugarBEAT sensors from a leading company in UK, DB Ethitronix Ltd., that launched sugarBEAT non-invasive daily wear glucose monitoring device in UK.

More Insights on the Global Wearable medical devices Market

Future Market Insights, in its latest study, provides an unbiased analysis of the wearable medical devices market, presenting historical demand for wearable data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the wearable medical devices market with a detailed segmentation on the basis of:

Key Questions Covered in the Report

  • How will the market for wearable medical devices expand through 2031?
  • Which top companies are leading the global wearable medical devices market?
  • What are the key drivers and trends that will stimulate wearable medical devices sales?
  • What are the challenges that will affect the sales on demand of wearable medical devices market?
  • Which region will remain the most lucrative throughout the forecast period?
  • What is the impact of Covid-19 on the demand of wearable medical devices market?

Explore FMI’s Extensive Coverage on the Healthcare Domain

Wearable Pregnancy Devices Market: The wearable pregnancy devices market study by Future Market Insights (FMI) provides deeper insights on the new trends while incorporating the impact of ongoing trends, and growth & restraining factors during the forecast period of 2021 to 2031. Market dynamics have been presented on the basis of prominent drivers, trends and opportunities prevailing across key geographies for the aforementioned decade.

Wearable Medical Robots Market: ESOMAR-certified market analysis and consulting company Future Market Insights (FMI) provides insights driving wearable medical robots market demand for wearable in latest report. Additionally, to find the effect of COVID-19 on the wearable medical robots market in general, the study monitors global wearable medical robots sales in 20+ high-growth markets and addresses their end-user in particular. 

Wearable Glucometers Market: In its latest study, ESOMAR-certified market research and consulting firm Future Market Insights (FMI) offers in-depth insights on key factors that influence the demand for wearable glucometers. The report covers global demand for wearable glucometers in more than 20 high potential markets, in addition to an in-depth analysis of the impact of COVID-19 on the global wearable glucometers market. 

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai and has delivery centers in the UK, U.S., and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.

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