Wearable Medical Devices Market
This research analyses niche markets, potential threats, and competitive strategy in various segments based on the Wearable Medical Devices Market competitive landscape and development model in various parts of the world. This research throws light on the business strategies of the key players that might help in the growth of other companies during the pandemic era.
Impact of COVID-19 on Wearable Medical Devices Market
As the world grapples with one of its greatest health pandemic, the economic and social disruption has affected millions of enterprises. The revenues have gone down in the year 2020 and may resume an uptrend gradually from 2021. Companies optimizing their operation and strategy will sustain and beat the competition. Stratview Research throws light on in-depth insights related to rapid alterations in the key players in each industry, growth and decline due to COVID-19, etc. The researchers at Stratview Research are regularly connecting with the clients and other key players of almost all the industries, regarding the impact of COVID-19 on their businesses.
Key Players involve in this research are:
- Koninklijke Philips N.V. (Netherlands),
- Zephyr Technology Corporation (The U.S),
- Omron Corporation (Japan),
- Sotera Wireless, Inc. (The U.S),
- Everist Health (The U.S),
- LifeWatch AG (Switzerland),
- Withings (France),
- Polar Electro Oy (Finland),
- Intelesens Ltd (UK),
- Fitbit, Inc. (The U.S),
- Vital Connect, Inc. (The U.S), and
- Garmin Ltd. (The U.S).
Growth drivers and Market Value:
This report, from Stratview Research Wearable Medical Devices Market value and growth drivers over the trend period of 2021-26. According to the report -
The Wearable Medical Devices Market is expected to grow from USD 17.4 billion in 2020 to USD 60.5 billion by 2026 at a CAGR of over 23.7% during the forecast period.
Segment Analysis:
Application Trends
Based on application, the market has been segmented into sports and fitness, remote patient monitoring, and home healthcare.
- The home healthcare segment accounted for the largest market share in 2020.
- Expanding geriatric population and prevalence of chronic diseases has resulted in increased demand for devices to monitor health continuously at home and reduce the number of frequent hospital visits and thus, curb healthcare expenditure.
Regional Trends
Geographically, the market in North America accounted for the largest market share in 2020 owing to expanding geriatric population and increasing number of people having non-communicable disease due to changing lifestyle.
- Additionally, the high adoption rate of technologically advanced healthcare products coupled with high purchasing power is another important factor propelling the market growth.
- The market in the Asia-Pacific region is projected to register the fastest growth during the review period on account of the increasing usage of fitness devices coupled with rising per capita disposable income.
Competitive Analysis: Understanding your rivalry is critical to your success. This section includes an analysis of your key competitors, their products/services, their differentiators, and market shares, etc.
Target Market and Audience: Identifying and prioritizing specific target markets is another key part of any industry, where research is crucial. Stratview Research’s report will help you find more about the demographics and buying behaviours of your potential customers.
Key Considerations for Market Forecast:
- Impact of lockdown, supply chain disruptions.
- Pre and post-COVID-19 market estimates
- Geographical Breakdown: Regional level analysis of the market, currently covering North America, Europe, China & Japan
Impact of COVID-19 on the Global Market
The Wearable Medical Devices report compiled by Stratview Research offers in-depth study of market opportunities and market impact that are stirred due to the COVID-19 pandemic. The detailed research report focuses upon the direct and indirect impact of COVID-19 with new product launches, M&As, supply chain overview, government regulations, strategies adopted by related market, etc.
Sneak peek into the Report:
The report provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:
- Market structure: Overview, industry life cycle analysis, supply chain analysis
- Market forecast analysis
- Competitive landscape and dynamics: Market share, product launches, etc.
- Attractive market segments and associated growth opportunities
- Emerging trends & Key success factors
