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Clinical-Grade Wearable Device Market Projections: Size and Share Trends from 2023-28
Global Clinical-Grade Wearable Device Market Overview and Insights:
According to MarkNtel Advisors Report, Global Cliincal-Grade Wearable Device Market projected to grow at a CAGR of around 25% during the forecast period, i.e., 2023-28.
Clinical-Grade Wearable Device Market research is an ongoing process. Consistent monitoring and evaluating of market dynamics to stay informed and adapt your strategies accordingly. As a market research and consulting firm, we offer market research reports that focus on major parameters including Target Market Identification, Customer Needs and Preferences, Thorough Competitor Analysis, Market Size & Market Analysis, and other major factors. At the end, we do provide meaningful insights and actionable recommendations that inform decision-making and strategy development.
Time Period Captured in the Report:
Historical Years: 2018-21
Base Years: 2022
Forecast Years: 2023-28
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Clinical-Grade Wearable Device Market Driver:
Rising Demand for Incessant Health Monitoring for Diabetes & Related Health Issues: Over the past few years, there has been an increase in the population suffering from diabetes, thereby generating the demand for Clinical-Grade wearable devices for examining glucose levels at regular intervals of time. According to World Health Organization, over 422 million people are suffering from diabetes, globally, which leads to over 1.5 million deaths per year. Consequently, patients use glucose-monitoring wearable devices and insulin pumps to keep track of their sugar levels and deliver insulin precisely at designated times. This helps patients maintain their blood sugar levels efficiently.
Who are the Key Players Operating in the Clinical-Grade Wearable Device Industry?
The top companies of the Clinical-Grade Wearable Device market ruling the industry are:
- Abott Laboratories
- Siemens Healthcare GmbH
- Koninklijke Philips N.V.
- Omron Corporation
- Sotera Wireless
- Everist Health
- Polar Electro
- Zephyr Technology Corporation
- Intelesens Ltd
- Fitbit Inc.
- LifeWatch AG.
- Garmin
- Contec Medical Systems Co. Ltd.
- Vital Connect
- Dexcom, Inc.
- Medtronic Plc
- Polar Electro
- Ge Healthcare
- Others (Preventice Solutions, Inc., Covidien, etc.)
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What is Included in Clinical-Grade Wearable Device Market Segmentation?
The report has segmented the market into the following categories:
-By Device Site
- Handheld
- Headband
- Shoe Sensors
- Strap/Bracelet
Of them all, Straps/Bracelets are estimated to acquire a major share in the Global Clinical-Grade Wearables market, owing to the rising popularity of Bluetooth-connected smartwatches worldwide. Smart bracelets with functions similar to smartwatches have become increasingly popular among individuals due to their convenience & competitive pricing compared to other wearable devices.
Further, the rising development & availability of mobile apps that are compatible with strap/bracelet medical wearables allow data recording & display, allowing consumers to track their health conditions. These include heart rate monitoring, calculation of calories, blood pressure measurement, step management, motion tracking, and sedentary reminders, among others, which notably help individuals to monitor their health statistics.
-By Device Type
- Diagnostic Device
- Therapeutic Devices
-By Application
- Home Healthcare
- Remote Monitoring
- Sports & Fitness
Geographical Analysis:
-By Region
- North America
- South America
- Asia-Pacific
- Europe
- Middle East & Africa
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