Wearable Medical Device Technology And Global Markets, 2021-2023 & 2024-2029: PESTEL Analysis, ESG Analysis, Regulatory Landscape, Reimbursement Scenario And Competitive Landscape

(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Aug. 08, 2024 (GLOBE NEWSWIRE) -- The "Wearable Medical Devices: Technologies and Global Markets" report has been added to ResearchAndMarkets.com's offering.

This research report covers the global market for wearable medical devices segmented based on product, application and sales channel. It incorporates an in-depth analysis of the wearable medical devices market, including market estimations and trends through 2029.

The emergence of wearable technology has disrupted the healthcare industry in recent years, leading to increasing adoption and market growth for wearable medical devices. These devices have an impact far beyond typical consumer uses like fitness and activity tracking and have penetrated the area of medical applications like diagnosis, monitoring and, to a certain extent, the treatment of chronic diseases. The convergence of wearables like smartwatches and activity trackers with medical-grade products has fostered the growth of smart technology in healthcare.

A wide range of wearable medical devices is being developed to address a broad range of ailments. Although these wearable devices are not yet a mainstay in the healthcare industry, many medical device manufacturers have started adding wearable components to their product lines to address unmet needs in-home healthcare and remote monitoring - two areas that are showing exponential growth.

Medical device companies, both industry giants and startups, are investing significantly in research and development (R&D) to develop innovative wearables that can manage a host of medical conditions ranging from obesity and sleep apnea to diabetes, chronic obstructive pulmonary disease (COPD), asthma and cardiac diseases, and even disability rehabilitation and the monitoring of progressive nervous system disorders like Parkinson's disease.

The increasing prevalence of diseases requiring round-the-clock monitoring is an important driver of the wearable medical device market and is expected to significantly contribute to the double -digit growth of the industry, especially considering the global increase in the geriatric population. Specifically, real-time activity and health tracking, remote patient monitoring, the convenience of home healthcare and a booming fitness trend are key factors behind this exponential growth. Technological advancements and attractive product features such as smartphone connectivity are also promoting the adoption of medical wearables.

Concerns such as data privacy, security, an uncertain regulatory landscape, and the high cost of wearable medical devices may act as growth barriers, but market penetration and growth are predicted to continue during the forecast period due to the constant introduction of innovative devices to address healthcare needs and the continuous evolution of the industry to keep pace with the demand for effective and personalized wearable healthcare devices.

The wearable medical device industry is now in a stage of innovation to develop medical-grade devices that can easily be worn and integrated into everyday life by leveraging newer advancements in technology, making them smaller, lighter, and less invasive. Continuous glucose monitoring devices and wearable insulin delivery systems have revolutionized diabetes management and are already rivaling traditional blood glucose monitoring and insulin delivery.

Major players, technologies, applications, market dynamics and geographic opportunities are discussed in detail in the report. This report also examines various analytical frameworks such as PESTEL analysis, ESG analysis, regulatory landscape, reimbursement scenario and competitive analysis, which will aid the companies in devising their strategic plan of action.

Report Includes

• 39 data tables and 62 additional tables
• An analysis of the global markets for wearable medical devices and technologies
• Analyses of global market trends, with market revenue data from 2021 to 2023, estimates for 2024, forecasts for 2029, and projected CAGRs through 2029
• Estimates of the current market size and revenue prospects, along with a market share analysis based on product type, application, sales channel, and region
• Facts and figures pertaining to market dynamics, current and emerging technologies, regulatory scenarios and reimbursement policies, and the expected impact of macroeconomic factors
• Assessment of technologies in development and the probability of their successful commercialization in the next five years
• Overview of sustainability trends and ESG developments in the industry, with a focus on consumer attitudes, companies' ESG score rankings and their ESG practices
• An analysis of the industry structure, including companies' market shares, merger and acquisition activity, and venture funding

Company profiles

• Abbott
• Actigraph Llc.
• Dexcom Inc.
• Ge Healthcare
• Koninklijke Philips N.V.
• Medtronic
• Masimo
• Sensoria Inc.
• Turingsense Inc.
• Vitalconnect
• Vivalnk Inc.
• Vivosensmedical Gmbh
• Wahoo Fitness
• Whoop
• Ybrain Inc.
• Zephyr (Medtronic)
• Zoll Medical Corp.

Key Topics Covered:
Chapter 1 Executive Summary

• Market Outlook
• Scope of Report
• Market Summary

Chapter 2 Market Overview

• Overview
• Market Definition
• Technology Background
• Design and Technical Considerations
• Ergonomics and Wearability
• Interface Design
• Safety and Reliability
• Sensor Design
• Power Consumption and Battery Life
• Data Acquisition
• Feedback
• Privacy and Security
• Integration with Smart Devices
• PESTEL Analysis
• Political
• Economic
• Social
• Technological
• Environmental
• Legal
• Regulatory Landscape
• U.S.
• Europe
• Japan
• Rest of Asia
• Reimbursement Scenario
• U.S.
• Europe
• Japan
• Rest of the World (RoW)

Chapter 3 Market Dynamics

• Market Dynamics
• Market Drivers
• Increasing Prevalence of Chronic Lifestyle Diseases
• Growing Population of Dependents
• Rising Healthcare Expenditure
• Technological Advancements
• Corporate Wellness Programs and Incentives
• Market Restraints
• Data Privacy and Security Concerns
• Slow Adoption Rate in Developing Economies
• Regulatory Scrutiny
• Market Opportunities
• Rising Demand for Home Healthcare and Remote Monitoring
• Increasing Awareness Regarding Health and Fitness
• Growing Penetration of AI and Big Data in Healthcare to Create Smart and Adaptive Wearable Devices

Chapter 4 Emerging Technologies and Developments

• Wearable Electrochemical Sensors
• Wearable Colorimetric Sensors
• Gel Covered Wireless Sensors

Chapter 5 Market Segmentation Analysis

• Key Market Trends
• Segmentation Breakdown
• Global Market for Wearable Medical Devices, by Product
• Trackers
• Smartwatches
• Patches
• Others
• Global Market for Wearable Medical Devices, by Application
• Health and Fitness
• Diagnostics
• Therapeutics
• Rehabilitation
• Global Market for Wearable Medical Devices, by Sales Channel
• Pharmacies
• Online
• Geographic Breakdown
• Global Market for Wearable Medical Devices, by Region

Chapter 6 Competitive Intelligence

• Top Players
• Wearable Technology Funding Deals
• Key Strategies Adopted by Players
• New Product Launch
• Partnerships and Agreements
• Regulatory Approvals
• Collaborations
• Acquisitions
• Other Competitive Strategies

Chapter 7 Sustainability in the Wearable Medical Devices Market: ESG Perspective

• Introduction to ESG
• ESG Performance in the Market
• ESG Practices in the Wearable Medical Devices Industry
• Environmental Performance
• Social Performance
• Governance Performance
• Concluding Remarks

Chapter 8 Appendix

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