Wearable technology
medical devices are small electronic products, often consisting of one or more
sensors, and having computational capability. They are embedded into items that
are attach to the body parts, such as head, feet, arms, wrists and waist. They
can resemble a watch, eyeglasses, some clothing, contact lenses, shoes or even
jewelry.
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The wearable
medical devices market in the USA was valued at around $2 billion in 2016 and
is expected to reach nearly $6 billion in 2022, growing at a high CAGR during
the forecast period 2017 to 2022. New advances in technology, the US FDA
approval for new products, new product launches and a large number of players
entering the market in this region are driving the market.
The market
in the USA is expected to grow at a steady pace during the forecast period. The
main reason for the dominance of the Americas in this market is the rapid
acceptance by individuals for technologically advanced products and their
increasing demand for on-the-move diagnostic products. Additionally, increasing
awareness among the population regarding personal care is propelling the growth
of wearable smart gadgets.
Sample report:
Strap was
the largest segment in the wearable health device market by site of application
accounting for $1.1 billion in 2016. Headband segment is expected to have the
highest CAGR of 22.8% whereas handheld segment is expected to have the lowest
CAGR of 13.5% during 2017-2022.
Advances in these therapeutic
wearable medical devices have led a growing number of patients to use these
devices for health monitoring. The integration of IT in most wearable medical
devices is increasing and the automated generation of medical records in
digital format has also driven the demand for these advanced products.
The health wearables market is characterised by
the presence of a large number of players and the number is gradually
increasing due to attractive growth of the market. Some of the players
operating in this market include Fitbit, Medtronic, Philips, Omron Healthcare,
Polar Electro, Cleveland Medical Devices, amongst others.
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Wearable medical technology companies included in the report
are Nike (Nike+ FuelBand), Fitbit (Two wristbands (Force
and Flex) and two clip-on trackers (Zip and One) and Jawbone.
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