New Research: Lucintel Predicts a Bright Future for the Wearable Medical Device Market

Did you know that Lucintel recently published a market research report entitled “Growth Opportunities in the Global Wearable Medical Device Market”?
This market report for wearable medical device identifies and predicts future opportunities for growth in global wearable medical device industry for various segments as well as for various regions such as North America, Europe, Asia Pacific, and the Rest of the World. It also identifies growth opportunities for the wearable medical device in home healthcare and remote patient monitoring.
North America is expected to remain the largest as well as the highest growth region due to high disposable income, rising chronic conditions, and acceptance of technologically advanced products in this region.
According to Lucintel’s market report, the global wearable medical device market is expected to reach an estimated $9.4 billion by 2022 and it is forecast to grow at a CAGR of 14.9% from 2017 to 2022. The major drivers of growth are increasing awareness and importance of fitness and healthy lifestyle, rising chronic diseases, and technological innovations. Some of the dominant players in the global wearable medical device market are Medtronic Plc, Roche Holding AG, and Animas Corporation (Johnson & Johnson).
On the basis of its comprehensive research, Lucintel forecasts that diagnostic wearable device is expected to show the highest growth during the forecast period from 2017 to 2022.
There are some interesting developments in global wearable medical device market as competition heats up and players try to increase their market share. Some of the Emerging trends, which have a direct impact on the dynamics of the market, include the increasing usage of wearable biofeedback devices and increasing adoption of cloud technology for interconnected healthcare devices. Medtronic Plc, Roche Holding AG, and Animas Corporation (Johnson & Johnson) are the major manufacturers of the wearable medical device market.
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