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Wearable Medical Devices Market Trends
- Report ID: GMI3509
- Published Date: Aug 2024
- Report Format: PDF
Wearable Medical Devices Market Trends
- Advances in sensor technology and miniaturization have enabled the development of more accurate and comfortable devices, enhancing user compliance and expanding their applications.
- Additionally, the integration of artificial intelligence (AI) and machine learning (ML) algorithms allows for more sophisticated data analysis and predictive insights, improving disease management and early detection of health issues.
- Furthermore, the increasing prevalence of chronic diseases, such as diabetes and cardiovascular conditions, fuels the demand for continuous monitoring solutions.
- Moreover, the COVID-19 pandemic has accelerated the adoption of telemedicine and remote patient monitoring devices, highlighting the importance of wearables in reducing hospital visits and enabling healthcare at home.
Frequently Asked Questions (FAQ) :
The wearable medical devices market size was valued at around USD 105.1 billion in 2023 and is estimated to register 15.9% CAGR from 2024 – 2032 owing to the growing prevalence of chronic diseases globally.
The fitness monitoring segment in the market was valued at USD 24 billion in 2023 due to the rise in lifestyle-related health issues.
North America market is forecast to reach USD 124 billion by 2032 attributed to the advanced healthcare infrastructure and higher medical expenditure.
Abbott laboratories, Apple Inc., Alphabet Inc., Garmin Ltd., Hocoma AG, Koninklijke Philips N.V., LifeSense Group B.V., and Samsung among others.
Wearable Medical Devices Market Scope
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