How big is the Global Clinical-Grade Wearable Device market?
According to MarkNtel Advisors study, the Global Clinical-Grade Wearable Device market is projected to grow at a CAGR of around 25% during the forecast period, i.e., 2023-28.
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Key Trend: Advent of Technologically Advanced Wearable Devices Augmented the Market Growth
Companies are introducing new and highly innovative products for the consistent and accurate monitoring of health. They have been launching new series & product ranges for medical wearable devices as a result of constant technological innovations. These innovations tend to provide greater ease & flexibility to consumers, which drives the Clinical-Grade Wearables market globally. For instance:
- In 2022, Apple Inc. launched a new Apple Watch Series 8 in India, which offers the ECG app & various features related to women’s health. The two-sensor temperature sensing technology administered the ovulation estimates. Further, new crash detection technology also alerts emergency contacts of the user or nearby facilities in case a crash is detected.
Therefore, the rising trend of incorporating advanced technologies to cater to health-related problems is the primitive reason for the demand for Clinical-Grade wearable devices in the coming years.
Leading Companies in the Global Clinical-Grade Wearable Device market:
- 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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Global Clinical-Grade Wearable Device Market Segmentation:
By Device Type
- Diagnostic Device
- Vital Sign Monitor
- Heart rate Monitors
- Activity Monitors
- Pulse Oximeters
- Blood Pressure Monitors
- Others (Spirometers, Electrocardiographs, etc.)
- Sleep Monitoring
- Sleep Trackers
- Wrist Actigraphs
- Polysomnographs
- Electrocardiographs Fetal & Obstetric Devices
- Neuromonitoring Devices
- Cerebral Oximeter
- Electroencephalographs
- Electromyographs
- Therapeutic Devices
- Pain Management
- Quell Device
- Neurostimulation Device
- Insulin Monitoring Devices
- Insulin Pumps
- Rehabilitation Devices
- Gyroscopes
- Accelerometers
- Magnetometers
- Respiratory Therapy Devices
- Ventilators
- Portable Oxygen Concentrators
- Possible Pressure Airway Devices
Among them, Diagnostic Devices are anticipated to hold the major market share in the Global Clinical-Grade Wearables market, owing to the rising popularity of Vital Sign Monitoring devices.
By Device Site
- Handheld
- Headband
- Shoe Sensors
- Strap/ Bracelet
By Application
- Home Healthcare
- Remote Monitoring
- Sports & Fitness
Regional/ Countries Insight:
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Of all the regions across the globe, North America acquires the majority of the share due to the presence of technological companies & digitalized healthcare infrastructure.
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MarkNtel Advisors is a leading consulting, data analytics, and market research company that provides an extensive range of strategic reports on diverse industry verticals. We being a qualitative & quantitative research company, strive to deliver data to a substantial & varied client base, including multinational corporations, financial institutions, governments, and individuals, among others.
We have our existence across the market for many years and have conducted multi-industry research across 80+ countries, spreading our reach across numerous regions like America, Asia-Pacific, Europe, the Middle East & Africa, etc., and many countries across the regional scale, namely, the US, India, the Netherlands, Saudi Arabia, the UAE, Brazil, and several others.
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