Wearable Medical Devices Market Size, Trends and Industry Forecast 2024-2032

SHERIDAN, WYOMING, UNITED STATES, May 30, 2024 /EINPresswire.com/ — IMARC Group Report titled “Portable Medical Devices Market Report by Device Type (Diagnostic Devices, Therapeutic Devices), Product (Activity Trackers, Smart Watches, Patches) , smart clothing), hearing aids and others), application (sports and fitness, remote patient monitoring, home health care), distribution channel (offline, online) and region 2024–2032. The global wearable medical device market size reached $28.2 billion in 2023. IMARC Group expects the market to reach $143.2 billion by 2032, representing a CAGR of 19.2% over 2024-2032.

For an in-depth analysis, you can check out a sample copy of the report: https://www.imarcgroup.com/wearable-medical-devices-market/requestsample

Factors influencing the development of the portable medical devices industry:

● Technological progress:

Innovations in microelectronics allow for the miniaturization of sensors and batteries, making portable devices more convenient and less invasive. This miniaturization enables the development of devices that can be worn for extended periods of time without discomfort, increasing user acceptance. Technological advances are significantly improving the accuracy and reliability of sensors used in portable medical devices. This means the devices can now monitor vital signs and other health indicators with precision comparable to traditional medical equipment, increasing their usefulness in clinical settings and personal health management.

● Increasing health awareness:

More and more people realize the importance of preventive health measures in avoiding chronic diseases and maintaining overall well-being. Portable medical devices such as fitness trackers and health trackers allow users to monitor their physical activity, sleep patterns, heart rate, and more, encouraging a proactive approach to health. People suffering from chronic diseases use portable medical devices for self-treatment. Devices that monitor blood glucose levels, heart rate and blood pressure enable patients to cope with their conditions more effectively, reducing the need for frequent doctor visits and enabling patients to take control of their health.

● Increase in the number of chronic diseases:

Wearable devices enable continuous monitoring of health indicators relevant to chronic diseases, such as blood glucose levels in the case of diabetes, heart rate and heart rate in the case of cardiovascular diseases, and oxygen saturation in the case of respiratory diseases. Continuous monitoring can alert users to potential problems before they become serious, facilitating early intervention. By providing real-time data, wearable devices help manage chronic diseases more effectively. Moreover, the growing demand for wearable devices that track blood glucose levels and send alerts when the levels are too high or too low can significantly help in diabetes management by reducing the risk of complications, which is driving the market growth.

Leading companies operating in the global portable medical devices industry:

● Abbott Laboratories
● Apple Inc.
● Dexcom Inc.
● Fitbit Inc. (Google LLC)
● Garmin Ltd.
● Honeywell International Inc.
● Koninklijke Philips NV
● Medtronic limited liability company
● Omron Corporation
● Vital Connect Inc.

Request an analyst for a sample report: https://www.imarcgroup.com/request?type=report&id=2689&flag=C

Portable Medical Devices Market Report Segmentation:

By device type:

● Diagnostic devices
● Devices for monitoring vital signs
● Sleep monitoring devices
● Electrocardiographs and obstetric devices
● Neuromonitoring devices
● Therapeutic devices
● Pain management devices
● Insulin delivery devices
● Rehabilitation devices
● Respiratory therapy devices

Diagnostic devices constitute the largest segment due to their key role in the early detection, monitoring and treatment of conditions, which is essential in a healthcare environment increasingly focused on preventive care.

By product:

● Activity monitors
● Smart watches
● Fixes
● Smart clothes
● Hearing aids
● Other

Smartwatches command the majority of market share because their popularity is driven by the integration of advanced health monitoring features with everyday wearability, making them attractive to a broad consumer base seeking health information without compromising style and comfort.

By application:

● Sports and fitness
● Remote patient monitoring
● Home health care

Home care is showing clear market dominance due to the convenience of health monitoring from the comfort of home, coupled with the growing demand for telehealth services.

By distribution channel:

● Inactive
● On the Internet

The offline store has the largest market share thanks to personal service, immediate availability of products and the ability to try and compare devices in the store.

Regional information:

● North America: (United States, Canada)
● Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, others)
● Europe: (Germany, France, UK, Italy, Spain, Russia, others)
● Latin America: (Brazil, Mexico, others)
● Middle East and Africa

North America holds a leading position in the portable medical device market, which can be attributed to its strong healthcare infrastructure, high consumer health awareness and the presence of leading technology and healthcare companies in the region.

Global trends in the portable medical devices market:

Artificial learning (AI) and machine learning (ML) are being used in wearable medical devices, increasing their ability to more accurately analyze health data, predict health outcomes, and provide personalized health information. Additionally, the rise in remote patient monitoring as healthcare systems look for effective ways to monitor patients outside of traditional settings, reduce hospital readmissions, and expand care to remote areas is driving market growth.

In addition to traditional health monitoring, wearables also include wellness tracking, including stress management, sleep quality analysis, and mental health monitoring, reflecting a holistic approach to health.

Note: If you require specific information that is not currently covered by the report, we will provide it to you as part of the customization.

Trend reports from the IMARC Group:

Fitness platforms for the disabled market: https://www.imarcgroup.com/fitness-platforms-for-disabled-market

Mobile car wash service market: https://www.imarcgroup.com/mobile-car-wash-service-market

About us:

IMARC Group is a leading market research company offering management strategy and market research worldwide. We work with clients across all sectors and regions to identify their highest-value opportunities, address their most important challenges and transform their businesses.

IMARC’s information products cover the most important market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial and high-tech organizations. Market forecasts and industry analysis in biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the forefront of the company’s expertise.

Our offer includes comprehensive market analysis in the form of research reports, production cost reports, feasibility studies and consulting services. Our team of experienced researchers and analysts from a variety of industries specializes in providing high-quality data and insights to our clients, from small and medium-sized businesses to Fortune 1000 corporations.

Elena Anderson
IMARC Services Private Limited
+1 631-791-1145
write to us here