“With rising chronic diseases, growing health awareness among people, robust R&D, and increasing tech-savvy generation, wearable medical device market will show impressive growth”, says RNCOS.
Noida, UP -- (SBWIRE) -- 06/01/2015 -- According to a new research report by RNCOS entitled, "Global Wearable Medical Device Market Outlook 2020", Wearable medical devices represent an exciting opportunity in the healthcare domain. The wearables are easy to interpret and provide assistance to people for improving their overall health.
According to our estimation, the global wearable medical device industry is anticipated to grow at a healthy CAGR of about 21% during the forecasted period 2014-2020. The global market was valued at US$ 1.5 Billion in 2014 and is expected to be worth US$ 4.6 Billion by 2020. The market growth is fueled by increasing patient preferences towards advanced medical therapies, implementation of telemedicine in remote locations, increasing usage of smartphones, and growing health independence in ageing population.
Other factors driving the market growth are rising incidences of chronic diseases and diabetes patients, and ease of use of wearable medical devices. The wearable medical technology market is still in the early stage of evolution, but has the potential to witness significant growth and adoption in the coming years. Currently, the devices are available for various end user market segments, including health monitoring, fitness, and remote patient care among others.
Research Analysis & Highlights
The report is spread in over 45 pages and provides an in-depth research and rational analysis of the current status and future prospect of the Global Wearable Medical Device Industry. The report provides a clear picture of the technology, factors driving the industry growth, and challenges faced by the industry. In addition to this, the study includes merger & acquisition deals that have occurred during past two years. The report further highlights market segmentation of the industry by types of products, applications and geography. With special emphasis on the competitive landscape and dominant players in the market, the research provides valuable information to the investors who are looking to enter into this market.
Some of the report's key highlights include:
- Growth Drivers such as Increase in Healthcare Expenditure, rising prevalence of chronic diseases and Ease of use of wearable medical devices
- Market Segmentation by Types of Products, Applications & Geography
- Mergers & Acquisitions
- Trends & Developments
- Leading Players in Global Wearable Medical Device market
For FREE SAMPLE of this report visit: http://www.rncos.com/Report/IM754.htm
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RNCOS is a leading industry research and consultancy firm incorporated in 2002. As a pioneer in syndicate market research, our vision is to be a global leader in the industry research space by providing research reports and actionable insights to companies across a range of industries such as Healthcare, IT and Telecom and Retail etc. We offer comprehensive industry research studies, bespoke research and consultancy services to Fortune 1000, Trade associations, and Government agencies worldwide.