The global wearable medical devices market is being propelled at a CAGR of 16.40% within the forecast period from 2013 to 2019. The market was recorded at US$5.8 bn in 2012 and is expected to reach US$5.80 bn by the end of 2019.
Albany, NY -- (SBWIRE) -- 12/07/2015 -- The global wearable medical devices market research report offers a detailed view of the market through various analyses based on prior market readings, measurements of current market feeds, and forecasts for the period between 2013 and 2019. Key revenue and market value figures of the global wearable medical devices market are provided in US$.
Analysis in the report links the macro as well as micro changes that have occurred in the global wearable medical devices market so far, along with an elaboration on the current market trends and influences. The report prepares a clear picture of the global wearable medical devices market's competitive landscape for a user to be completely acquainted with the global wearable medical devices market in order to perform feasible strategic maneuvers.
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The research methods used to evaluate the global wearable medical devices market are primary and secondary. Primary research methodologies occupy the bulk of the overall research efforts, still keeping all secondary avenues as descriptive and conclusive as possible. The report incorporates varied product literature and content obtained from top companies. It also contains data derived from public reports of the companies' annual financial releases, press releases, and other important avenues of information that broaden the understanding of the global wearable medical devices market. Secondary research includes data derived from external sources with a vested interest in the wearable medical devices market, such as statistical sources from government agencies and the latest activities and trade data in the global wearable medical devices market.
The report also presents forecasts for the global wearable medical devices market using industrially recognized methods, including Porter's five force analysis and industry SWOT analysis. Key regions discussed in the global wearable medical devices market report are North America, Europe, Asia Pacific, and the Rest of the World.
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Overview of the Global Wearable Medical Devices Market
The primary growth driver of the global wearable medical devices market is the rising individual disposable incomes across the world and the increasing adoption of new technology for fitness purposes. North America led the global wearable medical devices market in 2012 with a 44% share, while Asia Pacific shows promise with the fastest CAGR of over 18% from 2013 to 2019. The high expected growth rate is attributed specifically to the rapidly developing economies of China and India.
North America possesses the largest number of research facilities, coupled with the highest number of developers in the global wearable medical devices market. This coincides with the high demand displayed by the region, attributed to an increasing drive for fitness as well as the increasing number of people afflicted by chronic illnesses.
The global wearable medical devices market could grow even faster if the R&D potential of Asia Pacific were to be harnessed. With a growing number of investors willing to buy into the global wearable medical devices market, more companies could establish labs and development centers in the region.
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Companies mentioned in the research report
The key players in the global wearable medical devices market are Polar Electro, Intelesens Ltd., Philips Electronics, Nuubo, LifeWatch AG, Coventis, Inc., Everist Genomics, Inc., Basis Science, Inc., Withings, Omron Corporation, Zephyr Technology Corporation, and Fitbit, Inc.
The recent activity in the global wearable medical devices market shows a promising growth curve, with companies such as Fitbit Inc. moving up, while investors sell off their shares following steady guidance. The global wearable medical devices market is expected to be reinvigorated by the incoming wave of smartwatches that will contain apps and connectivity options similar to what the global wearable medical devices market has to offer.
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