Wearable Medical Devices Market Europe is expected to reach USD XX Billion by 2026 from USD XX Billion in 2018 at a CAGR of 18.6% (Detailed analysis of the market CAGR is provided in the report).
Wireless gadgets are integrated within our daily lives nowadays. In this advanced new era of progressive technological advancement, the medical wearable devices are mostly developed considering two market segments among others namely medical or healthcare and sports or fitness.
The report study has analyzed revenue impact of covid-19 pandemic on the sales revenue of market leaders, market followers and disrupters in the report and same is reflected in our analysis.
Activity monitors segment is expected to hold one of the largest shares for wearable medical devices market in Europe. Wearable medical devices reaffirm the concept and possibility of continuous patient monitoring, providing healthcare in a home as well as real-time health tracker. It defines fitness optimization for user and health professionals as well through collected data which is further transferred from wearables to devices that are connected such as smartphones. With growing incidences of these situations, there has been an emergence of data hub through activity monitors which forms direct links between patients to hospitals, pharmacies, physicians, caregivers along with life sciences organizations. On the basis of the distribution channel for wearable medical devices market in Europe, pharmacies segment has formed one of the largest markets. It is to be noted that Europe has been extremely strict when it comes to drug usage and healthcare infrastructure. Pharmacies allow easier access to these smart medical wearable devices where people who are unaccustomed with online transactions can also come and buy one. The online sector as a distribution channel has seen immense growth in the last few years with heavier internet penetration giving rise to easier information and product access. Online access to different products allows better visibility across a large range of products from different competitors. It gives patients the right to decide on their own choice of product as compared to pharmacies where options are relatively limited. Applications that are covered under the scope of this report include sports and fitness, remote patient monitoring and home healthcare. Sports and fitness can be deemed as one of the major applications for medical wearable devices. Athletic improvisations are constant across advanced medical wearable devices. Home healthcare has seen one of the fastest growths in the last five years especially with more people getting aware of their fitness and ways to monitor diseases. Chronic and terminal diseases have different ways of diagnosis for doctors which have led to the development of evolved patient monitoring systems. Better access to remote monitoring of patients through real-time data has made application of medical wearable devices across Europe even higher.
Geographically, UK, Russia, and France among others have been some of the major markets for medical wearable devices in Europe. Higher investments in medical infrastructure, easier access to devices along with growing application by doctors and hospitals for patient monitoring has further formed some of the key reasons that boosted overall growth of wearable medical devices market in Europe.
• Europe Wearable Medical Devices market size analysis and forecast
• Comprehensive study and analysis of market drivers, restraints, and opportunities influencing the growth of the Europe Wearable Medical Devices market
• Wearable Medical Devices market segmentation on the basis of type, device type, distribution channel, application and geography (regional)
• Wearable Medical Devices market strategic analysis with respect to individual growth trends, future prospects along with a contribution of various sub-market stakeholders have been considered under the scope of a study
• Wearable Medical Devices market analysis and forecast for major countries in Europe
• Profiling of key industry players, their strategic perspective, market positioning and analysis of core competencies
• Competitive landscape of the key players operating in the Wearable Medical Devices market including competitive developments, investments, and strategic expansion
Years that have been considered for the study are as follows:
• Base Year – 2018
• Estimated Year – 2019
• Forecast Period – 2019 to 2026
For company profiles, 2018 has been considered as the base year. In cases, wherein information was unavailable for the base year, the years prior to it have been considered.
The market is estimated by triangulation of data points obtained from various sources and feeding them into a simulation model created individually for each market. The data points are obtained from paid and unpaid sources along with paid primary interviews with key opinion leaders (KOLs) in the market. KOLs from both, demand and supply side were considered while conducting interviews to get an unbiased idea of the market. This exercise was done at a country level to get a fair idea of the market in countries considered for this study. Later this country-specific data was accumulated to come up with regional numbers and then arrive at the market value for Europe Wearable Medical Devices Market.
Some of the key players of the Europe Wearable Medical Devices market include:
• Abbott laboratories
• Fitbit Inc.
• Google Inc.
• B. Braun Melsungen AG
• Roche Diagnostics
• Siemens Medical Solutions
• Novartis Pharma
Key Target Audience:
• Healthcare institutions
• Wearable medical device manufacturers
• Distributors and suppliers of wearable medical devices
• Public and private physicians
• Research & clinical laboratories
• Health insurance payers
• Market research and consulting firms
Scope of the Wearable Medical Devices Market Report:
The research report segments the Wearable Medical Devices market based on type, device type, distribution channel, application, and geography.
Wearable Medical Devices Market, By Type:
• Activity Monitor
• Smart Clothing
Wearable Medical Devices Market, By Distribution Channel:
• Online Channel
Wearable Medical Devices Market, By Device Type:
• Diagnostic & Monitoring Devices
• Vital Sign
• Fetal Monitoring & Obstetric
• Therapeutic Devices
• Pain Management
• Respiratory Therapy
Wearable Medical Devices Market, By Application:
• Sports & Fitness
• Remote Patient Monitoring
• Home Healthcare
Wearable Medical Devices Market, By Geography:
• Breakdown of UK Wearable Medical Devices market
• Breakdown of Germany Wearable Medical Devices market
• Breakdown of France Wearable Medical Devices market
• Breakdown of Spain Wearable Medical Devices market
• Breakdown of Italy Wearable Medical Devices market
• Breakdown of Russia Wearable Medical Devices market
• Breakdown of Others Wearable Medical Devices market
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