How Big Is the Clinical-Grade Wearable Device Market?
The anticipated value of the Clinical-Grade Wearable Device Market Size is anticipated to grow at a CAGR of around 25% during the forecast period, i.e., 2023-28. Reputable research company Markntel Advisors has conducted a thorough analysis of the Clinical-Grade Wearable Device market, taking into account a variety of factors including current developments, trade laws, import-export analysis, production trends, changes in market laws, value chain optimisation, and market share insights. The study is precisely organised, with well defined sections, chapters, and sub-categories that make it easy for readers to navigate.
The Clinical-Grade Wearable Device Market Report also emphasises the importance of domestic and regional market players, developing revenue streams, strategic analysis of market growth, product approvals, the introduction of novel offerings, geographic expansions, and technological advancements. This report's main goal is to give readers a thorough understanding of the market while highlighting the unique characteristics, contributing factors, and other components that can potentially limit market growth.
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Clinical-Grade Wearable Device Market Key Drivers:
Key Driver: Rising Demand for Incessant Health Monitoring for Diabetes Related Health Issues
Over the past few years, there has been an increase in the population suffering from diabetes, thereby generating the demand for Clinical-Grade wearable devices for examining glucose levels at regular intervals of time. According to World Health Organization, over 422 million people are suffering from diabetes, globally, which leads to over 1.5 million deaths per year. Consequently, patients use glucose-monitoring wearable devices and insulin pumps to keep track of their sugar levels and deliver insulin precisely at designated times. This helps patients maintain their blood sugar levels efficiently
Further, health concerns such as diabetes, blood pressure, etc., play a vital role in the demand for Clinical-Grade wearable devices since patients require monitoring to reduce the risk of long-term complications such as nerve damage, heart disease, etc. Therefore, these health-related issues have positively impacted the global market for Clinical-Grade wearables, owing to the flexibility and accuracy these wearable devices provide to patients suffering from illnesses.
Geographical and Competitive Analysis of the Clinical-Grade Wearable Device Industry
The market segments that make up the Clinical-Grade Wearable Device market are very diverse. These segments, which cover variations, trends, and market strategies, are precisely defined and clearly discussed. This all-inclusive strategy provides stakeholders with the crucial knowledge needed to take well-informed decisions and fully comprehend the market. The following segments make up -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
-By Device Site
-Handheld
-Headband
-Shoe Sensors
-Strap/ Bracelet
-By Application
-Home Healthcare
-Remote Monitoring
-Sports Fitness
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-By Region
-North America
-South America
-Europe
-Middle East Africa
-Asia-Pacific
Key Players Operating in the 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.)
The Clinical-Grade Wearable Device Market Research Report Provides Insights into These Inquiries:
- What is the current size of the Clinical-Grade Wearable Device Market?
- What is the anticipated Compound Annual Growth Rate (CAGR) of the Clinical-Grade Wearable Device Market for the period 2023-2028?
- What are the significant trends and growth prospects that key players in the Clinical-Grade Wearable Device Market should be aware of?
- Who are the prominent participants in the Clinical-Grade Wearable Device Market?
- Which specific market segment holds promise for companies engaged in the Clinical-Grade Wearable Device Market?
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