Published Date : Nov 28, 2016
ALBANY, NY, Nov 28, 2016: The report is titled, “Global Smart Wearable Healthcare Devices and Services Market 2016–2020.” The research report is an overview of the historical, present, and upcoming growth trajectory of the global smart wearable healthcare devices and services market.
An assessment of the trends that are prevalent at present and the dynamics that are likely to impact the market positively or negatively has been offered in the report. The estimated revenue and volume growth has been also presented in the study. A brief outlook of the competitive landscape of the global smart wearable healthcare devices and services market, along with information on the shares, products, and marketing strategies, is also provided in the report.
According to the report, the global smart wearable healthcare devices and services market is anticipated to expand at an outstanding 19.0% CAGR from 2016 to 2020. The devices that can be worn on the human body to keep a check on the calorie intake, sleep statistics, heart rate, fitness, and provide health insights are commonly referred to as smart wearable healthcare devices. The mechanism of these devices and the technology used is similar to that of tablets and smartphones. Hence, these smart wearable healthcare devices can be effectively synchronized with tablets or smartphones to enhance user accessibility.
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Smart wearable healthcare devices and services are likely to gain prominence over time owing to the need for easy and automatic health status monitoring. There has been a considerable rise in the adoption of smart wearable healthcare devices owing to the fact that they help users avoid various health related issues such as heart congestion and obesity. The rising adoption of smart wearable healthcare devices will also lead to a substantial rise in the deployment of big data analytics software. This software has already come into use in the healthcare sector owing to benefits such as enhanced decision making and quick access to the patient database. The declining cost of wearable devices is expected to bode well for the growth of the market.
Geographically, the global wearable healthcare devices and services market is classified into Europe, North America, and Asia Pacific, and the Rest of the World. The report states that North America dominated the market in 2015, accounting for a massive share of 72.0% that year. This growth can be credited to the early adoption and availability of cheap wearable health monitoring devices in the U.S. The growing geriatric population suffering from chronic and mental disorders is also one of the primary reasons behind the growth of the market in the region.
The leading players in the market are Samsung, Google, Fitbit, and Apple. Other vendors include Sensecore, Amiigo, 9 Solutions, 3L Labs, Owlet, Netatmo, Myontec, Moticon, KMS, IMEC, and Geopalz.
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