Global wearable medical devices market would account for USD 23,980 million in 2016
The global wearable medical devices market is anticipated to grow by 4.8% year on year over 2015-2016 to reach USD 23,980.5 million. The growth would be driven by rising widespread presence of diseases that require continuous monitoring and availability of compact, smartphone-enabled devices. Total shipments of wearable therapeutic medical devices are expected to reach 38,637,108 units in 2016, depicting a market value of USD 14,543.6 million. Sleep apnea devices would continue to be the highest-selling wearable therapeutic medical device, with total shipments of 34,008,685 units in 2016. Clinics are estimated to continue with their leadership as a distribution channel for wearable medical devices in 2016 and would sell USD 7,717.0 million worth of wearable medical devices in 2016, up from USD 7,348.4 million in 2015. North America would continue to dominate the global wearable medical devices market in 2016, followed by Europe and Asia Pacific. The North American wearable medical devices market may reach USD 9,608.7 million from USD 9,143.2 over 2015-2016. The key players of the global market include Medtronic, Siemens, Bayer, Philips, Panasonic, Fitbit, Animas, Smiths Medical, Omron, Roche and Rest Devices.
(Image courtesy: Dreamstime)