The global market for wearable medical devices reached US$10 billion in 2023

The latest research report predicts that the global market for wearable medical devices is expected to grow at a compound annual growth rate (CAGR) of 18% from 2015 to 2023, from $2.7 billion in 2014 to $10 billion in 2023. In the next few years, the use of wearable medical devices will still be based on home medical care.

According to reports, in terms of geographic regions, the global market for wearable medical devices can be divided into Europe, North America, Asia Pacific and others. Currently, North America ranks first, of which the United States and Canada are the most important markets in North America, mainly because of the early wear in North America. Technology, plus a number of medium and large manufacturers and continue to have new manufacturers to join.

The CDC noted that 29 million people in the United States have diabetes, which will stimulate the growth of demand for continuous blood glucose monitors, heart rate monitors and activity monitors.

According to analysts at global market intelligence firm Transparency Market Research (TMR), the global market for wearable medical devices will grow rapidly as wearable devices monitor patient health and help diagnose several diseases. In addition, as wearable devices change with each passing day, the demand for high-end portable devices by athletes and young people will increase.

TMR survey found that global wearable medical device before several major vendors are Polar Electro, Omron (OMRON), Fitbit and Medtronic (Medtronic), a total of only 47% of the market, Omron highest ranks of only 11%, showing that the market The competition is fierce and will continue to do so in the next few years.