As per the recent study titled ‘Wearable Medical Devices Market Share, Size, Trends, Industry Analysis Report, By Device Type; By Site; By Application; By Regions; Segment Forecast, 2020 -2027’, available with Market Study Report, global wearable medical devices market valuation is expected to reach USD 85.6 billion by the end of the forecast period 2020-2027.
 

According to the report findings, increased pervasiveness of lifestyle-related diseases is a major growth propeller for global wearable medical devices market. In fact, International Diabetes Federations states that, in 2015, approximately 415 million cases of diabetes were recorded, and this number is expected to climb to 640 million by 2040, indicating a strong demand for devices like glucose monitoring wearables in the coming years.
 

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Further, developing health consciousness among people, along with technological & medical innovations are adding considerable traction to global wearable medical devices industry growth.
 

For those unfamiliar, wearable medical devices are autonomous devices that facilitate medical or fitness monitoring & support over a time period. They can either be worn as a body accessory or be embedded in shoes or cloth. These devices are integrated with non-invasive sensors, real time data processing capabilities, wireless transmission, and also offers medical feedback. Moreover, recent wearable medical device also feature alert mechanism, real time analysis, and decision support systems. These wearables provide point-of-care as well as remote management for rehabilitating individuals who are chronically ill or disabled.
 

Based on device type, global wearable medical devices market is categorized into vital sign monitoring devices, electrocardiographs fetal and obstetric devices, sleep monitoring devices, inulin/glucose monitoring devices, respiratory therapy devices, therapeutic devices, and rehabilitation devices.
 

Considering site, the industry is divided into headband, shoe sensors, handheld, strap/clip/bracelet, and others. Moving on, the application of the industry comprises remote patient monitoring, home healthcare, and sports and fitness.
 

With respect to the geographical scope, global wearable medical devices market size spans across North America, Latin America, Europe, Asia Pacific, and Middle East & Africa.
 

Speaking of the competitive arena, VivaLnk, Inc., Verily Life Sciences, VitalConnect, Biobeat Technologies Ltd., Dexcom, Inc., Apple, Inc., Biotelemetry, Inc., Koninklijke Philips N.V., Medtronic plc, and Omron Corp. are the top contenders in global wearable medical devices industry sphere. These players are pouring their resources into developing low cost wearable to cater to all demographics of the population and subsequently capture a greater portion of the market share.