The growing adoption of smartphones, growing geriatric population, increasing penetration of 3G/4G networks and rising focus on cost containment in healthcare delivery are driving the greater uptake of mobile technologies.
According to the new market research report Medical Wearables Market is projected to reach USD 19.5 billion by 2025, at a CAGR of 21.4 % during the forecast period.
The large share of this segment can be there have been significant technological advancements in medical wearable devices, which have helped improve the treatment outcomes for patients. Based on product type, the patches segment accounted for the largest share of the Clinical Wearable Market in 2019. Growing use of high-tech devices that are compact, user-friendly, and come with a better graphical user interface for easy visibility of resulted data are helping to increase the market penetration of clinical-grade wearables. These wearables are playing an integral role in treating and monitoring various medical conditions in patients and driving better health outcomes.
The prominent players in this market are Medtronic plc. (Ireland), OMRON Corporation (Japan), Biotelemetry Inc.(US), Apple, Inc. (US ), Koninklijke Philips N.V. (Netherlands), Dexcom Inc. (US), Abbott Laboratories(US), GE Healthcare (US), Bio-Beat Technologies (Israel), Masimo Corporation(US), iRhythm Technologies, Inc.(US), VitalConnect (US), Minttihealth (US), Preventice Solutions, Inc. (US), Contec Medical Systems Co.Ltd(China), Biotricity Inc.(US), Verily Life Sciences. (US), Cyrcardia Asia Limited (Hong Kong ), ten3T healthcare (India), VivaLnk, Inc.(US).
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