The key growth strategies adopted by the top companies
(profiled in the report) include partnerships, collaborations, and agreements;
new product launches and approvals; expansion, and acquisition.
Prominent players in the wearable
medical device market include Fitbit Inc. (U.S.), Philips Healthcare
(Netherlands), Garmin Ltd. (Switzerland), LifeWatch AG. (Switzerland), Omron
Corporation (Japan), Drägerwerk AG & Co. KGaA (U.S.), Withings SA.(France),
Jawbone Inc. (U.S.) and Polar Electro Oy (Finland).
Companies are focused on various organic and inorganic
growth strategies such as collaborations, and agreements; new product launches
and approvals; expansion, and acquisition. These strategies helped the market
players to build a robust position in the market, which helped in increasing
demand of customers, and to expand their presence in the global market.
This research study involves the use of extensive
secondary sources; directories; databases such as Hoovers, Bloomberg Business,
Factiva, and Avention; white papers; annual reports; company house documents;
and SEC filings of companies.
For estimating the size of the wearable medical device
market, the segmental market revenues were obtained from secondary sources
through extensive primary interviews. The segment-level markets were then added
up to reach the total market size of each segment (type, distribution channel, End
use, and applications). The wearable medical device market size was derived by
adding the markets of all these segments. The total market derived through the
bottom-up approach was again validated through secondary sources and
interviews.
The overall market size derived by the bottom-up approach
was used in the top-down procedure to estimate the size of the wearable medical
device market through the percentage splits obtained from secondary and primary
research for each product segment
The overall
growth strategies mapped from 2013 to 2016 includes acquisition, agreements,
collaboration, contracts, expansion, new products launches, and partnerships. New
product launches and approvals accounted for largest share of the strategies
adopted by the key players in the wearable medical device market. Companies
adopted these strategies to offer it’s in order to strengthen their customer base,
and to build up a robust position in market shares. Major players adopted this
growth strategy include Fitbit Inc. (U.S.), Philips Healthcare (Netherlands),
LifeWatch AG (Switzerland), Garmin Limited (Switzerland), and Omron Healthcare
(Japan).
Some of the
recent developments by major players are;
In September
2016, Fitbit announced the global availability of the Fitbit Charge 2 wristband
for continuous wrist-based heart rate tracking. This has helped the company to
increase its product offerings. Furthermore in August 2016, Philips Launched a
line of wearable medical devices, including the Philips health watch, connected
scales, a blood pressure monitor, and connected ear thermometer. This helped
the company in expanding its product offerings. In May 2016, Garmin
International Inc. launched the vívosmart HR+, an activity tracker. This
enables the patient to monitor their heartrate 24/7 and keep a track of the
steps taken, distance covered, calories burned, and floors climbed. This helped
the company to increase its portfolio.
https://www.marketsandmarkets.com/ResearchInsight/wearable-medical-device-market.asp
No comments:
Post a Comment