Wearable Medical Devices Market - Increasing use of mobile technology is one of the major growth factor

The global wearable medical device market, in terms of value, is projected to reach USD 12.14 billion by 2021 from USD 5.31 billion in 2016, at a CAGR of 18.0% during the forecast period. The wearable medical services market is segmented based on type, distribution channel, end use, application, and regions. 

Increasing use of mobile technology is one of the major factors driving the growth of the wearable medical devices market. With the development of devices such as smartphones connected with various medical apps, wearable wrist band monitors, and cuffless blood pressure monitors, the monitoring of health conditions has become more efficient and effective. Moreover, these devices enable sharing of a patient’s medical records with doctors over a period of time, which helps in the proper diagnosis and treatment of diseases.

The wearable medical devices market is expected to witness significant growth in the coming years, due to the increasing adoption of these devices in various applications, such as diagnostic and monitoring, therapeutics, and health and fitness. Rising health concerns among people and the growing focus on monitoring day-to-day variations in health conditions are the major factors driving the uptake of wearable medical devices among end users. 

North America is expected to dominate the market in 2016, with the U.S. accounting for a major share. However, Asia is expected to grow at the highest CAGR during the forecast period, The high growth in this market is attributed to of developed infrastructure and the focus on technological advancement and development of interconnected and highly advanced healthcare apps and compatible devices.