The Global Wearable Medical Devices Market was worth more than $2.8 billion in revenue in 2014 and is expected to cross $8.3 billion in 2019, growing at a healthy CAGR of 17.7% from 2014 to 2019.

The report segments the market as Global Diagnostic Wearable Device Market and Global Therapeutic Wearable Device Market. Both the above segments are further based on applications and geography. The product type segment has been further categorized into various types of diagnostic and surgical devices along with vision care products.

The growth of global wearable medical device is driven by several factors, the most important of which is the technological innovations. Technological innovations and advancements have led to the introduction of new products. The other factors promoting the growth of the market are increasing incidences of chronic diseases, and diabetes patients, ease of use and interpretation of outcomes.

A wearable medical device is defined as a device with sensors attached to the body that detect and monitor changes in body signatures of various areas and organs. It can capture more accurate and real time data related to the vital signs and parameters of the body. These devices can measure glucose, ECG, blood pressure, blood oxygen saturation and various other vital parameters.
The wearable medical device technology is expected to show an increased growth globally due to release of products such as Google glass and the iWatch as well as other medical technologies. Globally, people are becoming aware about their fitness and for that there is a need to keep a tab on their work out details. The wearable devices monitor the key details during work out and display it on the monitor. It also stores the details for future reference. This has helped in augmenting the growth of the market to a great extent.

North America is the largest market followed by Europe. An analysis shows that 42 million American adults report that pain or discomfort is the reason of their disturbed sleep. Also 50-75% of patients die due to moderate of severe pain. There is a rise in awareness among people in this region regarding fatal diseases, which has made them health conscious. Hence people these days are more concerned about keeping a check on the vital body parameters. The reasons stated above are propelling the growth of the market in the North American region.

The European market is growing at healthy CAGR and the main driving factors for the market are increasing incidences of chronic diseases and rising awareness for wearable devices. Asia Pacific region is the fastest growing due to increase in funding by the private players and government bodies for the research and development of newer technologies. The other reason for the fast growing Asia-Pacific market is the rise in the per capita income which has in turn increased the affordability of these devices.

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