Global Wearable Medical Devices Market – Industry Trends and Forecast to 2027

Wearable medical devices market is expected to gain market growth in the forecast period of 2020 to 2027. Data Bridge Market Research analyses that the market is growing with a CAGR of 19.6% in the forecast period of 2020 to 2027 and is expected to reach USD 79,945.89 million by 2027 from USD 19,347.69 million in 2019. Rising awareness towards early disease diagnosis and technological advancement in wearable medical devices are the major drivers which propelled the demand of the market in the forecast period.

Wearable medical devices are all those devices that help in disease diagnosis and monitoring to protect people from damage of long-term chronic disease. These devices play an important role in remote monitoring of patients in health centers or at home by tracking the vital signs such as heart rate, pulse rate, ECG and sleep cycle among others. Regulatory bodies regulate the wearable medical devices to demarcate them from normal consumer electronics. Wearable medical devices demand has increased as compared to the precise year with increased demand of minimally invasive and contactless diagnostic and therapeutic uses of wearable medical devices along with introduction of increased technologically advanced wearable medical devices. In addition demand of wearable medical devices has increased because of increasing health consciousness among people across world. Further high cost of wearable medical devices is expected to restraint the usage of wearable medical devices and is expected to slow down the growth of the wearable medical devices market in the forecasted period.

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