According to the research report titled ‘Wearable Medical Devices Market Share, Size, Trends, Industry Analysis Report, By Device Type; By Site; By Application; By Regions; Segment Forecast, 2020 -2027‘, available with Market Study Report, global wearable medical devices market is anticipated to reach a valuation of USD 85.6 billion by 2027.
 

Rising incidences of lifestyle related diseases, increasing awareness regarding importance of fitness, and inclination of consumer electronic companies towards developing wearable devices and rising adoption of advanced technologies in healthcare vertical are the major factors expected to drive the growth of global wearable medical devices market during the forecast period.
 

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Wearable medical devices are used by the individuals in order to give medical or fitness support and monitoring over a period. They are worn as a body accessory or are embedded in clothes or shoes. They consist of various components like wireless transmission, non-invasive sensors, real time data processing capabilities, and help in providing medical feedback.
 

According to the International Diabetes Federation (IDF), about 415 million individuals were suffering from diabetes in the year 2015 which is likely to increase to 640 million by 2040. Such high prevalence of diabetes is also likely to fuel the global wearable medical devices market growth.
 

Several benefits of wearable devices such as point of care solutions and offering remote management of disabled, chronically ill and rehabilitating patients along with technological developments are likely to contribute towards the global wearable medical devices market outlook over the forecast period.
 

These technological advancements in wearable medical devices include alert mechanisms, real time analysis and decision support systems, which in turn is also fueling the product demand across the globe. However, rising concerns regarding data security is likely to restrain the global wearable medical devices industry growth over forecast period.
 

As per device type, global wearable medical devices market is segmented into sleep monitoring devices, diagnostic devices, therapeutic devices, glucose monitoring devices, neuro-monitoring devices, respiratory therapy devices. With regards to the application spectrum, the industry is bifurcated into home healthcare, sports and fitness and remote patient monitoring. Based on medical devices, the industry is segmented into shoe sensors, headband, strap/clip/bracelet, handheld and others.
 

Key players operating in global wearable medical devices market are Iwasaki Electric Co. Ltd., Gavita International B.V., California Lightworks, Osram Gmbh, Illumitex Inc., General Electric Company, Zuzi Technology Pvt Ltd., Heliospectra AB, and Hortilux Schreder among others.