The Global market for habiliment medical devices is one of the fastest growing markets with a CAGR of 17.7% between 2014 and 2019 and is estimated to reach $8.3 billion by 2019. Wearable medical devices are non-invasive sensors that record vital signs such as heartbeat, pulse, skin temperature and blood pressure.
These devices have lately gained popularity not only in the healthcare set-ups but also in the Sports and fitness domain. The habiliment electrocardiograms and heart monitors ensure early diagnosing and treatment of any cardiopathy and have revolutionized patient care and made it possible to monitor the patient's medical condition from home. In the recent years, people have become more conscious about their health and well being which has inflated the usage of fitness monitoring devices and thence escalating the habiliment device market.These being personal care devices have a large market.
The habiliment medical device is divided supported segment into diagnostic devices (habiliment vital sign monitors, habiliment craniate monitors and medicine devices and habiliment neuromonitoring devices), therapeutic devices (habiliment pain direction devices, insulin and glucose monitoring devices and metabolism therapy devices, by application (Sports and fitness, remote patient sensing and home healthcare) and by geographics (North America, Europe, Asia-Pacific and Rest of the world).
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The advancement not only in medical device technology but also mobile communication, wireless and IT has brought out innovative devices making the technology popular. The increasing awareness and affordability have also contributed to the booming habiliment medical device market. In recent years, there is an inflated incidence of diseases like diabetes and internal organ disfunction which require continuous monitoring of the patient condition making these devices a requirement in the day-to-day life. There is also increasing awareness of technology, healthcare and general well-being that will keep these devices in demand. The only constraints are the unfitness to handle the constant stream of data and storage of the large amount of data generated. Since the technology is fast advancing, the devices get replaced from the market quickly.
North America with USA holds the largest share of the market closely followed by Europe. This is because of the high per capita income makes these devices low-cost in these countries. But Asian countries such as China, India and Japan have the fastest growing markets because of the fast emerging technology, the growing universe and increasing accessibility of healthcare facilities. Some of the key players in the market are Draeger (Germany), Everist Health (USA), Intelesens Ltd (UK), LifeWatch AG (USA), Nuubo (Spain) and Polar Electro (Finland). The key players in the sports and fitness associated habiliment device market are Google (USA), Apple (USA) and Fitbit (USA).
