Growing health awareness among consumers to drive the growth of Europe wearable medical devices market
According to TechSci Research report, “Europe Wearable Medical Devices Market By Type (Vital Signs Monitoring Devices v/s Therapeutic Devices), By Product Type (Activity Monitors/Trackers, Smartwatches, Patches, Smart Clothing), By Purpose (Heart rate, Blood Pressure, Body Temperature, Blood oxygen saturation, Posture, Physical Activities, Hearing Aids, Others), By Site (Handheld, Headband, Strap/Clip/Bracelet, Shoe Sensors, Others), By Application (General Health & Fitness, Remote Patient Monitoring, Home Healthcare), By Distribution Channel (Store-Based v/s Non-Store-Based), By Business Segment (B2B Vs B2C), By Country, Forecast & Opportunities, 2025”, the Europe wearable medical devices market is expected to grow at a formidable rate during the forecast period on account of the growing geriatric population suffering from various chronic diseases such as cardiovascular diseases, renal disorders, cancer, respiratory ailments, diabetes and others, which has drastically increased the patient pool, which requires personalized care and regular monitoring of health. This in turn has increased the demand for wearable medical devices, thereby propelling the market growth in the region. Also, wearable medical devices help in monitoring the health of those patients who wish to live independently or are away from their families. Additionally, increasing awareness pertaining to physical fitness and workouts among the population is expected to increase the adoption of healthcare apps for tracking the step count, distance walked, heart beats, and other critical healthcare data. However, data security concerns might hamper the market growth through 2025. Besides, unfavorable reimbursement policies might also restrict the market growth over the next few years. Moreover, lack of business opportunities for emerging players is further expected to impede the market growth during the forecast period.
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The Europe wearable medical devices market is segmented based on type, product type, purpose, site, application, distribution channel, business segment, company and region. Based on type, the market can be split into vital signs monitoring devices and therapeutic devices. Additionally, the vital signs monitoring devices segment is expected to dominate the market owing to the increasing prevalence of chronic and lifestyle associated diseases. However, the therapeutic devices segment is expected to grow significantly on account of the growing influx of these devices. Based on product type, the market can be fragmented into activity monitors/trackers, smartwatches, patches and smart clothing. Among these, the activity monitors/trackers type is expected to hold the largest market share on account of the growing prevalence of chronic and lifestyle diseases. Based on application, the market can be categorized into general health & fitness, remote patient monitoring and home healthcare. Here, the general health & fitness segment is expected to dominate the market on account of the growing awareness pertaining to physical fitness among the population. On the other hand, the remote patient monitoring segment is expected to hold a large market share on account of growing geriatric population requiring care and treatment.
Abbott Laboratories Ltd., Activinsights Ltd, Fitbit, Inc., Apple, Inc., Garmin (Europe) Ltd., Medtronic plc., Omron Europe, GE Healthcare, Intelesens Ltd, LifeWatch AG, NUUBO Smart Solutions Technologies, SL, Polar Electro Oy, Honeywell International, Fitbit Inc., Sony Corporation and others are some of the leading players operating in Europe wearable medical devices market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.
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“Europe wearable medical devices market is expected to witness significant growth during the forecast period owing to the increasing mortality rate due to diseases such as lung cancer, colorectal cancer, cardiovascular diseases, respiratory ailments and many others. Additionally, favourable policies set up by the European commission and government for promoting digital health are expected to create lucrative opportunities for the market growth in the region. Moreover, Germany is the largest market for the wearable medical devices in the European countries on account of presence of major market players and biopharmaceutical companies in the country,” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.
“Europe Wearable Medical Devices Market By Type (Vital Signs Monitoring Devices v/s Therapeutic Devices), By Product Type (Activity Monitors/Trackers, Smartwatches, Patches, Smart Clothing), By Purpose (Heart rate, Blood Pressure, Body Temperature, Blood oxygen saturation, Posture, Physical Activities, Hearing Aids, Others), By Site (Handheld, Headband, Strap/Clip/Bracelet, Shoe Sensors, Others), By Application (General Health & Fitness, Remote Patient Monitoring, Home Healthcare), By Distribution Channel (Store-Based v/s Non-Store-Based), By Business Segment (B2B Vs B2C), By Country, Forecast & Opportunities, 2025”, has evaluated the future growth potential of Europe wearable medical devices market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges and opportunities in Europe wearable medical devices market.
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