Global Clinical-Grade Wearable Device Market Trends and Forecast 2028: Growth & Market Size

The Global Clinical-Grade Wearable Market is projected to grow at a CAGR of around 25% during the forecast period, i.e., 2023-28                                   

Global Clinical-Grade Wearable Device Market Dynamics:

Rising Demand for Incessant Health Monitoring for Diabetes & Related Health Issues: Over the past few years, there has been an increase in the population suffering from diabetes, thereby generating the demand for Clinical-Grade wearable devices for examining glucose levels at regular intervals of time. According to World Health Organization, over 422 million people are suffering from diabetes, globally, which leads to over 1.5 million deaths per year. Consequently, patients use glucose-monitoring wearable devices and insulin pumps to keep track of their sugar levels and deliver insulin precisely at designated times. This helps patients maintain their blood sugar levels efficiently.

Further, health concerns such as diabetes, blood pressure, etc., play a vital role in the demand for Clinical-Grade wearable devices since patients require monitoring to reduce the risk of long-term complications such as nerve damage, heart disease, etc. Therefore, these health-related issues have positively impacted the global market for Clinical-Grade wearables, owing to the flexibility and accuracy these wearable devices provide to patients suffering from illnesses.

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Market Dimensions & Projections

·        Pricing Evaluation

·        Recent Strategic Moves by Companies

·        Primary Stakeholders

·        Import/Export Trend Analysis

·        Competitive Landscape Assessment

·        Emerging Opportunities

·        Market Trends and Indicators

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Global Clinical-Grade Wearable Device Market Segmentation:

The market report categorizes the market based on different segments and geographical analysis.

Study Timeline:

-Base Year: 2022

-Historical Period: 2018 to 2021

-Forecast Period: 2023-28

• By Device Type
  • Diagnostic Device
    • Vital Sign Monitor
      • Heart rate Monitors
      • Activity Monitors
      • Pulse Oximeters
      • Blood Pressure Monitors
      • Others (Spirometers, Electrocardiographs, etc.)
    • Sleep Monitoring
      • Sleep Trackers
      • Wrist Actigraphs
      • Polysomnographs
    • Electrocardiographs Fetal & Obstetric Devices
    • Neuromonitoring Devices
      • Cerebral Oximeter
      • Electroencephalographs
      • Electromyographs
  • Therapeutic Devices
    • Pain Management
      • Quell Device
      • Neurostimulation Device
    • Insulin Monitoring Devices
      • Insulin Pumps
    • Rehabilitation Devices
      • Gyroscopes
      •  Accelerometers
      • Magnetometers
    • Respiratory Therapy Devices
      • Ventilators
      • Portable Oxygen Concentrators
      • Possible Pressure Airway Devices
• By Device Site
  • Handheld
  • Headband
  • Shoe Sensors
  • Strap/ Bracelet
• By Application
  • Home Healthcare
  • Remote Monitoring
  • Sports & Fitness
• By Region
  • North America
  • South America
  • Europe
  • Middle East & Africa
  • Asia-Pacific

Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market companies, including -   Abbott Laboratories, Siemens Healthcare GmbH, Koninklijke Philips N.V., Omron Corporation, Sotera Wireless, Everist Health, Polar Electro, Zephyr Technology Corporation, Intelesens Ltd, Fitbit Inc., LifeWatch AG., Garmin, Contec Medical Systems Co. Ltd., Vital Connect, Dexcom, Inc., Medtronic Plc, Polar Electro, Ge Healthcare, and Others (Preventice Solutions, Inc., Covidien, etc.)

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