Europe Wearable Medical Devices Market to Register Formidable Growth through 2025
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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