United Kingdom Wearable Medical Devices Market to be dominated by Pharmacies till 2027
Technological developments
in the field of healthcare sector and huge investments in R&D by the
corporates is projected to drive the growth for wearable medical devices market
in the forecast period, 2023-2027.
According to TechSci Research report, “United Kingdom Wearable Medical Devices
Market - By Region, Competition Forecast & Opportunities, 2027”, the United Kingdom wearable medical devices market is
expected to witness growth at a significant rate in 2023-2027. Wearable medical
devices represent a numerous instrument that are non-invasively attached to the
body for monitoring health of a patient. It includes various diagnostic
devices, such as vital signs, glucose, sleep, fetal, obstetric and
neuromonitoring devices, and therapeutic devices for pain management,
rehabilitation, and respiratory therapy. These devices comprise of biosensors,
controllers, power source and software systems for data acquisition,
interpretation, transfer, and storage. They can be worn as an accessory,
incorporated in clothing, or used as an implant. They are widely utilized
regularly for accurate measurement of the vital stats of the patients and
predicting epileptic seizures and heart problems, which can further assist in
improving comfort and offering timely clinical interventions to the patient.
Several features, advancement in
technology and wide range of applications of wearable medical devices in remote
healthcare settings and home settings is escalating the product demand across
United Kingdom. Rise in such kind of ailments along with the adoption of
monitoring devices is supporting the market growth. Along with this, the
progression in technology, connectivity of the users and mobility facilities
have augmented the sales of the product across United Kingdom. Technological
developments offer innovative solutions to the medica land healthcare sector
for the disease management among the patients. Furthermore, potential of
wearable technologies in enhancing the quality of patient care while reducing
the cost of care will foster the overall market growth.
However, the expanding inaccuracy of wearable devices, coupled with
the high Costs of healthcare devices is expected to limit the growth of the
wearable medical devices market in the upcoming years.
Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on "UNITED KINGDOM WEARABLE MEDICAL DEVICES MARKET"
The United Kingdom wearable medical
devices market is segmented into type, products, purpose, site, application,
distribution channel. Based on type, the market is divided into diagnostics and
therapeutics. Diagnostics segment is expected to dominate the market in the
coming years, 2023-2027. Rising healthcare awareness among people and inflating
need for continuous monitoring to detect diseases at early stages, and technological
advancements in diagnostic and monitoring devices are propelling the segmental
growth.
Based
on products, the market is segmented into activity monitors/trackers,
smartwatches, patches, smart clothing.
Based
on purpose, the market is segmented into heart rate, physical activities, blood
oxygen saturation, body temperature, others. Based on site, the market is
segmented into strap/clip/bracelet, handheld, headband, shoe sensors, others.
Based
on application, the market is segmented into general health & fitness,
remote patient monitoring, home healthcare. Home healthcare segment is expected
to hold the significant share in the market. Wearable devices are poised to
foresee the growing adoption in home care settings specifically among aging
population suffering from chronic diseases.
Based
on distribution channel, the market is divided into pharmacies, e-commerce,
others. channel, end user regional distribution, and competitive landscape. Pharmacies
segment is expected to hold the largest share in the market in the forecast
year, 2023-2027. Increase in the number of pharmacies across the globe,
elevating prevalence of chronic diseases, and several benefits of pharmacies such
as convenience are promoting the growth of this segment.
Various key market players operating in
the United Kingdom wearable medical devices market is:
- Philips Medical Systems UK Limited
- Medtronic United Kingdom
- GE Healthcare UK Limited
- Abbott Laboratories Limited
- Boston Scientific Limited
- Fitbit United Kingdom
- Dexcom United Kingdom
- Omron Healthcare (UK) Limited
- MediBioSense Ltd.
- iRhythm Technologies Ltd.
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“The expanding healthcare infrastructure, coupled with the
growing prevalence of numerous chronic medical disorders the market growth. In
addition to this, the escalating demand for wearable devices in healthcare
facilities due to the sudden outbreak of COVID-19 pandemic across the globe is
propelling the market growth of wearable medical devices. These devices have
wide range of applications in monitoring, offering feedback, disease management
and suggesting adequate treatment, which, in turn, is supporting individuals to
keep a regular check of their health concerns and address them in a timely
manner. Continuous technological advancements, including the development of the
internet of things (IoT)-integrated smartwatches, patches, and smart clothing,
are some of the growth-inducing factors. These advanced technologies ensure
accurate storing and monitoring of patient information, both on-premises and
remotely. The expanding geriatric population, coupled with growing expenditure
capacities of consumers on health management technologies, are projected to
augment the market growth till
2027” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm”.
“United Kingdom Wearable
Medical Devices Market By Type (Diagnostics v/s Therapeutic), By Products (Activity
Monitors/Trackers, Smartwatches, Patches, Smart Clothing), By Purpose (Heart
Rate, Physical Activities, Blood Oxygen Saturation, Body Temperature, Others),
By Site (Strap/Clip/Bracelet, Handheld, Headband, Shoe Sensors, Others), By
Application (General Health & Fitness, Remote Patient Monitoring, Home
Healthcare), By Distribution Channel (Pharmacies, E-Commerce, Others), By
Region, Competition Forecast & Opportunities, 2027 has analyzed the future growth potential
of United Kingdom 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 assist decision makers
take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with significant drivers, challenges, and
opportunities in United Kingdom wearable medical devices market.
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