Future of Clinical-Grade Wearable Device Market: Key Dynamics, Size & Share Analysis

The Global Clinical-Grade Wearable Market is projected to grow at a CAGR of around 25% during the forecast period, i.e., 2023-28, due to the factors such as growing health awareness among the population, rising diseases, sustainable investments in the public health systems, etc. In historical years, the number of cases of chronic diseases in countries such as the US, the UK, and others has surged, necessitating the use of Clinical-Grade wearable devices for continuous health monitoring. The growing number of health issues & the flexibility provided by the devices have expanded the market for Clinical-Grade wearables.

Top Challenges Impacting the Clinical-Grade Wearable Device Market Growth

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.

Understanding the Core Segments in the Clinical-Grade Wearable Device Market

Clinical-Grade Wearable Device Market Size, Share & Industry Trends Analysis- 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), and Others.

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Geographical Analysis of the Clinical-Grade Wearable Device Market

• North America
• South America
• Europe
• The Middle East & Africa
• Asia-Pacific

Of all the regions across the globe, North America acquires the majority of the share due to the presence of technological companies & digitalized healthcare infrastructure. 

Who Dominates the Clinical-Grade Wearable Device Market Insights on Key Industry Players?

Companies are strengthening their presence in the consumer electronics market by adopting strategies such as forming strategic alliances, leveraging AI, entering partnerships, pursuing mergers and acquisitions, expanding into new regions, and introducing innovative products and services.d

• Abott 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
• Ge Healthcare
• Others (Preventice Solutions, Inc., Covidien, etc.)

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