According to research report the wearable medical devices market is expected to reach USD 14.41 Billion by 2022 from USD 5.31 Billion in 2016, at a CAGR of 18.3% during the forecast period. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.
The key growth strategies adopted by the top companies (profiled in the report) include partnerships, collaborations, and agreements; new product launches and approvals; expansion, and acquisition.
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Prominent players in the wearable medical device market include Fitbit Inc. (U.S.), Philips Healthcare (Netherlands), Garmin Ltd. (Switzerland), LifeWatch AG. (Switzerland), Omron Corporation (Japan), Drägerwerk AG & Co. KGaA (U.S.), Withings SA.(France), Jawbone Inc. (U.S.) and Polar Electro Oy (Finland).
Companies are focused on various organic and inorganic growth strategies such as collaborations, and agreements; new product launches and approvals; expansion, and acquisition. These strategies helped the market players to build a robust position in the market, which helped in increasing demand of customers, and to expand their presence in the global market.
This research study involves the use of extensive secondary sources; directories; databases such as Hoovers, Bloomberg Business, Factiva, and Avention; white papers; annual reports; company house documents; and SEC filings of companies.
For estimating the size of the wearable medical device market, the segmental market revenues were obtained from secondary sources through extensive primary interviews. The segment-level markets were then added up to reach the total market size of each segment (type, distribution channel, End use, and applications). The wearable medical device market size was derived by adding the markets of all these segments. The total market derived through the bottom-up approach was again validated through secondary sources and interviews.
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The overall market size derived by the bottom-up approach was used in the top-down procedure to estimate the size of the wearable medical device market through the percentage splits obtained from secondary and primary research for each product segment
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