Wearable medical devices are handheld, worn or attached monitors of metabolic changes in the body, that record and display data whenever needed. These devices are mostly small, portable and user-friendly. Moreover, due to its fast and quick generation of results wearable medical devices are used in monitoring of blood sugar levels, blood pressure levels, sleep apnea disease, heart rate and skin temperatures.

Rising demand for user friendly and self-monitoring devices by the consumers is a key driver for growth of global wearable medical devices market. Moreover, increasing health awareness and increase in prevalence conditions such as diabetes, hypertension and cardiovascular diseases are major drivers for growth of global wearable medical devices market. Furthermore, technological advancements, attractive product features and smartphone connectivity are also driving the global wearable medical devices market.

However, lack of awareness among general population and unwillingness of the consumers to shift from conventional devices to wearable devices are key restraints for the growth of global wearable medical devices market. Moreover, device related issues such as memory problems, inaccurate results and fluctuations in data are major restraints for the global wearable medical devices market.

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Manufacturing of innovative devices and next-generation products that are smartphone compatible by key players in this market, can act as major opportunity for growth of global wearable medical devices market.

North America is a dominant player in the global wearable medical devices market and holds the largest market share in terms of revenue, due to the presence of huge number of mid-sized and large companies and rapid emergence of new players. Europe accounts for the second largest market share in the global wearable medical devices market, owing to higher adoption of wearable medical devices by the general population followed by Asia-Pacific and Middle East & Africa (MEA).

The global wearable medical devices market is a highly competitive market involving many small and big players. Prominent players in the market include Medtronic plc, Siemens AG, Fitbit Inc., Bayer AG, Panasonic Corporation, Animas Corporation- Johnson and Johnson, Smiths Medical – A Smiths Group Company, Koninklijke Philips N.V., Owlet Baby Care, OMRON Corporation, Hoffmann-La Roche Ltd and Rest Devices Inc.

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