Wearable healthcare devices are specific devices to track heartbeat monitoring, physical activities, and others. These devices accurately track physical measurements during exercise. These devices are easy to use, comfortable and can be used as a home nursing option, keeping clients focused on healthy lifestyle and fitness.
As per analysis, “Europe Wearable Healthcare Devices Market 2020-2030 by Device Type (Diagnostic & Monitoring, Therapeutic), Product Type (Smartwatches, Monitors/Trackers, Patches), Connectivity, Application, Grade Type, Distribution Channel, and Country Trend Forecast and Growth Opportunity” several recognized leading enterprises operating in the regional wearable healthcare industry include Leapfrog Enterprises Inc., iHealth Labs Inc., Abbott, Xiaomi Corporation, Fitbit, Inc., 3L Labs, Leapfrog Enterprises Inc., Huawei Devices Co. Ltd., Koninklijke Philips N.V., OMRON Corporation, Garmin Ltd., Apple Inc., Sony Corporation, Actofit Wearables, Johnson and Johnson, Samsung Electronics, Huawei Devices Co. Ltd., Medtronic plc and among others.
By device type, Europe wearable healthcare devices market can be segregated as therapeutic devices (rehabilitation devices, insulin pumps, respiratory therapy devices, pain management devices and others) and diagnostic & monitoring devices (sleep monitoring devices, vital signs monitoring devices, neuro-monitoring devices, glucose monitoring devices, fetal monitoring devices & obstetric devices and other diagnostic & monitoring devices). By product type, market can be segregated as smart jewelry, smart implantable, smart patches, smartwatches, and smart clothing and activity monitors/trackers. By connectivity, market can be segregated as Bluetooth technology, cellular network, Wi-Fi network, Near Field Communication (NFC) and others. By grade type, market can be segregated as clinical grade devices and consumer grade devices. By application, market can be segregated as remote patient monitoring, general health & fitness and home healthcare. In addition, by distribution channel, market can be segregated as hypermarkets, online stores, pharmacies and others.
Technological progress and increased health awareness are driving the European market for wearable health devices. The ease of use and interpretation of the data that these devices use will drive the growing demand of the market. In addition, several other factors, such as ongoing product development and commercialization, as well as improved distribution channels for large product manufacturers, are anticipated to contribute to the advanced growth of this market. In addition, the aging population in emerging countries, coupled with the growing number of patients, offers a broad opportunity for the widespread adoption of patient monitoring and portable medical device diagnostics. Moreover, economic factors for instance developing healthcare infrastructure, rising per capita health spending, and increasing investment by the industrial sector to develop the innovative technologies will drive the growth of wearable healthcare device market. Apart from this, the high cost of portable devices has resulted in slow adoption that limits their potential. Additionally, privacy concerns related to the transmission of sensitive patient information and the need for miniaturized devices with long battery life are some of the challenges facing the industry in the current scenario. Furthermore, exponential growth of chronic illness and aging of the population will provide ample opportunities to accelerate the adoption of these devices, driving the growth of this market throughout the forecast period.
It is estimated that future of the Europe wearable healthcare devices market will be bright on account of increase in investment in healthcare infrastructure, easy-to-use devices and introduction of applications for patient monitoring during the forecast period.
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Global Wearable Healthcare Devices Market 2020-2030 by Device Type (Diagnostic & Monitoring, Therapeutic), Product Type (Smartwatches, Monitors/Trackers, Patches), Connectivity, Application, Grade Type, Distribution Channel, and Region: Trend Forecast and Growth Opportunity
Ankur Gupta, Head Marketing & Communications