The Market for Wearable Devices: Forecasts to 2020
The Market for Wearable Devices
Fueled by an aging population with increasing healthcare needs, increasing use of outpatient care, advancing wireless technology capability, continuing nursing shortage, and ever-diminishing healthcare resources, the market for wearable medical devices has the potential for rapid growth. Use of wearable medical devices can improve care delivery and patient outcomes, reduce mortality rates, reduce hospital admissions, and result in more efficient use of healthcare resources.
Wearable diagnostic and monitoring devices
- Wearable cardiovascular devices
- Wearable pregnancy, fetal and infant devices
- Wearable neurological devices
- Wearable sleep monitoring devices
- Wearable glucose monitoring devices
- Other wearable diagnostic and monitoring devices
- Wearable respiratory therapy devices
- Wearable insulin management devices
- Wearable pain management devices
- Body motion devices
- Sensing garments
- Fall detection devices
- Other devices
- Fitness trackers
- Activity trackers
- Sports trackers
The base year is 2015, with forecasts provided for each year through 2020. The market was evaluated via a combination of disease prevalence trends, population trends, device innovations, federal and industry standards and regulations. Both primary and secondary sources were consulted in developing market estimates. Telephone interviews and email correspondence were the primary method of gathering information. For the purpose of this study, Kalorama Information conducted interviews with more than 50 key industry officials, consultants, health care providers, and government personnel. These sources were the primary basis in gathering information specifically relating to revenue and market share data presented in this report. Specific interviews with IT company representatives included marketing directors, division managers, and product representatives.
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