Diagnostic Wearable Medical Devices is anticipated to have CAGR of ~x% over 2019-2028. The growth in demand for early detection or diagnosis of the disease and preventive medications is expected to propel the market growth in the forecast period. Among the other major factor affecting the market growth include rise in the need for cost-effective diagnosis, which would help the industry boost in the coming years. Furthermore, surge in prevalence if chronic diseases and growth in the use of smartphones is anticipated to help the industry flourish.
Top Driver: Rise in the prevalence of chronic diseases to boost the industry
Diagnostic Wearable Medical Devices is projected to grow with the increase in the number of chronic diseases which needs early diagnosis for better and efficient treatment such as diabetes, blood pressure fluctuations and other cardiovascular diseases. According to the statistics given by the Centers for Disease Control and Prevention, Heart disease is the leading cause of death for men, women, and people of most racial and ethnic groups in the United States. Furthermore, the statistics shows that one person dies every 37 seconds in the United States from cardiovascular disease.
In addition, according to the CDC’s (Centers for Disease Control) National Diabetes Statistics Report for 2020 cases of diabetes have risen to projected 34.2 million.
Activity Monitors/Trackers to Make Crucial Contribution to Growth of Global Diagnostic Wearable Medical Devices Market
Among product segments of the global Diagnostic Wearable Medical Devices market, activity monitors/trackers are expected to gain maximum revenue shares in the forecast period. The increase in adoption of the unhealthy lifestyles in terms of food habits and lack of exercise is expected to help the industry flourish in the coming years. At the same hour, the surge in lifestyle diseases is contributing to the growth of the market. The increase in the availability of the devices which are cost-efficient is also attributed to boost the industry. Smart watches are expected to see higher CAGR rate, due to the ease of availability and the ease in wearing.

Higher density of key players established in the region to Benefit North American Market
North America is experiencing highest revenue growth than any other country and is anticipated to grow further in the coming years. The highest revenue offered is attributed to the increase in the number of key players offering diagnostic wearable medical devices. Asia-Pacific region is expected to experience highest CAGR in the forecast period. Owing to the rise in the disposable income in the region and increase in the patient population which is anticipated to help the industry flourish in the coming years.

Due to outbreak of COVID-19 the various industries are facing downfalls. Due to the stipulated lockout situation, the medical devices segment is also experiencing a decrease in the revenue generation. This owes to the fact that there is unavailability of resources due to the decrease in the imports and exports of goods, enforced due to the susceptibility of the virus to spread through the raw materials or other finished products.
Players to Focus on advanced Diagnostic Wearable Medical Devices
The global Diagnostic Wearable Medical Devices market leaders include Fitbit, Omron Healthcare, Cleveland Medical Device, Medtronic, Polar Electro, Basis Science, Drägerwerk, and Everist Genomics.
Medtronic plc: In March 2020, Medtronic plc announced its Medtronic Care Management Services (MCMS) business is launching two new solutions designed to help assess, monitor, and triage support for patients who may be concerned about COVID-19 and their respiratory symptoms. It has already launched its new Respiratory Infectious Disease Health Check to existing MCMS customers, and it is now launching a new COVID-19 Virtual Care Evaluation and Monitoring solution available to U.S. health systems, health plans and employers.
Fitbit: In May 2020, Fitbit launched COVID-19 wearables study for early detection algorithm. The in-app study collects wearable data and asks participants about their recent symptom history. The initiatives taken by the organization is anticipated to gain attention of the civil population and is hence expected to boost the industry in the forecast period.
Omron Healthcare: FDA granted 510(k) clearance in November to Omron Healthcare’s HeartGuide, a digital wrist watch designed to take oscillometric measurement, the same method used in medical-grade blood pressure monitors. Omron said that a cuff in the watch band inflates to capture systolic and diastolic pressure.
Scope of the Report
By Device type
” Sleep and activity monitors
” Fetal and obstetric monitoring devices
” Vital signs monitors
” Neuromonitoring devices
” ECG monitors
By Application
” Sports and fitness
” Remote patient monitoring
” Home healthcare

By products
” Activity Monitors/Trackers
” Smart Clothing
” Smartwatches
” Patches
By Region

” North America
” Europe
” Asia Pacific
” LAMEA

Key Reasons to Purchase this Report
1. It provides a technological development map over time to understand the growth rate of the industry.
2. The report offers a dynamic method to various factors that drive or restrain the growth of the market.
3. It renders definite analysis for changing competitive dynamics.
4. It builds a seven-year estimate based on how the market is predicted to grow.