Published on : May 22, 2017
Albany, New York, May 22, 2017: The report offers detailed insights into the key trends, catalysts, and restraints of the wearable healthcare devices market in the U.S. The competitive landscape has also been assessed in the report, wherein their product portfolios, market shares, and major business strategies have been described.
Smart wearable devices aid in the tracking and monitoring of health disorders. They can monitor the temperature of the body and provide remote cardiac monitoring, apart from recording sleep statistics. As the utility of wearable healthcare devices is increasingly being acknowledged, the market for wearable devices in the U.S. is slated for considerable growth over the oncoming years. A number of diseases and disorders such as heart congestion and obesity can be managed with the help of wearable healthcare devices. Therefore, the rising incidence of chronic health disorders is one of the key catalysts of the market for wearable healthcare devices in the U.S.
Another key growth drivers of the wearable healthcare devices in the U.S. is the availability of economical broadband services across the region. As the patient population is concentrated in this country, the implementation of big data analytics is expected to boost the adoption of various monitoring devices such as remote patient monitoring and home monitoring services. Big data analytics can be deployed in the collection of healthcare data. Since this data can be transferred to hand-held devices including smartphones and tablets, the market for wearable healthcare devices in the U.S. is all set for further expansion.
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By product, the wearable healthcare devices market in the U.S. has been segmented into sleep apnea devices, wearable monitoring and diagnostic devices, insulin pump, hearing aid, and respiratory therapy devices. By end user, the wearable healthcare devices in the U.S. can be segmented into home, hospital pharmacies, and clinics. By geography, the U.S. wearable healthcare devices market has been segmented into Southwest, the South, New England, the West, the Middle Atlantic, and the Midwest.
The market for wearable healthcare devices in the U.S. is extremely fragmented in terms of competition. Investment in research and development activities is a key business strategy adopted by numerous market players. Several telecommunication operators are entering the market as the popularity of wearable healthcare devices increases.
Although the market is highly competitive, it offers vast growth opportunities. New players are constantly attempting to enter the market with innovative technologies. Consequently, the competition between the existing players is likely to intensify over the forthcoming years.
Siemens, Panasonic, Medtronic, Bayer, OMRON, Animas Corporation, Fitbit, Hoffmann-La Roche, Smiths Medical, Owlet Baby Care, Koninklijke Philips are some of the major companies operating in the wearable healthcare devices market in the U.S.
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