IGR Global Wearable Medical Devices Market | Page 2

The report on Wearable Medical Devices Market by diagnostic (vital sign monitors, ECG monitors),
therapeutic devices (pain management devices, insulin monitoring devices, respiratory therapy devices), site
of application (handheld, headband, strap, shoe sensors) trends analysis and forecasts up to 2022 studies the
market sizes, key trends and opportunities in the main geographies such as North America, Europe, Asia-
Pacific, Rest of the World. According to the report the Global Wearable Medical Devices Market is projected
to grow at a CAGR of 20.7% in terms of value over the period of 2016-2022. The growth in the world market
is primarily driven by significant contribution by North America (Leading region) region to this market.
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The wearable medical devices market has grown significantly over the past few years as innovations and
advancements in electronics, material sciences and sensor technologies have allowed various startups to
introduce relatively inexpensive and fashionable devices into the market. In addition, consumer interest in
personal health, growing awareness about wearable devices among the population, rise in geriatric
population, increasing benefits from wearable devices and rise in disposable income, are the factors that
have helped to propel this market forward. Furthermore, increasing focus on innovations by tech start-ups
and favorable government policies are also driving the market in the coming years. Along with these above-
mentioned driving factors, there are some restraints which are expected to hinder the market growing in
coming years. Privacy issues, unaddressed regulatory issues, unfashionable products, technical difficulties and
cost of these products are some of the restraining factors, which could hinder the market.
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