Wearable
Medical Device – Applications
Marketing
Articles | May 15, 2015
Wearable
medical device are device with sensors attached to the body that detect and
monitor changes in body signatures of various areas and organs. The market is
driven by factors such as large nu...
Wearable
medical device are device with sensors attached to the body that detect and
monitor changes in body signatures of various areas and organs.
The
market is driven by factors such as large number of innovators & new
technologies being introduced into the market increase in the incidence of
chronic & diabetic patients, emerging economies presence, increase in
per capita income thereby larger disposable income availability and the ease of
use and interpretation offered by the device.
However,
expensive instruments and reimbursement issues are hindering the growth of the
wearable medical device market.
The
Global Wearable device market can be segmented on the basis of Diagnostics,
Therapeutics, Applications and Geography. Geographically, the market is
segmented into North America, Europe, Asia Pacific, Middle East, Africa and
South America.
Coming
to the applications segment of the wearable device market, the market can be
segmented into categories such as Sports & Fitness, Remote Patient
Monitoring and Home Healthcare. Currently, Remote patient monitoring segment of
the applications market is the largest in the world. Patient monitoring systems
with advanced features, especially wireless or remote capability are among the
fastest growing medical device. The aging population and the associated
increases in diseases such as congestive heart disease and diabetes as well as
the cost of treating those conditions is driving sales of these device. Use of
new patient monitoring technologies can result in a need for fewer personnel,
increased coverage by existing personnel and a reduction in errors and are
expected to lead to better patient care and the recognition of serious health
problems before they become an issue.
It
is followed by the likes of Home Healthcare which is the 2nd largest segment of
the application sector. This can be attributed to the increase in the aging
population and the ease of use offered by the device which does not require
expertise in handling the device and can be used by the layman. This is one of
the prime reasons, the Global Wearable device market is on the rise. Recent
technological advances have been instrumental in the development of Sports
& Fitness sector. New device which can monitor the fitness level, heart
beat rate and other various applications have been helpful in the reshaping of
the Sports industry. This might well be growing at a rapid rate in the future.
The
major players in the market currently are Apple, Google, Microsoft, Acer, LG,
Basis Science, Corventis, Draeger, Everist Genomics, Intelesens, LifeWatch AG,
Nuubo, Omron Corporation, PhillipsFeature Articles, and Zephyr Technology
Corporation.
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As Wearable Device
Market Grows, SIM Card Shipments to Rise by 2020
Some 5.6 billion SIM
cards will ship globally by 2020, up from 5.4 billion that shipped in 2015,
according to a new report.
Even as smartphone sales slow in some markets
around the world, global SIM card shipments will continue to rise through 2020,
fueled by increases in the number of wearable device that will be sold by
electronics makers, according to a forecast from research firm IHS
Technology.SIM card shipments are expected to hit 5.6 billion in 2020, up from
5.4 billion in 2015, due to their use in many wearables, said the report, which
was announced on April 13. More SIM cards will ship as smartwatches, health
bands, smart glasses, smart clothes and other products increase their sales in
the marketplace, presenting a growth area for smart-card suppliers and mobile
network operators, according to the forecast.
"There is an
interesting move toward wearable device as companions to smartphones and other
mobile device, such as smartwatches, health bands, glasses and smart clothes,
which present a growth area for smart-card suppliers and mobile network operators,"
Don Tait, senior analyst for IHS Technology, said in a statement. "The
rising number of these device in the market is an opportunity for operators and
card suppliers to increase SIM penetration for both pluggable and embedded form
factors."Wearable device that use SIM cards "have the potential to
increase mobile network operator (MNO) subscribers, leading to more addressable
device for SIM management and increased revenue streams," the report
continues. "Companion device are expected to spur growth in the SIM card
market from 2015 to 2020, according to the IHS Digital Security Intelligence
Service."Sales channels and products are expected to evolve and change
from 2015 to 2020 as Apple, Samsung and other companies change their business
dynamics and models, the report continued.
"The traditional SIM card market is not
likely to implode any time soon, because there are still a lot of legacy
solutions that need to be catered to; however, if and when manufacturers start
changing their business models, we can expect a greater impact on the
market," he said. One change that is expected over the next few years is
that embedded SIM cards (eSIMs) will likely make their way into more
smartphones in the future, the report states. "In 2015, there were no
eSIMs in smartphones with telecom functionality; however, eSIM will be driven
by the Groupe Spéciale Mobile Association (GSMA)" in the near future.
"These new smartphone models are more likely to include dual-mode SIM,
which is a phone with an eSIM card and a removable SIM card. Cellular handsets
will not rely solely on embedded SIMs because of latency issues that need to be
backward compatible."Throughout the marketplace, handsets are replaced
much more often than SIM cards, which can typically be transferred to a new
phone or device. "Should the market move toward an embedded model, the
replacement rate of SIMs would trend toward that of handsets, reducing the SIM
card market size," the report concludes. "However, during the initial
introduction of eSIM cards in handsets, companies are more likely to follow a
dual SIM strategy (i.e. having an eSIM and a removable SIM card in a
smartphone)."To safely approach the future of the market in the next few
years, smartphone makers should include an eSIM and a removable SIM card in
their upcoming device so they can "test the market, similar to what was
done with the advent of mobile payments," according to the report.
"At the time, it was not clear if the SIM or the embedded secure element
would be the solution of choice for mobile payments, so Samsung and other OEMs
went all-in with a dual strategy and offered both" technologies."This
strategy demonstrates the opportunities that arise with targeting the largest
total available market possible and not to vex potential customers with a
strategy that is too rigid," said Tait. "The SIM card industry will
follow a dual SIM strategy."
Wearable Medical Device
Market - Large Number of Innovators and Early Adopters Boost Market
Albany, NY --
(SBWIRE) -- 04/15/2016 -- The global wearable medical device market research
report offers a detailed view of the market through various analyses based on
prior market readings, measurements of current market feeds, and forecasts for
the period between 2013 and 2019. Key revenue and market value figures of the
global wearable medical device market are provided in US$.
Analysis in the
report links the macro as well as micro changes that have occurred in the
global wearable medical device market so far, along with an elaboration on the
current market trends and influences. The report prepares a clear picture of
the global wearable medical device market's competitive landscape for a user to
be completely acquainted with the global wearable medical device market in
order to perform feasible strategic maneuvers.
Read Complete Report
@ http://www.mrrse.com/wearable-medical-device
The research methods
used to evaluate the global wearable medical device market are primary and
secondary. Primary research methodologies occupy the bulk of the overall
research efforts, still keeping all secondary avenues as descriptive and conclusive
as possible. The report incorporates varied product literature and content
obtained from top companies. It also contains data derived from public reports
of the companies' annual financial releases, press releases, and other
important avenues of information that broaden the understanding of the global
wearable medical device market. Secondary research includes data derived from
external sources with a vested interest in the wearable medical device market,
such as statistical sources from government agencies and the latest activities
and trade data in the global wearable medical device market.
The report also
presents forecasts for the global wearable medical device market using
industrially recognized methods, including Porter's five force analysis and
industry SWOT analysis. Key regions discussed in the global wearable medical device
market report are North America, Europe, Asia Pacific, and the Rest of the
World.
Read Full Table of
Content @ http://www.mrrse.com/wearable-medical-device/toc
Overview of the
Global Wearable Medical Device Market
The global wearable
medical device market is being propelled at a CAGR of 16.40% within the
forecast period from 2013 to 2019. The market was recorded at US$5.8 bn in 2012
and is expected to reach US$5.80 bn by the end of 2019. The primary growth
driver of the global wearable medical device market is the rising individual
disposable incomes across the world and the increasing adoption of new
technology for fitness purposes. North America led the global wearable medical device
market in 2012 with a 44% share, while Asia Pacific shows promise with the
fastest CAGR of over 18% from 2013 to 2019. The high expected growth rate is
attributed specifically to the rapidly developing economies of China and India.
North America
possesses the largest number of research facilities, coupled with the highest
number of developers in the global wearable medical device market. This
coincides with the high demand displayed by the region, attributed to an
increasing drive for fitness as well as the increasing number of people
afflicted by chronic illnesses.
The global wearable
medical device market could grow even faster if the R&D potential of Asia
Pacific were to be harnessed. With a growing number of investors willing to buy
into the global wearable medical device market, more companies could establish
labs and development centers in the region.
Request a Free
Sample Copy of the Report @ http://www.mrrse.com/sample/1048
Companies mentioned
in the research report
The key players in
the global wearable medical device market are Polar Electro, Intelesens Ltd.,
Philips Electronics, Nuubo, LifeWatch AG, Coventis, Inc., Everist Genomics,
Inc., Basis Science, Inc., Withings, Omron Corporation, Zephyr Technology
Corporation, and Fitbit, Inc.
The recent activity
in the global wearable medical device market shows a promising growth curve,
with companies such as Fitbit Inc. moving up, while investors sell off their
shares following steady guidance. The global wearable medical device market is
expected to be reinvigorated by the incoming wave of smartwatches that will
contain apps and connectivity options similar to what the global wearable
medical device market has to offer.
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