Technological developments in the field of healthcare sector and huge investments in R&D by the corporates is projected to drive the growth for wearable medical devices market in the forecast period, 2023-2027.
According to TechSci Research report, “United Kingdom Wearable Medical Devices Market – By Region, Competition Forecast & Opportunities, 2027”, the United Kingdom wearable medical devices market is expected to witness growth at a significant rate in 2023-2027. Wearable medical devices represent a numerous instrument that are non-invasively attached to the body for monitoring health of a patient. It includes various diagnostic devices, such as vital signs, glucose, sleep, fetal, obstetric and neuromonitoring devices, and therapeutic devices for pain management, rehabilitation, and respiratory therapy. These devices comprise of biosensors, controllers, power source and software systems for data acquisition, interpretation, transfer, and storage. They can be worn as an accessory, incorporated in clothing, or used as an implant. They are widely utilized regularly for accurate measurement of the vital stats of the patients and predicting epileptic seizures and heart problems, which can further assist in improving comfort and offering timely clinical interventions to the patient.
Several features, advancement in technology and wide range of applications of wearable medical devices in remote healthcare settings and home settings is escalating the product demand across United Kingdom. Rise in such kind of ailments along with the adoption of monitoring devices is supporting the market growth. Along with this, the progression in technology, connectivity of the users and mobility facilities have augmented the sales of the product across United Kingdom. Technological developments offer innovative solutions to the medica land healthcare sector for the disease management among the patients. Furthermore, potential of wearable technologies in enhancing the quality of patient care while reducing the cost of care will foster the overall market growth.
However, the expanding inaccuracy of wearable devices, coupled with the high Costs of healthcare devices is expected to limit the growth of the wearable medical devices market in the upcoming years.
Browse over XX market data Figures spread through 70 Pages and an in-depth TOC on “UNITED KINGDOM WEARABLE MEDICAL DEVICES MARKET”
The United Kingdom wearable medical devices market is segmented into type, products, purpose, site, application, distribution channel. Based on type, the market is divided into diagnostics and therapeutics. Diagnostics segment is expected to dominate the market in the coming years, 2023-2027. Rising healthcare awareness among people and inflating need for continuous monitoring to detect diseases at early stages, and technological advancements in diagnostic and monitoring devices are propelling the segmental growth.
Based on products, the market is segmented into activity monitors/trackers, smartwatches, patches, smart clothing.
Based on purpose, the market is segmented into heart rate, physical activities, blood oxygen saturation, body temperature, others. Based on site, the market is segmented into strap/clip/bracelet, handheld, headband, shoe sensors, others.
Based on application, the market is segmented into general health & fitness, remote patient monitoring, home healthcare. Home healthcare segment is expected to hold the significant share in the market. Wearable devices are poised to foresee the growing adoption in home care settings specifically among aging population suffering from chronic diseases.
Based on distribution channel, the market is divided into pharmacies, e-commerce, others. channel, end user regional distribution, and competitive landscape. Pharmacies segment is expected to hold the largest share in the market in the forecast year, 2023-2027. Increase in the number of pharmacies across the globe, elevating prevalence of chronic diseases, and several benefits of pharmacies such as convenience are promoting the growth of this segment.
Various key market players operating in the United Kingdom wearable medical devices market is:
- Philips Medical Systems UK Limited
- Medtronic United Kingdom
- GE Healthcare UK Limited
- Abbott Laboratories Limited
- Boston Scientific Limited
- Fitbit United Kingdom
- Dexcom United Kingdom
- Omron Healthcare (UK) Limited
- MediBioSense Ltd.
- iRhythm Technologies Ltd.
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“The expanding healthcare infrastructure, coupled with the growing prevalence of numerous chronic medical disorders the market growth. In addition to this, the escalating demand for wearable devices in healthcare facilities due to the sudden outbreak of COVID-19 pandemic across the globe is propelling the market growth of wearable medical devices. These devices have wide range of applications in monitoring, offering feedback, disease management and suggesting adequate treatment, which, in turn, is supporting individuals to keep a regular check of their health concerns and address them in a timely manner. Continuous technological advancements, including the development of the internet of things (IoT)-integrated smartwatches, patches, and smart clothing, are some of the growth-inducing factors. These advanced technologies ensure accurate storing and monitoring of patient information, both on-premises and remotely. The expanding geriatric population, coupled with growing expenditure capacities of consumers on health management technologies, are projected to augment the market growth till 2027” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm”.
“United Kingdom Wearable Medical Devices Market By Type (Diagnostics v/s Therapeutic), By Products (Activity Monitors/Trackers, Smartwatches, Patches, Smart Clothing), By Purpose (Heart Rate, Physical Activities, Blood Oxygen Saturation, Body Temperature, Others), By Site (Strap/Clip/Bracelet, Handheld, Headband, Shoe Sensors, Others), By Application (General Health & Fitness, Remote Patient Monitoring, Home Healthcare), By Distribution Channel (Pharmacies, E-Commerce, Others), By Region, Competition Forecast & Opportunities, 2027 has analyzed the future growth potential of United Kingdom wearable medical devices market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and assist decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with significant drivers, challenges, and opportunities in United Kingdom wearable medical devices market.
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