The global wearable healthcare/medical devices market is expected to reach USD 38.59 Billion by 2028, according to a new report by Reports and Data. Increased adoption of smartphone based application for healthcare monitoring by individuals as well as healthcare providers is the key factor driving demand. Increasing incidence of diseases associated with heart, diabetes, obesity and hypertension is likely to increase the adoption of wearable in the coming years.
Based on WHO statistics, the number of people with diabetes has risen from 108 million in 1980 to 422 million in 2014. Additionally, research has proven diabetes as a major cause of blindness, kidney failure, heart attacks, stroke and lower limb amputation. Adoption of wearable would help in bringing down the incidence as well as mortality associated with diabetes as people would be able to track their glucose levels. For instance: the continuous glucose monitors have witnessed an increased adoption by the diabetic patients. Along with keeping a track on glucose level, the patients are able to make informed choice about their diet and physical activities.
Asia Pacific is expected to be a key revenue generating region in the forecast period. The market is projected to grow at a CAGR of 19.1% in the forecast period. Statistics suggest that Asia Pacific is the home to around 60 percent of the global diabetic population. Based on International Diabetes Federation (IDF) Diabetes Atlas, in 2017, 82 million adults aged 20-79 years were living with diabetes in the South-East Asian region. Out of this around 45.8 percent of cases were diagnosed. Adoption of wearable devices would thus help in monitoring glucose level and thus prevent further complications associated with diabetes.
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Further key findings from the report suggest
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For the purpose of this report, Reports and Data have segmented global Nanomedicine Market on the basis of products, drug delivery system, application and region:
Product Outlook (Revenue, USD Billion, 2018-2028)
Device Outlook (Revenue, USD Billion, 2018-2028)
Application Outlook (Revenue, USD Million, 2018-2028)
Key Regional Markets:
Key findings in the report:
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