3-June-2019: The global hi-tech medical devices market size
is expected to reach USD 197.87 billion by 2025, according to a new report by
Grand View Research, Inc., rising at a CAGR of 29.8% during the forecast
period. Employee wellness programs along with enhanced precision, aesthetics,
and durability of devices are among the primary growth stimulants for the
market.
Market players are focusing on
aesthetics while designing these devices as they are meant for daily wear.
There are immense opportunities for players who are developing luxury watches
and jewelry that have all features of smart wearables, which is certain to
attract luxury spenders. New generation of consumers demand innovative luxury
items with a blend of exclusivity, fashion, and connectivity, which serves as a
key driver for the demand for hi-tech medical devices.
North America held a
substantial share in the hi-tech medical devices market in 2017, due to high
accessibility of supportive infrastructure such as hi-speed internet
connection, presence of a raft of multinational companies, and increasing
awareness among people. Besides, multinational companies (MNC) provide various
schemes that allow users buy devices at a lesser price. Asia Pacific is
anticipated to witness phenomenal growth in the coming years, owing to high
unmet needs, improving healthcare infrastructure, and rising per capita
expenditure. Moreover. presence of a large user base and booming economy,
especially in India and China, are also bolstering the growth of the regional
market.
In
depth research report on Hi-Tech Medical Devices Market
Further
key findings from the report suggest:
· Smart
phones emerged as the largest segment owing to their integration with other
devices such as smart watches and fitness trackers
· Fitness
trackers are expected to witness the fastest growth during the forecast period
· Handheld
devices dominated the market in 2017. This can be attributed to advent of
innovative cameras, high speed internet connection, larger storage capacity,
and fast processers
· North
America dominated the hi-tech medical devices market in 2017, owing to
existence of various multinational companies and presence of supportive
infrastructure such as hi-speed internet connection
· Some of
the prominent companies operating in the market are Apple; Google; Adida AG;
Nike, Inc.; Samsung; Sony Corporation; Xiaomi; CAE HEALTHCARE; and
Virtual-Realities Ltd.
Grand View Research has
segmented the global hi-tech medical devices market on the basis of product,
site, and region:
Hi-Tech
Medical Devices Product Outlook (Revenue, USD Million, 2014 - 2025)
· Smart
phones
· Tablets
· Smart
Watches
· Fitness
Trackers
· Virtual
Reality Sets
· Others
Hi-Tech
Medical Devices Site Outlook (Revenue, USD Million, 2014 - 2025)
· Handheld
· Headband
· Strap,
Clip, Bracelet
· Shoe
Sensors
· Others
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more research reports of this category:
About
Grand View Research
Grand View Research, Inc. is a
U.S. based market research and consulting company, registered in the State of
California and headquartered in San Francisco. The company provides syndicated
research reports, customized research reports, and consulting services. To help
clients make informed business decisions, the company offers market
intelligence studies ensuring relevant and fact-based research across a range
of industries including technology, chemicals, materials, healthcare and
energy.
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