The North America Medical Wellness Devices Market To Revolve Around Substantial Growth In The Next Decade

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North America Medical Wellness Devices Market
Report Id PMRREP32486 Category Life Science
Healthcare
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The North America Medical Wellness Devices Market
To Revolve Around Substantial Growth In The Next
Decade

• Medical wellness devices such as thermometers,
  blood pressure monitors, oximeters, diabetes
  monitors, sleep trackers, and smart watches are
  important devices that are very helpful in
  monitoring the health condition of patients.
  Devices such as braces, orthotics, and those for
  mobility care are helpful for serious injuries or
  dysfunction / disability of any body part.
• With consumer awareness regarding these devices
  increasing, the market is expected to witness
  high growth. As the number of people with heart
  diseases, blood pressure, injuries, and accidents
  is increasing year on year at 10 growth rate,
  the need for medical wellness devices is rising
  faster than before.
• According to a new report published by
  Persistence Market Research, the North America
  medical wellness devices market was valued at US
  29.5 Bn in 2020, and is predicted to expand at
  a CAGR of more than 7 over the forecast period
  (20212031).

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Key Takeaways from Market Study

• The thermometers segment is expected to grow at a
  fast rate of 10 CAGR, due to their multiple
  applications such as checking temperature of
  body, research work, and maintaining room
  temperature.
• Smart watch medical wellness devices are expected
  to contribute around 27 revenue share by 2031,
  owing to their wide availability and increasing
  adoption to detect pulse rate.
• Among all the end users, retail sales accounted
  for more market share than others.
• The United States holds the highest share in the
  North American market, owing to the presence of
  more medical device companies, high healthcare
  expenditure, and adoption of advanced medical
  tools and devices in the country.
• Key players are focused on strengthening their
  clinical pipelines with new discoveries of novel
  abuse-deterrent formulations.
• Demand for braces and supports rising due to
  increase in geriatric population across the
  world, says an analyst of Persistence Market
  Research.

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