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 demands 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 the high accessibility of supportive infrastructures such as hi-speed
internet connection, the presence of a raft of multinational companies, and
increasing awareness among people. Besides, multinational companies (MNC)
provide various schemes that allow users to buy devices at a lesser price. Asia
Pacific is anticipated to witness a 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.
Full Research Report On Hi-Tech Medical Devices Market Visit Here:
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Hi-Tech Medical
Devices Market Report Highlights
- Smartphones
emerged as the largest segment owing to their integration with other devices
such as smartwatches 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 the 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 the
existence of various multinational companies and the presence of
supportive infrastructure such as hi-speed internet connection
- Some of the
prominent companies operating in the market are Apple; Google; Adidas AG;
Nike, Inc.; Samsung; Sony Corporation; Xiaomi; CAE HEALTHCARE; and
Virtual-Realities Ltd.
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Hi-Tech Medical
Devices Market Segmentation
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)
- Smartphones
- 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
Hi-Tech Medical
Devices Regional Outlook (Revenue, USD Million, 2014 - 2025)
- North America
- The U.S.
- Canada
- Europe
- The U.K.
- Germany
- Asia Pacific
- Japan
- China
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- South Africa
- Saudi Arabia
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, we offer
market intelligence studies ensuring relevant and fact-based research across a
range of industries, from technology to chemicals, materials and healthcare.
For more info visit @ https://www.grandviewresearch.com
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