Global Military Wearable Medical Device Market is valued at approximately USD 5.7 billion in 2020 and is anticipated to grow with a healthy growth rate of more than 30.1 % over the forecast period 2021-2027. Military Wearable Medical Device is used to report the emergency data. This device can withstand the heavy impact accurately to report back such as heart monitor and performance monitor etc. The increasing need for advanced technology has led to the adoption of Military Wearable Medical Devices across the forecast period. For Instance: according to Statista in 2021, technological innovations are increasing rapidly in the field of medical sector such as development of 5G technology, artificial intelligence etc. The shipment of smartwatches is estimated to attain 253 million by 2025. Rising R&D investment in military activities enhances the market growth of military wearable medical devices. Also, with the increasing need to improve military performance, the adoption & demand for Military Wearable Medical Device is likely to increase the market growth during the forecast period. However, fluctuating defence budget impedes the growth of the market over the forecast period of 2021-2027.
The geographical regions considered for the global Military Wearable Medical Device market analysis includes Asia Pacific, North America, Europe, Latin America and Rest of the World. North America is deemed as the significant region across the globe in terms of huge market share due to the rising R&D activities for military wearable devices, increasing demand for wearable devices in the medical sector. Whereas, North America is also estimated to attain a maximum growth rate during 2021-2027. Factors such as strict training and service of soldiers, rising technological advancements towards the safety of militaries would create beneficial growth forecasts for the Military Wearable Medical Device market across North America region.
Major market players included in this report are:
Zephyr Technology Corporation
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming eight years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within each of the regions and countries involved in the study. Furthermore, the report also caters the detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, the report shall also incorporate available opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
Rest of the World
Furthermore, years considered for the study are as follows:
Historical year – 2018, 2019
Base year – 2020
Forecast period – 2021 to 2027
Target Audience of the Global Military Wearable Medical Device Market in Market Study:
Key Consulting Companies & Advisors
Large, medium-sized, and small enterprises
Value-Added Resellers (VARs)
Third-party knowledge providers