UAE Wearable Medical Devices Market to grow with a CAGR of 24.13%
Increasing healthcare infrastructure and
a supportive regulatory environment are the major drivers for the UAE Wearable Medical Devices Market.
According to TechSci Research report, “UAE
Wearable Medical Devices Market
Industry Size, Share, Trends, Competition,
Opportunity and Forecast, 2018-2028”,
UAE Wearable Medical Devices Market has valued at USD 0.28 billion in 2022 and
is anticipated to witness an impressive growth in the forecast period with a
CAGR of 24.13% through 2028. This
can be due to collaborations and partnerships among leading companies with a
diverse approach to merge the expertise of individual companies and to
strengthen their position.
The growing trends in fitness and
wellness play a crucial role in driving the demand for Wearable Medical
Devices. Increasing
awareness of the importance of personal health and well-being drives
individuals to seek tools that enable them to monitor and manage their health
actively. Wearable devices,
such as fitness trackers and smartwatches, offer features that allow users to
track physical activity, set fitness goals, and monitor progress over time. The
trend of setting and achieving fitness goals aligns with the capabilities of
wearable devices, making them popular among individuals pursuing an active
lifestyle. Wearable medical
devices go beyond fitness tracking to offer holistic health monitoring,
including sleep quality, stress levels, and vital signs. The desire for a
comprehensive understanding of overall health aligns with the
multifunctionality of modern wearable devices.
Many wellness programs and initiatives
incorporate wearable devices to encourage participants to engage in physical
activity and adopt healthier habits. Wearable devices provide a tangible and
measurable way for individuals to participate actively in wellness programs.
Wearable devices often include
social features that enable users to connect with friends, join fitness
challenges, and share achievements. The social aspect enhances user engagement
and encourages a sense of community, contributing to the popularity of wearable
devices.
Browse over XX market data Figures and spread through XX Pages and an in-depth TOC on " UAE Wearable Medical Devices Market.”
In October 2023, Huawei has
entered a new phase in its wearable technology offerings, launching a
collection of stylish, health-centric, and sport-ready devices during its
'Wearable Strategy and New Product Launch' event in Dubai. The Chinese consumer
brand showcased its commitment to merging technology and fashion with a
'Fashion Forward' approach, aiming to redefine the wearables industry and
deliver a comprehensive wrist companion for contemporary lifestyles. The event
featured the introduction of several new devices, including the Huawei Watch GT
4, the latest iteration in its popular smartwatch series, the premium Huawei
Watch Ultimate Design, Huawei FreeBuds Pro 3 high-fidelity TWS earbuds, Huawei
Eyewear Two smart glasses, and the Huawei MatePad in 11-inch and 11.5-inch
PaperMatte Editions, providing a paper-like reading and writing experience with
a 97% reduction in light interference.
Competition
and market saturation pose significant challenges in the UAE Wearable Medical
Devices Market, as they do in many mature and competitive markets. The
wearable medical devices market has seen a surge in the number of companies
entering the space, leading to heightened competition. The increased number of
players can make it challenging for individual companies to differentiate their
products and gain market share. Achieving product differentiation is crucial,
but it becomes challenging in a market with numerous similar devices. Companies
must focus on innovation and unique features to stand out from competitors and
attract customers. Intense competition can lead to price wars, where companies
lower prices to gain a competitive edge. While this may benefit consumers, it
can negatively impact profit margins and limit investment in research and
development.
UAE Wearable Medical Devices
Market is segmented based on Type, Products, Purpose, Site, Application, Distribution
Channel, and by region.
Based on the Product, UAE
Wearable Medical Devices
Market is segmented into Activity Monitors/Trackers, Smartwatches, Patches,
Smart Clothing. Patches in wearable medical devices refer to adhesive, thin,
and flexible devices that adhere to the skin, allowing for continuous
monitoring, sensing, or drug delivery. These patches have become an integral
part of the wearable medical technology landscape, providing a non-intrusive
and discreet way to collect health data or deliver therapeutic substances.
Wearable patches are
designed to adhere securely to the skin's surface. The adhesive ensures that
the patch stays in place during normal activities, allowing for continuous data
collection or drug delivery. Patches are typically thin and flexible, conforming
to the contours of the body. This design enhances comfort and makes the patches
less obtrusive during daily activities.
Based on Region, Abu Dhabi region held the largest share
in the UAE Wearable
Medical Devices Market.
The healthcare policies and
regulations in Abu Dhabi may be conducive to the integration of wearable
medical devices, making it easier for healthcare providers to adopt and
implement these technologies. The level of awareness and education about the
benefits of wearable medical devices among healthcare professionals and the
general population in Abu Dhabi may be higher, leading to increased acceptance
and usage. The population in Abu Dhabi may have specific health needs or
demographics that make wearable medical devices more relevant and in demand.
Some of the major companies operating in
the UAE Wearable
Medical Devices Market include:
- Philips
Healthcare Middle East
- Medtronic
UAE
- Abbott
Laboratories Inc. (UAE)
- GE
Healthcare UAE
- Fitbit,
Inc. (UAE)
- Dexcom UAE
- Boston
Scientific Corporation
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“Certain areas,
particularly in Dubai, are projected to exert significant demand for Wearable
Medical Devices. The growth in the competitive landscape and the presence of
well-established companies in the market, committed to enhance the overall
wellbeing of people each year, are expected to contribute to a remarkable
growth of the UAE Wearable Medical Devices Market in the
forecast period," said Mr. Karan Chechi, Research Director with TechSci
Research, a research-based Global management consulting firm.
UAE Wearable Medical Devices
Market by Type (Diagnostics, Therapeutic), By Products (Activity
Monitors/Trackers, Smartwatches, Patches, Smart Clothing), By Purpose (Heart
Rate, Physical Activities, Blood Oxygen Saturation, Body Temperature, Others),
By Site (Strap/Clip/Bracelet, Handheld, Headband, Shoe Sensors, Others), By
Application (General Health & Fitness, Remote Patient Monitoring, Home
Healthcare), By Distribution Channel (Pharmacies, E-Commerce, Others), By Region, By Competition Forecast & Opportunities, 2018-2028F has evaluated the future growth potential of UAE
Wearable Medical Devices Market and provides statistics & information on
market size, structure, and future market growth. The report intends to provide
innovative market intelligence and help decision makers take sound investment
decisions. Besides, the report also identifies and analyzes the emerging trends
along with essential drivers, challenges, and opportunities in UAE Wearable
Medical Devices Market.
Contact
Mr. Ken
Mathews
Techsci
Research LLC
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