An autonomous, non-invasive gadget that continuously provides a medical services, such as monitoring or assistance, is referred to as a wearable medical devices. The term “wearable” suggests that the object is supported by either the wearer’s body or their clothing. Wearable technology is today widely used in the field of healthcare. The rapid advancement of mobile technology has dramatically increased the use of portable gadgets.
Global Wearable Medical Devices Market is estimated to be valued at US$ 33,303.8 million in 2022 and is expected to exhibit a CAGR of 8.0% during the forecast period (2022-2030).
Prominent Companies in the Wearable Medical Devices Industry:
1) Apple Inc.
Apple Inc. is a multinational technology company and the largest technology company by revenue, and as of June 2022, the world’s largest company by market capitalization. Apple is part of the Big Five American IT companies. The company was founded in 1976, by Steve Jobs, Steve Wozniak, and Ronald Wayne. The headquarters are located in 1 Apple Park Way, Cupertino, California, U.S.
In 2022, Apple acquired Credit Kudos, an open banking startup that provides credit assessments, for U.S$ 150 Million. In June 2022, Apple added Lockdown Mode to macOS 13 and Ios 16 that increases security protections.
2) Koninklijke Philips N.V.
Koninklijke Philips N.V. shortened to Philips is a multinational Conglomerate industry. It was founded in the year 15 May 1891 and the headquarters are located Amsterdam, Netherlands. Philips has a primary listing on the Euronext Amsterdam stock exchange. It was founded by Gerard and Anton Philips. Philip’s core products are consumer electronics and electrical products, like beauty and childcare appliances, computer accessories, MRI scanners and radiography equipment.
3) Medtronic
Medtronic plc. Is a medical device industry based in America. The company was founded in the year 1949 in Minneapolis by Earl Bakken. The headquarters are located Dublin, Ireland. Medtronic operates in more than 150 countries. Medtronic develops and manufactures healthcare technologies and therapies.
In January 2022 the company acquired Affera, Inc. In April 2022, the company announced its collaboration with GE Healthcare to support the need and care demands at Ambulatory Surgery Centers.
4) Siemens AG
Siemens AG is a German multinational conglomerate corporation and the largest industrial manufacturing company in Europe. The company manufactures products like Electric generators, Transformers, Industrial and buildings automation, PLM software, Marine engines, Home appliances, Fire alarms etc. The company was founded in the year 1847 and the headquarters are located in Munich and Berlin, Germany. The company was founded by Werner von Siemens.
In October 2021, Siemens acquired the building loT software and hardware company Wattsense for an unknown sum. In February 2022, The Company completed the acquisition of ZONA Technology, specialist in aerospace and simulation firm.
5) Johnson & Johnson services
Johnson & Johnson is a Pharmaceutical industry and a medical technological industry founded in the year 1886. The company was founded by Robert Wood Johnson, James Wood Johnson, and Edward Mead Johnson. Its headquarters are located in New Brunswick, New Jersey, U.S. The company has globally sold products worth $93.8 billion during 2021. The company has 250 subsidiaries.
6) Hoffman-La Roche AG
Hoffman-La Roche AG, commonly known as Roche, is a Swiss multinational healthcare company known for operating worldwide. Roche is the fifth largest pharmaceutical company in the world by revenue, and also the leading provider of cancer treatments globally. The company was founded in the year 1896, and the headquarters are located in Basel, Switzerland. The company was founded by Fritz Hoffmann-La Roche.
In March 2021, Roche announced its plans of acquiring GenMark Diagnostics for U.S. $ 1.8 Billion. In September 2021, the company announced it would acquire German Biotech Group, TIB Molbiol.
7) Nokia Corporation
Nokia Corporation, is a Finnish multinational telecommunications, information technology, and consumer electronics corporation. It is a public limited company listed on the Helsinki Stock Exchange and New York Stock Exchange. The company was founded in the year 1865, and the headquarters are located in Espoo, Finland. The company was founded by Fredrick Idestam, Leo Mechelin, and Eduard Polon.
