The technology has emerged as a recent trend and also utilizes electronics to the daily activities and fits into different lifestyles and can be worn on any part of the body. There are various devices that can be used as a smartwatch, fitness trackers, exoskeleton, and medical devices. These hand and wrist devices are used to access information through automatic storage, connected devices, and activity tracking, which helps in the rise in the attention towards the healthcare and enhances their performance. Additionally, surge in technological convergence, stress-free access to information from an ERP system using gesture, touch, voice commands, presence of internet mobility, and ambient display would drive the need for these devices in the enterprise. There are multiple benefits offered by these devices such as heart monitoring, GPS tracking, and notification alert, which further supplements wearable devices.
COVID-19 scenario analysis:
The demand for medical devices is rising due to growth in the number of infected population. There are various medical devices that are used such that the infected population can be given utmost care, which includes mainly respiratory support devices such as life-support machine, atomizer, oxygen generator, and various display monitors that can be used during primary clinical treatment. Surge in population who are inclined for their protection have started using personal protective equipment such as eyeglasses, gloves and masks to prevent the spread of various diseases. The medical professionals and the civil population also require these sorts of medical equipment for protection from the infection. The manufacturers of this equipment are expected to experience higher earnings in the current scenario.
Top impacting factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
The major factors that are expected to help the market grow include increase in inclination toward better quality of life and rise in number of disorders caused due to unhealthy lifestyle. Furthermore, the surge in the disposable income and rise in the living standard are anticipated to boost the industry in the coming years. However, increase in security concerns and risk of data breaching may hinder the industrial growth during the forecast period.
New product advancements to flourish the market
In May 2020, Kerala State Drugs and Pharmaceuticals Limited, designed Sanitizer Bands, which can be worn on the wrists. The approval is said to be awaited from Shree Chitra Tirunal Institute for the Medical Sciences and Technology, which has been developing various innovative technologies for coronavirus diseases-2.
In April 2019, EXOS launched EXOS Wrist DK2, which is a wrist-based wearable haptic device. The product is anticipated to gain attention of majority of the civil population and healthcare professionals, which would boost the industry in the forecast period.
Surge in incidences of the diseases that need to be monitored to boost the market
According to estimates given by the World Health Care Organization, the cardiovascular diseases are among the number one cause of diseases globally. There are about 17.9 million deaths caused due to this disease and hence, is anticipated to help the market of hand and wrist devices to grow in the forecast period.
These are the group of disorders of the heart and blood vessels and also include coronary cerebrovascular disease, heart disease, rheumatic heart disease and other conditions. There are four out of five deaths that are caused due to heart attacks and strokes, and the estimates suggests that one-third of these deaths occur prematurely in people under 70 years of age.
Key benefits of the report:
- This study presents the analytical depiction of the global hand and wrist devices industry along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global hand and wrist devices market share.
- The current market is quantitatively analyzed to highlight the global hand and wrist devices market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global hand and wrist devices market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions answered in the hand and wrist devices market research report:
- Which are the leading market players active in the hand and wrist devices market?
- What current trends will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities in the market?
- What are the projections for the future that would help in tasking further strategic steps?
Hand and Wrist Devices Market Report Highlights
| Aspects | Details |
 By Product |
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 By Technology |
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 By Age |
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 By Distribution Channel |
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 By Region |
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 Key Market Players | Garmin Ltd, Huawei Technologies Co., Ltd, Adidas AG, Apple Inc., LG Electronics Inc, Fitbit, Inc, Samsung Electronics Co., Ltd, Nike, Inc, Motorola Solutions Inc, Sony Corporation |
 Other Players | Smith and Nephew |
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