In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022. Purchasing power in the country is expected to fell nearly by 2.5%.
On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.
Frictionless remote monitoring devices are perfect solution for continuous health monitoring. These frictionless remote monitoring devices are used for monitoring glucose level, heart rate monitoring, step counting, calories consumed. The major components of frictionless remote monitoring device include biosensors, GPS system, recorder and mobile phones. Further, examples of frictionless monitoring devices include needle free glucose monitoring devices, health tracker wearable devices and biosensors. Frictionless remote monitoring devices are highly used by diabetic patients as they have to continuously monitor their health.
Global frictionless remote monitoring devices market is envisioned to grow at a robust pace during the forecast period. Rising prevalence of smart health wearable devices amongst the consumers in order to monitor their health is a major factor predicated to foster the growth of global market.
Furthermore, growing number of diabetic patients coupled with growing chronic diseases is likely to fuel the growth of global frictionless monitoring devices market during the forecast period. Geographically, global frictionless remote monitoring devices market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region.
North America is the leading market in frictionless remote monitoring devices market. Further, the North America region is expected to maintain its leading position during the forecast period owing to factors such as high adoption rate of advanced technologies coupled with increasing technological advancements in healthcare sector.
Asia Pacific region is projected to witness a remarkable growth during the forecast period. This growth in Asia Pacific region can be attributed to rising number of patients suffering from diabetes and growing awareness amongst the consumers regarding health care. Moreover, India, China and Japan are anticipated to contribute significantly in the growth of Asia Pacific frictionless remote monitoring devices market.
Additionally, Europe region is the second leading market of frictionless remote monitoring devices and is expected to witness satisfactory growth during period. High expenditure on health care and better healthcare infrastructure are some major factors which are anticipated to foster the growth of frictionless remote monitoring devices market in this region.CLICK TO DOWNLOAD FREE SAMPLE
Our-in depth analysis of the global frictionless remote monitoring devices market includes the following segments:
Global frictionless remote monitoring device market is further classified on the basis of region as follows:
Global frictionless monitoring devices market is primarily driven by growing health care awareness amongst the consumers coupled with rising prevalence of chronic diseases across the globe.
Further, frictionless remote monitoring devices are perfect solution for those situations where continuous monitoring of health is a major concern. Rising adoption of frictionless monitoring devices amongst diabetic patients is also a major factor which is likely to drive the growth of global market in near future.
Furthermore, growing popularity of smart wearable devices and their high implementation in health care devices is predicted to drive the growth of global market. Factors such as rising disposable income of the consumers, increasing spending on healthcare, growing awareness towards fitness & wellness are also important factors which are likely to foster the growth of market.
Additionally, rapid technological advancement is a major factor anticipated to boost the demand for frictionless remote monitoring devices in near future. Besides this, frictionless remote monitoring devices have wide range of ability such as ability to measure overall active minutes, activity types, active heart rate, sleep duration, calories burned, resting heart rates, distance travel and steps counting. Such abilities of frictionless remote monitoring devices are expected to positively impact the growth of global frictionless remote monitoring devices market in near future.
However, lack of technological maturity and high initial cost are some major challenges to the growth of global market. Additionally, usage restriction of wearable technology in commercial places is also a major factor which is likely to hamper the growth of frictionless remote monitoring devices market in near future.