Wearable Medical Devices Market Top Companies, Trends and Future Prospects Details for Business Development

 The global Wearable Medical Devices market size is expected to reach USD 85.6 billion by 2027 according to a new study by Polaris Market Research

Wearable medical devices are defined as the autonomous devices worn by the individual to provide medical or fitness monitoring and support over a period of time. They are either worn as a body accessory or being embedded in cloth or shoes. They incorporate non-invasive sensors, wireless transmission, real time data processing capabilities, and also provide medical feedback.

 

Recent developments in wearable medical devices include alert mechanisms, decision support systems, and real time analysis. These wearables offer point of care, and remote management for rehabilitating individuals, disabled and chronically ill.

 

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The prominent factors favoring the wearable medical devices market growth include an increase in the prevalence of lifestyle-related diseases, consumer awareness towards fitness, and advancement in technology and medical innovation with ever increasing interest of consumer electronic companies. According to the study published by the International Diabetes Federation (IDF), in 2015, there were approximately 415 million diabetic people and it is expected to increase to 640 million by 2040. The high prevalence of diabetes is an important driver boosting market growth.

 

With a spike in infectious diseases over the past decade, the Stanford Healthcare Innovation Lab (SHIL) set up a team to study the impact of wearables to track infectious diseases. Moreover, in April 2020, Scripps Research Translational Institute (SRTI) launched DETECT, under which data from activity trackers and smart watches would be integrated into public health surveillance program for proactive disease tracking and population health programs.

 

Market participants such as Medtronic plc, OMRON Corp., Biotelemetry Inc., Apple, Inc., Koninklijke Philips, Dexcom Inc., Abbott Laboratories, Verily Life Sciences, GE Healthcare, Bio-Beat Technologies, Masimo Corporation, iRhythm Technologies, Inc., Preventice Solutions, Inc., CONTEC Medical Systems Co. Ltd, VitalConnect, Minttihealth, Biotricity Inc., Cyrcadia Asia Limited., Garmin Ltd, Xiaomi Technologies, ten3T healthcare, Fitbit, Inc., and Huawei Corporation are some of the key players operating in the Wearable Medical Devices market.

 

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Players in the market are focusing on developing low cost wearable accessible to all strata of the population within the geographic footprint. In line with this, India based Muse Wearables is manufacturing a wrist based wearable tracker at a cost of INR 3,500. With this, it will continuously monitor skin temperature, blood O2 saturation levels, and heart rate to track body vital signs to diagnose COVID-19 symptoms in early stages. The device is Bluetooth enabled and could be connected via ‘Muse Health App’.

 

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Aircraft Fairings Market Forecast 2020-2026, Latest Trends and Opportunities

 The global aircraft fairings market size is expected to reach USD 1,713.1 million by 2026 according to a new study by Polaris Market Research. An aircraft fairing is an essential structure which manages and the flow of the airplane body in different directions and axes with reducing the various types of drags such as wave drag, interference drag, parasitic drag, engine cooling- drag and other types of drag. The implementation and functional characteristics play a critical role in design, certification and operational aspects of all narrow-body, wide-body, very large, regional and general aviation. These structures directly affect the performance of an airliner as compared to any other old generation airplane without these structures. In other words, airplane fairings are the smooth structures for reducing the air drag between the joints such as wings & fuselage and engine & wings during the flight.

 

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Fairings are an essential feature of all airplanes as it reduces the drag at most of the areas of airplane body, reduces the roughness of the body surface, increases the smoothness by covering the gaps between the joints of structures, provides an external outline to the aerodynamic structure of the airliner and increases the speed and its efficiency. The complexity of aerospace fairings depends on several parameters including the type of jet, design, fairing application areas, and number of fairings. For instance, General aviation airliners have lesser complex fairings, whereas long haul/commercial jets usually have more complex fairings addressing the aircraft’s application requirements.

 

According to Polaris market Research, the global market for airplane fairings has less than 90 players throughout the world, wherein top 5 major players accounted for a market share of more than 50% in 2019. Companies such as Composite Technology Research Malaysia (CTRM Aerocomposites Sdn Bhd), FACC AG, Finmeccanica-Alenia Aermacchi S.p.A., KAMAN CORPORATION, Korean Air Aerospace Division, Malibu Aerospace LLC, Royal Engineered Composites, ShinMaywa Industries Ltd., Spirit AeroSystems Inc., Strata Manufacturing (a Mubadala Investment Company), Triumph Group, Collins Aerospace (UTC Aerospace Systems) are some of the key players operating in this market. 

 

Rise in global airplanes fleet size, rising demand to streamline aerodynamic structure of jets to boost speed & accuracy, growing global commercial aircraft & general aviation deliveries, introduction of new generation carriers and increasing trend of lightweight components in order to reduce overall weight & increase the fuel efficiency by reducing operational costs, are some of the major factors acting as key drivers of this market.

 

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Among aircraft type, wide-body airplane was estimated to be the largest sub-segment in 2019 and is expected to be the largest during the forecast period as well followed by narrow-body aircraft and very large aircraft sub-segments. This is owing to increasing production and rising demand of wide-body airliner such as A320, B787, B737 and others. Moreover, Airbus anticipated that approximately 34,900 commercial airplanes (narrow-body, wide-body, and very large) will be delivered during 2017 to 2036. A320 family, B737, B787, and A350XWB would remain the growth engines for the commercial airplane segment.

 

Among material type, composites accounted for the largest share in 2019 and is expected to be the largest segment during the forecast period as well. Also, composites are expected to be the fastest growing material type for airplane fairings during the forecast period owing to increasing demand of lightweight components for airplane structures along with long endurance and less maintenance.

 

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Among manufacturing process type, prepreg layup process was estimated to be the largest sub-segment in 2019 and is projected to be most dominant during the forecast period as well. Also, its is expected to be the fastest growing manufacturing process type for aircraft fairings during the forecast period as well owing to its higher suitability for the composite fabrication and highly preferred method for complex structure for fairings parts. Higher preference towards the prepreg layup by the commercial, general aviation and regional airplane OEMs; increasing production rates of commercial jets, such as B787, A350XWB, and B737; upcoming or the new variants of existing aircraft such as Bombardier C Series and Embraer E-2 jets; and rising airplane fleet size are the major growth drivers of prepreg layup process for the manufacturing of the fairing components globally.

 

Among region, North America was estimated to be the largest region in 2019 and is also expected to be remain the largest during the forecast period as well. The U.S. is growth engine of this region and accounted for more than 90% of share in the North American market in 2019. This is owing to large presence of small to mid-sized airplanes OEMs, fairing component manufacturers, raw material suppliers, & distributors. In addition, increasing production rates of the airliner models such as B737, B737 Max, B787, B797, B777x, and combat jet such as F-35 is another major factor aiding in the growth of this market in the region.

 

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Racing Drone Market Forecast 2020-2026, Latest Trends and Opportunities

 The global racing drones market size is expected to reach USD 2,060.7 million by 2026 according to a new study by Polaris Market Research. 

 

Racing drones also called FPV (First Person View) refers to high speed small sized drone with specific configurations required to participate into racing sport events worldwide. Drone racing is a sport event which was initiated in Australia (2013) wherein many drone pilots met together to participate in a championship. The participating machine must have to fulfill the specific requirements of organizing leagues wherein factors such as weight, speed, motors, and propellers plays very important role. Racing drones are basically high-speed machines along with FPV camera and controller which is operated by a high skilled pilot in such sports championships.  The global racing drones market size is expected to reach USD 2,060.7 million by 2026 according to a new study by Polaris Market Research

 

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Top Key Player : Airjugar Technology Co. Ltd., Autel Robotics, DJI, eachine, Guangzhou Walkera Technology CO. LTD, Hubsan, ImmersionRC Limited, mjxrc.net, Parrot Drones SAS, RotorX, Spin Master (Air Hogs), Skyrocket LLC (Sky Viper), UVify Inc., and YUNEEC are some of the major players in this market.

 

Increasing production propelled by adoption the world, introduction of high-speed drones, rising expenditure in R&D, increasing racing sports tournaments across different countries in the world, and increasing adoption of such racing trends by different countries are some of the major factors aiding in the growth of this market. In addition, factors such as requirement of highly skilled pilots to operate these machines in the racing tournaments and complexity in assembly of parts for beginners are some of the major restraining factors impacting negatively.

  

Among drone type, the market was segmented into RTF (Ready-to-Fly) and ARF (Almost-Ready-to-Fly). RTF are the drones which comes with complete assembled parts and a controller along with it to which the operator can easily operate it directly without any difficulties to assemble the parts. ARF comes up with disassembled parts to which the operator has to combine all the parts based on its requirements to make it operable in the field. Most of the FPV pilots have their preference towards ARF drones so that they can customize it to gain more speed by replacing high speed motors, propellers, and other components based on a event eligibility criterion. ARF segment was estimated to be largest sub-segment in 2019 and also it is expected to maintain its dominance during the forecast period as well. This is owing to cost of ARF against RTF which is more expensive as it has customizable options which provide the flexibility to the pilots.

 

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Among application, the market is segmented into rotorcross, drag race, and time trial. Rotorcross is a racing event where many drones compete across an arena full of obstacles & number of laps wherein the first drone to cross the finish line wins the championship. Drag race is a racing event in which a number of pilots race together wherein the drone which achieve highest speed wins the race. Similarly, time trial is a event wherein the participants have to complete the laps in a minimum amount of time. In 2019, rotorcross segment dominated the market and expected to be largest during the forecast period as well. This is owing to increasing number of rotorcross events across different regions of the world. For instance, MultiGP is one of the biggest racing events across the world and till 2019 it has organized more than 12,500 racing events since 2015. Similarly, DCL (Drone Champions League) is another major event which occurs every year across different regions in the world. These events are expected to increase the demand for FPV across the world.

 

Among region, North America was estimated to be the largest region in 2019 and is also expected to be remain the largest during the forecast period as well. The U.S. is one of the major regions and accounted for more than 70% of share in North America. Moreover, increasing awareness for drone racing sports across the region among the audience and growing adoption across different end-use sectors are some of the major factors aiding the growth of the market in the region. Furthermore, Asia Pacific was expected to be the fastest growing region during the forecast period of 2020-2026 propelled by the countries such as China, Japan, and South Korea.

 

The global market is moderately consolidated and the top five players of this market accounted for more than a share of 45% in 2019, according to Polaris Market Research. These companies are continuously investing in R&D activities in order to fulfil the continuous demands for better technologically advanced products. Some of the major companies in this market include

 

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Smart TV Market Incredible Possibilities & Growth Analysis and Forecast To 2026

The Global Smart TV Market Size Worth USD 341.6 Billion By 2026 according to a new market research report by Polaris market research. In 2017, the Full HD Smart TV segment dominated the global market, in terms of revenue. Asia-Pacific is expected to be the leading contributor to the global market revenue during the forecast period.

Polaris Market Research presents a most up-to-date research on “Smart TV Market [By Resolution Type (4K UHD TV, HDTV, Full HD TV, 8K TV); By Screen Size (28 to 40 Inches, 41 to 59 Inches, and Above 60 Inches); By Distribution Channel (Direct, Indirect); By Region]: Market Size & Forecast, 2017 – 2026”

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The increasing adoption of 4K televisions, and growing penetration of high-speed internet have boosted the adoption of smart TVs. Increasing disposable incomes, and growth in media & entertainment industry further support the growth of this market. Increasing penetration of televisions, growing demand for superior video and audio television content, and rising consumption of online content boost the adoption of smart TVs. Increasing investments by vendors in technological advancements coupled with increasing demand from emerging economies further boost the market growth.

The growing disposable income has encouraged consumers to buy technologically advanced television sets that are in perfect amalgamation with their increasing living standards. Moreover, consumers are opting for high quality video and audio services along with the ability to connect to the internet. Thus, lofty living standards and increasing consumption of online content, would contribute to the growth of the smart TV market, thereby positively affecting the market growth.

Asia-Pacific generated the highest revenue in the market in 2017 and is expected to lead the global market throughout the forecast period. The increasing disposable incomes in developing countries of this region, and growing media and entertainment industry drive the market growth in the region. There has been a significant increase in the shipment of smart TVs in the region. The growing demand for high quality audio and video services, along with the need to connect to the internet has encouraged consumers to invest in smart TVs. Local players are introducing low cost Smart TVs with advanced technologies to cater to the growing demand of consumers. Numerous key players have adopted partnership and expansion strategies to increase their market share in Smart TV markets of the Asia-Pacific region.

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The different ranges of screen sizes covered in the report include 28 to 40 Inches, 41 to 59 Inches, and above 60 Inches. In 2017, the 41 to 59 inches segment accounted for the highest market share. Smart TVs with screen sizes in the range of 41 to 59 inches are gaining traction worldwide owing to improved capability to offer superior video and audio quality along with additional features. Introduction of low cost smart TVs by the market players have boosted the growth of this market segment.

The well-known companies profiled in the report include LG Electronics, Inc., Koninklijke Philips N.V., Sony Corporation, Samsung Electronics Co. Ltd., Sharp Corporation, Hitachi Ltd., Toshiba Corporation, Haier Electronics Group Co., Ltd., Panasonic Corporation, Videocon Industries Limited, and Skyworth Digital Holdings Ltd. These companies launch new products and collaborate with other market leaders to innovate and launch new products to meet the increasing needs and requirements of consumers.

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