Introduction
The field of smart wearable devices has advanced significantly in recent years as a result of the advent of mobile medicine, the development of new technologies like smart sensing, and the increased penetration of personalized health concepts.
These Internet of Things (IoT)-based smart devices not only help people pursue a healthier lifestyle, but also offer a constant flow of healthcare data, which can be used for disease diagnosis and treatment, by actively recording, tracking, and monitoring metabolic status and physiological parameters. Wearable technologies have the potential to completely change the ways to monitor health behavior and are increasingly finding clinical implementation for patients with various types of diseases.
Wearable Technology: New Ways of Patient Monitoring
While wearable technology has demonstrated value in the fields of entertainment, fitness, and gaming, it is making inroads into the healthcare industry at a rapid pace. Increasing advancements in sensor technology and artificial intelligence (AI) are assisting millions of people in detecting and managing chronic health conditions and avoiding serious illnesses using devices that are as small as a patch the size of a penny or small enough to be worn on the wrist.
According to a study, nearly 320 million consumer health and wellness wearable devices are estimated to be shipped across the globe in 2022, and the number is likely to surpass 440 million units as a number of new devices come out and more healthcare providers start using them.
Most wearable devices, such as smartwatches, now include heart rate monitors, and some have FDA approval for detecting abnormalities such as atrial fibrillation, a major cause of stroke. As these devices become more intelligent, the percentage of patients and consumers who use them to manage chronic health conditions and diagnose symptoms of serious diseases is likely to rise.
This is expected to assist the sales of wearable devices in healthcare to exceed $195 billion by the end of 2027, presenting huge prospects for healthcare equipment providers and associated companies to benefit from the opportunity.
The Future of Wearable Technology in Healthcare
Though wearable technology is experiencing rapid growth, the field is still considered to be in its nascent stage, presenting massive remunerative prospects for the manufacturers of smart devices, especially in the healthcare industry.
Hence, companies of all kinds, from giants to upstarts, are emphasizing on investing and developing new wearable devices with new features and functionalities to meet the surging demand for wearables across healthcare in coming years.