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Wearable Devices Help Establish Transformative Innovations in the Healthcare Space

July 27, 2020 / PR Newswire

Wearable technology is designed to detect, analyze, and transmit information concerning body signals such as vital signs, and/or ambient data. Wearable technology has a variety of applications, which grows as the field itself expands. It appears prominently in consumer electronics with the popularization of the smartwatch and activity tracker. In the healthcare setting, wearable sensing and information and communication technologies are key enablers driving the transformation of health care delivery toward a new model of connected health (CH) care. The future design and development of digital technology in this space will rely on continued analysis of best practices, pain points, and potential solutions to mitigate existing challenges within the healthcare infrastructure. Overall, the wearable medical devices market value is projected to reach USD 14.41 Billion by 2022 from USD 6.22 Billion in 2017 while expanding at a Compound Annual Growth Rate (CAGR) of 18.3%, according to a report by MarketsandMarkets. Nemaura Medical, Inc. (NASDAQ: NMRD), Abbott Laboratories (NYSE: ABT), Garmin Ltd. (NASDAQ: GRMN), Fitbit, Inc. (NYSE: FIT), Livongo Health, Inc. (NASDAQ: LVGO)