Technological advancements have brought a lot of positive disruptions to the healthcare industry. With the increasing use of latest technologies such as wearable medical devices, the healthcare industry is projected to grow as well as flourish by leaps and bounds. As per a recent industry report, the global wearable healthcare market itself is projected to reach USD 30.1 billion by 2026 from USD 16.2 billion in 2021, at a CAGR of 13.2%.
A Peek into The Wearable Medical Devices Benefits
Medical devices with wearable technology are utilized in several clinical settings to deliver better patient care at lower costs. Wearable devices, including fitness bands, smartwatches, and health trackers, can not only record and report the number of steps taken, calories consumed, but also vital signs like heart rate and blood pressure. The collection of such information by wearable medical device solutions has resulted in access to useful health data for better healthcare and wellness.
Reduced Burden of Chronic Disease Management
Wearable technology is expanding to monitor patients with chronic diseases such as diabetes, certain neurological conditions, and heart problems. This is a great way for patients to monitor their progress with these chronic conditions and get real-time data on what steps to take to increase their health and wellness.
Wearable medical devices and smartphone apps have revolutionized how healthcare providers collect, record, and analyze patient-reported outcomes. Healthcare providers are discovering innovative ways to track patient data, with these medical devices potentially improving chronic disease management and patient adherence to treatment regimens.
Personalized Healthcare Made Easier with Medical Device Solutions
One of the areas where healthcare companies will find consistent revenue is customizing their service to each patient. Medical device solutions are being used to provide personalized healthcare to patients in various ways, one such being wearable-EHR (electronic health record) integration.
Wearable medical devices collect metrics on gear brands, whereas EHRs track patient care instead. The benefits have been more evident in meeting the needs of a rapidly growing obese population. Healthcare providers are enabled to unveil wellness and rewards programs that offer personalized health assessments based on analytics by fitness tracking devices.
Wearable Medical Devices as A Key Factor for Telehealth Services
Wearable tech has evolved over the years to accommodate new technologies, modernizing to suit these needs to provide better remote patient management functionality. By discouraging in-person doctor visits, the COVID-19 pandemic helped fuel the rise of wearable technologies that powered the creation of healthcare data collection systems.
Wearable medical device solutions are now increasingly supported by cloud computing and artificial intelligence technologies, giving hospitals and providers access to a greater amount of data, which helps them make better care decisions for their patients.
Wearable medical device solutions have been a rapidly growing sector in healthcare. The following are the key driving factors behind the wearable medical devices solutions market growth –
- The growing burden of chronic diseases is a key driver for adopting wearable medical devices.
- The rapidly aging population is a key trend boosting the market
- The growing popularity of personalized healthcare to spur momentum in the uptake of wearables in healthcare systems
With the rising healthcare concerns and growing geriatric population, the industry is expected to boom further. Growing efforts by healthcare providers and government regulatory agencies in integrating wearable technologies for personalized healthcare will open new vistas going forward.