In their work at the Advanced Self-Powered Systems of Integrated Sensors and Technologies Center at North Carolina State University, the authors of this article examined current trends in the medical wearable technology market. They reveal them here.
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Biomedical engineers at the University of California, Irvine have developed a wearable, disposable respiration monitor that provides high-fidelity readings on a continuous basis. Developers say this device could benefit children with asthma and cystic fibrosis, as well as others with chronic pulmonary conditions.
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The global wearable medical devices market is slated to reach $10 billion by 2023—up from $2.7 billion in 2014—according to a new report by Transparency Market Research. Based on devices type, the wearable vital signs segment is expected to hold the largest share of the market during the forecast period, researchers reveal.
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The wearable medical devices market is expected to reach $14.41 billion by 2022 from $6.22 billion in 2017, at a compound annual growth rate of 18.3%. Key factors driving market growth include the increasing penetration of smartphones and the growing preference for wireless connectivity among healthcare providers.
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The global wearable medical device market is slated to grow at a compound annual growth rate of 14.9% from 2017 to 2022, reaching $9.4 billion, according to market research firm Lucintel. Major factors driving this market include a rise in the number of chronic diseases, as well as technological innovations.
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