Wearable devices that are used for medical purposes, such as fitness trackers and health monitors, continue to gain significant popularity among all types of users. These devices can be worn on the body, most commonly as smartwatches on the wrist, or be incorporated into clothing, and are often used in conjunction with mobile health apps.
Common uses of these devices include remote patient monitoring and telehealth services to track and monitor vital signs such as heart rate, glucose levels and blood pressure. This data can be transmitted in real time to healthcare providers, enabling remote monitoring and timely interventions.
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Wearable devices with health sensors are also revolutionising the fitness and wellness landscape by empowering individuals to take control of their health and well-being. These devices offer comprehensive fitness monitoring, personalised coaching, stylish designs and integration with artificial intelligence (AI) algorithms, enabling proactive self-care.
Recent trends in this market primarily focus on the underlying technological advancements of the new product generations. These include the expansion of more health features, the integration of AI for personalised recommendations, and the ability to transmit real-time data to healthcare providers for timely interventions and improved patient outcomes.
In addition to the wearable devices themselves, the development of healthcare apps that can monitor and track health parameters, predict outcomes and symptoms based on previous observations and even provide valuable information to medical professionals has also been rapidly growing. These devices are becoming more integrated into the healthcare industry, especially for patient monitoring, remote training and support, and telehealth services. Notable advancements include H2o Therapeutics’s app for monitoring Parkinson’s disease symptoms using the Apple watch.
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According to GlobalData, the market size of wearable technology in the medical sector in 2023 is projected to exceed $100 billion and is expected to grow at a compound annual growth rate of 15% up to 2030. Apple and Garmin remain leaders in the smartwatch segment as they were among the first to make wearable devices with fitness trackers and other health-related features. There are now also disruptors entering the market with innovative health features, including technology companies such as Asus, Motorola and Swatch.
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