Healthcare technology is rapidly advancing, and wearables can only benefit from this. Wearable tech is simply a device that can be worn on the body, such as smartwatches, smart glasses, and other fitness trackers. The seamless integration of smartwatches and other devices with mobile health apps is steadily giving rise to the increasing number of users.
Mobile health is not just the usage of wearables. It encompasses other areas such as remote patient monitoring, and more recently COVID-19 testing apps.
The University of Mississippi Medical Center partnered with C Spire to launch the C Spire Health smartphone app in March 2020. The app places patients in a virtual waiting room; then the patient is assessed to determine if they have any symptoms. If they are determined to be high risk, the patient will be provided with a next-day appointment at the drive-through collection site.
With the increasing number of smartphone users worldwide, it is not a surprise to see mobile health app usage follow the same trend. When coupled with wearable technology, we can expect to see continued market growth.
According to GlobalData, the global market value for wearable technology is expected to grow at a compound annual growth rate (CAGR) of 19% to $64B by 2024.