The wearable devices are to track the physical activities, heartbeat observing and several others. Such devices are accurate in tracking the physical fitness measurements while doing the exercises. The wearable healthcare devices are ease, user-friendly, and opting as a choice of home healthcare, growing the aim of consumers to lead a healthy lifestyle and manage to stay fit. It may become an extensive application in home healthcare, sports and remote patient observing.
According to report analysis, ‘Global Wearable Healthcare Devices Market 2020-2030 by Device Type (Diagnostic & Monitoring, Therapeutic), Product Type (Smartwatches, Monitors/Trackers, Patches), Connectivity, Application, Grade Type, Distribution Channel, and Region: Trend Forecast and Growth Opportunity’ states that the Global wearable healthcare devices market will reach USD xx billion by 2030, increasing by xx% annually over 2020-2030 with a CAGR of xx% in terms of unit shipment, due to the increasing adoption of smart wearable technology, growing adoption of mobile platforms, augmenting the prevalence of chronic diseases, and the increasing the awareness and preference for precautionary healthcare.
3L Labs, Sony Corporation, Abbott, Actofit Wearables, Apple Inc., Huawei Devices Co. Ltd., Atlas Wearables Inc., Fitbit, Inc., Garmin Ltd., iHealth Labs Inc., Koninklijke Philips N.V., Johnson and Johnson, Leapfrog Enterprises Inc., Medtronic plc, OMRON Corporation, Samsung Electronics, Xiaomi Corporation and many more are the key corporates which recently operating in the global wearable healthcare device market more effectively for leading the highest market growth and registering the great value of market share around the globe during the near years more proficiently while increasing the applications and specifications of such, implementing the policies and strategies of enlargement and profit making, decreasing the associated prices of such, investigating and analysing the strategies of government as well as corporates, delivering the better consumer satisfaction, employing the young and active personnel, spreading the awareness connected to the applications of such, improving the qualitative and quantitative measures of such, and establishing the several research and development programs.
Impact of Covid-19
The outpouring of the COVID-19 pandemic has prolonged the role of wearable healthcare devices in the healthcare trade. Several companies working around the globe in wearable healthcare products are entering the landscape, where the early warning signs of viral infection can be detected with the support of wearable medical devices. For example, Ava Bracelet, which is primarily utilized as a fertility tracker, is now being leveraged to support in combating the coronavirus. This bracelet tracks heart rate inconsistency, breathing rate, and skin temperature making it useful in chasing symptoms of the virus. This offers a unique opportunity throughout this pandemic. Hence due to this reason, the requirement for wearable is seen to be increasing.
The wearable healthcare devices market is snowballing at a sooner pace owing to the growing technological innovations and advancements, as they can progress the lifestyle of the general populace as well as patient inhabitants. Wearable technologies proffer an appropriate mode of monitoring physiological symptoms, introducing a multitude of medical solutions.
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Ankur Gupta, Head Marketing & Communications