As a kid, you could always count on it, even after forgetting your only line in the grade school play, and coming home with chalk in your nose because you accepted the schoolyard challenge. No matter what, your mom would embrace you and tell you that you were special, and she is probably right. Each one of us is different and unique among the roughly 7.4 billion humans in this world. The interaction of our genetic code with the environment and our individual regimes define our susceptibility and predilection to diseases.
Presume you’re now middle-aged and chest troubles send you to a doctor. You can’t alter your genetic profile; it’s your parent’s most elementary and lasting gift. However, that fondness for Chicken burgers and chocolate ice cream, and an exercise system that is all-too-frequently restricted to regretful looks at the running shoes in your closet can have dreadful consequences. That’s why your mother also cautioned you to eat your vegetables and rinse your hands, not that you needed. Nowadays, your doctor would order diagnostic tests, associate your present health and test outcomes to that of an average human of your age and gender, and handle your disease accordingly. Even though you’re unique, today’s medical remedy is still generic. Therein lies the trouble. You are custom made, with a distinctive combination of routine, surroundings, exercise patterns and food inclinations. Hence, it is not startling that your response to medical treatment may be quite dissimilar from another individual with the same test results.
In the past, we depended on red lights and weird noises to alarm us to vehicle hitches. Nowadays, all vehicles have diagnostics aboard that constantly check mechanical and electrical systems, equating their present state to the factory norm. Those same diagnostic methods warn the owner of looming problems and offer a thorough account for repair. Don’t you warrant at least the same early cautions about your health?
Wearable medical devices are the answer to this problem. It is a bio-sensor that examines physiological information, generally with wireless interaction. Activity monitors, smart clothing, patches and smartwatches are few of the examples. Most wearable medical devices to date have been focused in the area of activity and training (such as walking, jogging) and calculate parameters such as distance covered, heart rate, calories spent, etc. Some even consist of GPS monitoring and tracking to increase the precise measurement of the parameters. These devices also have workplace and military relevance.
From a trade point of view, the scope of the wearable medical device market is massive. Research Analysts at Market Data Forecast, upcoming market research and consulting firm forecast that its value could reach up to $53 billion globally, with 25–35 per cent yearly growth within the next few years. Smartwatches lead the sales within this market, with the Apple Watch being the most recognizable and sold product in this category.
Several factors such as price, Security and a lack of technical know-how hinder the growth of this market, especially in the medical sector. As wearable medical devices become more advanced and intricate, they may end up in a grey area or further and may need to be strictly regulated. One of the biggest challenges in healthcare right now is patient adherence. This lack of compliance leads to inefficient use of the healthcare system. Wearable device can serve as the tool for bypassing this problem as it empowers the patient to check various medical parameters at one’s own convenience. It can also transfer the patients’ physiological information directly to their doctor, thereby removing the hassle of visiting the doctor for the diagnosis.
To conclude, Wearable medical devices are a fast-expanding and here-to-stay phenomenon that ought to be sensibly watched for new advancements. Although experts’ estimations of market growth may be over- or understated, this market is sure to impact patient healthcare and medical delivery methods in the very near future.
Check out Market Data Forecast’s comprehensive reports with in-depth analysis of the Wearable Medical Devices Market and a free research sample can also be availed. Stay tuned for trending news stories about the latest technologies and interesting Healthcare Market tit-bits.