The global diagnostic wearable medical devices market to grow at a CAGR of 14.01% during the period 2016-2020.
Global Diagnostic Wearable Medical Devices Market 2016-2020, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
Diagnostic wearable medical devices are used to monitor, control, and track an individual's vital signs at regular intervals. These devices are connected to an individual's body for the measurement of certain physiological information. They are available in the form of eyeglasses, watch, clothing, jewelry, and contact lenses. Diagnostic wearable medical devices monitor physiological data through remote or wireless communication and transmit this information to medical professionals or the user.
These are autonomous, non-invasive devices that help assess specific medical functions such as blood pressure, body temperature, respiratory rate, glucose quantity, heart rate, and blood oxygen saturation. These devices also help determine parameters such as the heart rate, muscle activity, and calories burned during exercise and activities such as walking and jogging.
According to the report, a key growth driver is the growing demand for early diagnosis and preventive medicine. Diagnostic wearable devices enable individuals to obtain real-time data, thus allowing them to track their health status. These devices include biosensing cloth, vital signs monitors, neuromonitoring devices, sensor-embedded equipment, wristband devices for sports and fitness, and sleep rate monitoring devices. For example, biosensing clothing such as Heddoko and Hexoskin allow users to know exactly in which part of the body high pressure is being exerted.
Further, the report states that one challenge that could restrict market growth is data privacy issues. Diagnostic wearable medical devices involve the transfer of individual's health data to healthcare providers, which poses several privacy issues. The implications of giving up one's health data are huge. These devices share an enormous amount of data associated with personal health and fitness to an unquantifiable audience.