North America Wearable Medical Technology Market Revenue and Analysis 2013-2019

The proliferation of wearable technologies into a field based on necessity, i.e. the healthcare industry, has been a long awaited move. Current variants of commercially available – and financially viable for the majority – wearable tech includes fitness tracking wristwatches and the likes. The healthcare industry has bigger plans for wearables and is already on the way to help people from all walks of life gain functional and increasingly useful tech that can help them live better. The modern wearable medical technologies are aimed at helping the elderly, the athletes, the disabled, and the chronically sick to perform daily tasks while not getting in their way.

Industry experts from Transparency Market Research have evaluated the global wearable medical technologies market to quantify its imminent future progress rate. To explain the analysis, the analysts have answered three question crucial to grasping the market dynamics.

What are Some of the more Commercialized Medical Wearables?

The most common use of medical wearable comes in various forms of wrist bands or watches. We have, for instance the wristbands integrated with Near Field Communication that allow a nearby scanning device to tag the band and receive an individual’s medical data. Other wrist band types may allow a patient to check their pulse, their sleep patterns, a fall or an accident, and even sleepwalking. The bands can alert the user to take their medicine on time, or alert medical personnel, hospitals, and close ones of any incident that may have occurred.

In fact, most of the wearable medical devices are a result of the convergence of conventional medical devices with portable consumer electronics. This will give us a much clearer perspective on how the global wearable medical technologies market is expected to progress in the near future.

What Other Aspects of Modern Electronics are Incorporated in Medical Wearables?

Essentially, all technologies in consumer electronics can be utilized to improve the devices in the global wearable medical technologies market. For instance, the integration of the Internet of Things (IoT) can be extremely helpful in creating a secure connected environment for a patient within a small space. The connected devices can help the patient perform daily functions without human assistance, order for prescription drugs and pay for them online, keep a record of their health, and most importantly, allow medical personnel to remotely monitor them.

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Are There Any Immediate Concerns to the Global Wearable Medical Technologies Market?

There are quite a few concerns, the most pressing of which is user safety and measurement accuracy. Device safety standards and testing may be, however rarely, lacking in a definitive set of guidelines to dictate the terms of use. Most policies, such as the U.K., Medicines and Healthcare Products Regulatory Agency’s policy, is to establish the responsibility of safety directly on the manufacturer. The agency has clearly stated in its guidelines that the manufacturers need to use a proper set of controls on the device to ensure the most safe user experience.

As for accuracy, it’s a two way street. Common lifestyle and fitness devices need a certain set of data inputs that need to be accurately fed to receive the right results. One of the biggest problems most users face is that these devices can be inaccurate at times. And the repercussions of a wrong reading can be increasingly severe when performed by medical wearables that are used by, say, cancer patients or the chronically ill.

These issues must be addressed properly in order to ensure a smooth growth trajectory for the global wearable medical technologies market.

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