March 1, 2022 – A new report says the wearable healthcare devices market is anticipated to grow at a CAGR of 13% from $16 billion in 2021 to $61 billion by 2032.
A report from Future Market Insights observes that the worldwide wearable healthcare market is expected to reach $30 billion by 2026. From 2022 to 2032, it is predicted to increase at a compound annual growth rate (CAGR) of 13%.
The wearable healthcare devices market is expected to be influenced by the rise of businesses such as home healthcare and remote patient monitoring devices. In addition, the wearable healthcare devices market is projected to be impacted by an increased focus on fitness and healthy lifestyle orientation.
The COVID-19 pandemic has elevated the importance of wearable medical devices in the healthcare market. As a result, various firms working on wearable medical devices from across the world are joining the wearable healthcare devices market, where wearable medical equipment can detect early warning symptoms of viral infection. For example, the Ava Bracelet, originally designed as a fertility tracker, is now being utilized to aid in the fight against the coronavirus. This wristband monitors heart rate variability, breathing rate, and skin temperature and can monitor viral symptoms. As a consequence of this, the demand for wearables is anticipated to grow.
In the wearable healthcare devices market, the adoption of new sophisticated tools and technologies such as AI and 5G is predicted to give high wearable healthcare devices growth potential.