Smart Wearables in the Healthcare Industry
A report titled “The Smart Wearables in Healthcare 2016-2030” has been highlighted on globenewswire.com as providing a thorough future outlook of wearables in improving the quality of lives from a healthcare and fitness perspective. One of the main purposes of the study was to identify the smart wearables that are presently available or being developed, and to evaluate their potential within the healthcare industry.
Some notable findings within the study are as follows:
- Almost 250 smart wearables are in stages of development by over 150 companies, many of these being activity/fitness trackers in the form of wrist wearables.
- Companies have propelled their efforts towards expanding more complex wearables in monitoring critical parameters, details of which can be found in the original article. There is also more focus on wearables that can provide therapeutic benefit.
- Smart wearables are growing in popularity on social media platforms, with the study capturing over 80,000 mentions of relevant keywords on social media in the last five years. This activity has dramatically heightened in the last couple of years.
- Innovation in smart wearables is evidently backed by venture capitalists according to the study, with findings of more than 180 examples of funding across 70 companies over the last few years. $US 3.1 billion is the ball park figure that has been invested, proving that interest in the area is high when it comes to venture capital firms and other investors.
Overall, it is expected that the market for smart wearables within the healthcare sector will grow at an annualized rate of 13.6% over the next fifteen years.