Wearable Medical Devices Market Updates and Forthcoming Developments

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Wearable Medical Devices Market
Wearable Medical Devices Market 

Wearable medical devices are autonomous, non-invasive gadgets that continuously offer a medical service, such as monitoring or help. The word "wearable" denotes an item that may be sustained by the wearer's body or clothing. The field of healthcare makes extensive use of wearable technologies. The use of portable devices has significantly expanded as a result of the rapid growth of mobile technology. These advancements are transforming wearable technology into a top-notch health monitoring tool for medical care services, especially in light of the increased emphasis on wellness, fitness, and illness prevention.

The Wearable Medical Devices Market is anticipated to reach US$ 33,303.8 million in 2022 and grow at a CAGR of 8.0% during the following five years (2022-2030).

Over the course of the forecast period, rising research and development efforts to improve population health are anticipated to Wearable Medical Devices Market expansion. For instance, a Frontiers Media S.A. article from December 2, 2020 claims that in order to address the urgent worldwide demand for bettering healthcare quality, accessibility, and cost, wearable technology for patient monitoring and health coaching will inevitably be required. Future healthcare expenditures could be drastically decreased because to wearable technology. The field of computing in healthcare research may drive future clinical breakthroughs in healthcare delivery.

The COVID-19 pandemic, however, had a beneficial effect on the Wearable Medical Devices Market due to an increase in the number of approvals for COVID-19 clinical surveillance. For instance, Koninklijke Philips N.V., a producer and manufacturer of medical equipment, received 510(k) clearance from the U.S. Food and Drug Administration (FDA) and a CE mark on May 26, 2020. The equipment will be installed for the first time at the Onze Lieve Gasthuis (OLVG) Hospital in the Netherlands to assist in the monitoring of COVID-19 patients in hospitals.

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