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The Wearable Medical Device Market Is Set to Surpass USD 245.12 Billion by 2032 at 24.6% CAGR

With an expected shortage of roughly 124,00 physicians between now and 2032 and new reimbursement codes, the era of remote patient monitoring is just getting started.

"Due to recent advancements in wearable technology and a growing need among people to maintain their health, a few market participants in the healthcare industry have been encouraged to develop more smart gadgets, such as biosensors, Fitbit, and hearing devices. The rising incidence of degenerative diseases and disorders associated with lifestyle choices is anticipated to be one of the major growth factors for the market for wearable medical devices. A sedentary lifestyle is also anticipated to cause an increase in both the incidence and severity of lifestyle-related disorders during the next few years, including diabetes and hypertension. Monitoring numerous physiological parameters, including blood pressure or blood sugar levels, is necessary for some of these disorders.

This permits the integration of health details with portable medical equipment to provide doctors with real-time access to data and decrease errors. As non-communicable disease mortality rates continue to rise, there is an urgent need for more focus on personalized monitoring and care. In the end, it is anticipated that this will increase wearable medical gadget popularity."

I’m super excited to see how the ability to pair wearable data with symptoms will allow us to provide more proactive methods of care moving forward.

Check out the full report by Investors Observer.

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