The worldwide wearable medical device market was valued at $21 billion in 2021. Come 2030, that value is set to cross $190 billion. That’s a CAGR of 28.1% in a nine-year period. Given how this market is growing, it’s evident why so many are turning to this business.
A key reason why this market is growing so exponentially is because wearable medical devices are changing the healthcare industry. They’ve allowed doctors to provide better care, and they can help patients manage their own health. The use of wearable medical devices is growing rapidly, with hundreds of thousands of new users each year.
Here are a few ways that wearable technology is transforming healthcare.
Accessible Medical Data for Patients
The market for worldwide global big data in healthcare was valued at $32.9 billion in 2021. That value is expected to cross $105 billion come 2030. Thus, it’s clear how valuable and important this data is to hospitals and healthcare facilities, and wearable medical devices are making accessibility to this data more streamlined.
Wearable medical devices offer a unique opportunity to track and store patient health data in a way that both patients and their doctors can access.
Wearables are small enough to fit into a pocket or around your wrist, but they still contain large amounts of technology. This allows them to monitor your vital signs like heart rate and blood pressure as well as detect temperature changes. It also means that they can store this information so it can be used for diagnostic purposes later on.
Although wearable medical devices were initially designed for doctors or hospitals, they do allow patients access to some of their own personal health data. For this kind of tracking system to work properly, both parties must trust each other with sensitive information like genetic makeup or family history. If done correctly, it can lead to better understanding between doctors and patients and also make way for better diagnoses.
Better Data Helps Lead to Better Outcomes
Wearable devices can collect data that traditional devices cannot, such as measurements from multiple sources and in real time. They also offer the ability to monitor patients over long periods, which is especially useful for chronic conditions like diabetes.
This type of information is invaluable for physicians and other healthcare providers looking for ways to improve patient outcomes. Better data directly leads to better decisions about treatments and treatment plans, potentially saving lives.
Of course, wearables need to ensure the safety of this medical data. Recent medical data breaches suggest that it’s very risky for these companies to handle such large volumes of sensitive medical data. However, with the right security measures in place, this can be stopped. That’s something these wearables and the companies handling their data need to ensure.
Improved Prevention and Risk Reduction
Wearable medical devices can help patients manage their health and avoid hospitalization, which is especially important for those with chronic conditions. Wearables are also useful for patients that require long-term monitoring or have other chronic conditions like diabetes, which affects millions of Americans annually.
What’s interesting about many medical wearables is that they, too, are often prepared in the same conditions as complex medical equipment. From the materials and electronics to the manufacturing conditions, medical wearables are manufactured following strict procedures.
Some of the more complex wearables are manufactured, tried, and tested in ISO 7 or ISO 5 cleanrooms. The use of cleanrooms in such a manufacturing process indicates how carefully these devices are made. It also suggests how accurate the device readings are, which is why they can now prevent and reduce various types of health risks.
More Flexible and Convenient Than Traditional Devices
The flexibility of wearables allows a user to choose when and where they want to wear their device. This is in comparison with traditional monitoring devices, which often require patients to be in a medical setting at certain times of day or night.
Wearable medical devices can also be worn for longer periods than traditional ones. That makes them more convenient for users who may otherwise have issues with wearing bulky equipment on their bodies while they’re at work or other places that aren’t as comfortable as home.
Aiding in Remote Patient Monitoring
Remote patient monitoring is an important aspect of wearable medical devices. It brings the ease and convenience of at-home care to patients. Patients can avoid the hassle of traveling to their doctor’s office for routine checkups and get instant feedback through a device that monitors their health 24/7.
Enabling At-Home Care to Reduce Hospital Expenses
One of the most significant benefits of wearable medical devices is their ability to reduce a patient’s hospital stay. A shorter hospital stay means lower costs for patients and hospitals alike.
Wearable medical devices are also helping to reduce patient stress, anxiety, and risk of infection. For example, using a wearable monitoring device can help prevent falls by alerting an individual when he or she has been immobile for too long. Similarly, these devices can monitor blood clots in real time so that doctors can intervene quickly if they notice signs of developing clots in any part of the body.
Wearable medical devices are changing the way we care for patients and how we improve their health outcomes. They’re more convenient, flexible, and cost-effective than traditional devices, so they’re easier to use and less expensive over time.
The data they provide can also help doctors make better decisions about treatment options based on trends in heart rate or sleep patterns over time. Thus, it’s easy to see how wearable medical devices are transforming healthcare worldwide.