US: According to a new report from Tractica, worldwide shipments for healthcare wearables will increase from 2.5 million in 2016 to 97.6 million units annually by 2021. By the end of that period, the market intelligence firm forecasts that the global healthcare wearables market will account for $17.8 billion in yearly revenue.
“The market for healthcare wearables is very much in its infancy, though there is a considerable amount of activity across the healthcare value chain,” says research director Aditya Kaul. “Wearables are being seen as an extension of the digital transformation of healthcare, helping pharmaceutical companies to expand clinical trials, enabling insurance companies to engage with customers by incentivizing healthier living, helping healthcare providers to improve the delivery of healthcare, and empowering patients by providing them access to their own health data.”
Kaul adds that the market faces a number of remaining challenges related to sensor accuracy, consumer confidence, user experience optimization, customer education, and regulatory hurdles. The report also includes market sizing and forecasts from 2015 through 2021, providing shipments and revenues. An Executive Summary of the report is available for free download on the firm’s website.
The report covers the market for healthcare wearables, providing comprehensive coverage of the various healthcare wearable device types, their specific roles, and adoption timelines within healthcare. The devices covered include smart watches, smart glasses, fitness trackers, smart footwear, smart apparel, posture monitors, movement sensors, wrist devices, heart straps, headbands, wearable patches, wearable cameras, pain management and delivery pods.