Wearable Technology Devices Market Analysis Highlights the Impact of COVID-19 (2020-2025)
Wearables technology products have been accepted well in the consumer medical tech field but the healthcare industry has questioned their utility beyond heart rate tracking and for more crucial applications of healthcare. This means that the market was limited to consumers and healthcare providers till now.
The outbreak of COVID-19 pandemic has expanded the role of wearable technologies in the healthcare industry. Several companies operating in the wearables space across other domains are eager to enter the landscape of wearables to be used as early warning systems for the virus infection. One such example is the Ava Bracelet. The device has experienced success as a fertility tracking wearable whose sensors are now being leveraged to aid in combating the coronavirus. The bracelet is capable of tracking heart rate variability in addition to heart rate, skin temperature, and breathing rate making it useful in tracking the symptoms of the virus infection. The company’s chief medical officer, Maureen Cronin, said that the bracelet’s capability of remote continuous monitoring offers a unique opportunity during the outbreak. This ability of the bracelet in combination with symptomology, can be useful in triage of candidates for testing by predicting the highest probability. This can prove useful for the overwhelmed healthcare providers and governments to allocate resources more efficiently when a large number of people are isolated with symptoms. As the resources for on-floor testing are finite and are testing is presumed dangerous for health workers, remote monitoring wearables can be of immense help.
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Regional Analysis For Smart Wearables In Healthcare Market
North America (the United States, Canada, and Mexico)
Europe (Germany, France, UK, Russia, and Italy)
Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)
South America (Brazil, Argentina, Colombia, etc.)
The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)
Key Highlights Questions of Wearable Devices Market:
1. What will be the size of the global Wearable Devices market in 2025?
2. Which product is expected to show the highest market growth?
3. Which application is projected to gain a lion’s share of the global Wearable Devices market?
4. Which region is foretold to create the most number of opportunities in the global Wearable Devices market?
5. Will there be any changes in market competition during the forecast period?
6. Which are the top players currently operating in the global Wearable Devices market?
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Conclusion
It has been observed historically that new technologies and trends emerge after major incidents such as the two World Wars and the Spanish flu outbreak. The impact of the novel COVID 19 virus is expected to leave a long-lasting impact as well. The outbreak of the COVID 19 virus has led to people grappling with uncertainty around the infection and its treatment. The virus poses risk not just to human life but has caused economic distress and severe emotional strain. This has created a domino effect giving rise to new sets of needs and necessities that were not required earlier. After the pandemic subsides, major transformations are expected in the field of health-care including a general shift towards online services and enhancement of home health-care. The capacity of the healthcare systems globally is suddenly under the pressure of being exhausted as a result of the COVID-19 outbreak. Moreover, the market of wearable solutions that measure and monitor the health conditions of chronic, non-coronavirus patients are also expected to witness significant growth as they aid in reducing the overall burden on healthcare providers.