Medical Wearables Market Experience a Revolutionary growth | CAGR 21.4% during Forecast Period 2020-2027

Global Medical Wearables Market is valued approximately USD 6.1 billion in 2019 and is anticipated to grow with a healthy growth rate of more than 21.4% over the forecast period 2020-2027. Medical Wearables are the handheld monitoring tools primarily used in monitoring and identification of disease. With the rise in prevalence of chronic diseases, patients are opting for home healthcare tools as an efficient and cost effective of treatment, instead of hospital services. In the present scenario, medical wearables are gaining immense traction, due to enhanced technologies that are being pioneered consistently by the manufacturers. Due to these advancements of medical wearable technology and growing demand from patients to monitor their own health has influence the growth of wearable medical device industry to develop more wearable devices, such as smartwatches, fitbits, and wearable monitors. Further, increasing occurrence of chronic diseases, such as cardiovascular, cancer, etc., increasing usage of smartphone in health monitoring, and increasing awareness for health & fitness among people are the few factors responsible for high CAGR of the market during the forecast period.