Patient Monitoring Wearable Shipments to Grow by 32% by 2021
February 2, 2017 | ABI ResearchEstimated reading time: 1 minute
A surge in healthcare patient monitoring wearables will soon help reduce readmission risks and better prevent the occurrence of serious medical traumas, alleviating growing performance pressures on healthcare services. ABI Research forecasts the patient monitoring wearable market, which includes remote and on-site devices, will grow from 8 million shipments in 2016 to 33 million in 2021. Device types are diverse and include staples like blood pressure monitors, continuous glucose monitors, and pulse oximeters, as well as newer devices like Fatigue Science’s fatigue monitoring wearable.
“While previously professional-grade patient monitoring largely limited itself to a doctor’s rounds, new wearables allow medical professionals to remotely and continuously monitor patients in the hospital and beyond,” says Stephanie Lawrence, Research Analyst at ABI Research. “The devices send real-time alerts regarding any condition deteriorations or fluctuations, in effect reducing response times to potentially life-threatening changes and saving the healthcare system resources in the long term.”
On-site professional healthcare monitoring wearables, such as those by Philips Healthcare, allow medical professionals to work with a larger base of patients, as the devices continuously update doctors throughout the day on patients’ vitals and overall conditions without the need for physical check-ins. The wearables also, in effect, help to ensure that doctors do not overlook any slight changes in condition before granting patients release.
Beyond the hospital, remote patient monitoring wearables, such as blood pressure monitors and telemedicine products by A&D Medical, then provide healthcare professionals with continued access to their patients’ health, which would have otherwise been inaccessible once they left the confines of the hospital. As such, doctors can now, like with on-site treatment, monitor their patients’ conditions and better diagnose any treatment adjustments that may be necessary on the path to recovery.
A&D Medical, Medtronic, Nonin Medical, and Philips Healthcare lead the market, with startups like Fatigue Science, Health Care Originals, and Qardio beginning to challenge the incumbents and diversify the competitive landscape in offering solutions to treat specific medical conditions.
“Remote patient monitoring devices will see strong growth of nearly 35% by 2021, and will take up a 60% share of the patient monitoring market as healthcare professionals embrace the benefits that come with the ability to remotely and continuously monitor patients’ vitals,” concludes Lawrence.
Suggested Items
IDTechEx Examines the Opportunities for Wearables in Digital Health
04/19/2024 | IDTechExIDTechEx’s report, “Digital Health and Artificial Intelligence 2024-2034: Trends, Opportunities, and Outlook”, covers this ongoing trend in the consumer health wearables market and includes analysis of the opportunities and roadmap for biometric monitoring.
INSPECTIS Offers Slider Plate Stand for Optical Inspection
04/01/2024 | INSPECTISINSPECTIS introduces a new specialized slider stand capability for repetitive optical inspection tasks, for example, for the production of special devices such as stents.
Absolute EMS Completes ISO 13485:2016 Recertification, Strengthening Commitment to Medical Device Quality Systems
03/25/2024 | Absolute EMS, Inc.Absolute EMS, Inc., an award-winning EMS provider of turnkey contract manufacturing services, proudly announces the successful completion of its ISO 13485:2016 audit, reaffirming its commitment to excellence in medical device manufacturing.
IMI Signs Memorandum with RRR Manufacturing PTY Ltd.
03/12/2024 | IMIIntegrated Micro-Electronics, Inc. (IMI), A memorandum of understanding (MOU) was recently signed between Integrated Micro Electronics Inc. and RRR Manufacturing PTY Ltd for the manufacture of portable automated external defibrillator solutions branded as CellAED. IMI will manufacture the full box build for the medical device that will be distributed both locally and abroad.
NEOTech Implements Advanced Technology for Enhanced Barcode Tracking in High-Tech Medical Device Production
03/08/2024 | NEOTechNEOTech, a leading provider of electronic manufacturing services (EMS), design engineering, and supply chain solutions in the high-tech industrial, medical device, and aerospace/defense markets, is thrilled to announce the implementation of improved technology to further enhance barcode tracking in the production of high-tech medical devices.