Low Mkt Cap
#31 of 49
$10 B
High CAGR
#10 of 49
25 %
The first wearable medical device was a cardiac pacemaker, invented in 1950. Wearable devices can track various metrics like heart rate, sleep quality, and physical activity, and can be used to manage chronic conditions like diabetes and hypertension. Some wearable devices can be used for early detection of diseases like Parkinson's, by monitoring changes in gait and tremors.
0 FDA approvals in Medical Wearables
Remote Patient Monitoring
"Medical wearables can be used for remote patient monitoring, allowing providers to monitor patient data in real-time and make more informed decisions about patient care." - HealthTech Magazine, December 2021
Chronic Disease Management
"Medical wearables can be used for chronic disease management, helping patients manage their conditions more effectively and reducing the need for hospitalization." - Healthcare Information and Management Systems Society, January 2022
Preventive Healthcare
"Medical wearables can be used for preventive healthcare, helping users monitor their and identify potential risks before they become serious." - Medical Device Network, February 2022
Investor sentiment
Mordor IntelligenceJuly 2021
"...The global medical wearables market is expected to grow at a CAGR of over 19% during the forecast period 2021-2026, driven by the increasing demand for remote patient monitoring and tele solutions, the growing adoption of sensor-based and wireless technologies, and the rising prevalence of chronic diseases and lifestyle-related disorders."
Fortune Business InsightsAugust 2021
"...The global medical wearables market is projected to reach $139.3 billion by 2028, driven by the increasing demand for wearable devices for remote patient monitoring and disease management, the growing prevalence of chronic diseases and lifestyle-related disorders, and the rising awareness of the benefits of preventive and personalized healthcare."
Sector leaders
Fitbit
Fitbit's wearable technology is used to track daily fitness and sleep patterns. They also have an ECG feature in their smartwatch. The company is planning to launch a clinical trial to see if its devices can detect COVID-19 before symptoms appear.
Apple
Apple Watch is a popular wearable device that tracks metrics such as heart rate, ECG, and blood oxygen levels. The company has recently received FDA clearance for a new blood sugar monitoring feature for its watch, which will allow users to monitor their glucose levels without needing to prick their finger.
Nokia
Nokia has developed a range of wearable devices, including blood pressure monitors, thermometers, and activity trackers. Their products are designed to help people manage chronic conditions and stay healthy.
