Growing Popularity of Healthcare Wearables To Propel Global Smart Healthcare Market
The global market for smart healthcare is expected to record an inspiring 25.0% CAGR between 2016 and 2020. The massively growing acceptance of healthcare wearables amongst buyers is one of the main reasons projected to boost the global smart healthcare market in the forthcoming years. In addition, the launch of big data analytics in the healthcare sector is bound to hasten smart healthcare market's growth in the upcoming years.
The growing approval of healthcare wearables amongst consumers is likely to drive the growth predictions for the global smart healthcare market in the near future. A huge number of healthcare devices empowered with modern features are in great demand due to the snowballing rate of health disoredrs and emergent technological inventions. Few of the wearable healthcare devices are wearable hands-free, smart watches, wristband, activity trackers, heart rate monitors, glucose monitors, smart diapers, health monitors, implantable devices, bionic suit, digital tattoos, and pedometer.
Wearable healthcare devices also support in the tracking and checking of health condition, body temperature, heart rate, remote cardiac, records sleep statistics, and calories burnt. They also help to evade numerous health issues linked with obesity and heart congestion. It has been witnessed that the demand and delivery of smart wearable healthcare devices have amplified in developed economies such as North America and Western Europe.
The contribution of big data analytics in the healthcare industry is predicted to drive the progression prospects for the global smart healthcare market in the coming years. One of the key factors accountable for the rising attractiveness of big data is its cumulative role in the dispersion of smart healthcare merchandises in the market. Some of the major benefits of big data in the smart healthcare sector consist of the enhancement in patient care, early detection, health outcomes, and healthcare cost drop. Furthermore, big data boosts the policymaking process by allowing easy access to patient data.
The global smart healthcare market is extremely uneven and competitive owing to the existence of a hefty number of regional and global players. With the mounting invasion of new players, the market will observe an upsurge in the competitive landscape. Moreover, dealers are gradually concentrating on refining their market share and market size by means of joint ventures and partnerships. In addition, these sellers are gradually concentrating on setting apart their products by proposing ground-breaking and profitable solutions.
Read more on Life Sciences on: