Opportunities abound in the preventive care, diagnostic and emergency care segments

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Dublin, Jan. 24, 2023 (GLOBE NEWSWIRE) — The “Health, Wellness and Fitness Connected Wearables Market by Device Type, Use Case and Application 2023 – 2028” report has been added to the ResearchAndMarkets.com supply.

This report assesses the current state of the wearable technology ecosystem, including devices and applications in the medical, wellness and fitness markets. The report examines key challenges, market players, solutions, and the future of wearables in healthcare and related industries, including fitness and wellness.

The report also provides an outlook on the future of wearables in medicine, wellness and fitness with forecasts for the period 2023 to 2028. This includes application analysis and forecasts by physiological activity and the role of wearables in senior care and assisted living.

Select Report Findings

  • Global Health and Fitness Tracker Market to Reach $10.5 Billion by 2028

  • Currently, privacy and security concerns continue to hamper the market significantly

  • Wearables are rapidly entering the preventive care, diagnostics and emergency care segment

  • There is a need for efficient tracking of devices in terms of both storage care for delivery and use

  • The medical device market is rapidly moving into the general health, fitness and wellness category

There is a high demand for remote monitoring and diagnostics in the healthcare industry. Driving factors include health care cost inflation combined with a rapidly aging world population in developed countries. For example, almost 25 percent of United States residents are expected to be age 65 or older by 2030.

In terms of demand for products and services, over two-thirds of physicians see a strong need for remote health data collection. A large majority of healthcare providers in general also see value in instructing their patients to regularly use connected wearable medical devices. This is consistent with strong trends in the remote sensing industry as a whole.

However, some of the biggest concerns remain the ability of the patient to use the devices correctly, the reliability of the data (which is partly influenced by the former) and false positives when it comes to warnings/alarms. Data privacy and security remains an industry-wide concern, ranging from loss of personal information to device hacking.

Wearable devices for medical, wellness and fitness purposes are many and varied, consisting of different form factors depending on the purpose and placement of the human body. Wearable devices can be worn and/or integrated into clothing to make them less obtrusive. Sensors (biomechanical, motion sensors, etc.) can be placed in specific parts of the body to communicate with the overall body network system.

Improvements in delivery factors include improvements in electronics miniaturization and innovations leading to reduced device costs. Research and development in wearable health devices is leading to improved functionality, form factor improvements, and seamless integration with Internet of Things (IoT) systems and solutions.

Machine-to-machine (M2M) communication enables wearable health devices to autonomously communicate with monitoring systems for both real-time decision making and data collection for future analysis. Secure M2M-enabled data transport and IoT system connectivity facilitate the integration of health information with data analytics solutions.

One of the main reasons for wearables in healthcare is the transmission of medical care information by a licensed professional. However, there is also a market for “quantified self” in healthcare, which refers to the incorporation of technology into the collection of data about aspects of a person’s daily life. This enables users to use a Do-It-Yourself (DIY) tool for self-monitoring and self-reporting of important health items such as blood pressure. The alternative is to allow the transfer of medical data to a trusted entity.

Advanced AI-powered healthcare data management solutions are capable of processing vast amounts of healthcare information, including unstructured data obtained from many different sources and contexts. One of the challenges facing the healthcare industry is tying these systems to healthcare devices in a way that data is used while maintaining device security and end-user privacy.

The mentioned companies

  • 3L Labs

  • 4iiii Innovations Inc.

  • ActiveLinxx LLC

  • Actofit Wearables

  • Adidas America Inc.

  • Alphabet Inc.

  • Apple Inc.

  • Atlas Wearables Inc.

  • Avegant Corp.

  • BSX Insight

  • Casio America Inc.

  • ConnectDevice Holding Ltd.

  • DAQRI

  • FitBit Inc.

  • Foxtel

  • Free Wavz

  • Fujitsu

  • Garmin Ltd.

  • Glofaster

  • GOQii

  • Guangdong BBK Electronics Industry Co. Ltd.

  • Huawei Technologies Co. Ltd.

  • Chief

  • iHealth Labs Inc.

  • Instabeat

  • Intel Corporation

  • jaw bone

  • jay

  • Johnson and Johnson

  • jumpy

  • Royal Philips NV

  • Leapfrog Enterprises Inc.

  • LG Electronics

  • LifeBEAM (Vi Inc.)

  • Lifesense Group BV

  • Medtronic PLC

  • Mio Labs

  • Inconsistency

  • Monsters, Inc.

  • Motorola

  • Nike Inc.

  • NTT Docomo Inc.

  • o-synchronization

  • Oculus VR LLC

  • Polar Electro

  • Qardio Inc.

  • Qualcomm Inc.

  • Intelligence tools

  • Reebok International Limited

  • Roche Holding AG

  • Samsung Electronics Co. Ltd.

  • Seiko Epson Corp.

  • ShotTracker

  • Smiths Group plc

  • Sony Corporation

  • Soundbrenner Limited

  • Sqord Inc.

  • StarVR Corp

  • Suunto

  • Thalmic Labs Inc.

  • Timex.com Inc.

  • Tobii AB

  • Vandrico

  • Vuzix

  • Weartrons Labs

  • Xensr

  • Xiaomi Corporation

  • Zepp Inc.

  • ZTE Corporation

For more information on this report, visit https://www.researchandmarkets.com/r/aaowvq

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