Wearable Medical Devices Market Share Soars: A Closer Look at the $20 Billion Valuation
The global wearable medical devices market has shown remarkable resilience and growth, with an initial valuation of over $20 billion in 2021. Analysts anticipate a robust double-digit growth trajectory extending through 2027, driven by various factors, including the rising prevalence of chronic diseases and a growing awareness of the importance of fitness and self-health monitoring.
Chronic Disease Epidemic Fuels Demand
The surge in chronic diseases such as high blood pressure, diabetes, cardiovascular diseases, cancers, and respiratory diseases, primarily attributed to sedentary lifestyles and inadequate checkups, has created an urgent need for regular health monitoring. Healthcare providers are increasingly prioritizing individual health and vitals, spurring the growth of the wearable m...