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Emerging Economies Hold Lucrative Opportunities for Wearable Medical Devices Market through 2023

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The global market for wearable medical devices has been witnessing remarkable growth in recent years, thanks mainly to the surge of technological advancements and the increasing number of innovators in the field. According to a report by Transparency Market Research, the wearable medical devices market is anticipated to expand at a strong CAGR of 16.4% from 2015 to 2023. This growth can be attributed to a number of factors: 

  • Rising incidence of chronic pain is a key factor driving the demand for wearable medical devices.
  • The number of patients suffering from Type 1 and Type 2 diabetes has increased over the past decade, furthering the need for minimally invasive wearable medical devices.
  • An increase in early adopters ensures the rapid penetration of wearable medical devices in the market.
  • The ease of use and the convenient and accurate interpretation of the real-time data collected from various devices has increased their popularity among users.
  • The rise in per capita income and spending on healthcare, fitness, and wellness, especially in emerging economies, has positively impacted the demand for wearable medical devices.
  • The integration of advanced wireless communication technologies with recently developed wearable devices has spurred market growth.

Browse Full Global Wearable Medical Devices Market Report with TOC :

UC San Diego Develops Flexible Wearable Medical Device to Track Electric, Biochemical Signals in Human Body

In early May 2016, a team of engineers at the University of California (UC) San Diego developed a first-of-its-kind flexible wearable device that can track electric as well as biochemical signals in the human body. Along with monitoring the electrocardiogram (EKG) heart signals of the wearer, the Chem-Phys patch records the levels of lactate in real time. Worn on the chest, the wearable medical device can easily and wirelessly communicate with a smartwatch, smartphone, or laptop. It can also transmit information via Bluetooth. Right from physicians monitoring heart disease patients to athletes keeping track of their workouts, the Chem-Phys patch serves a host of applications. The flexible suite of sensors used in the device allow it to be applied directly to the skin.

Monitoring Blood Glucose with Adhesive Patches and No Needles

For diabetics who hate pricking their fingers to track glucose levels, there is good news. A team of scientists at Cardiff University’s School of Engineering is working on a wearable medical device that monitors glucose levels using microwaves and no needles. The patch sticks to the skin with an adhesive and gathers the necessary data, which is then transmitted to an accompanying mobile app. Patients suffering from Type 1 diabetes usually have to prick their fingers nearly six times in a day but this non-invasive monitoring of blood glucose levels is likely to be a welcome relief.

Browse the full Press Release of Global Wearable Medical Devices Market at

Realizing the immense potential this market possesses, the competition within the global wearable medical devices market is at an all-time high. Some of the promising companies in this marketplace are Intelesens Ltd., LifeWatch AG, Cleveland Medical Devices, Inc., Zephyr Performance Systems, OMRON Corporation, Koninklijke Philips N.V., Nuubo, Polar Electro, Corventis, Inc., and Fitbit, Inc.