Wearable market to grow 35% by 2021: 5 things to know

Wearable devices like blood pressure monitors and pulse oximeters will continue to rise in popularity through 2021, according to a ABI Research forecast.

Here are five things to know.

  • The patient monitoring wearable market, for both remote and on-site devices, will rise from the 8 million shipments reported in 2016 to 33 million shipments in 2021 — a 32 percent increase.
  • The market for remote patient monitoring devices will grow almost 35 percent by 2021, representing a 60 percent share of the overall patient monitoring market.
  • The market is dominated by A&D Medical, Medtronic, Nonin Medical and Philips. Startups like Fatigue Science, Health Care Originals and Qardio have also significantly impacted the market.
  • On-site patient monitoring wearables enable providers to see a larger base of patients, since continuous updates from devices eliminate the need for multiple physical check-ins.
  • Remote patient monitoring wearables, which continuously update clinicians on vital signs and other conditions, help prevent serious medical traumas and reduce avoidable readmissions.

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