Medical wearables market to be worth $19.7 billion by 2024

August 05, 2019 //By Julien Happich
Medical wearables
Market research firm IDTechEx forecasts that the medical wearables market will be worth $19.7 billion by 2024, driven by the demand for continuous health monitoring and point-of-care diagnostics for the management of chronic diseases.

Following these market trends over the past ten years, IDTechEx has launched a brand-new event, Healthcare Sensor Innovations , to highlight the role that technology will play in changing the face of healthcare. The conference and table-top exhibition will take place on 25th and 26th of September 2019 at The Gillespie Centre in Clare College, Cambridge, UK.

Point-of-care diagnostics and continuous monitoring are key to the management of rising healthcare costs due to increasing populations of people with chronic diseases. One in two adults in the US have a chronic disease, and one in four adults has two or more. Patients with chronic diseases require close monitoring over a long period, making these diseases very costly to manage. An example of technology’s potential in healthcare is the continuous glucose monitoring (CGM) device. These wearable patches improve a person’s management of their condition and decreases their chances of costly health crises by providing continuous monitoring of their health status. As such, IDTechEx have forecast the market for CGM devices to grow at a CAGR of 13.5% over the next 10 years.

IDTechEx - www.IDTechEx.com

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