LONDON--(BUSINESS WIRE)--The Global Smart Wearable Healthcare Devices and Services Market is expected to post a CAGR of 27.99 percent from 2014-2019, according to a new report from research firm Technavio.
Higher life expectancy has led to major increases in the aging population and several chronic diseases, especially in regions like North America and Western Europe. This has necessitated the need for effective monitoring of health conditions and daily activities, especially for elderly patients.
“Wearable healthcare devices facilitate tracking and monitoring of patients from any remote location and also reduce the cost of traveling, save time and ensure that proper care is provided to patients,” says Faisal Ghaus, Vice President of Technavio.
The Technavio report emphasizes the increased use of smart wearable devices for tele-home healthcare. Monitoring many patients in hospitals can be a tedious process because of the lack of adequate resources. Smart wearable devices enhance treatment and monitoring processes by saving time and reducing healthcare costs.
“Smart wearable healthcare devices also help in self-assessment and provide useful insights on the disease to patients as well as physicians, which ultimately cumulates in better care for the patient,” says Ghaus.
Technavio currently has more than 3000 market research reports on a huge range of topics, including:
- Global Smart Wearable Entertainment Devices and Services Market 2015-2019
- Global Smart Wearable Fitness and Sports Devices and Service Market 2015-2019
Technavio is a leading global technology research and advisory company.
Founded in 2003, Technavio has about 200 analysts globally and develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
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