LONDON--(BUSINESS WIRE)--Global procurement intelligence advisory firm, SpendEdge, has announced the release of their ‘Wearable Medical Devices Procurement Research Report.’ The insights and data in this report provide a strategic analysis of the supply markets, factors influencing purchasing decisions, procurement best practices, pricing models, supplier landscape, and an analysis of the supplier capability matrix for the pharma and healthcare industry. This report breaks down the data and analysis behind the procurement of wearable medical devices and acts as an all-inclusive guide for making smart purchasing decisions.
“The demand for wearable medical devices have increased from major end-users such as hospitals and sports centers across the globe due to the real-time monitoring and tracking facilities provided by these devices,” says SpendEdge procurement analyst Tridib Bora. “Also, the demand for such devices is expected to grow in the US owing to the high prevalence of chronic diseases such as diabetes and hypertension and high adoption of technology in sports and fitness,” added Tridib.
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Procurement analysts at SpendEdge highlight the following top three market trends that are contributing to the growth of the Global Wearable Medical Devices Market:
- Next-generation PER systems
- The increasing use of miniature sensors
- Innovations in ergonomics, designs, and functions
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Next-generation PER systems:
Next-gen PER systems are technologically upgraded to detect neurological disorders, epileptic seizures, the onset of patient falls, and other health conditions. Moreover, they are programmed to automatically set off an alarm to notify the physician and caregivers upon detection. Such PER systems are managed using cloud platform enabled with monitoring sensors. They help in monitoring geriatric and chronically ill patients who are at high risk of injuries due to bed falls. Also, it assists in locating patients with neurological diseases such as Alzheimer's and Parkinson's.
The increasing use of miniature sensors:
Miniature sensors are tiny chips that are embedded in devices and can detect movement and speed by reading the physical motion of the in-built micro-electrical mechanical systems. Such miniature sensors are now increasingly replacing older gyroscopes in wearable medical devices. Moreover, miniature sensors are much smaller and consume less energy when compared with bigger gyroscopes. Also, they are less expensive when compared with other sensors and help in bringing down the cost of wearables.
Innovations in ergonomics, designs, and functions:
Suppliers in this market space have recently started to address the end-user demand for customized designs. Such wearable medical devices are increasingly becoming more stylish to match the requirements based on gender and lifestyle. Also, as the design of the device is customized based on customer demands, it increases the acceptability among the user groups, thereby helps in improving the profitability for buyers.
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