The healthcare industry is facing a shortage of resources, including its workforce. This strain has increased demand for remote monitoring technologies. Moreover, the COVID-19 pandemic has fueled demand for home-based care and telehealth services. This sudden increase in remote monitoring and home-based care is driving demand for regulated monitoring devices. Wearable devices aid in continuous remote monitoring of patients and are used for disease diagnosis and treatment.
Additionally, wearable devices used for the continuous monitoring of patients in hospital wards to reduce hospital staff workload, provide patient mobility, and detect early health deterioration are boosting market growth potential. Consumers have also started adopting wearable devices to monitor their chronic diseases. Moreover, the growing geriatric population drives demand for wearable devices at nursing homes and home-based hospitals.
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