Wearable Medical Devices Providing Innovative Solutions in a War Against COVID-19
When the world is fighting against coronavirus pandemic, many industries are facing financial loss. Some businesses have either been sold or shut. People are losing their jobs and many industry leaders and experts have announced the recession. On the other positive side, it has been observed that few industries such as pharmaceutical, biotechnology, healthcare IT and medical devices etc. are witnessing exponential growth and wearable medical devices market is one of them.
Wearable medical devices are electronic and equipped with sensors that help to monitor and track patient’s health. Some of the main uses of these devices are activity tracking and infant monitoring. These devices are able to monitor vital signs like heartbeat, temperature, blood oxygen saturation and blood pressure. This way, with wearable device, patient gets an access to maintain his/her health records while performing the daily routine activities/tasks.
In recent years, the market of medical wearable devices has experienced continuous growth due to the factors such as rising prevalence of chronic diseases, increasing geriatric population and spreading awareness regarding importance of fitness.
Considering the ongoing coronavirus crisis, it has become very challenging for government and healthcare experts to control the spread of virus, handle the healthcare system efficiently and save people’s lives. To control this, these administrators are looking for innovative technology-based solutions.
For, instance, Singapore government is planning to provide wearable to its all citizens. The initiative is a contact tracing effort that will help to identify people who had interacted with carriers of Coronavirus.
In recent days, it has been observed that some companies of medical wearable devices are considering this pandemic as an opportunity to expand the business globally. They are seen performing strategic activities like collaborations, partnerships, launching products, or gaining approvals/patents.
Yesterday, Israel’s CardiacSense has signed a $32.4 million deal to sell its 150,000 medicalwatches in India. The company said the watches can monitor vital signs like temperature, blood pressure and blood oxygen saturation etc. and to be used in home hospitalizations, hospitals and patient monitoring. The company also said that it is in the process of receiving FDA and CEO regulatory grants for marketing in the United States and Europe.
As hospitals are filled with COVID-19 patients, some patients suffering from other health conditions don't feel comfortable to visit hospitals. These devices help to understand vital signs. Based on the readings provided by the wearable, patients are able to consult doctor by calling them. That helps them to not only continue treatment of existing disease but also prevent from getting infected by COVID-19 virus.
There are two types of extreme cases of Covid-19 patients, less ill patients and critical patients. When number of these patients is increasing rapidly, shortage of medical staff, medical beds is creating chaos in the healthcare system. To avoid it, after consultation and medications, some doctors are suggesting home hospitalization for less-ill patients. With wearable devices, it becomes easier for doctors to track the health conditions of those patient.
On the other hand, wearables help nurses to note temperature and other required readings of many critical patients simultaneously by maintaining distance from them. It helps to save healthcare staff from getting infected.
As per the research report of The Insight Partners, the wearable medical devices market is expected to reach US$ 23,310.9 Million in 2025 and it is estimated to grow with a CAGR of 18.1% between 2018 and 2025. The same report state that companies such as Apple Inc., Xiaomi Technology Co., Ltd, Fitbit, Inc., Garmin Corporation, Samsung Electronics Co., Ltd., and Huawei Technologies Co. are dominating the market.
Neha writes articles on sectors including medicine, food, materials, and science & technology. A qualified statistician, she has the ability to observe and analyze the trends in global markets and write compelling articles that help CXOs in decision making. She is a bookworm and loves to read fiction, lifestyle, science and technology. Neha comes with 6 years of experience in content writing and editing that involves blog writing, preparation of study materials and OERs.