There is very little doubt that wearable technology is getting more popular every day. A new report by Juniper Research (News - Alert) shows that one area where wearable tech can still make some real strides is in the Digital Health market for mobile phones. Juniper believes that healthcare focused smartphone applications by both Samsung and Apple (News - Alert) are going to be big reasons behind the global healthcare accessory hardware market reaching valuations of more than $3 billion by the end of 2019.
Wearable technology is branching out in a ton of different ways and healthcare is the most likely market to have big-time success. Devices such as blood pressure cuffs, oximeters for diabetes and sleep monitors are going to get bigger and more popular the more high tech they go. Being able to connect to smartphones with these devices is going to make them look cooler and more in demand than they ever have before and that will drive the valuation up big time.
With wearable tech branching out even to areas such as shoes and socks as well as bands and watches, there is quite a bit of overlap. When it comes to mobile health there are still some weaknesses. There are still a number of trials that could go quite a long way toward making sure wearable tech is going to hit the valuation mark Juniper believes it can.
While people buying these new devices will certainly help mobile health devices hit the $3 billion mark, healthcare companies are investing in the market and investing in companies like Epocrates and AirStrip. Juniper believes advanced EHR (Electronic Health Records) will become the glue to create a better and wider digital health ecosystem. Even better for the mobile health and wearable technology market is that there are more regulatory authorities than ever before that are embracing the role of digital health in today’s world.
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