Published Date : Mar 25, 2016
Rising demand for remote monitoring, especially for chronically ill patients has pushed the growth of the global wearable medical devices market. Technological advancements and increasing awareness about the importance of monitoring the vital body statistics have further augmented the market growth. Growing prevalence of diabetes has fuelled the need to monitor the blood glucose level as well as other vital signs among the patients. This has boosted the demand for wearable medical devices. Ease of use and interpretation of wearable medical devices, increasing per capita income, and the rise in adoption of wearable medical devices are some of the key factors propelling the growth of the global wearable medical devices market. However, the high cost of these devices will restrain the growth of the market, especially across the emerging economies. The overall market has a huge opportunity to grow with the increasing diabetic population in Asia Pacific.
Wellness Health Benefit to Encourage People to Reach Health Goals
Insurance firm UnitedHealth has tied up with chip manufacturer Qualcomm to offer a wellness health benefit that would link patients and their wearable devices to a plan that offers rewards in form of cash on achieving health goals and specific results. The partnership is being seen as the next step to boost the adoption of wearable medical devices among the masses and encourage people to lead a healthy lifestyle. Through the health plan, an enrolee can earn up to US$1.25 per day for walking 10,000 steps. However, the plan includes frequency and intensity measures. According to Steve Beecy, the vice president of UnitedHealthcare, covered employees, along with their spouses can earn US$4 per day.