In 2014, the wearable medical devices market took in around $2.7 billion dollars and is expected to grow in large proportions by the year 2023. Estimates are suggesting the market will reach $10 billion dollars by that year globally.
Although there are numerous devices that are manufactured in this market, the largest growth rate is found in heart rate monitors and many of the devices are used for home health care. Two of the main reasons the wearable medical devices market is expected to grow is because of the latest in innovation and the many people who use these devices. Although some devices can be prescribed by doctors, many people who take their health seriously use them in an effort to better understand and maintain their own bodies. This demographic tends to be tech-savvy, health conscious, and in the higher income brackets. Those people on the lower income side enjoy the same type of products, but typically tend to look for cheaper models.
Also growing in popularity is non-invasive diagnostic devices. These are a type of wearable used in the biosensor market to gather medical information from patients. Examples of this include devices that can monitor and map areas of the body including cardiac monitoring and brain waves. This technology is vital to managing the health of the aging population, and will only become more important as technology continues to improve. The sensors and electrodes that gather this data is one of the most important parts of these diagnostic devices, and is an area where Techprint can assist manufacturers.
Techprint is a custom designer and manufacturer of specialty graphics and printed electronic products. Our capabilities include the ability to design and produce custom printed electrodes and biosensor products, including those in the non-invasive diagnostic wearable medical devices market. TechPrint is able to design and produce the right product for most any device. Feel free to contact us to discuss your needs and learn more how we can help you with your wearable device development.