$GTCH With ongoing developments in areas such as Internet of things (IoT) and Artificial Intelligence (AI), and given the backdrop of the COVID-19 pandemic, the demand for mobile or wearable medical devices is, understandably, on the rise. In fact, research published by Coherent Market Insights finds that the global wearable medical devices market, which was valued at approximately $29.83 billion USD in 2020, is projected to reach $50.89 billion by the end of 2027. This category encompasses wearable therapeutic devices, wearable monitoring and diagnostic devices, and health and fitness devices. And it's not only, or even mainly, COVID-19 driving demand. According to the report's summary, demand for wearable medical devices is expected to be driven by a "high prevalence of chronic diseases," and an "increasing geriatric population."
