Market players changing the healthcare wearable devices market

Practice Management

A Transparency Market found the wearable devices market will likely grow at a compound annual growth rate of 14.2 percent through 2020, according to Today's Medical Developments. Dominant market players include Biotricity, Abbott Laboratories, Apple, Alphabet and Business Machines Corp.

Focused on biometric monitoring solutions, Biotricity plans to introduce Bioflux and Biolife by the end of 2016. FDA-approved Bioflux offers an ECG monitoring device and software that allows for remote mobile cardiac telemetry diagnostic monitoring for up to 30 consecutive days. Biolife encourages healthy living by tracking ECG, respiration rate, calories, temperature and physical activity.

 

Abbott Laboratories develops diagnostic products and medical devices. Joel Goldsmith, an Abbott senior director of new product innovation, said of the company: "A lot of what we do looks more similar to a mobile app company than a traditional medical device company."

 

Apple, Alphabet and Business Machines Corp. are all integrating medical devices and advanced mobile technology. Apple has plans for a wearable health device that can pose as a ring or watch, or some other fashion statement.

 

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