From 2016 to 2020, the global smart wearable healthcare devices and services market is expected to increase at a compound annual growth rate of more than 18 percent, according to a Technavio report.
Here are three trends driving market growth:
1. A consumer-driven healthcare system. Patients often want mobile healthcare applications to monitor their health, fueling market growth.
2. A growing aging population and prevalence of chronic diseases.
3. New strategic initiatives. Competitors in the market are investing more in research and development to stay ahead of their contenders. Various device providers are teaming up with telecommunication providers to create new products.
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