Adoption of health monitoring devices will nearly triple by 2020, exceeding 70 million worldwide, up from an estimated 26 million this year, according to Juniper Research.
The report, Worldwide Digital Health: Developed and Emerging Market Opportunities 2016-2020 , forecasts that FDA approval will drive the rise in use of monitoring devices. However, it highlights the need for new entrants to prove that their hardware is able to measure health indicators with the same accuracy as standard medical devices.
Heightened accuracy from the latest iteration of monitoring devices will lead to a fourfold increase in the number of individuals being monitored by 2020. Interoperability with personal smartphone devices will add further value for the patient, according to the report.
Despite the predicted growth, barriers include the lack of viable business models underpinning the operations in many developing markets.
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