The market for wearable medical devices over the next five years will reach more than 100 million units annually driven by consumer and healthcare adoption, according to ABI Research.
ABI Research’s report, “Wireless Health and Fitness,” assesses the market opportunity for wireless enabled devices and communications within the home and consumer market. Analysis and forecasts are split across three broad categories: sports, fitness and wellbeing; home monitoring; and remote patient monitoring.
Enabled with GPS technology, devices ranging from heart rate monitors for measuring an individual’s performance during sports to wearable blood glucose meters, will all provide greater detail in tracking, monitoring and care – through applications and their connections provided by smartphones offering proprietary secure access portals.
At the forefront of this expansion are product innovations like the GPS Smart Shoe conceived of by GTX Corp and soon to be for sale through Aetrex. Servicing the ballooning demand by the millions of dementia victim caregivers, the GPS Shoe, patented by GTX Corp offers life-saving tracking capabilities via a 2-way rechargeable GPS tracking device discretely embedded in a walking shoe. The monthly service will allow a host of customizable tracking options allowing for both peace of mind and a higher quality of life for the victims and their caregivers.