The healthcare wearables market will exceed revenues of $10 billion in 2022, according to a new market forecast from ABI Research.
That suggests a considerable rate of growth over the forecast period. ABI Research says healthcare wearables – from clinical use sensors to fitness tracking devices – currently accounts for $6.8 billion of the overall wearables market, which it pegs at $25 billion.
In a report summary, ABI Research suggested that the market’s growth will be driven in part by technological advancements, asserting that “ultra-thin and ultra-soft sensors with software analytics make next-generation wearables smarter and more useful.” Commenting further, ABI Research Senior Analyst Marina Lu highlighted flexible, body-worn sensors such as “electronic tattoos and skin sweat sensors” in particular, calling them “quite an innovation”.
The predictions track somewhat with those of another recent market forecast from Tractica, which predicted that the smart clothing and body sensor market will reach $19 billion by the end of 2022. With the recent news that even Facebook may be delving into biometric wearable devices, it appears that the overall biometric wearables market is poised for expansion.