The market for wearable medical devices is projected to grow at a CAGR of 25.78% over the forecast period, i.e., 2020-2027. In 2018, the market captured a size of USD 8,292.60 million which is estimated to significantly increase by the end of 2027. Wearable medical devices are devices used for determining the health status of the patients for various medical purposes.

Rising Applications of Wearable Medical Devices to Boost the Market Growth

According to statistics by the UN, the population aged 60 and above is growing at a faster rate than other age groups. By 2050, the number of elderly individuals is estimated to increase up to billion people.

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