Medical wearables have come a long way from the traditional fitness trackers and heart rate monitors that first flooded the market.
From providing users with general health information such as blood pressure, heart rate, body temperature, and step count, wearables are now equipped with Electrocardiogram (ECG) sensors and further advanced functions such as stroke prevention, physiotherapy, smoking cessation programs and diabetes management.
Recent medical wearables have also shifted focus from devices that are meant for monitoring and diagnosing to devices that are capable of providing treatment.
Examples include insulin pumps and continuous glucose monitoring for treating diabetes and devices for the treatment of hand tremors in patients suffering from Parkinson’s disease and essential tremor disorder.
Worldwide, the number of non-communicable diseases (NCD) continues to be on the rise.
According to the World Health Organization (WHO), NCD is accountable for a staggering 74 per cent of all deaths worldwide.
With large numbers of the population being diagnosed with chronic diseases, wearables are able to benefit patients by providing instant health monitoring of vital statistics, early detection of disease or risk of a major health event and reduced hospital visits especially for patients in remote locations.
Patient benefits also translate into cost savings and reduced burden caused by NCD’s on the healthcare sector.
The medical wearable market is large and innovation within the field is developing rapidly.
As such, the presence of strong intellectual property laws will encourage innovators to put forth quality, solution based medical wearables that empower individuals to manage chronic diseases through continuous monitoring and promoting proactive health interventions.
Strong intellectual property protection is also necessary for innovators to protect themselves from increasing infringement and counterfeit products.
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