Wearable devices market expected to reach $612 billion by 2024

Wearable devices market expected to reach $612 billion by 2024The global market for connected health and wellness devices is predicted to reach $612 billion in less than 10 years.

A recently released report by Grand View Research, Inc. states that as the demand for integrated health technology continues, the market will reach new heights by 2024, according to MarketWatch.

The expectation that consumers will continue to move toward healthier livelihoods and adopt wearable healthcare devices is not the only factor driving the growth. A rise in the rate of lifestyle-associated diseases that call for around-the-clock monitoring through connected healthcare devices will also attribute to the expansion over the next eight years, noted the source.

As part of the growing effort to improve quality of care, access to platforms enabling patients to view their own health records and related medical data and communicate with doctors is being increased. In terms of market growth, these advanced products, including adapters and remote sensors, are contributing factors.

The healthcare industry as a whole is anticipated to become the largest sector in the U.S. in less than three years, reported Becker’s Spine Review. In July alone, 43,000 jobs were added, outpacing all other industries.