A new study has estimated that the adoption of health monitoring devices will nearly treble by 2020, exceeding 70 million worldwide, up from an estimated 26 million this year.
The Juniper Research study, Worldwide Digital Health: Developed and Emerging Market Opportunities 2016-2020, forecasts that the use of monitoring devices is set to witness a swift rise. However, it highlights the need for new entrants to prove that their hardware is able to measure health indicators with the same accuracy as standard medical devices.
Furthermore, it claims that the Big Data collected by such monitoring devices presents a significant medium term opportunity for platforms such as IBM Watson Health Cloud. These already offer greater insight into health information and enable more efficient decision making through data analytics.