Wearable Technology Trends to Uplift the Digital Biomarkers Market to $16 Billion by 2028

Digitization has brought about notable enhancements in numerous areas of healthcare, facilitating more convenient and rapid communication across extended distances. The digital biomarkers market on a global scale is primarily influenced by wearable devices, mobile applications, and software that integrates data.

As per the BIS Research report, the global digital biomarkers market was valued at $1.80 billion in 2021 and is expected to reach $16.17 billion by 2028. The market is expected to grow at a CAGR of 36.06% during the forecast period of 2022–2028.

Diverse categories of wearable devices find application in various domains, encompassing fitness tracking, step counting, monitoring vital signs, analyzing sleep patterns, and managing dietary habits.

This blog will broaden the scenario of wearable technology and its crucial role in skyrocketing the digital biomarker market to billions of dollars.

Wearable Technology: A Trendsetter among Digital Biomarkers

Wearable technology is becoming more prevalent in our daily lives. We are increasingly using medical devices that assist in monitoring our health and improving our hearing. These gadgets are electronic devices that can be conveniently worn on the user's body, such as smartwatches that not only tell time but also track our fitness and clothing that incorporates wearable technology.

These wearable devices include consumer-worn electronic goods such as ActiGraph , Fitbit (now part of Google) , Garmin , and 苹果 smartwatches, which are designed to record crucial health and activity data. The ongoing progress in miniaturizing electronic components and advancements in wireless and low-power technologies are driving the continuous expansion of wearable technology.

Recent Trends and Developments in Wearable Technology

OurVision Wearable Device:

OurVision is an affordable wearable device that verbally reads text to users and aids in navigating their environment. This device was created by students from the Institute of Electrical and Electronics Engineering (IEEE) Computational Intelligence Society chapter at Ramaiah Institute of Technology in Bangalore, India, in early July 2023. It utilizes computer vision methods to support individuals with visual impairments. The project received a grant of $4,400 from Engineering Projects in Community Service (EPICS) in IEEE, facilitated by the IEEE Foundation and generous contributors.?

AI-Based Air-Touch Functionality Wearable Device:?

Wearable Devices Ltd ., a technology growth company specializing in touchless sensing wearables powered by artificial intelligence (AI), made an announcement on June 23, 2023, regarding the expansion of its AI-based Air-Touch feature. This extension now includes compatibility with Android devices, specifically designed for the commercial and enterprise markets, also known as the B2B market.

Wearable Devices Ltd. provides its technology to two distinct markets. Firstly, the Mudra Band, which is designed for Apple devices, is now available for pre-order. Secondly, Mudra technology with Air-Touch functionality for Android users allows commercial companies and enterprises to create personalized experiences for its users.?

Samsung's New Wearable Device:?

三星电子 has registered trademarks for its new Galaxy wearable gadgets. The company secured brand names for the Galaxy One, Galaxy Pulse, Galaxy Rhythm, Galaxy Index, Galaxy Insight, and Galaxy Circle in various trademark offices globally in July 2023.

Samsung filed the first batch of these trademark applications in early July 2023. For the brand names Samsung Circle, Samsung Index, and Samsung Insight, the corporation submitted documentation to the U.K. Intellectual Property Office (UKIPO). It later added the Galaxy prefix to these brands and reapplied for trademarks in South Korea.

Wearable Devices with Spatial Gesture Recognition:?

On July 6, 2023, Wearable Devices Ltd. announced the completion of its new bidirectional plugin for Unity, a game engine that supports desktop, mobile, console, virtual reality (VR), and augmented reality (AR) platforms, establishing a live communication channel between the Unity game engine and the Mudra Inspire neural input wristband.

The unique plugin combines touchless interaction and control on Unity-supported platforms, broadening software development capabilities and allowing commercial gaming businesses and corporations to create increasingly customized user experiences.

The Road Ahead

The embrace of sensors and wearables in the healthcare industry demonstrates the varied usage among consumers. Sensors and wearables are increasingly changing the industry's notion of accuracy across three critical dimensions, i.e., volume, practicability, and precision.?

Interested to know more about the developing technologies in your industry vertical? Get the latest market studies and insights from BIS Research. Connect with us at hello@bisresearch.com to learn and understand more.?