Initially, the adoption of wearable healthcare devices was confined to developed countries. However, the decline in the average selling price (ASP) of these devices has positively influenced price-sensitive consumers in developing countries. As a result, vendors are shifting their focus to developing countries to boost their revenue and expand their consumer base. The decline in the ASP of smart wearables has increased their adoption and led to the generation of large volumes of digital health data. The increased popularity of smart wearable devices to monitor patient health is an emerging trend that will propel the growth of the market during the forecast period.
Growing popularity of telemedicine
Telemedicine is the delivery of long-distance healthcare with the help of telecommunications technology. For instance, Google's Helpouts is a telemedicine service that connects users, experts, and medical professionals online. More and more people are self-diagnosing with the help of telemedicine.
“Telemedicine technology has substantial potential in rural areas and developing economies such as Africa that experience a shortage of experienced physicians. Telemedicine helps in extended therapy, in which patients and therapists communicate remotely whenever a diagnosis or follow-up is required. The need for consumers to visit hospitals or clinics is thereby reduced,” says Amber. Telemedicine helps manage chronic health conditions such as type 2 diabetes and heart diseases with remote monitoring and virtual visits. So, healthcare organizations have increased the adoption of telemedicine to harness the full potential of digital health technology.
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