The global wearable devices market continues to gain momentum and is projected to reach US$4.5 billion by 2020
Innovative IoT devices such as the patented GPS SmartSoles, that are user-friendly, unobtrusive and designed to transmit data offer more efficient care, while reducing costs and stress. Wearable medical devices are “connected” devices, with features such as wireless data transmission, real-time feedback, alerting mechanism, and more. The miniaturization of wireless communication and sensor technology, combined with more power efficiency and greater computation capabilities, all of which GTX Corp has been at the forefront both in development and patent filings, has enabled the shift of clinical monitoring beyond facilities to personal at home caregiving. Wearable medical devices will also become helpful to pharmaceutical companies for conducting efficient clinical trials to gather data remotely, and for insurers to provide outcome-based reimbursement.
In the coming years, this technology is expected to play a critical role in improving healthcare services and GTX Corp along with Gentag Inc., Google Inc., Intel Corporation and Philips Healthcare will be paving the way.
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