Tech Sector: Sleep tracker? Check, Heart Rate Monitor? Check, Alright then, healthcare industry, here we come…
The vicious cycle of recession severely hinders the growth of nations around the globe, as when it hit one country, especially a leading economy; it gets spread in the countries which have trading terms with the victim country. And soon like chain reaction, regardless of business, irrespective of industry, all of them get into the trap of the economic slowdown. The exception is always there, having said that, the phrase is also applicable in case of recession also. If there is any sector, which tend to withstand against force of the recession then it would be Healthcare industry. Yes, that’s true that it affects the health care industry as well, however not as severe as any other industry.
With that being one of many reasons, the ‘Tech’ tide is currently aiming at this industry’s side. Though the silicon industry’s interest in the healthcare sector is nothing new, the direction in which those tech giants are heading at the moment, that leads to the healthcare sector only. The bonding between two sectors got even stronger with the launch of the smart wearables as they have deepened the bond by providing more and more facilities.
Initially the tech devices were available, yet they were highly disease specific and restricted to that particular group of patients only. The approach of those devices was quite curative rather than preventive. The latter one was necessary for growth of such devices, which is gaining momentum now days. So it used to happen that those who were suffering for a particular disease, those patients only used to opt for such devices. Nothing for those health conscious fellows, who would be on their toes, just to stay fit and fine. Gradually smart watches were introduced which paved path for smart wearables for general non-patient users.
Now that the focus has shifted to the general users, with the preventive approach adopted by technological organizations, a recent study has concluded that the smart wearables market will reach upto whopping USD 41 billion in 2020 from USD 2 billion in 2014 with an annual growth rate above 60%. Apart from tech giants, app development companies also gearing up for producing marvelous applications supporting those wearable gadgets. The obstacles are too huge to scale, in front of app development companies such as, creating fabulous UI for the most tiny screen devices in the world.
With the existing players like Jawbone, Abbott Laboratories etc, the search sensation Google has also joined the league. Like the search engine world, Google has also decided to rule the healthcare sector, which is what exactly seeming like as it has inaugurated its own life science department and has brought Thomas Insel the director of the National Institute of Mental Health on the board, to lead that wing. This was only one instance, there are thousands of such efforts technological organizations are making in the same direction, which are yet to hit the surface. Contact App Development Companies for more details on various types of Mobile App Development on any platform or technology.