Wearable technology serves the healthcare business in a variety of ways. Wearable medical gadgets have shown value since their introduction, from more precise diagnosis to improved patient-physician interaction. Fitness, remote patient monitoring, and customised medicine will be major development areas in several Western European countries due to a greater emphasis on health and wellbeing and a growing senior population. Furthermore, the introduction of new therapeutic applications will substantially speed up growth.
Physicians can track, record, and evaluate patients' acute or chronic diseases using wearable medical technology when they are away from a hospital or clinic. They make it possible for the practitioner to comprehend the patient's illness condition in real-time and adopt preventative clinical measures. Presently, Western European countries have been using these devices on a huge scale owing to the large patient pool and increasing incidences of diabetes and cardiovascular diseases.
Utilising wearable medical devices might enhance the treatment of chronic illnesses by monitoring vital risk factors, including blood pressure, glucose, and other parameters. For end-users and hospitals, wearable medical devices provide several advantages, including lower healthcare costs, shorter hospital stays, and fewer doctor visits, among others. Additionally, this can aid in lowering the expense of treating chronic illnesses. Thus, these devices are expected to show growth in the coming years. In this article, we discuss how these devices are effective in measuring regular blood sugar levels and also what are the growing R&D measures in Western Europe for these devices.
Continuous Glucose Monitoring (CGM) systems to track glucose levels
The IDF estimates that the total cost of diabetes among people in Western Europe aged 20 to 79 was US$ 126 billion in 2018 and will rise to US$ 178 billion by 2040. This prompted several researchers and makers of medical equipment to look at wearable technology to manage the complications of diabetes. Devices like continuous glucose monitoring (CGM) systems are examples of wearable technology for diabetics that can make controlling blood sugar considerably simpler and more effective. As technology has advanced, more patients with type 2 diabetes are using these medications that were originally designed for those with type 1 diabetes.
A person may continuously monitor their blood glucose levels thanks to CGM devices. A CGM is a small monitoring and transmission device that measures blood sugar in real-time, often every five minutes, using an implanted or a stick-on (attached to the skin) sensor. Continuous blood sugar monitoring allows for more precise and efficient insulin modulation and, as a result, the preservation of healthy blood sugar levels.
As per Future Market Insights, the market for CGM wearables devices is expected to garner a CAGR of 13 per cent from 2023 to 2033 owing to the rising incidence of sensors and durables. To help with prompt blood glucose control, the majority of real-time CGMs may provide alerts to parents, patients, or carers during actual or upcoming glycemic encounters. The CGM market in Western European nations is anticipated to have stable expansion over the next 10 years as a result of this aspect and the fact that these devices are becoming increasingly affordable with the introduction of new technology, such as mobile phone integration.
Numerous studies are still being conducted in this industry, and the leading companies are concentrating on creating new products in Western Europe. For instance, the Dexcom G7 CGM system received a CE Mark (Conformité Européenne) in March 2022, indicating that it is authorised for use in Europeans with diabetes who are two years old or older, including pregnant women.
Insulin pumps to inject insulin at regular intervals
An insulin pump is a wearable medical device used to provide insulin in the management of diabetes (also referred to as continuous subcutaneous insulin treatment). Delivering consistent doses of continuous infusion insulin is made feasible by these insulin pumps. Compared to many daily injections, this is anticipated to produce long-term cost savings as well as effective and quick readings of lower glucose levels.
Different insulin pumps are offered in Western Europe. Traditional insulin pumps are connected to the body via tubing as well as an infusion set and consist of an insulin reservoir (or containers) and a pumping motor. Other insulin patch pumps feature a reservoir, a pumping system, and an infusion set enclosed in a tiny casing and are worn in direct contact with the body. Patch pumps may be programmed to administer insulin from the patch and are remotely controlled by a different device. The majority of insurance providers in Europe provide varying out-of-pocket costs for insulin pump treatment.
When paired with CGM monitors and sophisticated algorithms, the technology used in insulin pumps will anticipate low blood sugar levels and halt insulin supply. Long-term technical advancements in the market for insulin pumps are probably going to lead to better advancements. Market participants are creating a variety of sensors to obtain precise information on blood glucose levels. For example, Medtronic received European authorisation for the Guardian 4 sensor in May 2021. To provide real-time glucose monitoring in addition to insulin tracking, the Guardian 4 sensor may be used as a stand-alone glucose monitor or incorporated into Medtronic's insulin pumps.
Additionally, in a few European nations in April 2021, Medtronic released an infusion set for diabetes. The first set of insulin delivery devices that could be retained for at least seven days was the prolonged infusion set. Such developments are expected to boost the sales of wearable medical devices throughout the nations of Western Europe.
Wearable ECG devices: A new consideration for cardiologists
Currently, users may choose from a wide selection of digital ECG equipment. Chest straps, wearable patches, as well as other fitness trackers frequently come equipped with single-lead ECG. Numerous of these items also integrate with applications that enable the storage of ECG tracings and their remote sharing with medical professionals.
Other wearables, like patches, cling to the skin, remain wireless, and are often well accepted from the standpoint of the patient. Some patches allow for continuous monitoring lasting up to 30 days, gathering a lot of data that cardiologists may analyse. Customers are drawn to these gadgets because they are simple to use, reasonably priced, and provide information on a person's cardiovascular health. The European Medicines Agency (EMA) has not, however, approved all wearable technology. Yet most have shown to be as reliable and accurate as other rhythm-monitoring tools like the conventional 12-lead ECG.
To receive accurate readings, cardiologists are increasingly pressuring their patients to utilise these smartwatches. The ECG feature, which detects cardiac activity to look for abnormalities, is one of the most important health aspects of smartwatches today. The benefit of outfitting smartwatches with comparable hardware is that the owner may do an electrocardiogram whenever they want and present the doctor with the results. For example, the Apple Watch (Series 4, 5, and 6) has an EMA-cleared ECG app that records 30-second EKG segments and uses the user's smartphone to assess normal rhythm as well as AF.
Another smartwatch-style gadget with FDA approval for AF detection is the Fitbit Sense. The FDA-approved ECG monitoring feature on the Samsung Galaxy Watch3 and Galaxy Watch Active2 also provides AF screening. Smartwatches commonly monitor ECG data along with other physiologic markers using integrated connection technology and applications. They also have more efficient data transmission and storing capabilities. Such smartwatch with ECG integration helps the manufacturers of wearable ECG medical devices expand.
Conclusion
One of the most important and rapidly expanding markets over the coming 10 years is expected to be the wearable medical device industry. Wearable healthcare technology can drastically reduce healthcare costs while also upending several adjacent businesses.
Transducers as well as target receptors are the basic components of wearable medical equipment, which is worn on the body or clothes. The purpose of wearable technology is to monitor bodily changes and offer real-time information, assisting medical professionals in understanding these changes. The use of smart and wearable technologies in the healthcare industry is not a new idea. Diabetes patients frequently use such glucose monitors, and patients with implanted devices such as pacemakers, insulin pumps, and defibrillators are given life support.
With the advancement of Bluetooth and other communication modules in recent years, wearable medical devices have made data display and transmission possible. Particularly in recent years, wearable technology has made major strides that have streamlined treatment processes. Additionally, the danger of infections has been reduced because of recent developments. Such developments can be expected in the future from the global wearable medical devices market in the coming years.
Sabyasachi Ghosh is the Associate Vice President, Healthcare, Medical Devices & Pharmaceuticals at Future Market Insights
