According to a new study published by Global Industry Analysts Inc., (GIA) the Wearable Medical Devices Market will reach $38.9 Billion by 2026 growing at a CAGR of 15.8% over the analysis period.
The global market for Wearable Medical Devices estimated at US$18.1 Billion in the year 2021, will grow through the emergence of smartphones and wireless technology. IoT devices connected to 4G and 5G networks are improving consumers’ quality of life and creating more efficient enterprises.
Many public companies produce novel solutions for a variety of conditions and will benefit from this increased revenue, which is a tide that will lift all boats.
One boat in the space that could see a wave of activity belongs to Wearable Health Solutions, Inc. (OTCMKTS:WHSI). The company is launching its updated 4G wearable medical device solution the iHelp 4G MAX, this year. WHSI works with 15 central monitoring stations and approximately 200 dealers. In the middle of last year, the Company reported some 8,000 end users plus an order book of about 2,000+ potential activations. The Report concluded that WHSI “appears poised to experience unparalleled revenue growth over the next 12 to 24 months following the iHelp MAX 4G launch.”
Retractable Technologies Inc. (NYSE:RVP) stock has seen witnessing high volatility over the past few months with a fall of over 16% over the past month. Moreover, the stock has fallen 13% so far this year. On Wednesday, RVP stock was down 0.99% to $6.01 with more than 178k shares exchanged hands, above its average volume of 194K shares.
iRhythm Technologies Inc. (NASDAQ:IRTC) is another stock in the sector which has been showing consistent buying pressure over the past week. The stock has moved up 20% over the past month. However, the stock has fallen 52% over the past year. The stock is trading above 206% from its 52-week low and 55% away from its 52-week high.
AdaptHealth Corp. (NASDAQ:AHCO) stock is witnessing a bit of selling pressure at higher level. AHCO stock ended lower by 2.20% to $19.12 with more than 791k shares exchanged hands, below its average volume of 892K shares. The stock is trading above 5% from its 52-week low and 54% away from its 52-week high. AdaptHealth Corp., together with its subsidiaries, provides home healthcare equipment, medical supplies, and home and related services in the United States.
Zai Lab Limited (NASDAQ:ZLAB) is another stock in the Wearable Medical Devices sector which has been showing consistent fall. The stock has moved down 29% over the past one month. Moreover, the stock has slumped 49% in the past quarter. The stock is trading above 9% from its 52-week low and 73% away from its 52-week high.
Sanara MedTech Inc. (NASDAQ:SMTI) is another stock in the sector which has been showing consistent selling pressure over the past week. The stock has moved down 11% over the past month. Moreover, the stock has fallen 43% over the past year. The stock is trading above 10% from its 52-week low and 52% away from its 52-week high.
