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Smart Wearable Medical Devices Market Is Expected To Reach USD 37.4 Billion by 2030, Grow at a CAGR Of 13.1% during Forecast Period 2023 To 2030 | Data By Contrive Datum Insights Pvt Ltd.

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Farmington, March 17, 2023 (GLOBE NEWSWIRE) — The Global Smart Wearable Medical Devices Market size was valued at USD 13.8 Billion in 2021 and is projected to reach USD 37.4 Billion by 2030, growing at a CAGR of 13.1% from 2022 to 2030. Smart wearable devices will soon become more popular because they have a lot of features, can be used for telemedicine, and can be used all over the house. Wearable medical devices are in high demand because so many people have long-term illnesses like diabetes and heart problems. Continuous monitoring devices are used more and more as the number of people with these diseases goes up. In recent years, product sales have also gone up because of changes in technology that make people more mobile and connected. This has given the healthcare industry new ways to deal with patients and diseases. Smart wearable technologies will grow the market because they can improve the quality of patient care while cutting costs.

During the pandemic, the market for smart medical devices that you can wear has helped in some ways. As more innovative technologies are used to meet customer needs, the industry is expected to grow at a rate that has never been seen before. Smart wearable technology has made it easier for both patients and health care workers to keep track of their health from far away. As COVID-19 goes on, people are becoming more interested in health care, which is driving up the demand for daily health tracking devices that can be used at home. Also, at a time when patients can’t move around much and the risk of getting an infection in the facility is high, these devices have given chronically ill patients a good way to be monitored in real time.

Request Sample Copy of Report “Smart Wearable Medical Devices Market Size, Share & Trends Estimation Report By Type (Blood Pressure Monitor, Heart Detector, Blood Glucose Meter, Pulse Monitor, Others), By Application (Children, Adults, The Old, Other), By Region, And Segment Forecasts, 2023 – 2030”, published by Contrive Datum Insights.

Industry Developments:

  • In March 2022, multinational pharmaceutical company Novo Nordisk announced that two connected insulin pens, NovoPen 6 and NovoPen Echo Plus, are now available by prescription in the UK for diabetics treated with Novo Nordisk insulin.
  • In January 2022, Insulet, an innovative medical device company dedicated to simplifying the lives of people with diabetes, announced that its Omnipod 5 insulin pump has received FDA clearance for use in people with diabetes. The Omnipod 5 is a patch-like device that adjusts the daily dose based on changes in the wearer’s blood sugar levels.

Market Dynamics:

Drivers:

Demand is growing for monitoring patients from a distance. Wearable smart medical devices can make it possible to keep an eye on a patient from afar. This lets doctors and nurses check on the health of their patients outside of the typical clinic setting.

More and more people are getting chronic diseases. Diabetes and heart disease, for example, are on the rise. This is making people want smart medical devices that can be worn and help with these conditions.

Changes in technology: The market for smart wearable medical devices is likely to be driven by new technologies like artificial intelligence and machine learning, which will lead to new applications and use cases.

Favorable government initiatives: Governments all over the world are starting programmes to encourage the use of digital health technologies, which is expected to drive the growth of the smart wearable medical devices market.

Restraints:

Smart wearable medical devices can be expensive, which could make them less popular, especially in developing countries.

Limited reimbursement policies: It can be hard for patients to get wearable medical devices because reimbursement policies are limited. This can slow the spread of these technologies.

Concerns about data privacy: The use of smart wearable medical devices raises questions about data privacy and security, which could slow down their use.

Challenges:

Interoperability problems: It can be hard to get different smart wearable medical devices and health care systems to talk to each other.

Regulatory problems: The regulatory environment for smart wearable medical devices is complicated and changes quickly, which can cause problems for manufacturers and healthcare providers.

Battery life: Many smart wearable medical devices have short battery lives, which can be a problem, especially for devices that need to be worn all the time.

Regional Outlook:

The market for smart wearable medical devices in North America is expected to reach $8.92 billion by 2030, growing at a compound annual growth rate (CAGR) of 18.7% during the period of the forecast.

People with chronic diseases, good government programmes, and a well-developed healthcare system are some of the reasons why this region is expected to be a leading market.

The Europe region is also expected to grow a lot, thanks to things like the growing number of older people and the growing demand for remote patient monitoring.

Due to a large population, a rise in the number of people with chronic diseases, and higher healthcare costs, the Asia-Pacific region is expected to be a fast-growing market.

The Middle East and Africa are expected to grow slowly because more people are using digital health technologies and more attention is being paid to preventive care.

Latin America is also expected to have slow growth, which will be caused by things like rising healthcare costs and more people getting chronic diseases.

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Scope of Report:

Report Attributes Details
Growth Rate CAGR of 13.1% from 2023 to 2030.
Revenue Forecast by 2030                        USD 37.4 Billion
By Type Blood Pressure Monitor, Heart Detector, Blood Glucose Meter, Pulse Monitor, Others
By Application Children, Adults, The Old, Other
By Companies  Google, IHealth Labs, Telefonica, Samsung Electronics, Cyberdyne, Sprint, IRhythm Technologies, Vendors to Watch Out, T-Mobile US, Interaxon, Emerging Vendors, Epson America, Lark, Orpyx Medical Technologies, Biosensics, Withings, Proteus Digital Health, Evena Medical, Cambridge Temperature Concepts, Sotera Wireless, Qardio
Regions and Countries Covered
  • North America: (US, Canada, Mexico, Rest of North America)
  • Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
  • Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
  • The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
  • Latin America(Brazil, Argentina, Rest of Latin America)
  • Rest Of the World
Base Year  2022
Historical Year  2017 to 2022
Forecast Year  2023 to 2030

Key Segments Covered:

Top Market Players:
Google, IHealth Labs, Telefonica, Samsung Electronics, Cyberdyne, Sprint, IRhythm Technologies, Vendors to Watch Out, T-Mobile US, Interaxon, Emerging Vendors, Epson America, Lark, Orpyx Medical Technologies, Biosensics, Withings, Proteus Digital Health, Evena Medical, Cambridge Temperature Concepts, Sotera Wireless, Qardio, and others.

By Type

  • Blood Pressure Monitor
  • Heart Detector
  • Blood Glucose Meter
  • Pulse Monitor
  • Others

By Application

  • Children
  • Adults
  • The Old
  • Others

Regions and Countries Covered

  • North America: (US, Canada, Mexico, Rest of North America)
  • Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
  • Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
  • The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
  • Latin America: (Brazil, Argentina, Rest of Latin America)
  • Rest Of the World

Check out more related studies published by Contrive Datum Insights:

  • Medical Supply Delivery Service Market – The global Medical Supply Delivery Service Market size was USD 50.33 Billion in 2022 and is expected to reach USD 97.5 Billion by 2030, with a CAGR of 7.6% from 2022 to 2030.
  • Medical Devices Market – The Global Medical Devices Market Size Was Valued At USD 488.98 Billion In 2021. The Market Is Projected To Grow From USD 495.46 Billion In 2022 To USD 718.92 Billion By 2030, Exhibiting A CAGR Of 5.5% During The Forecast Period. 
  • Contact Lenses Market – The Global Contact Lenses Market Size Was Valued At USD 9.48 Billion In 2021. The Market Is Projected To Grow From USD 9.94 Billion In 2022 To USD 14.80 Billion By 2030, Exhibiting A CAGR Of 5.9% During The Forecast Period.

Customization of the Report: The report can be customized as per client needs or requirements.For any queries, you can contact us on [email protected] or +1 215-297-4078. Our sales executives will be happy to understand your needs and provide you with the most suitable reports.

About Us:
Contrive Datum Insights (CDI) is a global delivery partner of market intelligence and consulting services to officials at various sectors such as investment, information technology, telecommunication, consumer technology, and manufacturing markets. CDI assists investment communities, business executives, and IT professionals to undertake statistics-based accurate decisions on technology purchases and advance strong growth tactics to sustain market competitiveness. Comprising of a team size of more than 100 analysts and cumulative market experience of more than 200 years, Contrive Datum Insights guarantees the delivery of industry knowledge combined with global and country-level expertise.

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Pearson augments nursing content with generative AI study tools to improve nursing education and address shortages

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HOBOKEN, N.J., May 17, 2024 /PRNewswire/ — Pearson (FTSE: PSON.L), the world’s leading learning company, today announced the integration of AI study tools into its Nursing: A Concept-Based Approach to Learning series, the only nursing concepts curriculum built from the ground up as a comprehensive, cohesive learning system.

Pearson’s AI study tools combine the power of generative AI technology with trusted Pearson content to provide scaffolded, guided help when students are stuck on homework problems, and personalized explanations, summaries, and practice problems for more efficient studying.
“Integrating AI study tools into our concept-based nursing series enhances the learning experience, giving nursing students and nurse educators the resources they need to efficiently study and master course concepts,” said Anne Fahlgren, GM of Pearson’s professional portfolio. “This technology will help more nursing candidates prepare for and enter the workforce, while also giving nurse educators the means to scale their teaching further, addressing major challenges in nursing education and society.”
The AI study tools beta will be available both in Pearson+ eTextbook and the accompanying MyLab Nursing course in time for Fall 2024. MyLab is an interactive teaching and learning platform, backed by content from Pearson authors. The platform, with integrated eTextbook, allows instructors to design their course, assign homework and assessments, and monitor student progress in real time.
The US is experiencing shortages of nurses and nurse educators. The National Academy of Medicine’s 2021 report on The Future of Nursing: 2020-2030 notes that, in order to provide sufficient care for an aging population over the next decade, a substantial increase in the nursing workforce will be needed that can practice “in community-based settings with diverse populations that face a variety of lived experiences.” The NAM’s report also references hundreds of nursing faculty position vacancies that have contributed to tens of thousands of qualified applicants being turned away from nursing school admission due to the inability to adequately meet student demand.
Concept-based nursing curriculum is designed to focus on key concepts emphasizing a holistic understanding of nursing principles that can be applied across different patient populations, healthcare settings, and situations. This approach strengthens clinical reasoning skills in the course of patient care. Incorporating generative AI tools into Pearson’s concept-based nursing content supports nurse educators in scaling their teaching and students’ ability to study more efficiently.
Dr. Michelle Aebersold, University of Michigan School of Nursing Clinical Professor and contributor to Nursing: A Concept-Based Approach to Learning, said “Technological advancements like generative AI are transforming the nursing profession. The ability to adapt in a rapidly changing environment is a critical healthcare skill, whether it’s in the course of patient care or in preparing our future nurses for the workforce. The ability of the AI study tools to provide a more user-centered, customized experience is a huge benefit for our students. I’m glad they will have access to Pearson’s AI tools that accommodate the variety of ways students learn and provide personalized support in the moment students need it most. This is the future of individualized learning.”
A Fall 2023 survey of students using Pearson’s AI study tools beta showed strong levels of engagement, with 75% of respondents saying the tools were helpful or very helpful to their studies.
The inclusion of generative AI study tools further solidifies Pearson’s dedication to providing the most comprehensive and effective learning and teaching resources for nursing students and nurse educators across the US. Pearson’s AI study tools are already available in more than 30 Pearson Mastering titles and are set to be integrated into more than 40 Pearson+ eTextbooks and MyLab and Mastering titles across math, science, business, and nursing for August of 2024.
Pearson is committed to investing in the responsible application of AI to advance product innovation and enhance the learning experience to educate, certify, and credential students and the workforce.
Pearson product experts are available to demo the AI study tools for members of the media. Please request demonstrations with the media contact below.
About Pearson
At Pearson, our purpose is simple: to add life to a lifetime of learning. We believe that every learning opportunity is a chance for a personal breakthrough. That’s why our c. 18,000 Pearson employees are committed to creating vibrant and enriching learning experiences designed for real-life impact. We are the world’s leading learning company, serving customers in nearly 200 countries with digital content, assessments, qualifications, and data. For us, learning isn’t just what we do. It’s who we are. Visit us at pearsonplc.com.
Media [email protected]
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Brainomix Achieves Breakthrough with FDA Clearance of e-Lung AI Software

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Established market leader in stroke AI imaging receives its first FDA clearance in the lung imaging space.With this expanded foundation of AI-driven healthcare solutions, the Oxford-based company remains committed to driving innovation and delivering impactful advancements in imaging biomarkers.OXFORD, England, and CHICAGO, May 17, 2024 /PRNewswire/ — Brainomix, a pioneer in artificial intelligence (AI) imaging solutions to enable precision medicine, is proud to announce the FDA clearance of its latest product, Brainomix 360 e-Lung. Brainomix’s entry into the lung imaging space follows a series of successful clearances and widespread clinical adoption of its Brainomix 360 Stroke platform in both the US and Europe.

The clearance of e-Lung marks a significant milestone in Brainomix’s journey to expand its footprint in medical imaging beyond stroke-related applications and represents a notable step forward in the quest for advanced lung imaging solutions. The company, with its rich academic heritage and record of scientific excellence, will expand its research collaborations in the pulmonology space to yield new insights to inform future iterations of e-Lung and chart a path towards continual improvements for the lung imaging technology.
Dr Deji Adegunsoye, Assistant Professor of Medicine and Scientific Director of the Interstitial Lung Disease Program at University of Chicago Medicine, said: “This is an exciting step for Brainomix, who have a demonstrated track record of developing novel AI-based solutions in stroke and are now applying that expertise to develop innovative tools in the lung space. The preliminary data for e-Lung is impressive and would indicate that we have a promising tool that could help to expedite healthcare delivery and improve clinically meaningful outcomes for patients with lung disease.”
Brainomix recently announced the publication of a new study1 in the prestigious peer-reviewed journal American Journal of Respiratory and Critical Care Medicine (AJRCCM), resulting from a research collaboration with AstraZeneca. The results showed that Brainomix’s proprietary lung imaging biomarkers, which include the weighted reticulovascular score (WRVS), stratified patients at risk of Idiopathic Pulmonary Fibrosis (IPF) progression, outperforming standard measures.
Dr Michalis Papadakis, CEO and Co-Founder of Brainomix, said: “We are harnessing our expertise in AI-powered imaging to develop novel biomarkers in other disease indications where AI can support imaging-based diagnostic and treatment decisions.
“This e-Lung FDA clearance reflects our focus on developing innovative solutions that empower healthcare professionals with cutting-edge tools for sophisticated disease evaluation, enhancing access to treatments that can ultimately work to improve patient outcomes.”
Brainomix will be presenting its latest e-Lung data at the American Thoracic Society (ATS) annual conference in San Diego May 17th – 22nd, including results from research collaborations with Heidelberg University and with Seattle-based Avalyn Pharma.
Am. J. Respir. Crit. Care Med.: 2024 Feb 16 – e-Lung CT Biomarker Stratifies Patients at Risk of IPF Progression in a 52-Week Clinical Trialhttps://www.atsjournals.org/doi/abs/10.1164/rccm.202312-2274LEAbout Brainomix
Brainomix specializes in the creation of AI-powered software solutions to enable precision medicine for better treatment decisions in stroke and lung fibrosis. With origins as a spin-out from the University of Oxford, Brainomix is an expanding commercial-stage company with offices in the UK, Ireland and the USA, and operations in more than 30 countries. A private company, backed by leading healthtech investors, Brainomix has innovated award-winning imaging biomarkers and software solutions that have been clinically adopted in hundreds of hospitals worldwide. Its first product, the Brainomix 360 stroke platform, provides clinicians with the most comprehensive stroke imaging solution, driving increased treatment rates and improving functional independence for patients.
To learn more about Brainomix and its technology visit www.brainomix.com, and follow us on Twitter, LinkedIn and Facebook.
Contacts
Jeff Wyrtzen, Chief Marketing & Business Development [email protected] +44 (0)7927 164210T +44 (0)1865 582730
Media enquiries
Charles ConsultantsSue [email protected] M +44 (0)7968 726585
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CUBE acquires global regulatory intelligence businesses from Thomson Reuters

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LONDON, May 17, 2024 /PRNewswire/ — CUBE, a global leader in Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM), announces today its acquisition of the Thomson Reuters Regulatory Intelligence and Oden products and businesses.

The acquisition of these global businesses represents a major step forward in CUBE’s growth plans. It will deliver significant scale across many of the world’s leading and systemically important financial institutions. CUBE’s existing global customer base will be expanded to total approximately 1,000 customers in banking, insurance, asset and investment management, payments and adjacent regulated industries.
CUBE’s global employees will expand to 600, of which close to 250 are highly qualified regulatory subject matter experts, legal and compliance professionals.
Ben Richmond, founder and CEO of CUBE said: “Thomson Reuters is known to be the biggest and best in the industry for providing regulatory expert analysis and subject matter expertise, alongside world-leading journalism and news. The combination of CUBE’s purpose-built AI, with the years of content curated by Thomson Reuters Regulatory Intelligence and Oden expert analysts, will accelerate innovation. Together, we will deliver regulatory transformation capabilities for our global customers that could only have been imagined before.”
Richmond continues: “This combination will provide tremendous scale and depth across CUBE’s regulatory content and technology. It is a significant step toward creating an industry-defining regulatory compliance and risk platform that will benefit all customers and elevate the industry as a whole.”
Through this acquisition, CUBE will provide an expanded and comprehensive selection of specialized regulatory intelligence and regulatory change services, committed to excellence, quality, and highly contextualised and meaningful regulatory content for customers. By combining cutting-edge technology and subject matter expertise at scale CUBE will set a new bar for the industry in regulatory automation and content.
Chris Maguire, General Manager, Risk and Fraud, Corporates, Thomson Reuters said: “It was clear to us that CUBE had established itself as a leading regulatory intelligence provider for global enterprise clients in the financial services and insurance sectors. We wanted to ensure our customers and employees could work with an organisation that would continue to innovate and significantly invest in solutions like Thomson Reuters Regulatory Intelligence and Oden. We are working tirelessly to ensure a seamless and value-enhancing transition for customers and employees, and we are looking forward to working with the CUBE team during this transition.” 
Christopher Fielding, Hg, said: “We’re delighted to further extend our market reach, bringing in two high quality and complementary global businesses to the CUBE platform.”
Thomas Martin, Hg, added: “We see these acquisitions as enabling further innovation in the regulatory intelligence and change management sector, leading to strengthened demand for these quality solutions across the globe.”
The terms of the transaction will not be disclosed.
About CUBE
CUBE provides a highly comprehensive and robust source of classified, and meaningful AI-driven regulatory data to power its Automated Regulatory Intelligence (ARI) and Regulatory Change Management (RCM) solutions. CUBE’s purpose-built regulatory technology including its AI engine (RegBrain) and software platform (RegPlatform) tracks, analyses, and monitors laws, rules, and regulations in every country and in every published language to create an always up-to-date regulatory footprint that transforms visibility and compliance capability for customers across the globe.
With operations across Europe, North America, Canada, Asia, and Australia, CUBE serves a diverse and global base of customers and partners including the largest financial institutions in the world who leverage CUBE’s platform to streamline their complex regulatory intelligence and change management processes.
Following the strategic partnership with Hg in March 2024, CUBE announced the acquisition of US-based Reg-Room in May 2024.
About Hg
Hg supports the building of sector-leading enterprises that supply businesses with critical software applications or workflow services, delivering a more automated workplace for their customers.
This industry is characterised by digitisation trends that are in early stages of adoption and are set to transform the workplace for professionals over decades to come. Hg’s support combines deep end-market knowledge with world class operational resources, together providing compelling support to entrepreneurial leaders looking to scale their business – businesses that are well invested, enduring and serve their customers well.
With a vast European network and strong presence across North America, Hg’s 400 employees and around $70 billion in funds under management support a portfolio of around 50 businesses, worth over $140 billion aggregate enterprise value, with over 110,000 employees, consistently growing revenues at more than 20%.
About Regulatory Intelligence
Regulatory Intelligence is a proactive, connected, and comprehensive solution that tracks and analyses regulatory changes within ~2,000 regulatory bodies and rulebooks for more than 20 countries. It enables banking, financial services, and insurance (BFSI) sectors to manage exposure to operational, regulatory, and compliance risk.
About Oden
Oden State Rules and Regulations (SR&R), Oden Policy Terminator/Sentry PT, and OdenTrack provide repositories and automated solutions for complying with state rules and regulations on the provisioning of Personal and Business Insurance in the US.

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