The worldwide market for wearable devices grew 82.3% in the fourth quarter of 2019 (4Q19), reaching a new high of 118.9 million devices shipped.
The firm's report has found that of the top 50 medical apps by monthly active users (MAU), none were conceived and built by doctors.
Worldwide wearables shipments surge 94.6% in the quarter led by the hearables market.
Wearables have the greatest potential in healthcare to address spiraling healthcare costs, aging populations, and the burden of chronic disease.
However, there are many barriers that must be overcome before widespread adoption including cost, reimbursement, data quality and lack of clinical evidence.
The study, conducted by Olive AI, explored how hospital leaders aim to drive efficiency and reduce costs through investments in non-clinical technologies.
The top VC deals included Tencent Trusted Doctors ($250M), Collective Health ($205M), Tempus ($200M), Doctolib ($170M), and Health Catalyst ($100M).
A deal slump that started in Q3 of last year, has now increased for the second quarter in a row.
The Cupertino-based company has a few key advantages over its technology rivals, including privacy and the huge base of iPhone and Apple Watch users.
Factors driving this growth include growing telecommunications networks, increase in the number of smartphone users, and integration of healthcare and IT.