This year, it is expected to exceed $742M, growing at an average CAGR of 50% annually.
The data reveals multitasking during appointments, including checking social media and playing video games.
The growth comes after regulators responded to COVID-19 by loosening rules that had previously hindered the work of digital therapeutics developers.
With 24 mega-deals so far, 2020 will be the largest funding year ever for digital health...
It brings 2020's year-to-date funding total to around $16B, more than any previous full year on record.
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.