The growing demand for products that are "good enough" and competitively priced has pushed medical-product manufacturers to develop strategies to attract and retain this new segment of customers.

Twenty percent of American adults already own a wearable device and the adoption rate - on par with tablets in 2012 - is quickly expected to rise, according to PwC's Consumer Intelligence Series-The Wearable Future report, an extensive U.S. research project that surveyed 1,000 consumers, wearable technology influencers and business executives, as well as monitored social media chatter, to explore the technology's impact on society and business.