Wearable Technology Industry Analysis Report II: Enhancing Patient Adherence to Medical Wearables
May 12, 2015 08:30
CST Updated
08:30
I.The Development Trajectory of Wearable Technology
II. The Health-Oriented Evolution of Wearable Technology
III.Commercial Applications of Wearable Technology
IV.Three Emerging Industries in Wearable Technology
Leo King——“Wearable technology, from smartwatches and contact lenses to smart textiles and ingestible microchip drugs, has the potential to transform healthcare.”
Experts state that detailed disease monitoring will enable physicians to better understand and treat patients’ conditions. While some hospitals in the United Kingdom, Western Europe, and the United States have already entered early-stage trials, other countries lag behind; the impending era of smart healthcare cannot be ignored.
According to IDC data, over six million devices in the medical and fitness sectors were sold in 2013, a figure projected to rise to 100 million by 2018. Given that this market is still in its early stages, continued rapid growth is anticipated.
Karen Taylor, Research Director at Deloitte Consulting, said, “Increasingly, patients are even asking doctors to recommend wearable devices.”
Wearable devices are being utilized in diverse scenarios to help patients with Parkinson’s disease, diabetes, heart disease, hypertension, and other conditions manage their illnesses, as well as to support the elderly in achieving longevity and living independently.
According to statistics from the UK’s PA Consulting Group, this technology has reduced hospitalization and consultation rates, saving the National Health Service (NHS) £6.5 billion annually. Consequently, the UK has made substantial investments in telehealth research and is regarded as a pioneer in its early adoption.
1. Technology Transfer
Smartwatches are leading the technological trend, as they can track exercise routes and count steps, among other functions, and are widely used in disease management. For example, The Michael J. Fox Foundation for Parkinson's Research has partnered with Intel to leverage devices such as the Pebble smartwatch to help Parkinson's patients combat the disease.
Dr. Todd Sherer, CEO of The Michael J. Fox Foundation for Parkinson’s Research, describes Parkinson’s disease as a “24/7 condition.” They have introduced a wearable system that continuously monitors for anomalies and changes in real time via sensors and other data streams in the background, providing researchers with an objective means to track disease progression, thereby enhancing treatment outcomes and research efforts.
Silvia Piai, Research Manager at IDC Health Insights, pointed out that there is still significant potential for customized smartwatches and other wearables to improve mental health by tracking psychological activities and their interactions with environmental factors.
The elderly can also benefit, particularly from smartwatches and smart clothing capable of measuring heart rate, temperature, physical activity, and other physiological parameters. Dr. James Amor, a researcher at the University of Warwick in the United Kingdom, believes that activity monitoring enables family members and caregivers to stay informed about the health and daily behaviors of older adults, thereby boosting users’ confidence and reducing hospitalization rates.
Traditional products are typically geared toward fitness., such as Fitbit bands, Polar and Samsung watches, whileThe Emergence of the Apple Watch Has Shattered the Traditional Landscape, allowing for the integration of more healthcare and disease management technologies.
Next is Google, which reached an agreement with the Swiss pharmaceutical company Novartis in 2014 to jointly developSmart Contact Lenses. These smart glasses not only restore the eye’s focusing ability but also directly monitor blood glucose levels in diabetic patients, sparing them the pain of blood draws and potentially becoming a boon for those with diabetes. Joe Jimenez, CEO of Novartis, stated that wearable technology will increasingly “manage human diseases.”
Pharmaceutical companies, facing declining revenue streams, are the most eager to see this shift. Piai explained, “These companies face a significant challenge: a lack of representative drugs, while disease management technologies are becoming an industry focus.”
Tech company Proteus has also launched a device powered by stomach acidSmart Pills. The pill contains a built-in miniature wireless signal transmitter and sensors that, once ingested, can track the body’s physiological responses and transmit data to smartphones or tablets. A company spokesperson stated that the pill could help doctors “make accurate judgments about disease progression.” Other companies are also developing smart skin patches capable of monitoring vital signs and even delivering medication.
All these technological transfers and advancements are undoubtedly aimed at better maintaining health. So, how can we better encourage patients to adopt them? Financial incentives are certainly indispensable.
2. Fiscal Incentives
Some healthcare departments are considering offering incentives to encourage patients to use medical devices, thereby reducing healthcare costs while achieving better treatment outcomes. Massimiliano Claps, R&D Director for the Government Sector at IDC, stated, “Long-term use of devices for disease management can alleviate the burden of healthcare expenditures.”
Taylor expressed concern: “A major threat to patients is what happens if they fail to use devices to maintain their health, particularly in the absence of state-supported medical services and when insurers refuse to provide coverage.”
Therefore, patient adherence to device usage warrants further attention. Claps stated, “We often find that patients set the device aside after using it for just one or two months.” In such cases, communication and motivational strategies are also necessary.
Furthermore, the industry must strive to overcome technical challenges, the most significant of which is the proprietary nature of many systems. Claps believes that some fitness device manufacturers, such as Fitbit, Samsung, and Apple, recognizing the potential of the healthcare market, may open up their systems for specific purposes.
The pace of technology transfer is accelerating. Hospitals, clinics, and physicians need to collaborate with patients in leveraging services provided by technology vendors to manage diseases. Although wearable devices will not replace medical or clinical care, they can help caregivers truly manage patients’ conditions.
II. The Health-Oriented Evolution of Wearable Technology
III.Commercial Applications of Wearable Technology
IV.Three Emerging Industries in Wearable Technology
Leo King——“Wearable technology, from smartwatches and contact lenses to smart textiles and ingestible microchip drugs, has the potential to transform healthcare.”
Experts state that detailed disease monitoring will enable physicians to better understand and treat patients’ conditions. While some hospitals in the United Kingdom, Western Europe, and the United States have already entered early-stage trials, other countries lag behind; the impending era of smart healthcare cannot be ignored.
According to IDC data, over six million devices in the medical and fitness sectors were sold in 2013, a figure projected to rise to 100 million by 2018. Given that this market is still in its early stages, continued rapid growth is anticipated.
Karen Taylor, Research Director at Deloitte Consulting, said, “Increasingly, patients are even asking doctors to recommend wearable devices.”
Wearable devices are being utilized in diverse scenarios to help patients with Parkinson’s disease, diabetes, heart disease, hypertension, and other conditions manage their illnesses, as well as to support the elderly in achieving longevity and living independently.
According to statistics from the UK’s PA Consulting Group, this technology has reduced hospitalization and consultation rates, saving the National Health Service (NHS) £6.5 billion annually. Consequently, the UK has made substantial investments in telehealth research and is regarded as a pioneer in its early adoption.
1. Technology Transfer
Smartwatches are leading the technological trend, as they can track exercise routes and count steps, among other functions, and are widely used in disease management. For example, The Michael J. Fox Foundation for Parkinson's Research has partnered with Intel to leverage devices such as the Pebble smartwatch to help Parkinson's patients combat the disease.
Dr. Todd Sherer, CEO of The Michael J. Fox Foundation for Parkinson’s Research, describes Parkinson’s disease as a “24/7 condition.” They have introduced a wearable system that continuously monitors for anomalies and changes in real time via sensors and other data streams in the background, providing researchers with an objective means to track disease progression, thereby enhancing treatment outcomes and research efforts.
Silvia Piai, Research Manager at IDC Health Insights, pointed out that there is still significant potential for customized smartwatches and other wearables to improve mental health by tracking psychological activities and their interactions with environmental factors.
The elderly can also benefit, particularly from smartwatches and smart clothing capable of measuring heart rate, temperature, physical activity, and other physiological parameters. Dr. James Amor, a researcher at the University of Warwick in the United Kingdom, believes that activity monitoring enables family members and caregivers to stay informed about the health and daily behaviors of older adults, thereby boosting users’ confidence and reducing hospitalization rates.
Traditional products are typically geared toward fitness., such as Fitbit bands, Polar and Samsung watches, whileThe Emergence of the Apple Watch Has Shattered the Traditional Landscape, allowing for the integration of more healthcare and disease management technologies.
Next is Google, which reached an agreement with the Swiss pharmaceutical company Novartis in 2014 to jointly developSmart Contact Lenses. These smart glasses not only restore the eye’s focusing ability but also directly monitor blood glucose levels in diabetic patients, sparing them the pain of blood draws and potentially becoming a boon for those with diabetes. Joe Jimenez, CEO of Novartis, stated that wearable technology will increasingly “manage human diseases.”
Pharmaceutical companies, facing declining revenue streams, are the most eager to see this shift. Piai explained, “These companies face a significant challenge: a lack of representative drugs, while disease management technologies are becoming an industry focus.”
Tech company Proteus has also launched a device powered by stomach acidSmart Pills. The pill contains a built-in miniature wireless signal transmitter and sensors that, once ingested, can track the body’s physiological responses and transmit data to smartphones or tablets. A company spokesperson stated that the pill could help doctors “make accurate judgments about disease progression.” Other companies are also developing smart skin patches capable of monitoring vital signs and even delivering medication.
All these technological transfers and advancements are undoubtedly aimed at better maintaining health. So, how can we better encourage patients to adopt them? Financial incentives are certainly indispensable.
2. Fiscal Incentives
Some healthcare departments are considering offering incentives to encourage patients to use medical devices, thereby reducing healthcare costs while achieving better treatment outcomes. Massimiliano Claps, R&D Director for the Government Sector at IDC, stated, “Long-term use of devices for disease management can alleviate the burden of healthcare expenditures.”
Taylor expressed concern: “A major threat to patients is what happens if they fail to use devices to maintain their health, particularly in the absence of state-supported medical services and when insurers refuse to provide coverage.”
Therefore, patient adherence to device usage warrants further attention. Claps stated, “We often find that patients set the device aside after using it for just one or two months.” In such cases, communication and motivational strategies are also necessary.
Furthermore, the industry must strive to overcome technical challenges, the most significant of which is the proprietary nature of many systems. Claps believes that some fitness device manufacturers, such as Fitbit, Samsung, and Apple, recognizing the potential of the healthcare market, may open up their systems for specific purposes.
The pace of technology transfer is accelerating. Hospitals, clinics, and physicians need to collaborate with patients in leveraging services provided by technology vendors to manage diseases. Although wearable devices will not replace medical or clinical care, they can help caregivers truly manage patients’ conditions.