Top 5 Wearable Health Solutions of 2015 File for IPO
This article, written by Ben Heubl, highlights the most innovative companies in the wearable medical technology sector and some of the most popular solutions. VCBeat has compiled and translated the main content as follows:
We often hear much about wearable devices: for example, multi-billion-dollar market trends; limited availability; broad clinical utility; and issues of effectiveness and interoperability.
Setting these aside, nuviun has identified that the crux of the wearable technology market lies in recording and tracking. We have reviewed more than 300 wearable technology companies worldwide and evaluated those we believe will lead innovation trends and exert a long-term impact on our lives and health. On this basis, we have established an evaluation system based on the solutions proposed by each company to assess their wearable devices.
Innovation Score for Wearable Medical Devices
Nuviun’s innovation scoring of most wearable medical companies or products in the Western market in 2015 provides a broad overview of various solutions. However, I believe it lacks sufficient substantiation. Based on whether a product’s solution can achieve its goals and deliver sustained health benefits to users, I have developed a scoring system and assigned a score to each technology company. (This represents personal opinion only.)
Score: 1-6;
“1” indicates that the wearable solution did not impress me;
“6” indicates that I am very interested in this innovative solution;
Top 5 Popular Solutions
We have found that some companies have proposed novel solutions, while others primarily target users with the most pressing needs. Below are our carefully selected 2015 nuviun “Top 5 Hot Solutions.”
Diabetes: Smart Diapers
According to the World Health Organization, 10% of adults worldwide suffer from diabetes. Alarmingly, this issue is expected to worsen over time. Children and young adults are most susceptible to Type 1 diabetes, and Smart Diapers can facilitate early intervention and treatment for this condition. The data provided by Smart Diapers can also reveal various other health issues, such as urinary tract infections, chronic dehydration, and potential kidney problems.
The product is disposable, featured on its Indiegogo campaign page, and has been proven to be equally suitable for children with chronic kidney disease.
Introduction: Smart Diapers feature a set of multi-colored test strips on the diaper. When urine comes into contact with these strips, users can scan them with a smartphone via a dedicated app to instantly obtain the test results. These data help monitor the baby’s health status.
Air Pollution: Oxie
It is estimated that 7 million people die from air pollution each year. The World Health Organization states that environmental issues have become the greatest threat to human health, with children facing particularly higher risks due to their immature respiratory systems.
Oxie is the first wearable device that effectively purifies air without requiring users to cover their faces. Compact enough to be worn around the neck and concealed beneath a collar, it preserves your overall style while delivering the benefits of air purification. The startup has received an invitation to join the TechStars Healthcare Internet program in Kansas, USA.
In fact, there are also similar products being developed in China, as previously reported by VCBeat.Feng XiaoliuIt is dedicated to creating high-quality air for all scenarios. It also features an intelligent air management function that, when used at home, can automatically control devices such as fresh air systems, air purifiers, and air conditioners based on air quality readings, thereby optimizing indoor air quality automatically.
Cardiovascular Disease: ZIO XT PATCH
According to World Health Organization statistics, three out of every ten deaths are attributable to cardiovascular disease. Notably, 80% of these cases are preventable, and the Zio XT Patch aims to change this reality.
The ZIO XT Patch can wirelessly monitor various types of arrhythmias and record the wearer’s heartbeats during sleep and other daily activities for up to 14 days. The collected data is transmitted to iRhythm’s clinical application, where precise algorithms are used to analyze the results.
According to a report by Heart.org, cardiovascular disease is the leading cause of death globally, claiming 17.3 million lives annually, a figure projected to rise to 23.6 million by 2030.
On the U.S. television program “The Doctors,” a woman who had suffered from arrhythmia since the age of 12 was unable to find relief for her symptoms. Through the recommendation of cardiologist John Kennedy, she used the ZIO XT PATCH to monitor her heart rhythm, which ultimately helped identify an appropriate treatment plan tailored to her needs.
Pregnancy and Child Health: Ritmo
According to a World Health Organization report, approximately 800 women worldwide die each day from complications related to pregnancy or childbirth. The Ritmo wearable device developed by Nuvo Group enables expectant mothers to monitor their baby’s heart rate and movements around the clock.
Oren Oz, founder and CEO of Nuvo Group, stated that the pregnancy monitoring belt would be showcased at the 2015 London Tech Show. In an interview with New Scientist magazine, Oz introduced that the device can record all events during pregnancy from the abdominal surface, and stated that their goal is to minimize the risk of related complications as much as possible.
The founder told the magazine that he hopes data from the monitoring belt will help researchers gain new insights into pregnancy. The data collected by the 13 built-in sensors are valuable and can impact the health of expectant mothers and their babies. According to the interview, the company also plans to develop a medical-grade version with more sensors and higher precision. Doctors can use this device for remote patient monitoring to detect any early complications.
Another prominent company in this field is DuoFertility. It is a sensor-based monitoring device designed to help women conceive. According to the product’s brief description, DuoFertility enhances the likelihood of pregnancy by continuously measuring body temperature and integrating these results with menstrual cycle data to identify key fertile windows.
Cambridge Temperature Concepts, the parent company, aims to revolutionize fertility treatment by empowering women to fully leverage their natural conception potential through the provision of all necessary information. DuoFertility states that, in certain cases, it may even help reduce the need for costly in vitro fertilization (IVF) treatments.
Medication Adherence: Proteus Health
What happens if patients do not take their medication? As stated in a scientific article published in The New England Journal of Medicine, “It is evident that effective medications can exert their therapeutic effects only when patients closely adhere to medical advice.”
The article also points out that half of the patients do not take their medication as prescribed. But what if you could not only track whether patients are taking their medication, but also have a continuous impact on their physiology?
Proteus Health is said to have pioneered the integration of cutting-edge pharmaceuticals with technologies such as mobile devices, wearables, and cloud computing. Its core technology is a feedback system that enables patients to monitor their personal health and physiological responses. A disposable “patch” applied to the skin allows wearers to track their body’s physiological reactions and behaviors. According to Proteus’s website, the patch receives data from sensors to monitor heart rate, activity, and rest, and transmits this information to mobile devices.
According to Crunchbase, Proteus Health is a representative company that has secured substantial funding in the digital health sector, making it a strong contender for an initial public offering (IPO).
Moreover, this intelligent wearable technology is highly valuable for pharmaceutical research. Only highly engaged patients who strictly adhere to prescription medication guidelines can be used to assess the success of clinical trials. Reportedly, Proteus has secured a new partner, Oracle. Together, Oracle and Proteus will leverage Oracle Health Sciences’ cloud services for medication adherence data to help enhance the precision of clinical trials.
An article in the Financial Times described Proteus’s solution as “a prime example of how a connected sensor can help healthcare professionals monitor treatment.” Proteus’s products have already received CE certification in the European Union and clearance from the U.S. Food and Drug Administration (FDA). Moreover, the company has raised a total of $291.5 million in financing, giving it both the potential and the capital to expand into the market.
Uniqueness and Benefit Evaluation
Vandrico is a company specializing in wearable device databases. The data provided by Vandrico reflects how unique these devices are and the benefits they offer. Bayan Bennett, Chief Engineer and Researcher at Vandrico, stated:
“Benefit Score” is evaluated based on the functions provided by the equipment. A higher score indicates better performance. Meanwhile, “Uniqueness Score” is determined by comparing the equipment’s functions with those of other devices; a lower score indicates greater uniqueness.
A Leading Solution in Terms of "Uniqueness"
Jawbone UP24 is the least unique solution in Vandrico’s ranking of wearable medical products for uniqueness.
Leading Solutions in Terms of "Efficiency"
The Atlas Fitness Tracker ranks among the top in Vandrico’s benefits ranking.
Plotting Vandrico’s benefits and uniqueness on an interactive scatter plot helps identify the most optimal solutions. (Only a subset is shown here.)
Product Distribution Leading the Wearable Medical Market: Benefits & Uniqueness
X-axis: Benefit Score of Wearable Medical Devices
Y-axis: Uniqueness Score of Wearable Medical Devices
