In the past few years the wearables sector has been a hive of activity, but it feels like this year things have accelerated, particularly in the realm of health and wellness. A report by Forrester Research projected that 29 percent of Americans will use wearable devices, compared with 18 percent in 2015. It predicts that wearables sales will rise from $4.2 billion in 2015 to $9.8 billion in 2021.
There has been more interest in wearables companies doing clinical validation. The AARP has been using its Project Catalyst initiative to validate the usability of connected devices and activity trackers for seniors. Apart from being embroiled in lawsuits over the accuracy of its sensors and with competitors like Jawbone, Fitbit has been making a case for its trackers to have a greater role in employer wellness programs and greater ties to healthcare in general. Changes at Jawbone have fed speculation about the likelihood of a sale of that business. But these are just part of wider industry changes that stand to influence the capabilities, shape and appearance of wearables. Here’s a look at four trends, which also include futuristic technologies at the prototype stage.
Cognitive coaching IBM and Under Armour embarked on a partnership to harness IBM Watson Health’s artificial intelligence capabilities to provide personalized advice to people using Under Armour’s Connected Fitness apparel items. It’s not a stretch to imagine this technology being harnessed for markets beyond athletes.
Internet of Things The ability to connect wearables to the Internet of Things to integrate data from blood pressure cuffs and other devices is increasingly being adopted by device companies, including those targeting seniors. GreatCall recently added connectivity to its Lively Alert wearable to personal medical devices such as a blood pressure cuff, scale and other sensors through Bluetooth. The idea is to give family caregivers and others the ability to monitor health in real-time.
Philips made a big splash last week with its announcement that it would launch a line of clinically validated consumer-focused connected health monitoring devices. But earlier this year it rolled out an initiative to support seniors, called Aging Well. The goal is to have a community of partners providing personalized user experiences through apps, connected devices and personalized health information with partners such as remote monitoring technology company RespondWell.
Optoelectronics Without a dependence on battery life, the use of wearables could be more productive. One approach has been the re-imagining of wearables using a flexible material that resembles an extra layer of skin. This technology is in the early stages but is beginning to emerge from research laboratories. But so far these pre-commercial prototypes have only shown the ability to do electrophysiology, sense temperature and chemicals. According to a paper published in Science Advances, these devices could harness signals from mini LEDs and photodetectors by amplifying and digitizing their signals to monitor heart rate, tissue oxygenation, blood pressure, ultraviolet exposure, and skin.
A Deep-dive Into Specialty Pharma
A specialty drug is a class of prescription medications used to treat complex, chronic or rare medical conditions. Although this classification was originally intended to define the treatment of rare, also termed “orphan” diseases, affecting fewer than 200,000 people in the US, more recently, specialty drugs have emerged as the cornerstone of treatment for chronic and complex diseases such as cancer, autoimmune conditions, diabetes, hepatitis C, and HIV/AIDS.
Smart fabrics Currently wearables tend to be associated with either sporty, rubber wristbands, but smartwatches and jewelry have shown that the form factor is becoming more diverse. Drexel University and Penn State researchers are developing treated fabrics with healing properties. Indeed, smart fabrics are a significant area of interest, given the substantial initiative launched earlier this year by the U.S. Department of Defense. It includes companies such as Nike, North Face, Bose, Microsoft, Intel, and Flextronics.
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