Fitness trackers from companies such as Apple, Amazon, and Google are switching from low-tech devices that count the steps to what is traditional in personal health. Fitness tracking and exercise data for personal use or to share with friends can be beneficial and enjoyable. However, the growing interest in packaging large amounts of medical data into the digital ecosystem, builds on the surprising increase in remote telephone services required by the Covid-19 pandemic, and informing individuals to come to the doctors and hospitals as part of an electronic medical record.
The wearables market is moving more than a decade ago with basic fitness, workouts, and fitness equipment. Thus, nearly 30% of Americans now use a built-in health care device, many of which have the ability to monitor, monitor and transmit data on heart rate and noise, blood pressure, body temperature, blood sugar levels, sleep quality and even Early warning signs of Covid-19 infection.
Fitbit helped launch the trend in 2009 with a clip-on gizmo that recorded user movements, sleep and calories. The model morphed into a hand-held unit, which incorporates more biosensors and Bluetooth for data transfer to smartphones. Google parent Alphabet acquired Fitbit for $ 2.1 billion in January.
Apple entered the space in 2015 with the first release of its Watch, due to the bevy of health-related services and applications and creating a space for third-party developers to create non-by-devices not only customers but health care providers and researchers for access. and analyze captured data on their smartwatches. It has also partnered with fitness companies such as Nike, Strava and Adidas to allow them to synchronize their workout equipment to the watch. In 2020, the Apple Watch generated nearly $ 13 billion in sales, capturing 65% of the global smartwatch market through revenue, according to Strategy Analyst.
This coveted product has attracted other Big Tech players, including Amazon, the creator of the Halo smart band, and Huawei, which unveiled its Watch 3 this year. There are also several other smartwatch incoming customers from the consumer electronics community, among them Samsung, Garmin and Withings.
In its purest form, the Finnish Oura starter designed a ring embedded with biosensors for sleep, heart rate and body temperature. In May, the company announced a $ 100 million Series C investment round, bringing its total funding to more than $ 148 million. And Peloton is reportedly planning a digital heart rate.
The global market for worn health and fitness equipment – including sensors, wristbands, rings, skin patches, goggles and clothing – will reach more than $ 36 billion by 2020, according to estimates Fortune Trading, and is projected to top $ 114 billion by 2028 at a CAGR of 15.4%. Deloitte Global predicts that the market share for smartwatches and smart patches will reach 320 million worldwide by 2022, a figure that could reach 440 million by 2024.
“Significant funding is available in this area from the capital and private investment sources,” said Deloitte’s Paul Silverglate, vice chairman and director of the US technology company.
Many medtech companies have developed smart patches, penny sizes that are sensitive to the skin and use active injections such as biosensors and deliver medicines. BioIntelliSense, based in Redwood, Calif., Created the BioSticker, worn on the left chest for continuous monitoring and retrieval of data of respiratory rate, heart rate at rest and skin temperature. The public insulet, based in Acton, Massachusetts, has developed OmniPod, a patch that works like an insulin pump.
Emotional clothing has emerged, especially. Montreal-based Hexoskin developed a line of smart shirts that capture one-on-one, oxygen and performance data, and ship to an iOS or Android compatible device. The company partnered with the Canadian Space Agency on an outdoor feature, Astroskin, to track the needs of astronomers while fighting out of this world.