The State-of-the-art innovation in wearable technology, and medical services, include electronic devices like smartwatches and Fitbits. Consumers can wear them in their hands, and such devices help in the collection of data. The collection of such data helps determine physical well-being and monitor the current health status.
Whereas, Wearable devices' growing demand is booming the market for new investors. The business community is now allocating to understand how profitable it is to provide a state-of-the-art wearable innovation to its customers and representatives.
The acceptance of society for these wearable fitness technologies grows day by day. The mainstream purpose of such wearable technology in society is to keep track of health and fitness.
The number of individuals who use such wearable devices is quite high in the U.S. But, this is the awareness and availability of such technology. That leads people to monitor their health and to keep track of their vital signs. Moreover, research conducted in the U.S. indicates that around 80% of people prefer to wear fitness trackers. They are displaying the tilt towards wearable technology.
On the other hand, this provides insurance and other companies an opportunity to invest in wearable technology. Making sure they provide the best technology to their consumers.
Wearable technology is a great help for individuals as well as for doctors. The reason behind the intensive use of such technology is easy excess along with ease to use. Wearable devices help everyone keep track of their health and keep the physician or primary doctor updated about the vitals in real-time. So, the trends indicate that the demand for such wearable devices will increase in the coming years.
The market and research reports for the wearable devices connected with the healthcare system indicate few driving forces. In the current situation of COVID-19, increased demand for remote monitoring and diagnostic procedures also leads to the use of such wearable devices. Here are a few of the major factors involved in booming the wearable market.
The growing demand and advancement in R&D lead the wearable industry these days. Many companies invest in wearable technologies to provide better and improved technology for the customers by keeping health concerns in mind. However, the major focus of the insurance and private companies is to develop devices that link to the healthcare system. The main purpose is to provide the real-time data of the patient to doctors. These companies' prime focus is developing smartwatches, Fitbits, fitness trackers, and wearable monitoring devices.
Wrist fitness trackers are wearable devices whose main function is to keep track of persons' physical activity and heart rate. Such devices consider being the most original form of wearable technology. Wrist fitness trackers consist of a sensor that activates when a person is involved in an activity requiring much physical activity. This sensor displays and alerts the person if the heartbeat goes above a certain level for a long time. Moreover, improvement in the technology brought more features to be part of such wrist trackers these days. Such trackers connect to multiple smartphones. Doctors and medical response teams receive alerts when a person is in a serious condition and the location of that person.
One popular option for wearable technology is Fitbit Flex. The main reason behind the popularity of this wearable technology is the ability to track and record every step taken throughout. Another reason for the polarity of this device is its sleek design.
Recent transformations in technology brought visible changes in smartwatches. Previously smartwatches only display time and steps taken by a person. These days, such smartwatches can monitor heart rate and transmit the data to concerned persons. Apple is one of the biggest companies of recent times investing in smartwatches. In the year 2017, Apple launched an app known as Apple Heart Study for patients.
Apple recently launched a new series of Apple watches. Unique and incredible features in Apple's series four smartwatches include:
Indeed, such a transformation shows how fast wearable devices are developing and helps the healthcare industry improve its performance.
Smartwatches are not just healthcare indicators. Smartwatches allow people to carry out their daily tasks by just connecting the watch to smartphones. Nowadays, it is easy to see who is texting, calling, or never missing an appointment even without a smartphone. Smartwatches perform almost every task like a smartphone. But, smartwatches are the future of wearable devices.
The State-of-the-art ECG monitors are available for every client. The major difference between smartwatches and ECG monitors is the ability to measure electrocardiograms. The company that won the best wearable devices in 2019 was Withings. The company is known for producing moving ECG products easy to use for patients who have heart problems.
Move ECG can measure the patient's electrocardiogram and send the real-time data to the patient's doctor. That is just not it; this device can monitor atrial fibrillation and track the patient's physical activity and pace, whether the patient is waking, swimming, running, or biking.
The first-ever blood pressure monitoring device was introduced in 2019 by the company Omron Healthcare. However, the device named HeartGuide looks like a smartwatch. The HeartGuide consists of an oscillometric blood pressure monitor to measure daily activity and blood pressure.
The company also developed a mobile app for better comparison and treatment as HeartGuide stores up to 100 readings at a time. The mobile app HeartAdivsor transfers the data to the patient's doctor to give them insight into patient health.
Recent technology brings in the use of biosensors in the field of the healthcare industry. Biosensors are different from traditional wearable devices. At present, Philip's wearable biosensor is on the market. This biosensor is self-adhesive, allowing monitoring of the patient's movement, temperature, heart rate, and respiratory rate while performing daily tasks.
Recent research shows that such wearable devices reduce around 89% of patient deterioration into preventable respiratory and cardiac arrests. Moreover, displaying the ability of wearable devices indicates improvement in patient lifestyle and reducing the workload on medical professionals.
The wearable medical services market is flooding, and its development places more wearable innovation in possession of customers and US organizations. As per research, clients' quantity of well-being and wellness application remains over 84 million through 2022.
This vertical pattern in wearable wellness innovation impacts the choice of insurance, well-being suppliers, and organizations to exploit the advantages of wearable health monitoring devices.
Insurance companies reduce the growing costs per patient for using the devices to improve the living standards of the customers. However, there is a clear indication of wearable technology reducing the hospital visits and readmission of patients because of poor health. Besides, research shows that 75% of people agree that wearable devices help them manage their health.
The organizations also look to offer their workers the availability of wearable devices. As the research shows a healthier corporate culture helps reduce staff turnover, the managers who provide at least five of the well-being 'best practices' have a standard sales rate of 18%, compared to 29% who offer one or two.
As a result of the increasing use of medical wearable devices, customers receive a free abundance of information for their well-being. But, without a doubt, it enables them to become more engaged and willing to track and monitor their well-being and, to a certain extent, introspect.
Current technology is offering a lot to people besides knowing about their health status. People have the freedom to share that data with their doctors. The sharing of such data is far more accurate and structured, and easy for people and doctors to keep track of patients. Therefore, for the first time, exchanging information is evolving with the help of wearable devices. These days patients know more about their health than their doctors. All possible just because of wearable medical devices. Indeed, there is no harm in doing so as this is an effective way of preventing any mishap.
In addition, the emphasis is on teaching people and health practitioners different ways to use innovative wearable medical technology effectively. Wearable technology helps patients and doctors optimize and share well-being information, which could open a new topic, the freedom to expand the possibilities of improving the healthcare system.
The future looks very promising with the help of wearable devices. The well-qualified and digitally equipped practitioners see their patients efficiently with the amount of data received from the patient's wearable devices and apps. However, hospital visits become more accurate, open, and efficient. Also, a strong, trusting, and transparent relationship between practitioner and patient is seen due to these wearable devices.