Page 0030

LIVINGLIVING

As digital health and

artificial intelligence

are increasingly

introduced, the

capabilities of

medical devices are

being expanded

such that they can

diagnose and monitor

specific conditions

with increasing

independence from

the doctor.

"

Wearables:

5 Key Conclusions

Latest Research from Cambridgebased IDTechEx

illustrate some of

the most significant conclusions,

figures, and data in the report.

1. 2019 saw the largest single year growth

rate for wearable technology product

revenue since 2015. This represents the

largest one-year growth rate since peak

wearables hype in 2015 (a year which

saw the commercial launches of leading

devices such as the Apple Watch), which

emphasises the growing strength in the

sector and the continuing opportunity for

new development and growth.

2. COVID-19 has already had a significant

impact on 2020 revenues, but many

sectors retain long-term optimism.

While doctors' appointments are not

taking place in person and sales of

many products have been significantly

impacted due to the virus, the impact has

been varied. Some products have seen

as much as an 80% reduction in sales for

Q2 2020 vs Q2 2019, other areas - such

as remote patient monitoring devices -

have been accelerated onto the market

to assist in pandemic countermeasures.

3. Specific regulatory changes coming

in 2020 and 2021 will have a significant

impact on skin-patch products. In the

US many products involved in pandemic

countermeasures have been fast-tracked

to FDA approvals. Regulatory barriers

are critical challenges for many players,

from new start-ups to global leaders, and

changes to them can shift the dynamic

immediately.

4. Technology giants target the move from

consumer to medical, with wearables as

a key ingredient. Players, such as Apple,

Google, Samsung, Microsoft, among

others, have long been investing in

product and platform development with

relevance to health and wellness but there

is an increasing prevalence of medical

sensing metrics being deployed into

traditionally consumer wearable products.

Smartwatches have been demonstrated

with ECG for atrial fibrillation, PPG for

oxygen saturation and blood pressure

monitoring. Products are having versions

of these features added as part of a standard

consumer offerings, complete with

appropriate disclaimers that encourage

users to consult their doctor if they have

challenges. The wearable devices at the

core of this are an essential part of the

long-term strategy for these companies,

and the technology within them is being

developed at a remarkable rate.

5. The fifth trend has been away from

single parameter to multi-parameter

sensing. As digital health and artificial

intelligence are increasingly introduced,

the capabilities of medical devices are

being expanded such that they can

diagnose and monitor specific conditions

with increasing independence from the

doctor. These multi-parametric systems

will increasingly become the norm, a

gradual evolution over years and decades.

Taken from IDTechEx report on wearable

technology www.idtechex.com

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