Wired for Health: Wearable Technology in Healthcare
EDGE100 Report, 2023
From smartwatches to continuous glucose monitors, wearable devices are totally changing the way we approach healthcare. They’re not just flashy gadgets—they’re game-changing tools that help patients, caregivers, and healthcare providers keep tabs on health in real time. These innovations don’t just enhance preventive care; they also make it possible to create personalized treatment plans and improve outcomes for patients.
Many healthcare providers and patients are still exploring the impact of wearable technology in healthcare and its potential benefits. The market for wearable healthcare technology is projected to escalate to USD 380.5 billion by 2028 from its valuation of ~USD 115.8 billion in 2021.
This blog explores the rise of wearable technology in healthcare, its applications, the role of AI in its evolution, and what the future holds for this burgeoning field.
What is wearable technology in healthcare?
Wearable technology in healthcare refers to electronic devices that are worn on the body, either as accessories or implants, to monitor and track health-related data in real time. These nifty gadgets collect a wide range of physiological data, such as heart rate, blood pressure, glucose levels, and activity patterns. They also send this information to healthcare providers or users via connected apps or platforms. This can be done in real time or at any point when data is needed. This helps the user monitor their data and take the necessary action. Whether it is a pain management wearable, a posture-correcting device, or a rehab tool, the possibilities are endless. Here are some examples of how wearables are making waves:
Wearable technology is increasingly being adopted in preventive healthcare and chronic disease management, revolutionizing how health is monitored and managed. Devices like the ones mentioned above provide real-time data on various vital signs like heart rate, blood pressure, sleep patterns, and physical activity. This continuous monitoring enables the early detection of potential health issues, allowing timely interventions and reducing the risk of complications. Wearables also empower users to take proactive steps toward maintaining their health by promoting physical activity, tracking fitness goals, and encouraging healthier lifestyles. They also facilitate personalized health insights, enabling users to make informed decisions.
For chronic disease management, wearable technology offers significant advantages by enabling remote patient monitoring. Conditions such as diabetes, hypertension, and cardiovascular diseases can be closely tracked, reducing the need to frequent hospitals. With real-time data, healthcare providers can tweak treatment plans on the fly, leading to better outcomes for patients.
The Boom in AI and Wearable Technology in Healthcare
When combined with AI and machine learning, wearables get even smarter, providing predictive analytics and personalized recommendations by identifying patterns and providing insights. As technology advances, the adoption of wearables should also advance, driven by the potential to improve healthcare accessibility, reduce costs, and enhance the quality of life for individuals managing chronic conditions or seeking to prevent them. Wearable technology is anticipated to reduce hospital costs by 16% by 2027, potentially saving up to USD 200 billion in 2037 through remote patient monitoring devices.
The wearable technology market is booming, with numerous startups leveraging AI to develop innovative healthcare solutions. Here are a few notable examples:
- Empatica has developed the Embrace2 smartwatch, which uses AI to monitor physiological signals such as heart rate variability, electrodermal activity, and movement. It is FDA-cleared for detecting generalized tonic-clonic seizures and alerts caregivers in real time.
- BioSerenity offers the Neuronaute, a smart garment that has sensors that monitor neurological activity. Integrated with AI, it aids in the diagnosis and monitoring of conditions like epilepsy by continuously collecting and analyzing patient data.
- AliveCor’s KardiaMobile 6L is a portable ECG device that employs AI to detect various cardiac conditions, including atrial fibrillation. The device provides a six-lead ECG reading and integrates with a smartphone app for real-time analysis and access for healthcare providers.
- Oura has developed the Oura Ring, a smart ring that tracks metrics such as heart rate, body temperature, and sleep patterns. Utilizing AI, it provides personalized health insights and has been used in research settings for illness detection and recovery monitoring.
- Ultrahuman offers the Ultrahuman Ring, a health tracker that monitors metabolic health by measuring parameters like glucose levels and heart rate. The device uses AI to provide insights aimed at improving metabolic fitness and overall well-being.
What does the future of wearable technology in healthcare hold?
Challenges
While wearable technology holds immense promise, it is not without challenges. Privacy and data security are major concerns, as wearables collect sensitive health information. For example, lower willingness levels of the elderly to share personal data could prevent the adoption of new technologies. Ensuring the accuracy and reliability of these devices is also critical, as inaccurate data could lead to misdiagnoses or inappropriate treatments. Additionally, the high cost of some wearables may limit their accessibility, particularly for underserved populations.
Conclusion
In conclusion, even with its challenges, wearable technology is transforming healthcare. With the integration of AI, these devices are becoming even more powerful, offering predictive analytics, personalized recommendations, and automated diagnostics. For healthcare providers and patients alike, the rise of wearable technology presents an exciting opportunity to improve outcomes, reduce costs, and empower individuals to take control of their health. As we look to the future, the impact of wearable technology on healthcare will be profound.
To learn more about how Speeda Edge can help your company stay ahead of the wearables and health technology curve, contact us for a personalized demo.