The biggest advantage of wearable devices is that they can easily store personal health information regardless of time and place. According to a report by market research firm Transparency Market Research, the wearable market capacity in 2012 was $750 million; but by 2018, the market capacity is expected to be $5.8 billion. The compound annual growth rate is as high as 40.6%.
Among them, wearable medical devices are much higher than other categories, both in terms of market capacity and compound growth rate. At the same time, medical and health-related wearable devices account for more than half of the entire wearable market.
The health-related wearable devices mentioned here can be roughly classified into medical and non-medical categories. For example, portable blood glucose meters belong to medical products, and millet bracelets belong to non-medical products. But the boundaries between the two are not critical at the application level, and even many wearable devices that were originally targeted for entertainment have healthful uses. For example, Google glasses can be used for live surgery, telemedicine, etc.; smart watches can be used to monitor blood pressure and heart rate, etc., all have potential health and medical value.
Medical wearable devices pursue professionalism and precision, so the functions are relatively simple, which is determined by the current state of technology development. Wearable medical devices are just emerging, technical limitations and precision requirements make it impossible for manufacturers to focus more on a small piece of equipment. For example, the currently used blood glucose, blood pressure, and ECG detection devices are all single-function. But compared to equipment in the consumer sector, such as iWatch, the accuracy of the former is much higher than the latter.
The workflow of medical wearable devices is generally like this:Monitoring a certain physiological characteristic of the wearer (such as blood sugar, blood pressure, ECG, etc.) by a specific sensor;
The wearable device uploads the data directly or indirectly through the paired mobile phone to the server;
User data is processed by a doctor or computer for disease diagnosis or deciding medication;
Taking wearable blood glucose monitoring equipment as an example, Medtronic's real-time continuous blood glucose monitoring system has been approved by the US Food and Drug Administration. This system uses a disposable continuous blood glucose test probe that is attached to the patient's abdomen with tiny wires that penetrate the skin painlessly. The probe measures the glucose concentration in the interstitial fluid of the skin every 10 seconds and then wirelessly transmits it to the receiver via a radio frequency transmitter. The receiver averages the resulting data every 5 minutes and then converts it to a blood glucose value for storage. Compared with the traditional finger blood test method, this method collects more than 100 times of information every day.
Continuous tracking of patients can help doctors to better understand the patient's condition, whether it is before or after treatment, it has important practical significance. The accumulation of patient personal data also contributes to personalized diagnosis and treatment. For example, taking blood pressure as an example, the upper and lower limits of high and low pressure set by China are based on the average group level, which may be different from individuals. Continuous tracking of patients helps determine individualized baselines and improves the accuracy of the diagnosis.
In addition, as China gradually enters an aging society, empty nests and elderly people living alone increase, wearable medical equipment can remotely monitor the physiological indicators of the elderly in real time, so that they can get help in time to reduce the risk of disease.
Wearable monitoring devices can also be linked to other systems to better serve patients. For example, a portable blood glucose meter can be connected to a portable drug injection device to inject insulin into a patient if needed. Blood pressure and ECG monitoring equipment can also be directly connected to the hospital's emergency system to detect emergency signals in an emergency. As a result, wearable devices can improve self-health management capabilities and reduce reliance on doctors and hospitals.
There are more and more factors threatening personal health in modern society, people are paying more and more attention to their own health, and wearable medical equipment has a broader demand base. Wearable health care devices become consumer staples, which also means a huge market.
Therefore, the consumerization of medical equipment is the trend of the times, which is why many IT giants have entered this field. In fact, wearable health devices are hardware-based, but they are made up of sensors, wireless transmitters, and receivers that share many commonalities with other IT products. The background data transmission, processing, analysis and so on are the long-term of the IT giants. So it's no surprise that IT giants are entering the field of wearable and portable medical.
Analysts believe that wearable medical equipment as the next hot spot of intelligent terminals, with the continuous maturity of the basic conditions of mobile Internet, the networking speed is getting faster and faster, and the future application will be broader.
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