This document summarizes a panel discussion on real-world applications of wearables and the Internet of Things. The panel discussed how the wearables market is growing, especially in healthcare, with medical wearables expected to grow 65% by 2016. Growth opportunities include aging populations, chronic care, remote patient monitoring, big data analytics, and cheaper disposable devices. However, cost, policy and regulation, and security present hurdles. Panelists represented Samsung, Forrester Research, and WellDoc and discussed trends like wearables gaining FDA approval for medical use, partnerships with fashion companies, and niche applications in specific health conditions and the enterprise. The panel examined how wearables will evolve to be more intuitive, integrated, analytic and actionable
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wearables and the IoT HIMSS 2016
1. Real-world Wearables and the IoT: Cases and
Outlook – Panel Discussion
Moderator: Rick Krohn, M.A., M.A.S., President HealthSense
Panelists:
David Rhew, Chief Medical Officer and Head of Healthcare and Fitness at Samsung
Electronics America
Kate McCarthy, Senior Healthcare Industry Analyst, Forrester Research
Anand K. Ieyer, PhD, MBA, Chief Strategy Officer, WellDoc
2. Over 20% of Americans Use Wearable Tech – Forrester Research
3. Wearables Market snapshot
The market includes nearables, “ there-ables” and implantables
Wearables headliners continue to be health and wellness, fitness trackers
…but the medical wearables market, excluding wellness and fitness, is expected to grow 65%, hitting $6
billion in 2016. [Frost & Sullivan 2016 Healthcare Outlook]
Non-traditional, cross- industry innovative partnerships – including fashion, transportation, consumer
electronics
New Market Drivers – clinical grade device buyouts; payer adoption of wearable solutions; cheaper,
disposable devices
Growth opportunities: Aged, Chronic, RPM, Big Data, Analytics
Hurdles – cost, policy and regulation, security
4. 2015 Wearables Market Penetration - Healthcare
• $4.3 BB came into the digital health space in 2015
• Wearables were the second most funded category of digital health in 2015
• Estimated health wearables market growth rate: 17.7% CAGR
• Market potential still largely untapped, adoption could quadruple by 2019
Source: Espeo Software, 2016
…and some Trends for 2016
• From Personal Tracking to Medical Grade – more companies are opting for FDA approval
• Wearables as fashion statement – companies like Fitbit, UnderArmour teaming with Fashionistas
• 1/3 of new wearable products from companies making first foray in to the space
• Business strategies: niche populations, condition-specific and enterprise wearables, consolidation,
richer data
9. Trends ………
Wearables around the body Wearables minimally invasive
and inside the body
Policy and Security
Disruptive Business Models
Connected Health!
16. New eBook from HIMSS authors Rick
Krohn/David Metcalf, and Dr. Pat Salber
Following the author’s 2 previous HIMSS books detailing
mHealth (2012, 2014), this new mHealth eBook titled Health-
e Everything: Wearables and the Internet of Things for
Health conducts a focused examination of wearables as an
explosive niche of the mHealth market. Covering a range of
issues from newer wearable applications in the provider and
enterprise spaces, to emerging technology solutions and
hurdles to successful deployment, and with rich multimedia
content, this eBook provides an engaging discussion about
wearables - present and future – with contributors including
Eric Topol, Daniel Kraft, Robert Wachter, Anand Dyer, and
many more. This eBook also examines the interplay of mobile
solutions like wearables in the healthcare Internet of Things
(“IoT”) landscape. This eBook delivers a unique learning
experience via deep content, digital techniques and expert
perspectives. It can be purchased at the HIMSS show
bookstore, and online at
http://healtheeverything.com