After Fitbit
held an explosive IPO last week, some observers asked if the wearable health movement is sustainable, or just a flash in the pan. I’ve been studying the market for some time, and I believe most signs point to wearable health tracking having serious long-term potential. In 2014, 90 million of the devices were sold, and demand continues to be strong. The folks at eMedcert have
collected some more interesting data points as well:
- The annual smart wearable healthcare market volume will grow from $2 billion in 2014 to $41 billion in 2020, a compound annual growth rate of 65%. (CDW Healthcare)
- Over 80% of consumers said an important benefit of wearable tech is its potential to make healthcare more convenient (PwC)
- 68% of consumers would wear employer-provided wearables streaming anonymous data to an information pool in exchange for lower health insurance costs. (PwC)
- The wearable band market grew by 684% on a worldwide basis in the first half of 2014 compared with the first half of 2013. (Canalys)
- Today, 1 in 5 American’s own some type of wearable technology. (PwC)
When Fitbit, Jawbone and other health wearables came out, many viewed them as passing fads. But they struck a real chord not only with those who regularly exercise, but mainstream consumers too.
More
- See more at:
http://www.stonehearthnewsletters.com/heres-why-fitness-trackers-are-here-to-stay-doctors-and-insurers-love-them/pedometers/#sthash.ddyCZEvH.Ig2PXPyC.dpuf
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