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WEARABLE MEDICAL DEVICES
Submitted by:
Himanshu Garg
13125020
MBA 2nd year
INTRODUCTION
 Wearable health devices can capture more accurate and real
time data related to vital signs and symptoms. I...
MARKET SITUATION
 Wearable technology is divided into four main categories; Fitness
and wellness, Infotainment, Healthcar...
CONTD.
 Healthcare and Medical, globally it has a second largest
market share of 35.1% in wearable technology. Devices in...
BENEFITS
 -Provides enhanced real time data, environment recognition and easier communication
 Retailers can provide imp...
REASONS FOR CHOOSING THE AREA
REASONS CONTD.
 Problems associated with rural India to take up these devices:
 While the majority of people live in rur...
 Factors with urban India to take up these devices:
 rise in lifestyle diseases
 increasing urbanization
 higher middl...
 Per capita expenditure on healthcare in India(source- WHO database):
2000 $19.57
2001 $20.92
2002 $21.06
2003 $23.66
200...
STAKEHOLDERS ASSOCIATED
 Technology developers
 Manufacturers
 Healthcare providers
 Insurance providers
 Distributor...
PROBLEMS ASSOCIATED WITH DEVICES
 Lack of knowledge about the devices in rural sectors
 Prices might be higher
 They ar...
SOME SUGGESTIONS TO SOLVE THESE
PROBLEMS
 Having different marketing strategies for people having ubiquitous network and ...
THE YIN AND YANG
WHERE IS WEARABLE HEALTH CARE IN INDIA
HEADED?
 Like the overall wearables market, sales and
shipments for wearable healt...
REFERENCES
 http://www.statista.com/statistics/259372/wearable-device-market-value/
 http://www.fool.com/investing/gener...
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Wearable medical devices

  1. 1. WEARABLE MEDICAL DEVICES Submitted by: Himanshu Garg 13125020 MBA 2nd year
  2. 2. INTRODUCTION  Wearable health devices can capture more accurate and real time data related to vital signs and symptoms. It will be in form of smart watches, glasses and fabrics. In recent medical trials, many organizations have used headsets to measure brainwaves and clothes to embed sensing devices  Below is a list of health parameters that wearable devices can capture or monitor  Glucose  ECG  Blood Pressure  Pulse Oximeter (blood oxygen saturation and pulse rate)  Available Commercial Devices: BodyTel, wearable EEG headset, heads Moticon, Nuubo LG Life Band Touch
  3. 3. MARKET SITUATION  Wearable technology is divided into four main categories; Fitness and wellness, Infotainment, Healthcare and medical, Industrial and military. In Fitness and wellness devices are activity trackers which measure speed, calories burnt, sleep time, stride rate etc. They have highest market share of 61%. Globally key players in this category are Fitbit, Adidas, Nike, Jawbone. From the Accenture Digital consumer tech survey 2014, which is conducted in six countries, Australia, Canada, India, South Africa, the UK and US, more than half of consumers said they have interest in buying wearable technology, where 80% of Indians are planning to buy in this year in which fitness and wellness is given highest priority. To capitalize on this opportunity companies like Adidas and Nike, being trusted brands in India, should offer activity tracking devices at acceptable price range
  4. 4. CONTD.  Healthcare and Medical, globally it has a second largest market share of 35.1% in wearable technology. Devices in this category are more advanced and intelligent compared to fitness and wellness. The latest wearable health gadgets are from, headsets that measure brainwaves to clothes that incorporated with sensing devices. Self - quantifying apps are mobile apps that monitor vital signs about user. Self - quantifying patients is next logical step in personal healthcare. Physicians have found that wearable technology is useful for patients in management of chronic diseases like obesity, heart diseases, diabetes etc. In US 7 out of 10 are already quantifying themselves using apps and wearable technology. In India wearable technology in healthcare is destined to grow bigger atleast initially in Indian metros. Medtronic and Cardionet are key players, whose products are known for their accuracy and faithfulness. According to Global Trends and Forecast, by 2018 mobile health apps and solution market will worth $20.7 bn. Fitness and Healthcare are two categories where there will be tremendous growth in the next coming five years.
  5. 5. BENEFITS  -Provides enhanced real time data, environment recognition and easier communication  Retailers can provide improved shopping experience  -Real time coupons based on user location  Social networking  - Users can take pictures and share with friends instantly without any click  - Get instant feedback from friends  Improves or changes the nature of jobs where below parameters are more important  - Alertness  - Safety  - Time/performance recording  - Location  More reliable as it has continuous connectivity with the information provider
  6. 6. REASONS FOR CHOOSING THE AREA
  7. 7. REASONS CONTD.  Problems associated with rural India to take up these devices:  While the majority of people live in rural India, the majority of physicians live in urban centers— the ratio of doctors per thousand people in urban India is said to be seven times more than that of rural India  Government health centers are understaffed and ill-equipped—there is less than one doctor per 10,000 people in rural India  Health staff are undertrained and lack the knowledge for diagnosing certain medical conditions and undertaking specialized treatment  In most cases, patients who can afford it, are forced to travel to towns and cities, often with their relatives, for diagnosis and treatment, all of which translate into high cost and loss of daily income—of every Rupee spent, 70% is overhead and only 30% is used for medical care  All diagnose and prescription documents are in English, which is not the working language of rural people
  8. 8.  Factors with urban India to take up these devices:  rise in lifestyle diseases  increasing urbanization  higher middle-class incomes  increasing awareness about the benefits of healthcare delivery system
  9. 9.  Per capita expenditure on healthcare in India(source- WHO database): 2000 $19.57 2001 $20.92 2002 $21.06 2003 $23.66 2004 $28.70 2005 $31.22 2006 $32.99 2007 $39.89 2008 $42.70 2009 $43.59 2010 $51.36 2011 $59.10 , of which $40.15 is spent on regular check ups or reports which can be easily taken care of by medical wearable devices to a high extent Average value of a healthcare wearable device= $ 50.14
  10. 10. STAKEHOLDERS ASSOCIATED  Technology developers  Manufacturers  Healthcare providers  Insurance providers  Distributors  Retailers  Patient groups
  11. 11. PROBLEMS ASSOCIATED WITH DEVICES  Lack of knowledge about the devices in rural sectors  Prices might be higher  They are primarily aimed at fitness fanatics, yet well over half of all Indians do not exercise regularly, and thus have little interest in the product.  Fitness trackers also fail to keep the attention of those health- conscious consumers who do go out and buy them.  The novelty of being able to track your steps, calories or other metrics is appealing at first, but swiftly wears off. Use a fitness tracker regularly, and you get pretty good at guessing the numbers.  It is unclear at what pace the technology will evolve  Uncertainty over the commitment of hardware-makers  Distribution problems
  12. 12. SOME SUGGESTIONS TO SOLVE THESE PROBLEMS  Having different marketing strategies for people having ubiquitous network and for people not having it.  Try and give more info on the devices, what are they and how are they to be used in local languages in small towns and rural areas via nukkad nataks and local newspapers in easy t understand and effective language  Social media marketing emphasis in urban areas, with paid articles on fitness and healthcare magazines and websites eg webmd.com etc.  Emphasis on price in rural areas and emphasis on functionalities ad coolness in urban areas  Self-tracking gadgets will probably only become a mainstream market once they shed their image as computerised jewellery or conversation-starters for fitness freaks and data geeks, and start collecting much more useful information related to health, such as vital signs and a wearer's biochemical changes.  The data might be analysed to uncover health trends or to spot diseases before their full-blown symptoms appear.  One can even imagine health-insurance companies offering discounts on premiums to people who wear the gadgets, just as car-insurance firms do for drivers whose cars are equipped with wireless devices that track where and when the car is on the road.  R&D for better and low cost solutions for Indian markets.
  13. 13. THE YIN AND YANG
  14. 14. WHERE IS WEARABLE HEALTH CARE IN INDIA HEADED?  Like the overall wearables market, sales and shipments for wearable health care technology are on the rise. According to Statista, market for the overall wearable devices market will rise from 53.9 million USD in 2013 to 1.64 billion by 2015, for an increase of 67%. .  For the wearable fitness market alone, it estimates that sales will increase from its prediction of 43.8 million shipments in 2013 to 57.2 million in 2017, an increase of 23%. Some consider this to be a low estimate.
  15. 15. REFERENCES  http://www.statista.com/statistics/259372/wearable-device-market-value/  http://www.fool.com/investing/general/2014/07/09/who-stands-to-benefit- when-healthcare-wearables-ar.aspx  http://www.economist.com/news/business-and-finance/21613925- potential-market-personal-fitness-tracking-devices-over-hyped-shedding- wearables  http://www.healthmarketscience.com/industry-news/future-medical- devices-wearable-technology  http://www.glgravity.org/pdf/issue21v7.pdf  http://www.indexmundi.com/facts/india/health-expenditure-per-capita  http://www.frost.com/prod/servlet/press-release.pag?docid=289401907  http://www.atkearney.com/paper/- /asset_publisher/dVxv4Hz2h8bS/content/winning-the-battle-for- consumer-healthcare-science-versus-the-marketers/10192  http://www.accenture.com/in-en/Pages/service-health-innovation-trends- india.aspx
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