The document discusses the significance of wearable technology in the pharmaceutical industry, highlighting how aggregated data from devices can enhance patient care and lifestyle choices. Experts from CMI/Compas explore potential partnerships between pharma and tech companies, the evolving consumer landscape towards wearable devices, and the necessity for these devices to blend technology with fashion to gain wider acceptance. The industry's forecast suggests significant growth, with projections for the wearable market reaching $30 to $50 billion in the coming years.

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PHARMA HOT
LIST Q&A
Wearable technology encompasses everything
from smart watches and Google Glasses, to
activity and fitness trackers, even to things like
insoles in your shoes that vibrate to help a
visually impaired person know when to change
direction. All wearable devices transmit and
track data that is collected and transformed into
aggregate data. The consumer can then utilize
that data to help make smarter decisions and
healthier lifestyle choices. Theresa Heintz, Sr.
Associate, Strategic Marketing & Corporate
Communications, CMI/Compas, sat down with
colleagues Nikki Faretra, Senior Media Planner,
Communications Media, Inc., Brett Marvel,
Associate Director, Media, Communications
Media, Inc., and Alya Sherman, SVP, Alliance
Management, Compas Inc., to discuss wearables
and learn what the pharma industry should know
about this space.
TH: Are there any immediate opportunities for
pharma to use wearable devices?
BM: Pharma companies will start to tap into or
possibly even purchase the aggregated data
coming out of these devices so they can see
trends over time. I also think wearables have
huge paid ad space potential.
Although I haven’t seen any specific advertising
opportunities yet, I think pharma will start
looking at this avenue as a way to penetrate the
market.
TH: How will pharma companies use this
aggregated wearable device data in the present,
near, and far future?
BM: As wearable technology drives us closer to
a “quantified self” (self-knowledge through
numbers), the opportunity to leverage that
seamless data to create healthier lifestyles and
products will inevitably follow. The wearable
tech category will empower patients to become
more responsible. And whether we’re managing
that data, it’s being interpreted by doctors to
provide better care, or being purchased by big
pharma to provide better therapies, wearable
tech will eventually drive better decision making
in healthcare.
Pharma Hotlist: Wearables
In an ongoing series, Q&A sessions with experts from CMI/Compas explore
what pharma needs to know about the latest trends in engagement.
“As wearable technology drives us
closer to a “quantified self”, the
opportunity to leverage that
seamless data to create healthier
lifestyles and products will
inevitably follow. ”
Brett Marvel, Associate Director, Media

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Why aren’t people sleeping at certain times
when they should be? What’s happening to
consumers after going for 10-mile runs? I can
see pharma using this big data to eventually
create partnerships and advertising campaigns
based on specific times of the year related to
lifestyle choices such as when people are more
likely to gain weight, lose sleep, or do more
exercise.
TH: In the near future, do you see pharma and
tech companies partnering to create a wearable
device?
AS: Absolutely! But, at what I call, a pharma-
pace. It will take one mover to dip their toe
into the wearable space and then others will
follow slowly. In my opinion, the reason that
pharma will jump into wearables centers on the
patient. They will be patient-focused to
address the adherence and compliance
challenges our industry faces.
TH: What is your favorite wearable device for
the opportunity it can bring to our clients?
NF: I think a great example for pharma is any
device that is worn in the eye, like a contact
lens, that helps monitor glaucoma and is then
monitored by a smartphone. This device
collects data from the optic nerve and can help
prevent someone from going blind. With this
data, a patient would know when to go see
their doctor, and even know exactly what
conversation to have based on the information
gathered on this wearable. Doctors and
pharma companies can then use this
information to ensure these patients are
receiving the treatment that they need before
their condition becomes untreatable.
TH: From a consumer perspective, what trends
do you see in wearable devices?
BM: I think over the next few years, as this
category takes form, we’re going to see more
consumers adapting to the technologies when
devices come out. There are a lot of players in
wearable technology currently. I think you’ll also
see a lot of consolidation over the next few
years, with bigger companies merging with
smaller companies. This would provide
consumers with more advanced options for
wearable tech that best fits their lifestyle.
TH: How are companies trying to bridge the
geeky-tech and fashion-forward gap to get more
consumers interested in wearing wearable
devices?
AS: There are a lot of collaborations happening
between tech companies and fashion houses.
Fitbit is collaborating with Tory Burch and they
created a line of accessories that are very cool.
Google is collaborating with Luxottica who works
with the likes of Ray-Ban and Oakley. For a while,
everything designed was targeted towards
males, but now we are seeing the trend move
more towards the aesthetic design for a female
making it more of a jewelry specific accessory.
For example, the MICA smart bracelet by Intel
and Opening Ceremony. The question is ‘would
you still wear the device if the battery died?’ If
you can say yes, then it’s obviously something
within your lifestyle or work flow. Last year
Credit Suisse issued a report that estimated the
wearable industry could become a $30 billion to
$50 billion industry over the next three to five
years.

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But yet another report, by Beecham Research,
warned that in order for wearable tech to
become sought-after by consumers, tech firms
need to figure out the fashion side of the
equation. Even The New York Times speaks
about the latest wearables and how fashion
and tech collaboration will move this industry
into the future.
TH: What’s the competition like in the
wearable space?
AS: A lot of startups are entering the wearable
space and doing it right because they’re looking
to what the likes of Google and Apple are
doing. Wearable device companies are utilizing
Kickstarter to broaden their awareness and
reach. Kickstarter allows real people to vote on
what’s cool and what’s not so that when it
actually launches into the space it’s what the
consumer wants. I also think the techier startup
companies are looking outside of technology to
see what is going to be wearable and what
appeals to women.
TH: Who’s doing wearables right?
AS: Google. Google’s looking to expand and
broaden their reach. The collaboration with
Luxottica is great because now Google Glass
can appeal to a broader, more mass audience.
Fitbit is also doing it right considering there’s
such a high penetration. Everybody’s familiar
with the name and the collaboration with Tory
Burch has really exploded the brand.
TH: What is it like wearing Google Glass?
AS: They feel a little unnatural compared to
how I’m used to wearing glasses because you’re
constantly focused on this little screen.
[Referring to the screen in the corner of Google
Glass.] There’s definitely a cool factor, a techy-
geek factor that’s enjoyable.
TH: What is your favorite personal wearable
device?
NF: My favorite wearable is my Garmin
Forerunner. It’s awesome because I love to run,
and this wearable device helped me keep on top
of my training. When I was training for the
Philadelphia marathon, my Garmin Forerunner
kept track of my GPS location, pace, distance,
speed, splits, and acceleration. It’s a runner’s
dream. I tracked all that data during my training
runs so that I could realize “OK, when I do this, I
have a better run” and be better prepared on
race day. I’m able to use that data to help me in
my own personal training and have fun.
For more insights on wearables
contact Brett Marvel at
bmarvel@cmimedia.com, Alya
Sherman at
asherman@cmicompas.com, or
Nikki Faretra at
nfaretra@cmimedia.com.