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A snapshot of the state of the market for wearable and lifestyle sensors in the new healthcare as presented at an MITEF Cambridge Life Science / Healthcare Circle event June 24, 2014 by Mirena Bagur, CEO of Contexo Group and HMS/MIT Adjunct Lecturer.
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Market Snapshot:
Wearable and Lifestyle Sensors in the New HealthcareJune 25, 2014
Mirena BagurMITEF LifeScience/Healthcare CircleCONTeXO Group, www.contexogroup.comHMS/MIT Adjunct Lecturer, www.hst921.org@mirenabagur
@mitefcmb #MITEF
Market Pulse: 01/14 Survey
@mitefcmb, @mirenabagur #MITEFSource: EmergoGroup
• Survey of 3900 Med Dev Professionals World Wide
• Nearly 75% of respondents reported "somewhat positive" or "very positive" outlooks for 2014, compared to 71% in 2013.
Changing Definitions• Medical, clinical, consumer,
wearable
• “Wearable technology is a modular ecosystem.
• All three of these components must be connected to one another, and at least one of them must be wearable, edible, or otherwise attached to or within the body.”
@mitefcmb, @mirenabagur #MITEF
Source: Deloitte Digital
The Market
• The market pundits (in Q1 2014):
– ABI Research: • In 2013, wearables transitioned fully from concept to reality, and 2014
is seeing multiple new entrants to the market and rapidly growing consumer interest.
• this year close to 42 million wearable wireless sports, fitness and wellness devices will ship worldwide.
– Deloitte: • 2014 may be the year of wearable devices.
• Taken together, the global market for smart glasses, activity monitors and smart watches could reach 10 million devices and $3 billion in revenue in 2014.
@mitefcmb, @mirenabagur #MITEF
Recent announcements:• The Giants (all in last few weeks):
– Samsung SAMI: fitness framework
– Apple Health Kit: service to collect
– Google Fit: health tracking platform for med devices to be announced6/25
• The Regulatory Environment:– this month the FDA also added a description for an app that closely mirrored the
features of Apple’s HealthKit to its list of mobile medical apps it would choose NOT to regulate as medical devices.
– last Friday, the FDA issued a draft guidance document that revealed the agency intends to further deregulate medical device data systems (MDDS)
• Med Dev Entrepreneurs:– Withings’ announces Activité week of 6/23
@mitefcmb, @mirenabagur #MITEF
Intro: Mirena Bagur, MITEF LifeScience Committee Founder, CONTeXO Group; Adjunct Lecturer, HMS/MIT @[email protected]
Moderator:Josko Silobrcic, MD, MPH, MS, Executive Director, Boston, Healthbox@Healthbox
Panelists:Dr. Piali De, Co-founder, CEO, Senscio Systems @SenscioMaulik Majmudar, MD, Chief Medical Officer and a founding member of Quanttus, Inc., @QuanttusPhilippe Schwartz, President, Withings @Withings
@mitefcmb #MITEF