The top five wearable med-tech companies
According to new research released this week by Deloitte, the future of the healthcare industry will be closely tied to and driven by an omnipresent, proactive, and integrated system aimed at health and well-being, where technologies like AI, digital therapeutics, cloud and app-enabled digital health capabilities, augmented and virtual reality will have a leading role in the maintenance and improvement of population and personal health.
Deloitte found that these emerging technologies may result in a sweeping structural changes to “traditional medtech business models”. In the future, they predict, we are going to see enhanced collaboration between consumer technology and digital health companies to transform the delivery of care.
With the consumer technology-driven democratisation of healthcare technology forecast to be a major driver of disruption in the industry, Gigabit Magazine breaks down its top five companies currently producing wearable healthcare technology that improves patient health monitoring and cuts down on costly and time consuming doctor visits.
A digital women’s health company with offices in Zurich, San Francisco, Makati and Belgrade, Ava produces and distributes the Ava Bracelet. First launched in 2016, the bracelet is worn only during sleep and helps women get real time, personalized information about fertility, pregnancy, and general health.
Based in Mountain View, California, AliveCor is an AI-driven healthcare device manufacturer aimed at providing users with screening and diagnostic tools. The company’s flagship product, KardiaMobile allows its users to take a medical-grade EKG anytime, anywhere. The device connects to Android and iOS mobile devices, tracking heart activity and displaying results through an app.
Through its subsidiary brand La Roche-Posay, skincare and cosmetics giant L’Oreal produces and distributes a device called My Skin Track UV. Using a thumbnail-sized sensor that doesn’t require a battery, the device pairs with a mobile app to track the user’s exposure to UV, pollen, humidity and pollution.
Wearable health management and fitness monitors are verging on ubiquitous, with high profile offerings like AppleWatch, FitBit and Garmin all vying for a place in the market. But, for those customers who don’t want a large piece of obtrusive technology dangling from their wrists, San Francisco-based startup Motiv may have the solution. Its flagship product, the Motiv Ring, is simple and understated, allowing wearers to monitor activity, sleep patterns and heart rate through a companion app.
Over 30mn people in Europe are affected by more than 7,000 rare diseases. Welsh med-tech startup Aparito offers a selection of wearable devices that allow wearers to input experiential data relating to drug side-effects and treatment progress. The goal is to both improve routine patient health monitoring and provide new tools to conduct studies efficiently and accurately.
Microsoft Power BI: Enabling data culture through innovation
Businesses using Microsoft’s cloud services may be familiar with Power BI – a business analytics service that aims to provide interactive visualizations and business intelligence capabilities with a simple experience helping end users create their own reports and dashboards. Power BI is part of the Power Platform which is a set of low-code tools consisting of business intelligence, app development, bot development and process automation applications. In a world where everything is constantly changing, the Power Platform enables subject matter experts to keep up with business needs.
Today, data comes not just from transactional systems of record, but from the real world – whether it is the devices people use, to everyday human interaction. Power BI’s mission is to make access to data paramount to every business operation through its solutions and empowers individuals, teams and organizations to drive a data culture. This sentiment is further established by Arun Ulagarathchagan, Corporate Vice President of the Power BI team, adding “Our vision here in the Power BI team is to help you drive a data culture where everyone can make every decision with data.” So what can organisations expect to see next in the pipeline? Microsoft is bringing performance management to Power BI for the first time. Organisations strive to achieve certain goals, and today, goals are largely data-driven. Power BI helps make those goals more accessible and personalized in existing workflows. This means that since many teams’ data, analytics and business logic is already reported in Power BI, they can now instantly connect it to their personal/department goals. It is also worth noting that Goals is natively integrated into the Microsoft Teams experience. The goals algorithm is also AI powered, so organisations can better understand how they’re doing and where are the opportunities for improvement. Finally, Microsoft is working towards integrating it with Power Automate, so organisations can define business processes that get automatically triggered as the goals change status. Goals will soon be available as a mobile experience too, so teams can stay up to date and take action in real-time. On that note, another major announcement from Microsoft features real-time analytics. Today, data is captured from everywhere and synthesizing it in real-time allows for maximum impact. Power BI has been a pioneer in real time analytics from the start with a simple vision – that the distinctions between batch, real time, and streaming data today will disappear over time. Power BI will launch Streaming Data Flows soon, allowing every business a simple low-code way to work with real-time data.
Amir Netz, CTO Power BI concludes “Our vision is to empower everyone in the world with data, and not just the people sitting in offices, but people who are working in the real world, people who are moving things, creating things, producing things with their hands. And for this, we have to think again about how we deliver data to help them make better decision