Digital Health

On February 8th, Verizon moved to introduce its new—and first—smart watch, the Wear24 . The Wear24 is one of the first Android Wear 2.0 devices. Its standout feature is that it offers LTE connectivity, and is capable of making and receiving calls and texts without being paired to a nearby smartphone. (You still need to have a phone on Verizon's network, though.) Like the LG Watch Sport—another Wear 2.0 device, developed by LG in partnership with Google—the Wear24 offers...
 
by Kristen Hanich | Feb. 16, 2017
Tags: mobile, operator, smart watch, wearable
As usual, CES 2017 was a four-day extravaganza of innovations from the smartest connected car innovations to the latest bendable/flexible battery. In the digital health section of the show floor, two companies caught my attention—Israel-based TytoCare and South Korea’s Partron/Croise. Both design and manufacture what I call “personal health hub” devices. TytoCare’s hub (the TytoHome model on the right) is a half-palm-sized device with accessories that currently...

Some of the most interesting news to come out of CES this year had to do with virtual reality. With the upcoming release of the Windows Holographic System and VR headsets for around $300, it seems like 2017 may be the year that VR goes mainstream. But what does this mean for fitness and healthcare? One example of what we can expect in terms of fitness is VirZOOM. The VirZOOM platform includes a stationary bicycle that works in combination with a VR headset and accompanying software...
Fitbit’s stock had a terrible year in 2016 even though the company posted double-digit growth in both revenues and device sales. That is how tough to be in hardware business these days. Fitbit has never hid its ambition for pursuing growth opportunities via the corporate wellness and health insurance channels, but that growth has yet to be validated through financial metrics. The upcoming fourth-quarter financials and its 10-K report later this year would clear a lot of...
 
by Harry Wang | Jan. 5, 2017
Tags: care management, mHealth, wearable

We recently released a complimentary whitepaper examining the top trends in the connected home, health, and mobile industries. Top 10 Consumer IoT Trends in 2017 , which features insight from Parks Associates’ analyst team, examines key topics driving growth and monetization of the IoT. Consumerization of healthcare services and devices drives integration with smart home ecosystems and new business models. Connected healthcare is taking a more prominent role in the...
Fitness device use is most frequent among owners with active gym memberships with no cancellation plans Over one in three fitness tracker and/or smart watch owners have an active gym membership and do not plan to cancel. Past research from Parks Associates has found that many as 10% of fitness tracker and smart watch owners have canceled or plan to cancel their gym memberships as a result of using their device. However, new research is showing that high device usage rate of active...
 
by Harry Wang | Dec. 27, 2016
Tags: fitness apps, smart watch, wearable

It's no secret—the wearables market isn't doing as well as it should be right now. According to Parks Associates' estimates, the leading smart watch—the Apple Watch—experienced a YoY sales decline of ~53% in Q3 2016. Even with the Q4 release of the Apple Watch Series 2, Apple may be on track for moderate growth in 2016 relative to its 2015 debut. Compare this to Fitbit, the leading fitness tracker: as per Fitbit's SEC filings, its sales grew 21% YoY in the nine months ending October...
 
New research from Parks Associates shows that among those of child-rearing age, the presence of children at home correlates with higher adoption of health and wellness devices. In general, adoption of wellness/fitness devices is highest among the young, those with high incomes, and those with children living at home. Almost 40% of those ages 18-24 own a wellness/fitness device, compared to 30% of the general population. 41% of households earning $100k or more annually...
 
by Harry Wang | Dec. 26, 2016
Tags: fitness apps


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