CTA projects 2017 wearable health sales will grow by 19%
SAN FRANCISCO — Advances in measuring, reporting and enhancing our personal health data will revolutionize our own health, according to tech experts at the Consumer Technology Association's Health & Fitness Technology Summit. Held on the first day of CTA's Technology & Standards Forum here, the Summit featured technologists from health and fitness leaders including Alphabet, Fitbit, Nokia and Philips participating in panels and working group meetings to discuss how tech is changing our lives for the better.
"I truly believe medical grade wearables are the future of mainstream healthcare," stated Ravi Kuppuraj, chief architect and venture owner, Philips Connected Sensing and Wearables Venture, during the day's keynote address. "There is a huge opportunity here. The timing is right, the technology is coming together and there are the right clinical reasons to do this."
As the role of consumer health and fitness technologies evolves across the medical industry, by 2020 the U.S. could reach a "critical mass" of physicians using patient-generated data from devices such as wearables, according to CTA's 2017 report, Wearable Health and Fitness Technology in U.S. Medical Care.
"One of the key themes of the Summit is that health and fitness tech makes it easier and more meaningful than ever for consumers to make smart decisions about their health," said Brian Markwalter, SVP research and standards, CTA. "Connectivity is one of the driving trends of our time, allowing healthcare to become more personalized and more effective. Wearables and the software supporting them provide actionable, customized advice - that empowers consumers to lead healthier lifestyles and allows physicians to better work with patients to manage chronic conditions."
The Forum also examined current and future guidelines for physical activity and mobile health approaches for measuring and reporting physical activity. Specifically, experts explored how the consumer technology industry can support these efforts through additional industry standards.
"We have an exciting opportunity for consumer technology to help us live healthier lives, to engage people in their wellness and have a real impact on healthcare in many areas," said Matthew Diamond, chief medical officer Nokia Technologies. "Recent advances in technology, including sleep tech, allow us to gather reliable data with consumer products, to help users discover insights into their behavior over time and the relationship between their sleep, activity, heart health, and overall well-being."
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According to CTA's U.S. Consumer Technology Sales and Forecasts report, health and fitness technology will see record U.S. sales in 2017. CTA expects sales of 37 million units - a nearly 20% increase over 2016 - and earnings will increase 19% to $3.2 billion in revenue.