Healthcare and fitness are the two segments where wearables are gaining increasing acceptance. Wearables fitness bands are becoming more and more desirable. From general-purpose devices like fitness bands that track steps, calorie intake etc to the more serious diagnostic devices, wearables are slowly getting integrated into the healthcare system.
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Wearable technology companies are addressing several different aspects most prominently lifestyle/active monitoring, smart watches that can connect with phone and provide notifications and medical grade monitoring of one's health.
"In an emerging economy like ours, remote diagnostics and medicine is a huge need. Wearable technology can help by taking most of the diagnostics out of hospitals and into the patient's phones," says Mr Anshuman Singh, founder, RetiSense, a start-up firm developing Stridalyzer, an injury-preventing running wearable (insole).
With innovation and advancements in wearable technology, specifically miniaturization of sensor technology, wireless communication technology, and wearable computational technology has made possible the development of small, light, durable, comfortable, safe and low cost wearable medical devices. "The miniaturization of wearable devices has also enabled clinical monitoring beyond the hospital area, in the home or during outdoor activities," said Ms Shivani Jaiswal, associate manager, IndustryArc, a market research and consulting firm.
At present majority of the companies are offering general purpose devices that offer activity tracking. (e.g. step counts, general estimate of physical activity etc). "However, we are starting to see more purpose-built products and services that fit particular scenarios such as specific fitness activities (running, swimming, golf etc.) and health conditions (e.g. diabetes, neurological disorders, chronic diseases) ," mentioned Dr Alick Law, director of marketing and business development, Sensoria. Sensoria designs, develops, and produces body-sensing wearable devices.