Wearable Tech Goes Mainstream: 5 Key Trends in Wearable Data

Wearable technology is taking the world by storm! With 39% of Americans owning a smartwatch or fitness tracker, it's clear that these devices are becoming more and more popular. At the same time, wearables are constantly improving their data collection capabilities; that's why digital health and InsurTech companies are leveraging the increasing amount and quality of wearable data to provide personalized care and empower users.

In light of the increasing importance of wearables in our daily lives and the healthcare systems, we will explore the top 5 trends in wearable data for digital health and InsurTech companies based on the latest industry information.

1. Beyond Heart Rate

Wearables are becoming increasingly complex and able to provide hyper-personalized metrics. Gone are the times when a wearable was only a heart rate monitor, a pedometer, and a watch. Nowadays, most devices can measure a wide range of health parameters like sleep quality, calories, VO2 max, breathing quality, and even menstrual cycle data.

These new capabilities are a huge leap for the health tech industry since it allows them to integrate a wide array of metrics to generate hyper-focused reports and recommendations to their users.

2. Big Tech Joins In

One phenomenon that explains the sudden rise in the adoption of wearables is that big tech companies are joining in, pouring a lot of investment money and human resources into their wearable departments. From Apple to Google and most of the major smartphone manufacturers in the world, the tech world is increasingly involved in developing better, more capable wearables. This trend only means that during the next five years, everyone will have access to extremely powerful wearable hardware that will enable us to connect to health and insurance providers constantly and seamlessly.

3. Insurance Tech Is On The Rise

Insurers are now using wearable technology data to improve their offerings. By analyzing objective and continuous data on individuals' health and activities, insurers can personalize insurance plans, adjust premiums based on individual risk profiles, and even offer discounts or rewards for maintaining a healthy lifestyle. This data-driven approach benefits both insurers and policyholders, promoting healthier choices and enabling fairer pricing based on actual health data. The entrance of insurance companies into the wearable data game could be a huge factor in prevention-based healthcare, as the users will benefit largely from adopting healthy behaviors that will drive down the prices of their policies.

4. Biosensors Enabling Remote Care

One of the most significant advancements that wearable biosensors allow is the rise of telemedicine and, more importantly, the ability to monitor patients' bio-data constantly and in real-time. This is one of the primary ways wearable data can play a significant role in improving health outcomes since it facilitates preventive care and early interventions. By analyzing the data collected by wearables, digital health and insurance companies can identify patterns, detect potential health risks, and provide timely interventions to individuals. This proactive approach can lead to better health management, reduced healthcare costs, and improved overall well-being.

5. Turning Data Into Actionable Insights

With the increasing adoption of wearable technology and expanding data collection capabilities, a new set of needs is emerging: software services that help users interpret the data and turn it into actual recommendations. Wearables are increasingly focused on providing the user with usable, actionable data. This trend is also helping healthcare providers offer ultra-personalized care and predictive analytics that ultimately can drive better health outcomes for the end user.

The future of digital health and wearable data is incredibly promising. With the emergence of augmented reality, non-invasive devices, and predictive analytics, we have the opportunity to unlock exciting possibilities for wearable technology. By empowering end users through actionable insights and leveraging diverse data points for predictive analytics, we can pave the way for preventive care strategies that can significantly impact healthcare outcomes. These emerging trends are set to play a vital role in shaping the future of digital health, and we are excited to be a part of this transformational journey. It's a thrilling time to be alive!