Nowadays, it is nearly impossible to walk down the street without seeing somebody sporting a healthcare wearable. With sales surging at an annual growth rate of 25%, and an impressive $5.1 billion market value, it appears that the healthcare wearable industry is stronger than ever. However, these statics fail to recognize that such wearables are tossed aside by consumers within six months of purchasing. This lack of long-term value can be attributed to a variety of causes, many of which revolve around companies over-complicating their design, ultimately leaving consumers feeling overwhelmed. Further, the clash between fitness trackers and medical wearables is of major concern. In attempt to avoid strict FDA regulations and present shareholders with expedited revenues, companies are dubbing their products as consumer devices used solely for personal tracking. Although this cranks out sales figures more quickly, there is a strong market for medically approved devices, which in turn will lead to long-term use and profitability.
Interested in learning more about the healthcare wearables market? To read Reenita Das’ article from Forbes, click here.



Health beliefs are predisposing characteristics that are not easily changed.
Developing Specific Targeted Strategies
Taking an inclusive stance toward LGBT consumers can influence non-LGBTs, especially Millennials. Most of us are aware of the fact that Millennials are the most diverse consumer segment we’ve ever seen. And Millennial culture includes respect for and appreciation of diversity, including LGBT. According to Pew, 70% of Millennials support LGBT marriage equality – the highest of any generation. Brands today are taking note of this cultural value and using it as a way to gain sales and share among Millennials. This works particularly well for established brands that are trying to shed an image of being “dated” or not relevant to today’s consumer. Two brands using this approach are Coca Cola, who ran an ad during the Olympics that was a celebration of diversity, including LGBT, and Honey Maid’s This is Wholesome campaign featuring tattooed, interracial, and gay parents in their modern take on the American family. Healthcare could benefit from this more modern image, courtesy of a supportive take on LGBTs.
Narrow Impact: Fee-for-Value
Broad Impact: Patient & Lifestyle Autonomy
