One out of every five Americans uses wearable technology

Wearable refers to the set of appliances and electronic devices incorporated somewhere in our body that continuously interact with the user and with other devices to perform a specific function. SmartWatches, sports shoes with built-in GPS and bracelets that monitor our health are examples of this type of technology increasingly present in our lives.

Technology companies increasingly showing more interest in digital health and mobile technology, although both the consumer and the health system are still is the process of becoming accustomed. A report by the Health Research Institute (HRI) of PwC, in collaboration with the Consumer Intelligence Series (CIS), collects information from this first stage of wearable technology, and accompanies it with findings from objective data, interviews with technology experts and the results of a survey on 1,000 US consumers.

The report highlights the fact that between January and June 2014 more was invested in digital health and wearable technology than throughout the whole of 2013. Of this investment, $200 million were specifically earmarked for the development of wearable devices. It also cites Ian Clark, CEO of Genetech technology leaders, who at the Rock Health innovation summit said wearables "are pretty trivial at the present time." To better understand the market situation, the potential of this technology and consumer preferences, the report draws a number of conclusions from the current situation and its potential.

Video: Spotlight on the Future Wearable, PwC

Amongst the most important data is the fact that one in five Americans has bought wearable technology at some point and that one in ten uses it every day. PwC believes these still very incipient data, though representing the public interest, and argues that an increase in their use would not only be beneficial to consumers’ health, but also to the public health system. The survey also shows that consumers are unwilling, for now, to invest in such devices; in contrast, 68% of respondents would be willing to wear a wearable and share their anonymous data in exchange for incentives from the distribution company.

Privacy is one of the issues of most concern to users of digital health and few showed interest in sharing their health data in social networks. PwC proposed absolute transparency (making it very clear to the user what will become of their information, how it is transmitted and why) as a solution, and also a compensation system. For example, in the United States, if a user shares their data fitness wearables with Walgreen Co. supermarkets, in exchange they get points they can accumulate use to shop in the store.

Have a look at the rest of the infography.

What's the future of wearables?

Some medical centres are now beginning to incorporate Google Glasses to collect information from their patients, others prescribe previously approved wearable technology and apps (such as the Oschner "O Bar"). Apple is also about to launch a watch that incorporates many of the features that other apps and devices have so far provided separately (constant monitoring, tracking of exercise you do and even recording and sending the sound of your heart).

PwC supports the conclusion that much remains for wearables to become a standard device in our society. Ideally, due to their effectiveness and their unobtrusiveness for users, the data collected by these devices should be able to be encrypted and shared more easily (between devices and between patient and physician) than now. More work should be done to achieve both maximum interoperability of their system and the best functionality. This is the time to learn from our mistakes and successes and gradually build a new technology that, in the future, might revolutionize the health system.