Suffocating employee healthcare costs and a growing push to extend healthcare services into proactive health management are driving wearable wireless devices into corporate wellness programs. A new study by ABI Research finds, over the next five years, more than 13 million wearable devices with embedded wireless connectivity will be integrated into wellness plans offered by businesses.
Corporate wellness is increasingly being targeted by a mix of specialist and consumer focused device vendors and competition will also extend to software applications on mobile devices. Vendors including FitBit, BodyMedia, FitLinxx and others are all developing contrasting products and strategies with an eye to the corporate wellness market; however, device adoption will not just be about device characteristics. Adoption will be dependent on forming the right partnerships with existing players already in the corporate healthcare management space.
“While some device vendors are hoping that strong consumer awareness will drive corporate wellness adoption for their products, they also need to understand and focus on the most influential parts of the healthcare value chain,” says Jonathan Collins, author of the new study. Healthcare insurance company, healthcare providers, VARs, and the corporations providing wellness programs will all increasingly have a role to play in the adoption of wearable wireless devices.
“Vendors who see the potential of the space are uncertain how best to deploy their resources to reach this emerging market,” adds Collins. “Success will come to the vendors that can meet a range of requirements demanded in the corporate wellness market as well as applying their resources to maximize the value of their sales strategies.”
The report “Wearable Wireless Devices in Enterprise Wellness Programs” examines the social and economic drivers supporting the integration of wearable wireless device adoption in corporate wellness programs as well as the key value chain players and their emerging roles. Forecasts in the study examine varying demand for a range of wireless protocols as well as market demand by region.
These findings are part of ABI Research’s mHealth Research Service, which includes Research Analyses, Market Data, Insights, and Competitive Assessments.