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August 11, 2022

Majority of US consumers intending to purchase wearables are willing to pay more for devices with health and medical features

Parks Associates’ Connected Health Summit features Jasper Health, Omron, Garmin, Becklar, and more speaking about new opportunities for health monitoring

Parks Associates will host the Connected Health Summit virtual session “New Era of Emergency Response and Remote Patient Monitoring” on Tuesday, August 30, 11 AM CT US, to discuss new opportunities for health monitoring, including cardiac conditions, sleep disorders, and safety monitoring for all ages. Event sponsors include ADT Medical Alert, Alarm.com, EarlySense, Johnson Controls, Rapid Response Monitoring, Becklar, and Independa.

Parks Associates finds that 28% of US internet households intend to purchase a wearable within the next six months, and health and medical features are very popular with this cohort. Approximately 95% are willing to pay more for a wearables model if it has advanced health features, including 66% who would pay more for a device that accurately measures blood pressure and can share that information with their doctor.

“Wearables intenders are most likely to pay more for medical-grade vital sign detection, particularly blood pressure, arrhythmia, and blood oxygen levels. There is also high interest in fall detection features,” said Kristen Hanich, Director, Research, Parks Associates. “Likely buyers ages 25-44 are more likely than those in other age groups to be willing to pay more for health-related features, even for fall detection. That said, fall detection is the #1 feature for consumers ages 65 and older.”

“New Era of Emergency Response and Remote Patient Monitoring” features interactive panel sessions, along with a keynote presentation from Adam Pellegrini, CEO and Co-Founder, Jasper Health. The panels "Remote Patient Monitoring: Solving Health Issues in Real Time” and “Wearables for Health: Tech is the New Normal" analyzes new programs developed around remote patient monitoring and opportunities emerging from the growing number of use cases for wearables.

Speakers:


Parks Associates will host additional virtual Connected Health Summit sessions in 2022:


For additional connected health research, download the whitepaper Health at Home: New Era of Healthcare from Parks Associates, produced in partnership with EarlySense®.

To join the conversation, visit www.connectedhealthsummit.com. To request data or an interview, contact Rosey Sera, rosey@parksassociates.com, 972-996-0233.

About Connected Health Summit: Consumer Engagement and Innovation

Connected Health Summit, hosted by international research firm Parks Associates, is an executive conference focused on the impact of connected devices and IoT healthcare solutions on consumers at home. In its ninth year, Connected Health Summit brings senior industry leaders together from all aspects of the consumer experience ecosystems to provide insights on new business models, IoT technologies, consumer behaviors, and deployments relevant to consumer healthcare solutions.

The conference features Parks Associates quarterly consumer readdresses opportunities for new solutions in the care giving and senior markets and the wellness markets. This includes smart home platforms, on-demand services, voice assistants, and wearables, to empower consumers, caregivers, and providers and to meet the growing demand for services in independent living, chronic care management, remote access to care, and wellness and fitness solutions. www.connectedhealthsummit.com

Follow the event on Twitter at @CONN_Health_Smt.