Patient insight is key to a successful solution
The wearable technology market has come of age, with the emergence of wearables into the consumer mainstream. Products like Apple Watch and Fitbit have set the stage for an acceptance of products that are more focused around specific health outcomes.
Pharmaceutical companies seeking to support patients “beyond the pill” are excited by this opportunity. The wearables market is projected to be worth $25bn by 2019 – so adopting the most effective approach to product development will be critical for maximising returns. Companies must also consider the effect of the wearable technology on the patient and whether it might meet the definition of a regulated medical device.
If more than a decade’s experience in developing digital patient engagement for pharmaceutical companies has taught us anything, it’s that bringing patients into the development process is a fundamental part of a successful project.
Whatever the product, whether it’s a device for blood analysis or an app to promote healthy living, it’s important to engage with potential users as early as possible in the development process, to understand who they are, their environment, their routine, habits and drivers. These are foundational insights which technologists neglect at their peril.
Glynn Godwin, our VP Interactive & Design, shares his thoughts on the wearable technology market with Pharma Market Europe.