The Rising Adoption of Wearable Devices and Artificial Intelligence in RWD Creates Opportunities in the Market
The use of computers, mobile devices, wearables, and other biosensors to gather & store massive amounts of health-related data has rapidly accelerated. This data holds the potential to better design and conduct clinical trials & studies in the healthcare setting to answer questions previously thought infeasible. Additionally, with the development of sophisticated, new analytical capabilities, we can better analyze these data and apply the results of our analysis to medical product development and approval.

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Real-world data generated from wearable devices & mobile apps and novel clinical trials are transforming the future of the healthcare industry. The role of wearable devices is also emerging in collecting real-world data. Wearable devices are clinically useful for better monitoring real-time, long-term, dynamic & pathological processes. These are convenient for managing chronic illnesses such as cardiovascular diseases, sleep disorders, and cognitive impairment. Recently, there has been a growing adoption of health and wellness devices to track fitness activities, sleeping habits, body temperature, and heart rate.

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In the last few years, wearable device adoption has increased along with the growing adoption of healthcare apps. The wearables industry is constantly changing and continuously evolving. However, the wearables market is still growing and is currently dominated by health, wellness, and activity tracking devices. For instance, in March 2020, Fitbit Inc. (U.S.) launched Fitbit Charge 4, the most advanced health & fitness tracker with built-in GPS, active zone minutes, and sleep tools.