The whole area of wearables targeting health monitoring is exploding, with the ongoing pandemic most likely fuelling the interest of markets. At CES 2022 several companies are presenting their wares with competition being played on style and insight. At the core are sensors able to detect more and more physiological parameters. These sensors are embedded in a variety of wearables (style) and provide data that are analysed in various ways (mostly using AI and Machine learning) to deliver information on what might be going on (insights).
Movano is showcasing a ring (see the photo) that promises to go a step further than the Oura Ring (watch the clip) presented in 2021, able to pick up data on sleep, heart rate, heart rate variability, activity, respiration, temperature, and blood oxygen (with future versions promising to pick up blood sugar and blood pressure). They have not announced the pricing policy, nor the price. The Oura ring is priced at 299$ plus a monthly subscription (5.99$ a month). From a technology standpoint it is a very good deal considering all the sensors it embeds and the kind of function tracking it delivers. However, from a user’s viewpoint the price, and in particular the subscription may be hard to swallow.
Movano promises a ring whose data can support a more accurate analyses of your wellbeing, keeping track of how your physiological data change in different situations (have you had a few glasses of wine? How is your heart beat reacting to that? How did it react a month ago in a similar situation?) and you can share these analyses with your doctor on the next visit or just share them every week (assuming your doctor is willing to look at them periodically). The software can be programmed to raise an alarm (ring a bell) in case it detects some, potentially dangerous, anomalies n the data detected by the ring.
The wearable market for healthcare devices has reached 16.2 billion $ in 2021 and it is expected to grow to 30.1B$ by 2026 (almost doubling in 5 years). The smart ring market represents a tiny fraction of the overall wearable market, projected to reach 32 million $ in 2025. It is competing with smart watches that will increase their sensing capability over the coming years.