Wearable smart technology puts Finland at the vanguard of health technology! Wearable technologies present innovative opportunities to integrate technology with our bodies, thereby shaping and personalizing the future of healthcare.Finland poised to take leadership position. Why is this Good for Finland?

1. Wearable Technology - The Future of Human Health
Kratzman, Le Dain, Mure
Finpro London and Stamford 24.6.2015

2. Executive Summary
• Wearable technology estimated to be worth $42 billion within five years, promises to revolutionize marketing, retail, fitness, and
medicine as it grows at 35% compounded annually.
• Finland can capitalize upon its integrated digital and mobile heritage. Finland’s infrastructure is ahead of the rest of the world -
now is the time to exploit Finnish brainpower and its innovation warehouse for wearable technology.
• Global leaders – Apple, Samsung, Microsoft, Google, Sony, GE, Pfizer, Astra Zeneca, Abbott, Michael Kors, Ralph Lauren, Ford,
BMW, Volvo and others are integrating wearables and health sensors into their business models.
• Medicine is in transition and care delivery will happen at home by consumers connected to their doctors through wearable
computing.
• This new balance between work, life, and health is an irreversible process, and wearables will impact the mobile and healthcare
industries as it continues to reach into everyday life - wellness, fitness, health and hospital at home, the military, and
infotainment.
• Current major applications of wearable devices in healthcare include BP monitors, CGM devices, Smart Glasses, PERS, insulin
pumps, ECG monitors, hospital and home bed and floor monitors, baby monitors, and the list goes on. But as healthcare moves
into homes, workplaces, schools, etc., these and other devices need to be less institutional and more lifestyle designed and
operational.
• Smart devices are the fastest-growing element of the “internet of things”, the linking of everyday objects to the internet so they
can collect and receive information from other connected devices and web-based services. This is Finland’s “sweet spot”
• Data privacy and data traffic management is a challenge for the market, so a new layer of complexity and need exist.
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3. Key Wearable Themes
1. Bio-Tech Fusion
2. Synced Lifestyle
3. Organic Computing
4. Human Enhancement
5. Health Empowerment
6. Personalized Context
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4. Demand and Drivers
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• Wearable technology devices currently encompass the following categories: fitness, wellbeing and lifestyle
activity monitors, wearable patches, implantable devices for drug delivery, sleep sensors.
• Wearable technology presents an opportunity to find exciting ways to integrate technologies with our entire
bodies thus personalising our relationship with technology.
• Every fifth adult in the US and Europe is involved in regular fitness activities. The fitness and wellbeing market
grows 15% annually. 11% use a wearable device; 14% use a smart phone app. 10% of American adults own an
activity tracker. The fitness mobile applications market grows 60% annually.
• 90m wearable Computing devices will be shipped in 2014 driven by sports, health and fitness (ABI Research)
• Gartner predicts that 52% are currently considering purchasing wearable technologies.
• A report from Juniper Research indicates that global retail revenue from smart wearable technology is
estimated to be worth $8.4 billion in 2014. This will treble by 2016, before reaching $53.2 billion by 2020.
• The market will be driven by an increase in
smart technology in the following key areas:
• Health & Wellbeing
• Sports and Fitness
• Biotech Medical Fusion
• Smart Fabrics and Textiles
• Augmented Reality
• Smart watches
• Smart glasses
Euromonitor International Analyst Survey (January 2014).

5. Demand and Drivers
• Global giants cannot innovate fast enough or by themselves. New ideas and technologies have to
come from outside their companies. Finland has a wealth of talent in this area related to Big Data,
Biotech, remote monitoring, cyber security, robust portable devices.
• Increasing life expectancy rates and significant shifts in societal needs and evolution. Growing
demand for preventive, personalized medicine, long-term care solutions, healthful lifestyle for all
ages, and care anywhere are the major drivers for the growth of wearable technologies
• The growing need and demand for portable devices, for real time data analytics, patient
satisfaction, and reductions of the cost of care are further driving the growth of wearable
technologies. Most of the devices to date have evolved from the fitness, healthcare, and mobile
industries
• The global medical community is seeking wearable and mobile technologies to maintain and grow
its patient base. Over 5,000 hospitals in the the US and over 100 health insurance companies
need wearables to maintain and grow profits, while maintaining the health of their patients and
subscribers.
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6. Demand and Drivers
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• Activity trackers will continue to be the most popular wearable device as people carefully monitor their activity levels and
energy output. Concerns around weight management and even obesity are the prime drivers behind this wearable device
type (source ABI Research)
• The main technological challenges to overcome are related to battery (30%), user interface (16%), applications (14%) and
display technologies (12%). 90% think that it is very important to have touch user interface in the wearable device (source
“Future of Wearable Touch Devices”, Canatu). This is a key driver for Finnish development expertise.
• Many of the recent technology developments in the sector have come from start-ups and smaller companies. Key players
have begun focusing on supporting platforms such as Google’s Android Wear, Samsung’s SAMI data architecture or Intel’s
Edison design platform. This has enabled the key players to respond easily to new device developments, rather than
developing the devices themselves. This will be a key driver for partnering with Finnish technology talent.
• The global medical community is exploring ways to use wearables to improve care delivery. A key deliverable is the
empowerment, education and involvement of the patient and will enable vastly improved and coordinated medical care
delivery. For medical purposes, wearable will expanded to implantable and digestible (biosensors) to facilitate:
• Increased patient engagement
• Closer communication between patients and medical service providers
• Tailored patient services
• Reduced cost of care / improved efficiencies
• Improved decision-making

7. Demand and Drivers
• The worldwide wearable computing market has expanded beyond early adopter status
to more functional and stylish lifestyle accessories.
• The medical community is now exploring ways to use wearables to improve care
delivery. It is not so much about the data and tools but rather the empowerment of
the patient, the education of the patient, the involvement of the patient, and
integrating the patient and doctor through coordinated care delivery. Care delivery is
the key and wearables are catalysts.
• Wearable have expanded to wearable, implantable, and digestible. It is about
biosensors and health integration - key areas of Finnish expertise.
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8. Demand and Drivers
• Venture funding of biosensors and wearable technology increased 5X from 2011-2013—
more than double the growth of digital health overall during the same period. The merging
of these two spaces into a singular category — biosensing wearables — is where we see the
most potential to impact healthcare.
• Every fifth adult in US and Europe is involved in regular fitness activities, number of people
practicing active and healthy lifestyle constantly grows. Thus fitness and wellbeing market
keeps growing 10-15% yearly, with value of USD 55 billion reached in 2012.
• At the close of 2014, the US accounted for roughly 80% of the global wearables market; but
use data trends predicts that wearables will follow global fitness trend with the UK
becoming the most important European market
• Booming mobile apps market responds to growing healthy lifestyle popularity with
spectacular 60% growth of fitness mobile apps market segment (with estimated value of
USD 250 million in 2012). ON World called 2013 “a remarkable” year for mobile apps for
sport and fitness, as this market segment gained USD 800 billion in venture investments in
2013. That enormous interest to the segment makes value forecasts quite difficult, experts
estimations vary from UDS 1 to 26 billion by 2017.
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9. What is the Opportunity?
• Multiple ways to engage the market:
• Health & wellbeing
• Sports & fitness
• Biotech medical fusion
• Smart fabric & textiles
• Smart home, cars, institutions
• Smart watches & jewelry
• Smart glasses
• The medical community is exploring ways to use wearables to improve care delivery:
• Increased patient engagement
• Closer communications between patients and medical service provider
• Tailored patient services
• Reduced cost of care /improved efficiencies
• Improved decision making
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10. Why is this Good for Finland?
• Wearables represent a natural market for Finland, Finnish expertise & talent. The main
technological challenges to overcome are:
• Battery relate (30%)
• User interface (16%)
• Applications (14%)
• Display technologies (12%) (Future of Wearable Touch Devices, Canatu)
• Many of the recent technology developments come from startups and SMEs. Many of
the multinational players are watching startups and SMEs, thereby creating potential
partner, business, and financial opportunities for Finnish companies & talent
• The US is coming to Finland. Startup Health will open its first overseas office in
partnership with GE Healthcare and Team Finland
• In essence, wearables is a market created by and for Finland. Now is the time for
Finland to re-assume its leadership role
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