The healthcare industry continues to be a hotbed of innovation, with activity driven by telemedicine, real-time diagnostics, smart hospitals and access to digital therapies, and the growing importance of technologies such as artificial intelligence (AI), the internet of things (IoT), augmented reality (AR), robotics and data management practices. In the last three years alone, there have been over 106,000 patents filed and granted in the healthcare industry, according to GlobalData’s report on Artificial Intelligence in Healthcare: Physiological monitoring fitness equipments.
However, not all innovations are equal and nor do they follow a constant upward trend. Instead, their evolution takes the form of an S-shaped curve that reflects their typical lifecycle from early emergence to accelerating adoption, before finally stabilising and reaching maturity.
Identifying where a particular innovation is on this journey, especially those that are in the emerging and accelerating stages, is essential for understanding their current level of adoption and the likely future trajectory and impact they will have.
200+ innovations will shape the healthcare industry
According to GlobalData’s Technology Foresights, which plots the S-curve for the healthcare industry using innovation intensity models built on over 443,000 patents, there are 200+ innovation areas that will shape the future of the industry.
Within the emerging innovation stage, drug delivery device security, microscopic image analysis models, and cellular imaging techniques are disruptive technologies that are in the early stages of application and should be tracked closely. Smart balloon catheters, automated immunoassay analysers, and AI-assisted magnetic resonance imaging (MRI) are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are smart fitness training system and non-invasive physiological monitoring, which are now well established in the industry.
Innovation S-curve for artificial intelligence in the healthcare industry
Physiological monitoring fitness equipment is a key innovation area in artificial intelligence
Devices used for physiological state monitoring are non-invasive and used to test a variety of bodily characteristics, including blood pressure, heart rate, and glucose levels. Patients and fitness athletes can use these gadgets to measure their performance while walking or jogging, and coaches or medical specialists can remotely monitor this data using the internet.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 70+ companies, spanning technology vendors, established healthcare companies, and up-and-coming start-ups engaged in the development and application of physiological monitoring fitness equipment.
Key players in physiological monitoring fitness equipment – a disruptive innovation in the healthcare industry
‘Application diversity’ measures the number of different applications identified for each relevant patent and broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of different countries each relevant patent is registered in and reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to physiological monitoring fitness equipment
Source: GlobalData Patent Analytics
NIKE is one of the leading patent filers in the field of physiological monitoring fitness equipment. Some other key patent filers in the field include adidas and Alphabet.
In terms of application diversity, Inova Design Solutions leads the pack, followed by Lifecycle Technologies and Dentsu Group. By means of geographic reach, Inova Design Solutions holds the top position, followed by Origin Enterprises and Lifecycle Technologies in second and third spots, respectively.
Fitness equipment that can remotely monitor an athlete's performance has proven to be quite useful. Automated health and performance enhancement for athletes would be made possible by technological advancements and the incorporation of artificial intelligence.
To further understand how artificial intelligence is disrupting the healthcare industry, access GlobalData’s latest thematic research report on Artificial Intelligence (AI) in Healthcare.