2 Smartwatch Manufacturers Banking On Big Health

Apple In Apple's most recent quarterly earnings back in July, wearables were surprising winners, with Apple Watch sales rising 50% It is estimated that Apple holds roughly 50% of the market share for smartwatches, selling close to 15 million units in the third quarter of 2019 Fast forward to 2019, and the Apple Watch Series 5 has electrocardiogram functionalities to monitor heart health - including the capability to spot cardiovascular irregularities - menstrual cycle tracking, an app to monitor dangerous noise levels to protect users' hearing, stress-reducing breathing exercise apps, diabetes-aid apps to track sugar levels, and much more.

In the beginning of October, private Medicare plan Devoted Health became the first healthcare provider to cover Apple Watch as a benefit, helping members pay for the cost of the device up to $150 In an increasingly health-conscious world, Apple's budding Watch business may see substantial growth as its technology becomes more relevant to healthcare Perhaps there may even come a time when the iPhone is a secondary product to the Apple Watch and its Health apps.

With Apple making a massive push into the services industry, its Health segment may well be one of the company's key offerings Unlike Apple, Fitbit has struggled to regain the dominance it once held over the smartwatch market The company doesn't have the resources, brand power or diversity of Apple, and for all intents and purposes, Fitbit really just makes fitness trackers and, apart from a subscription health service, doesn't have a whole lot more to offer. Source