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Wearable health devices are a novelty that wear off

Lucas Mearian | Oct. 24, 2014
Once the novelty wears off, people abandon their health wearable devices, many of which require regular syncing, powering up and other steps needed to keep them running.

Forty-six percent of those surveyed said they believe wearable tech will reduce obesity by enabling the monitoring of nutrition and exercise. Another 42% believe the average person's athleticism will improve "dramatically" as wearables allow people to fine-tune exercise progress.

PwC's analysts agreed.

"As consumers begin introducing these devices into their daily lives over the next five to 10 years, they should begin to gain better control over their health and related healthcare costs, changes that will ripple into the $2.8 trillion U.S. healthcare system and help shape the New Health Economy," the said stated.

Though consumers aren't familiar with most health wearable products, half of those surveyed said they're "very" or "somewhat" likely to buy one in the next year. Consumers indicated less interest in buying smart watches (35%), smart (sensor-equipped) clothing (20%), smart glasses (19%) or people-tracking devices (13%).

Those who did buy wearable tech tended to be young males between 18 and 34. Meanwhile, the next wave of fitness band buyers were more likely to be older females, from 35 to 54 years old, PwC found.

Price remains a sticking point. Even if devices were priced at $100, only 38% of those surveyed said they'd be very or somewhat likely to purchase one. When the price hits $300, the numbers drop to just 5%.

 

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