Long COVID is defined as new or ongoing COVID-19 symptoms that persist for 12 weeks or more. Long COVID has also been called as “post-COVID-19 syndrome” or “ongoing symptomatic COVID-19” or post-acute sequelae of SARS-CoV-2 infection (PASC).
Those individuals who have been exposed the virus and have persistent symptoms from COVID 19 are called “long haulers”.
Long haulers are classified as individuals who have not fully recovered from COVID-19 weeks or even months after initial exposure. There are at least two types of Long COVID case profiles emerging.
In some cases, long haulers experience continuous symptoms for weeks or months after contracting the virus. In other cases, COVID 19 symptoms disappear after infection but then relapse weeks later with old or even new symptoms.
The many iterations of symptoms that linger on for weeks to months, the medical wearables space could be the beneficiary by providing much needed monitoring technology that can help clinicians track and identify solutions to Long COVID.
The Expanding Medical Wearables Market
Despite predictions of robust growth for the consumer medical wearables sector, the industry is today highly dependent on a young, affluent clientele in search of data to optimize already impressive fitness outcomes. Lifetime customer value is limited by a hobbyist orientation.
Research suggests some 118 million people will soon need to manage the symptoms of post-COVID-19 syndrome, which has entered the popular lexicon as “long COVID.” These individuals, who are older but mainly come from rich countries, have the potential to substantially expand and deepen the market. To reach that potential, medical wearable manufacturers must prepare to meet a new set of needs
Producers and Consumers Have Very Different Views of Medical Wearables
The medical wearables industry is expected to grow to $24.38 billion by 2025. Research suggests a CAGR of 24%, reflecting a return to normal operations after COVID-driven disruption. But the effects of COVID aren’t limited to the operational level. They may also suggest new strategies and business models.
For investors and entrepreneurs, medical wearables are attractive because they have the potential to capture robust predictive data, transitioning toward a service-driven model built on recurring revenue. Higher quality and quantity of data create the opportunity to transform chronic disease management.
On the consumer level, however, the perception of medical wearables is very different.
Wearable fitness trackers have consistently outpaced other types of medical wearables in consumer awareness and adoption. Fitness trackers like Fitbit offer comparatively simple and straightforward information on activity levels, heart rate, and sleep stages.
Of approximately 67.1 million Americans using wearables in mid-2021 – some 20.2% of the population – the majority used a fitness tracker or smart health watch. Overall use was up by about 1.2% versus late 2019. A 2021 consumer electronics study described 63% of respondents using such a device.
Interest in Fitness Wearables Is Widespread, But Many Users Drop Out
Despite rosy projections within the industry, medical wearables targeted at consumers rather than large institutional buyers have a fundamental problem to overcome: They are a lifestyle product. It’s easy for the product to fall by the wayside over time because the average user is, in effect, an optimizer. Their motivation to continue collecting and acting on data is limited, thus limiting lifetime customer value.
Consumers “who use fitness trackers often, and who continue to use them, tend to be fit already,” says Men’s Journal, reporting on a 2017 study from the University of Pennsylvania. A full 80% of activity tracker users stick with their chosen device or app for at least six months, but what happens next?
With leading fitness tracker Fitbit sustaining a $30 billion revenue decline in 2020 compared to 2019, and long-standing questions about how to count active users, it seems the answer is that many drop out.
For medical wearables to deliver sustainable long-term growth in the consumer segment, they must grow beyond motivated fitness hobbyists and make inroads with new buyer categories.
The unified effort to return to normal following the pandemic just may hold the answer.
Is Long COVID a Problem in Search of a Medical Wearables Solution?
As the omicron surge subsides and the global COVID-19 response pivots to an endemic phase, physician-researchers are raising the alarm about a medical mystery that might endure far beyond the pandemic: Post-COVID-19 syndrome, now popularly known as “Long COVID.”
According to research by Penn State University, more than half of the 236 million people worldwide who have been diagnosed with COVID-19 since December of 2019 will experience symptoms that persist up to six months after they no longer test positive for the virus. It is not known what separates these “long haulers” from others, nor is it possible to say how long these effects can actually last.
The PSU study was based on a systematic review of 57 reports including data from more than 250,000 unvaccinated adults and children. Despite their vaccination status, the majority of those studied (79%) came from high-income countries. Median patient age was 54, and the majority were male.
In comparison to today’s most diligent user of consumer medical wearables, the long COVID patient is anywhere from 20 to 30 years older – closer in age to the mere 0.1% of those over age 65 now using a fitness tracker.
With more media stories and public awareness of the potentially debilitating effects of long COVID, that user is also motivated not simply to drop a few pounds, but to maintain quality of life.
This cohort of some 118 million people, including about 39.55 million here in the United States, have the potential to move the market in all-new directions. All they need is an industry innovator willing to meet their emerging needs for relevant personal health data.
Medical Wearable Technology Is Equal to the Task of Monitoring Long COVID
Wearable blood pressure monitors, blood oxidation monitors, and ECGs are all current offerings in consumer medical wearables. At present, these devices have only a small footprint in comparison to mainstream fitness and sleep trackers. Now, they have the potential to form the basis of an all-new product category in response to long COVID, the biggest health story of the next five years.
Post-COVID-19 syndrome symptoms can include:
- Fatigue
- Headaches
- Difficulty breathing
- Joint and muscle pain
- Problems with memory, concentration, and sleep
- Irregular heartbeat
- Fever
- Dizziness
- Skin rashes
Healthcare professionals recognize pain as the ultimate unclassifiable, a subjective experience that so far only yields to direct reporting. However, respiratory and cardiovascular difficulties fall within the wheelhouse of today’s devices. Continuous monitoring may help consumers understand significant correlations – symptom triggers – allowing them to improve independence and quality of life.
Public health experts accept that COVID-19 is unlikely to ever be eradicated. Adults who experience long COVID can be expected to be far more likely than others to take preventive measures, in the same way that older people are more likely to get vaccinated than the general population. Knowing this, future wearables with the potential to monitor signs of infection will also be highly attractive to this group.
Much like the COVID 19 lockdown in early 2020 forced healthcare providers to fully embrace telehealth, the realities of Long COVID may be the catalyst that will boom the medical wearables business.
JP Boyle & Associates is a medical device executive search firm serving medical wearables clients in North America, Europe, Asia and the Middle East.
