Wearable tech has become commonplace, with unit shipments reaching 560 million globally. These gadgets, including smartwatches, fitness trackers, and headphones, collect data through sensors, share information with other applications, or connect to the internet. The main reasons for buying wearables in Singapore include concerns about well-being, health monitoring, fitness tracking, more accessible access to smartphone functions, and a desire to own smart devices.
The Southeast Asian wearable technology market is increasing, especially in the healthcare sector. The COVID-19 pandemic made citizens more health conscious, focusing on tracking their movements, heart rates, and sleeping patterns, amongst other aspects of their lives. The young and tech-savvy populations also have more disposable income to spend on new tech. Moreover, some wearables fit well in the fashion world, making them functional and fashionable.
Many people in Singapore admit to using smart wearables daily, while others wear the devices several times a week. Smartwatches and earwear are the most common wearables, with manufacturers like Samsung, Apple, Huawei, Fitbit, and others, such as these five local startups are driving innovation in the wearable technology sector.
These startups are revolutionising how we monitor our health and fitness and are paving the way for future advancements in healthcare and technology.
Cove
End-to-end smart IoT wearable solution Cove empowers customers to embrace healthier lifestyles. It enables partners to design and launch wearables from its range of products with solutions to help track vitals and share them with loved ones. The one-touch platform allows users to initiate doctor consultations and access telemedicine.
Furthermore, Cove adds gamification features like rankings and badges to keep users engaged when using smart products. It is a registered brand of KaHa Pte Ltd, a company acquired by Indian-based earwear audio-tech brand boAt in 2022. Its structural capabilities ensure that it can guide its partners and save them time getting products to the market quickly.
Us2.ai
Singapore's Agency for Science, Technology and Research (A*Star) supports Us2.ai, a cardiovascular research platform. It democratises access to echocardiograms, which are vital for spotting heart risks. People in resource-constrained areas can get access to inexpensive echo analysis.
Us2.ai uses AI as a support tool to detect heart failure, coronary heart disease, cardiac structure and function, and cardiac amyloidosis. It also provides real-time image processing and analysis with more accuracy and fewer variables than human measurements. In 2022, it raised USD 15 million from investors like IHH Healthcare and Heal Partners to expand its reach and automate cardiovascular disease detection.
Kinexcs
People experiencing mobility problems can try Kinexcs, an AI-driven digital health platform and wearables company. It accelerates recovery by guiding patients through rehabilitation, empowers health enthusiasts to reach their fitness and healing goals, and personalises solutions for each individual, providing affordable services.
Kinexcs believes in transforming recovery for stronger, healthier joints for its patients, all from the comfort of their homes. Since 20-33% of the world population is affected by musculoskeletal conditions like aching joints, injuries, and pain, it assesses the problem and creates a personal digital therapy plan, with continuous monitoring through smart wearables until complete recovery. The startup is now part of ParticleX (Particle Accelerator), a Hong Kong-based tech startup investor and innovation enabler.
Respiree
Remote care solution Respiree provides data-driven healthcare transformations through its all-inclusive cardio-pulmonary platform. It uses AI, a wearable biosensor, a streamlined clinician dashboard, and a patient-facing mobile application to predict and improve patient outcomes.
Respiree's products include a chest wearable for real-time pulmonary biomarking and a finger sensor for measuring oxygen saturation and pulse rates. The phone app can also track personal health and medication, provide reminders, schedule follow-up visits, and more. It has now expanded to other areas, such as the United States, to deliver its solutions.
Biorithm
Medical technology platform Biorithm offers maternal healthcare solutions. Women have unique clinical needs and sometimes may need complex care. The startup grew out of Singapore's Nanyang Technological University and involves providing affordable treatment, leveraging digital health and sensors, and ensuring data-driven decisions on women's health.
Biorithm's product Femom Lite allows doctors to monitor and manage pregnant women's care remotely. It enables preliminary assessments, virtual visits, and more to provide home care for prenatal and postnatal patients. The Femom Fetal Monitor offers blood pressure testing, glucometers, and ECG monitoring, such as foetal and mother heart rate checks and uterine contractions. Biorithm raised USD 3.5 million to expand its services.
Singapore is the ideal place to launch innovative wearable tech because its citizens adopt technology quickly and love the convenience of smart wearables. Data management and privacy concerns remain, but they are addressable with transparency and robust security features on all products.
Investing in wearables in Singapore ensures startups can afford to conduct research and development (R&D) to innovate much-needed solutions. The Singaporean government plays a significant role in supporting the wearable tech sector and providing funds and support for startups. Stakeholders should continue working on the Ease of Doing Business to attract more investors and encourage the government to provide more funds and support for the wearable sector.
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