‘Health tech’, such as robots that help the elderly walk, will become a 666 trillion won market in 4 years

2024-05-06 23:11:40

[2024 서울헬스쇼]

Wearing a sleep-exercise prescription ring
AI-based lip diagnosis-management, lip cure beam, etc. Cognitive-sensitivity care centered on muscle strength support
“Personalized customization is common… “Information needs to be protected”

A man and a woman are walking while wearing ‘Wim’, a wearable robot created by Korean startup Wibotics. You can make your steps lighter to make it easier to walk, or you can make your steps heavier to exercise your muscles. Provided by Upobotics

Last month, Korean startup Wibotics introduced ‘Wim’, a wearable robot that helps the elderly walk and strengthens lower body muscles. It works by wearing a rectangular box containing a battery and motor on your waist and fastening the belts attached to the ends of the two bars connected to the box to each leg. ‘Assistive mode’ makes your steps lighter to help you walk, while ‘exercise mode’ makes your steps heavier to strengthen your leg muscles. Artificial intelligence (AI) estimates walking speed, stride length, and balance to evaluate walking ability and recommends the mode to use. Upobotics won the Innovation Award at ‘CES 2024‘, the world’s largest information technology (IT) and home appliance exhibition.

As interest in healthy living increases due to low birth rates and aging population, ‘health tech‘, which improves health and overcomes disabilities through technology, is attracting attention around the world. A variety of new technologies are being developed, ranging from wearable robots to rings and glasses.

According to global market research firm Market & Market on the 6th, the global market size of health tech will grow at an average annual rate of 20.7% from $230.56 billion (approximately KRW 314 trillion) this year to $488.89 billion (approximately KRW 666 trillion) in 2028. It is expected to grow. “North America was the largest region in the health tech market last year, and Asia Pacific is expected to be the fastest-growing market,” Market & Markets said.

Samsung Galaxy Fit

Large domestic companies are also actively developing health technology. Samsung Electronics monitors the user’s heart rate through its smart watch Galaxy Watch and activity tracker Galaxy Fit and sends a notification when an abnormality is detected. Samsung Electronics plans to release the ‘Galaxy Ring’ within this year. Going further than a watch, the plan is to track sleep and suggest appropriate exercise through a ring that can be worn 24 hours a day. LG Electronics previously unveiled the ‘LG Chloe Suitbot’, a wearable robot that reduces the physical labor burden of workers at industrial and logistics sites in 2018. LG U+ launched ‘Dapda (Diary with Reply),’ an app service that uses generative AI to lead to psychological treatment. Amore Pacific unveiled ‘Lip Cure Beam,’ a lip diagnosis, care, and makeup product that incorporates AI.

Vuzix Ultra Light S

Among overseas companies, Vuzix Corporation is considered a competitive company in the health tech market. This company, which designs and manufactures smart glasses and virtual reality (VR) and augmented reality (AR) technologies, has received an innovation award at CES every year from 2005 to this year. In particular, this year, they attracted attention by releasing smart glasses that use a micro light-emitting diode (LED) display to produce clear and transparent images like a smartphone screen, but are also light in weight.

French company Withings released a device called ‘BeamO’. Beamo is a type of biometric scanner that combines four medical tools, including a stethoscope, oximeter, electrocardiograph, and thermometer. It is light and sized to fit in one hand, making it easy to carry around on a daily basis.

According to the Korea Institute of Science and Technology Information (KISTI), the domestic health tech industry, which was focused on rehabilitation, treatment, and strength support, is developing in the direction of increasing cognitive and emotional abilities with the introduction of AI. An electronics industry official said, “Demand for health technology is increasing not only for personal health, but also for industrial sites and national defense. As personalization is becoming more common, it is also important to prepare measures to ensure personal information and user safety.” .

Reporter Kim Ha-kyung [email protected]

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2024-05-06 23:11:40