One ring to rule them all?

At the recent Samsung Electronics Unpacked event, a new product called the Galaxy Ring was announced. It is expected to come equipped with both an ECG and a PPG sensor, which will allow users to monitor their heart rate and temperature. Additionally, the ring will likely be able to track sleep patterns and detect apnoea. Early users have reported that the ring is extremely lightweight compared to other competitors in the market. 

Until now, the smart ring health industry has been dominated by ŌURA and its third iteration of the smart ring. However, with Samsung's entry into the market, competition will increase significantly. It remains to be seen when other big tech companies like Google or Apple will join the fray.

The question on most people's lips is this: why would you wear a ring, and what is the potential value in healthcare?

Consider the ring as an accessory for your smartphone that operates in the background and provides several opportunities. Some people may not like wearing smartwatches because they find them intrusive or prefer the style of a traditional analogue watch. I know a few individuals who wear two watches, one analogue and one smartwatch, because they want to keep track of their health. Therefore, the ring might be a good option for them.

The current smart rings in the market have the following uses.

1. Sleep monitoring

2. Fitness Tracking

3. Health and Wellness Management

4. Contactless payments

5. Online security

6. Remote Control

7. Smart Key

8. Transit Pass

I've been using the McLEAR smart payment ring for about six months. It is easy to access, but it lacks reliability, and the user interface needs improvement. Instead of placing a knuckle on the payment pad, you have to apply a fist, making the user experience less than ideal. Another downside is that you need to set up a separate account for money transfer and top-up purposes.

An interesting collaboration in healthcare is the recent announcement of the partnership between ŌURA and the innovative and disruptive diabetic company based in Dubai, GluCare.Health and Zone.Health, to help track diabetic patients as part of their integrated and smart approach to care. The metabolic disease can be challenging to treat and ultimately reverse because it requires foundational and sometimes profound behaviour change and ongoing lifestyle modifications that must take place outside of the doctor’s office. The idea is to empower patients to manage their metabolic health by leveraging the power of continuous data monitoring to effect this all-important behavioural change. The current model for Glucare is to collect data using a continuous glucose monitoring device and a Fitbit, the latter of which would be replaced by the ring, which makes much sense. Their recent data suggests considerable improvement in their metabolic health, including remission of type 2 diabetes. I look forward to hearing about the patient outcomes of this new digital therapeutics model.

A smart ring can also measure electrodermal activity (EDA). (This is the same technology used in lie detector tests to evaluate emotion and cognition through the skin.) This may allow for recognising and managing stress.

There is no doubt that smart rings are more compact and easier to wear, making them more convenient than carrying around a smartphone or other wearable devices. The latest rings are designed to be stylish and can complement various outfits, making them a more acceptable fashionable accessory.

They also offer advantages similar to those of other devices. They can provide discreet notifications for calls, messages, emails, and app alerts and with built-in authentication features, such as fingerprint recognition or NFC (Near Field Communication), to enhance the security of devices and accounts. There is also a degree of personalisation as they often come with customisable features, allowing users to set up the device to suit their preferences.

According to DataHorizon Research, the Smart Ring Market was valued at USD 147.1 million in 2022 and is expected to reach USD 1.4 billion by 2032, with a CAGR of 25.4%.

My feeling is that this market will become an increasingly important addition to managing and monitoring health and, in particular, chronic health disorders. I look forward to the development of the "one ring that rules them all" by adding more features and making them more indispensable.