mi remote monitoring factbook june 2014 final v4

Remote Monitoring Fact Book V4.0Prepared JUNE 2014

Nik Pennycuick

Market Insights

EXECUTIVE SUMMARY

Executive SummaryRemote Patient Monitoring (RPM) will transform current practices in chronic disease care from ongoing or continual acute care episodes to a more proactive approach that empowers a patient to return to their benchmark threshold of health through appropriate device monitoring, behaviour modification and interaction with care providers – all remotely. RPM also ensures that vital clinical information is collected once, securely transmitted, and then shared with all the appropriate healthcare team members involved in the patient’s care.

http://en.wikipedia.org/wiki/Remote_patient_monitoring

DEFINING THE MARKET

Telehealth……………………….Is the use of electronic information and telecommunications technologies to support long-distance clinical health care, patient and professional health-related education, public health and health administration.

http://en.wikipedia.org/wiki/Remote_patient_monitoring

Remote Patient MonitoringRefers to services that use various point-of-care technologies to monitor a patient’s physiological status and health conditions. When combined with personalised health education within a chronic disease management programme, it can significantly improve an individual’s health and quality of life. Typically, it involves electronic sensors or equipment that monitors vital health signs remotely from home or while on the move. Readings are automatically transmitted to an appropriately trained person who can monitor the health vital signs and make decisions about potential interventions in real time, without the patient needing to attend a clinic.

Observations of Daily Living (ODL)• Health information and intelligence are beginning to reach outside of the current health information technology infrastructure and into the everyday lives of people• This technology-enabled, person-centered care will be crucial as the population ages and the healthcare delivery system continues its transformation.• ODL capitalises on what happens to a person’s health during day-to-day living and is captured using technologies such as active and passive sensors, mobile devices, patient-generated health data and information.• The aim is the early identification of sometimes subtle changes in a person’s health in order to invoke the required interventions necessary to maintain and improve one’s health.• “health happens every day,” and the benefits of understanding what is going on with a patient’s condition on a day-to-day basis has been demonstrated to assist both patients and clinicians to effectively manage health problems—particularly chronic conditions

http://journal.ahima.org/2014/06/24/everyday-health-monitoring-information-gathering-could-create-health-intelligence/

PATIENT MONITORING MARKET

Patient Monitoring Devices Market • The overall patient monitoring devices market is expected to grow from $17.0 billion in 2013 to $22.2 billion by 2018, at a CAGR of 5.5% from 2013 to 2018• The market is driven by rise in the geriatric population, growing incidences of lifestyle diseases, increased use of home and remote monitors, and technological advancements like portability of equipment. • However, the economic crisis and unpredictable reimbursement policies will restrain the growth of this market to an extent. • The most fruitful segments for companies to invest in the near future will be neuromonitors, remote patient monitoring (RPM) devices, and respiratory monitors.

Research and Markets: Patient Monitoring Device / Equipment / System Market by Product & End-user - Global Forecast to 2018http://www.telushealth.co/transforming-healthcare-using-remote-monitoring/

Patient Monitoring Devices Market

Research and Markets: Patient Monitoring Device / Equipment / System Market by Product & End-user - Global Forecast to 2018

Global Patient Monitoring Devices Market

Research and Markets: Patient Monitoring Device / Equipment / System Market by Product & End-user - Global Forecast

The RPM (Remote Patient Monitors) devices segment is also poised to grow at a healthy pace of 7.8% in the coming years driven by government regulations to curb increasing healthcare costs and also due to technological advancements.

GLOBAL PATIENT MONITORING DEVICES MARKET SIZE (VALUE), BY PRODUCT, 2011–2018 ($MILLION)


The most lucrative segments for companies to invest in the near future would be neuromonitors, RPM devices, and respiratory monitors.

PATIENT MONITORING DEVICES MARKET SIZE, BY GEOGRAPHY, 2011–2018 ($MILLION)


Market Dynamics


PRODUCT SEGMENT MARKET OPPORTUNITY MATRIX


Mobile Health Monitoring to be $8B• Patient monitoring systems with advanced features, especially wireless or remote capability, are among the fastest-growing medical devices.• Projections are that the market will grow at a CAGR of 43.3 % from 2013 to 2019. That will put the market at $8 billion in 2019.• The mobile health monitoring includes - smartphone-connected cardiac monitors, glucose monitors, blood pressure monitors, pulse oximeters, multi-parameter monitors and sleep apnoea monitors.• Over the next five years, glucose monitors are projected to grow faster than any other category, followed by multi-parameter monitors. • Growth due to several factors:

– Increased demand for remote patient monitoring in a healthcare landscape intent on reducing costs. – The aging population is growing each year,– The incidence of chronic disease is increasing,– The mobile web is becoming more popular and accessible.

• A few challenges for the market, namely continued uncertainty about FDA regulations, public concerns about privacy and data loss and a lower awareness of mobile health in developing countries.• The estimate of $8 billion in 2019 is conservative, In March, Grand View Research pegged the market at $49 billion by 2020 and BCC Research put it at $21.5 billion by 2018.

http://mobihealthnews.com/32903/mobile-health-monitoring-to-be-8b-market-in-2019/http://www.digitaljournal.com/pr/1967430

Remote Patient Monitoring Market• The remote patient monitoring devices market accounted for 3.2% of the total patient monitoring devices market • This market was valued at $530 million in 2013 and is estimated to grow at a healthy CAGR of 7.8% by 2018 • North America commanded the largest share of 49% of the remote patient monitoring devices market in 2013 and is expected to reach $364.1 million by 2018 at a CAGR of 6.8% • The APAC region is expected to grow at the highest CAGR of 12.4% between 2013 – 2018 driven by the better economy facilitating the higher purchasing power • Major end users are hospitals and clinics, followed by homes. Hospitals contributed the largest share of 62.0% • Major drivers for this market are government regulations limiting the stay of patients in hospitals to curb costs, increasing aging population and awareness among people, and technological advances and adaptability of devices at homes and telemonitoringservices


The hospitals segment commanded the largest share of the remote patient monitoring devices market in 2013. It was valued at an estimated $328.5 million in 2013 and is expected to reach $430.4 million by 2018, at a CAGR of 5.6%. The homes segment is expected to grow at the highest CAGR of 11.2% during the forecast period due to the increased usage driven by the demand for enhanced patient care. The technological advancements in the home remote patient monitoring systems help patients to manage their health status in the comfort of their homes.

Types of Remote Monitoring?• The patient monitoring devices market is segmented into nine major segments: haemodynamic, neurology, cardiac, respiratory, foetal and neonatal, multiparameter, remote patient monitors, temperature, and weight management monitors.• The most fruitful segments for companies to invest in the near future will be neuromonitors, remote patient monitoring (RPM) devices, and respiratory monitors.• Remote Patient Monitoring is particularly effective for managing a number of chronic diseases which lend themselves to daily monitoring, such as Diabetes, Congestive Heart Failure (CHF), Chronic Obstructive Pulmonary Disease (COPD), and Hypertension.

Reference - http://en.wikipedia.org/wiki/Asthma

NASCENT STAGE OF MARKET As the market is still young, there is plenty of opportunity for new entrants as well as matured big players to get a sizable share within this market. The market opens opportunities to not only devices, but can also boost the services industry which caters to data management, renting of telemetric equipment, managing patient routines, and nursing and care facilities.

COLLABORATIONSRemote patient monitoring has opened up avenues to a new strategic inorganic growth. Small innovative companies have the opportunity to collaborate with market giants to create new opportunities with a motive of mutual sustenance. This can be seen from the collaboration of Intel and GE Healthcare in their investments of $125 million for further developing the remote patient monitoring field. Many other software companies can be seen collaborating with medical device companies to further improve the quality of product and use their platforms to propel products in the market. Android and Apple applications have launched basic healthcare monitoring solutions such as blood glucose testing and ECG monitoring and have enabled the transmission of these data to physicians.

BENEFITS

More than Data…• When providers began testing the concept of remote patient monitoring as a way to track patients outside a clinical setting, nobody was sure how well it would work. Now, the practice is booming, with some of the largest insurers and high-tech companies in the world participating in pilot programs.• Hospitals and technology companies are involved in multiple pilot programs that track patients from their homes after they are discharged from the hospital or monitor patients with chronic illnesses "passively" to track their everyday movements in an attempt to identify problems before they become serious. In both approaches, the goal is to keep patients healthier and generate savings by preventing expensive emergency department visits and hospitalizations.• “Having reliable data about a patient's condition is essential to responding to changes at the earliest possible time and preventing deterioration of their condition or even death," says Ben Kanter, chief medical information officer for Palomar Health, which operates three hospitals in San Diego County.

http://www.healthleadersmedia.com/page-2/TEC-304292/Remote-Monitoring-Exploring-New-Territorieshttp://online.wsj.com/article/PR-CO-20140508-918434.html

Benefits to Healthcare• The U.S. healthcare system could reduce costs by nearly $200 billion over the next 25 years by using remote monitoring technology in patients with of congestive heart failure, chronic obstructive pulmonary disease, and chronic wounds or skin ulcers, says a report from the Center for Technology and Aging.• Results from more than 260,000 patients implanted with either pacemakers or defibrillators demonstrated that patients with high adherence to remote monitoring had more than twice (2.4x) the probability of survival than that of patients without remote monitoring. Furthermore, the data suggest that, irrespective of whether a patient has a pacemaker or defibrillator, higher use of remote monitoring is associated with better survival. Although these associations require further investigation, these important observations should have significant implications for individual patient care and best-practice guidelines.

http://www.healthleadersmedia.com/page-2/TEC-304292/Remote-Monitoring-Exploring-New-Territorieshttp://online.wsj.com/article/PR-CO-20140508-918434.html

Benefits to Individuals• More effective self care • Improves quality of life for carers • Less travel and disruption for routine check-ups • Retention of dignity • Increased confidence to manage own health • Fewer stressful, unplanned hospital admissions

http://3millionlives.co.uk/about-telehealth-and-telecare#benefits_for_individuals

For Patients• For patients the ultimate goal for RPM is to return to their individual optimal level of health. This involves increased compliance to interventions and medications and will result in reducing ER and inpatient stays. The ability to actively engage in their overall health management in the privacy and security of their own home empowers patients to optimize their health in a proactive, personalized and consistent way so that the quality of their life is enhanced and extended.• Healthcare practitioners will have the consistent and timely patient information they need to proactively and more efficiently manage their patients through enhanced best practice ultimately improving patient outcomes.• Healthcare systems will benefit overall with reduced costs for preventable acute care episodes for chronic disease patients, thereby reducing the overall cost per patient. Consistent and reliable data will allow for further evidence based research, trending and forecasting in CDM.• Current trends and studies show a good adaptability by the aged population to the high level of technical knowledge required to operate these home bedside monitoring systems, although it will remain a challenge for the industry in the coming few years

http://www.telushealth.co/transforming-healthcare-using-remote-monitoring/3/

COMPETITORS

Key Players and StrategiesThe key players in the remote patient monitoring devices market are :Honeywell (U.S.)Carematix (U.S.)Philips Healthcare (The Netherlands)Bosch (U.S.)Telcomed (Ireland)Care Innovations (Intel & GE Healthcare)(U.S.)Aerotel (Israel)Tunstall (U.K.)

Research and Markets: Patient Monitoring Device / Equipment / System Market by Product & End-user - Global Foreccast

Honeywell HomMed

https://www.hommed.com/

Carematix

http://www.carematix.com/

Philips Healthcare

http://www.medical.philips.com/gb_en/products/index.wpd

Bosch

http://www.bosch-healthcare.com/en/us/startseite/home.html

Telcomed

http://www.telcomed.ie/products.html

Care Innovations (Intel & GE Company)

http://www.careinnovations.com/about/

Aerotel

http://www.aerotel.com/en/

Tunstall

Other Companies

St. Jude Medical Inc.

http://professional.sjm.com/products/crm/connectivity-remote-care/connectivity/merlin-patient-care-system

Medtronic Inc.

http://www.medtronic.com/for-healthcare-professionals/products-therapies/cardiac-rhythm/patient-management-carelink/medtronic-carelink-network-for-cardiac-device-patients/index.htm

Boston Scientific Corp.

http://www.bostonscientific.com/en-US/home.html

Biotronik SE & Co.

http://www.biotronik.com/wps/wcm/connect/int_web/biotronik/home

Conclusions• As the population ages and more people are diagnosed with single and multiple chronic diseases, pressure on healthcare systems will continue to rise. Inadequate treatment plans for complex illnesses results in patient compliance issues and potential health complications that require acute interventions, driving up costs on already over-burdened acute care settings. • Using technology as an enabler we are now able to transition to a new model of care for patients with chronic disease where healthcare is provided in the home. Although these complex illnesses can not be cured, they do lend themselves to daily clinical monitoring in a patient’s home/self-care environment with an interactive remote patient monitoring system.

APPENDIX

Key Journals• MDBR – Patient Care / Patient Monitoring http://patientmonitoring.medicaldevices-business-review.com/• The Voice of Mobile Health http://www.mhealthnews.com/

Organisations• 3 Million Lives – 3millionlives is underpinned by the idea of service integration to improve patient care and outcomes. When different services and sectors work together, towards shared goals, patients get far more flexible, better, and more appropriate care. To achieve true service integration, we recognise that 3millionlives needs to be delivered through a genuine partnership across NHS England – facilitating collaboration between clinicians, and empowering patients to better self-manage their conditions, with the use of technology. We also recognise that this cannot be achieved through technology alone – the key will be to deliver service transformation through realising the potential of that technology to support clinicians, patients and carers. - http://3millionlives.co.uk/

Key Conferences & Events• The International Telecare & Telehealth Conference 2014 http://www.telecare.org.uk/events/the-international-telecare-telehealth-conference-2014• International Congress on Telehealth and Telecarehttp://view6.workcast.net/?cpak=9103627766822086&pak=2451625998777091• International Digital Health and Care Congress

http://www.kingsfund.org.uk/events/international-digital-health-and-care-congress

Whole System Demonstrator Trial in UK (WSD)• The Whole System Demonstrator (WSD) programme is the largest randomised control trial of telehealth and telecare in the world.• It involves 6191 patients, 238 GP practices across three sites, Newham, Kent and Cornwall. WSD was set up to look at cost effectiveness, clinical effectiveness, organisational issues, effect on carers and workforce issues. It focused on three conditions, diabetes, COPD and coronary heart disease. • Early headline findings (DEC 2011)

The early indications show that if used correctly telehealth can deliver a 15% reduction in A&E visits, a 20% reduction in emergency admissions, a 14% reduction in elective admissions, a 4% reduction in bed days and an 8% reduction in tariff costs. More strikingly they also demonstrate a 45% reduction in mortality rates.

https://www.gov.uk/government/publications/whole-system-demonstrator-programme-headline-findings-december-2011

mi remote monitoring factbook june 2014 final v4

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