The market for wearable medical devices will reach more than 100 million units annually by 2016 as a range of factors combine over the next five years to drive consumer and healthcare adoption, according to ABI Research.
These devices, ranging from heart rate monitors for measuring an individual’s performance during sports to wearable blood glucose meters, will all enable greater detail in tracking, monitoring and care – often through connections provided by mobile phones.
Ultra-low power wireless technologies such as single mode Bluetooth 4.0, existing proprietary and the planned 802.15.6 specifications are combining with mobile handsets and social networking applications to drive adoption of a new generation of body-worn sensors. These sensors can automate details on an individual’s activities to inform friends and drive advice and feedback.
“A number of short range wireless protocols are jostling for position in this emerging market and they line up against traditional tethered connectivity such as a USB cable to a computer as well as emerging M2M offerings,” said Jonathan Collins, ABI’s principal analyst for wireless healthcare and M2M.
While the sports and fitness market has been embedding proprietary short-range wireless connectivity in devices for many years, it has remained a niche market. The market is now reaching a key growth period with support and commitment to standardised specifications.
The professional healthcare market is also starting to look at the potential for embedded wireless communications in wearable devices for in-hospital and remote patient care.
ABI Research’s report, “Wireless Health and Fitness,” assesses the market opportunity for wireless enabled devices and communications within the home and consumer market. Analysis and forecasts are split across three broad categories: sports, fitness and wellbeing; home monitoring; and remote patient monitoring.
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Very insightful article on the wearable medical devices. We here at C8 MediSensors agree. The confluence of several technological advances are making this a reality.
We are all beneficiaries of this. People will have access to information in real time, able to make better choices and treatment decisions, personal sport performance will be better understood and hopefully the cost of being healthy will go down.
Regards,
Very insightful article on the wearable medical devices. We here at C8 MediSensors agree. The confluence of several technological advances are making this a reality.
We are all beneficiaries of this. People will have access to information in real time, able to make better choices and treatment decisions, personal sport performance will be better understood and hopefully the cost of being healthy will go down.
Regards,
Quite. Much of this sector's success hinges on the customer (patient/ insurer/ health provider?) seeing the cost benefits as well as positive health outcomes. As Editor of M2M Now I'd be interested to know which of these groups C8 MediSensors aims to influence first in building this business.
Quite. Much of this sector's success hinges on the customer (patient/ insurer/ health provider?) seeing the cost benefits as well as positive health outcomes. As Editor of M2M Now I'd be interested to know which of these groups C8 MediSensors aims to influence first in building this business.
Jeremy,
You are correct; cost benefit is key in any new technology, especially technology that are intended to improve the health of the target population. The perspective of cost and benefit, however, differs between the Patient, Insurer and health provider and as such we need to ensure that we address all. Once we have received CE Mark MDD regulatory approval (anticipated in early 2012), patients living in the EU and countries’ that accept CE Mark will be able to buy our new non-invasive Continuous Glucose Monitor (nCGM) directly from C8 MediSensors through the C8 Web Store. In the meantime we will be meeting with the Key Opinion Leaders (KOLs) in Diabetology to provide them with an opportunity to evaluate our technology and its efficacy in providing a solution that meets their patient’s needs and give them confidence. Lastly we will work with insurers to highlight how non-invasive CGM has significant advantages over the current invasive CGM technologies available today. Therefore; our plan is to sell direct to Patients, work with KOLs to build their confidence and follow up with Insurers to discuss benefits of nCGM.
Regards,
Jeremy,
You are correct; cost benefit is key in any new technology, especially technology that are intended to improve the health of the target population. The perspective of cost and benefit, however, differs between the Patient, Insurer and health provider and as such we need to ensure that we address all. Once we have received CE Mark MDD regulatory approval (anticipated in early 2012), patients living in the EU and countries’ that accept CE Mark will be able to buy our new non-invasive Continuous Glucose Monitor (nCGM) directly from C8 MediSensors through the C8 Web Store. In the meantime we will be meeting with the Key Opinion Leaders (KOLs) in Diabetology to provide them with an opportunity to evaluate our technology and its efficacy in providing a solution that meets their patient’s needs and give them confidence. Lastly we will work with insurers to highlight how non-invasive CGM has significant advantages over the current invasive CGM technologies available today. Therefore; our plan is to sell direct to Patients, work with KOLs to build their confidence and follow up with Insurers to discuss benefits of nCGM.
Regards,
Interesting, Douglas, and I'm sure it's a lot easier to say than to achieve. I feel a feature article coming on -- I'm sure others out there would like to discuss. Best,
Interesting, Douglas, and I'm sure it's a lot easier to say than to achieve. I feel a feature article coming on -- I'm sure others out there would like to discuss. Best,