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European Market for Remote Patient Monitoring Applications

  • January 2013
  • 116 pages
  • Frost & Sullivan
Report ID: 1623809

Summary

Table of Contents

Gaining Momentum but Uncertain Times Ahead

This study examines and analyses the European Market for Remote Patient Monitoring Applications. The research service presents the market definition and its dynamics. It examines the market in terms of various factors that influence it and also discusses the competitive and the geographical trends prevailing in the market. A detailed revenue forecast is presented for the individual seven geographic markets considered in this study. The base year for this study is 2011, with the forecast running until 2016. The study also provides three major predictions that are likely to shape up the market and these predictions might help the industry participants make informed decisions.

Executive Summary

• Chronic disease management has been the focus of many recent health and home care innovations, offering a significant opportunity to retain independence, avert health complications, and reduce expenditures.
• Remote Patient Monitoring (RPM) technologies have enabled or supported many of these innovations.
• The RPM applications market in Europe in 2011 was worth $Xmillion.
• About X per cent of this amount was contributed by the telehealth applications as these are usually developed by the original equipment manufacturers (OEM) and limited third-party developers.
• The RPM applications market is estimated to grow at a rate of Xper cent between 2012 and 2016.
• The market is mainly driven by the increasing adoption of these technologies in order to reduce public expenditure on healthcare.
• The current economic scenario prevailing in Europe negatively affects the rapid adoption of technology.
• The struggling economies, such as that of Spain, are now adopting austerity measures to save the economy, which is expected to affect the healthcare market to a large extent.
• Many global companies have set a strong foothold in the European market for RPM technologies.
• There is an increased focus on countries, such as the United Kingdom and Germany due to the growth momentum in their economies, as well as the government’s encouragement for these healthcare IT devices and solutions.

CEO’s Perspective

1. RPM application’s market in Europe varies according to the public awareness about these technologies.
2. Eurozone crisis has lead to a drop in sales of the RPM applications.
3. The market opportunity in a geographic market depends on the stimulus shown by government organisations.
4. Tier I companies dominate the market with large scale government-based contracts for RPM applications.
5. Dedicated third-party application providers likely to have higher growth compared to medical device providers.

Market Overview—Definitions

Market is divided into two segments:
• Telehealth
• Telecare

Definition of Market
RPM applications refer to a market that involves the content / software embedded in the RPM device and the software provided as a solution to service providers by solution suppliers. Applications refer to content or the software that facilitate the functionalities of the device, as well the software that allows monitoring of different devices. These applications are mostly configured by the OEM supplier and are not available in the free market for downloads, for example, HRS-Net, MPM-Net, and web-based applications that are used for integration purposes by Aerotel. GE864-QUAD-V2 from Tunstall is a module-based application that can be installed via GSM/GPRS.

Exclusions
In this study, the health applications downloaded to a Smartphone or a tablet are not considered as they are classified under mHealth. This study restricts the scope to the software / content that is embedded or developed to be synchronised with the medical healthcare / telehealth or telecare devices.

• Assisted Living concept, technologies and devices intersect three core domain of technologies and services, that is, telecare, telehealth and smarthomes. It has no lucid description or definition and has been perceived differently in different countries.
• Telecare provides real time monitoring and social care directly to the user with the support of information and communication technology. It is provided through an integration of equipment and services customized to the individual users and are provided at their homes. Telecare includes basic alarm service, to sophisticated services of social care.
• Telehealth remotely monitors a patient's vital signs through the use of devices customized by healthcare service providers. It is customized to suit individual patient, enabling the physician to monitor while the patient is away from the hospital. Vital signs data, such as blood pressure levels, are transmitted to the clinician, enabling the monitoring and interpretation based on the individual's health requirements.
• SmartHomes retro fit homes with automated building controls and integrate them to facilitate least manual effort in domestic tasks, thereby improving comfort and lifestyle, especially for the elderly and disabled.
• The European remote patient monitoring market has been segmented into two distinct product divisions, namely: telecare and telehealth.

Definition of Revenues
The revenues mentioned in this study are the revenues earned by the solution providers through applications sales to service providers and by collection of a monthly fee from the end-user for using some premium applications on the devices. However, because not all companies charge this fee; and even the companies that do charge the fee are currently only charging for premium applications, the share of these revenues is not very significant in comparison to the revenues earned from the service providers.

Definition of Acronyms
- RPM–Remote Patient Monitoring
- OEM–Original Equipment Manufacturer
- ICT–Information and Communication Technology
- NHS–National Health Service
- WHO–World Health Organisation

Geographic Scope

• Germany
• France
• The United Kingdom (U.K.)
• Italy
• Spain
• Scandinavia (Norway, Sweden, Finland, and Denmark)
• Benelux (Belgium, the Netherlands, and Luxembourg)

OEMs or Solution Providers
Companies that provide devices to end-users and software as a solution or as a software package to service providers. They earn revenues through charging the end-user for using some applications. For example, companies such as Aerotel and Tunstall are solution providers.

Service Providers
Companies that provide remote monitoring services through a monitoring centre that houses the server and connect the individual patient / user devices. They also serve a large number of general practitioners (GPs) practices, medical centres, and hospitals. For example, Broomwell Healthwatch in the United Kingdom, and IPT Telemedicine in the Netherlands are service providers.

Several OEMs also provide PC-based applications to doctors at prices ranging from $ to $ per unit.

Key Questions This Study Will Answer

• What does remote patient monitoring applications involve in the healthcare field?
• How will the structure of the market change over time? Is it ripe for acquisitions?
• Are the services offered currently meeting customer needs or is there additional development needed?
• How much revenue does this industry generates?
• What are the successful business models in this industry and in the future?
• What is driving growth of this industry; and what is hindering it ?

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