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US Remote Patient Monitoring Market

  • November 2015
  • -
  • Frost & Sullivan
  • -
  • 246 pages

Is it Finally Ready to Make a Difference?

This study covers clinical-grade remote patient monitoring as it is evolving within the US through 2020. The market is assessed from the perspective of two segments: 1) home healthcare and post-acute care and 2) Chronic Condition Management and Disease Management. The total market growth is forecasted based on a view of the most likely scenario driven by regulatory and technology-based market opportunities and barriers. The report summarizes recent market activities, such as M&A, divestments and exits that have resulted in a revised view of the market share among the leaders when compared with previous configurations. The analysis includes a view of the competitive landscape that features a mix of medical device OEMs, new analytic-centric startups and other niche players that will be both competitive and interdependent over time. The coverage provides snapshot views of the leading participants. There is also a summary of notable studies aimed at quantifying the benefits that RPM can deliver. The increasing benefits of Remote Patient Monitoring (RPM) coupled with the rising comfort utilizing smartphones and tablets among the elderly patients are well suited to the evolving foundation of a user-friendly technical solution that should help to address the core challenges to the US Healthcare system that require solutions that will reduce the cost of healthcare without sacrificing quality.

Methodology
- The objective of the research service is to present a comprehensive analysis of the US Remote Patient Monitoring (RPM) market with respect to market potential and key market dynamics at play over the next 6 years.
- The regional scope of the analysis is focused on the United States.
- The study also covers factors driving overall market growth, challenges impacting the OEM suppliers, providers and care givers, and opportunities for value-added analytics within the total market and key market segments as estimated for the forecast period.
- The study period covered by this service for the RPM market is from 2014 to 2020, with the base year as 2014 and forecast period from 2015 to 2020.

Data presented in this research was gathered through the following processes:
- In-depth interviews conducted with remote patient monitoring (RPM) vendors; hospital management, and key opinion leaders (KOLs).
- Secondary research was conducted using Frost & Sullivan proprietary content as well as publicly available sources of information such as government websites, academic and trade journals, and online media.
- Market size and forecasts were developed using Frost & Sullivan proprietary forecasting tools. A discussion of forecast assumptions is provided.

Key Findings
- The benefits of clinical-grade Remote Patient Monitoring (RPM) are well-suited to offering the foundation of a technical solution that should help to address the core challenges to the US Healthcare system to reduce the cost of healthcare without sacrificing quality.
- However, RPM is not a new market. The capability to extend patient monitoring to the home has been available for at least years, and to date, it is far from fully utilized.
- In the US, there is no consistent, across-the-board reimbursement model for RPM.
- First-generation systems were somewhat cumbersome and not well-suited for patients able to be mobile. In some cases, patients or their personal care giver were responsible to take readings and manually enter data, a function that was not always well received by older individuals who were not computer savvy. Current systems are much more user friendly.
- The actual monitors are now part of an overall solution that includes software and peripheral devices connected through wireless technology in an SaaS model. The true gold in this market is the combination of ease of use and the quality of data and ability to develop actionable reports and analytics. Monitors themselves are commodities. Most systems are “device agnostic.” BYOD (Bring Your Own Device) is a popular concept in
this developing market.

Table Of Contents

US Remote Patient Monitoring Market
1. EXECUTIVE SUMMARY

Executive Summary
Key Findings
Scope and Segmentation
Key Questions This Study Will Answer
Market Engineering Measurements
CEO's Perspective
Key Companies to Watch
Likely Market Directions—The Analyst Perspective
Executive Summary—3 Big Predictions

2. PERSPECTIVES IN DIGITAL HEALTH

Perspectives in Digital Health
Industry Convergence and Digital Health Innovation
Innovation Breeds Opportunities for a Healthcare Experience Increasingly Leveraging Technology
The Decentralization of Care Delivery
Changing Role of the Hospital
Collaborative Workflow Environments—Hospital, Clinic, Home and Community
Digital Health Market Segmentation and Convergence
Patient Benefits from Remote Patient Monitoring

3. REMOTE PATIENT MONITORING

Remote Patient Monitoring
What Is Remote Patient Monitoring?
Remote Patient Monitoring—Market Segmentation
Market Overview—Home Healthcare, Post-acute Care
Market Overview—Disease and CCM Management
Telehealth Technology Approaches
Remote Monitoring Vertical Snapshot
Remote Monitoring Vertical Snapshot—Landscape Details
Current Trends
Confusion and Hype?
How Does RPM Fit Into the Future of Telehealth and Healthcare?
Market Background—The Path to the Present
RPM—Clinical-grade Applications?
RPM Technology
RPM Technology Trends and Roadmap
RPM Will Interface with a Variety of IT Solutions
Future Technology Map—RPM and PERS Integration
Healthcare and the Internet of Things
Care Coordination—The Practical Component of RPM
Remote Patient Monitoring Process Flow
RPM Technology and the Attraction of Wi-Fi

4. REMOTE PATIENT MONITORING—SELECTED CLINICAL STUDIES

Remote Patient Monitoring—Selected Clinical Studies
RPM Trials—The Seminal VA Study
More Recent VA Findings
Notable Reported RPM Studies
Notable RPM Studies
RPM Evaluations—Key Takeaways

5. BUSINESS MODELS IN REMOTE PATIENT MONITORING

Business Models In Remote Patient Monitoring
RPM—Current and Potential Buyers
Key Factors Influencing RPM ROI
Description of RPM Solution
Description of Future RPM Solution
Current Business Models
RPM Business Model Rationale
RPM Services Business Model—Case Study
Can Vendors Expand B2C with RPM Similar to PERS?

6. COMPARISON WITH THE INTERNATIONAL MARKETS FOR TELEHEALTH AND TELECARE

Comparison with the International Markets for Telehealth and Telecare
European Market Comparison
Telemedicine Services Business Models, APAC

7. DRIVERS, RESTRAINTS, AND TRENDS—TOTAL RPM MARKET

Drivers, Restraints, and Trends—Total RPM Market
Forces Driving New Solutions, Such as RPM
Escalating Healthcare Costs—A Serious Challenge
Prevalence of Chronic Diseases Cannot be Ignored
Chronic Disease—A Significant Challenge
Population Growth, US Census—65+ Growing—2050
Meaningful Use Drives All Healthcare Tech Innovation
Remote Monitoring and State Adoption
Market Drivers Related to Healthcare Reform
Market Drivers Related to Technology
Drivers Explained
Market Restraints
Restraints Explained

8. FORECAST AND TRENDS—TOTAL RPM MARKET

Forecast and Trends—Total RPM Market
Market Engineering Measurements
Revenue Forecast—Total RPM Market
Forecast Assumptions and Definitions
Revenue Forecast—Disease and Chronic Condition Management Segment
Revenue Forecast Discussion
Revenue Forecast—Home Health Post-Acute Management Segment
Revenue Forecast by Segment Discussion
Pricing Analysis—Prices Vary by Channel
Pricing Factors Explained
Sector Comparisons

9. DEMAND ANALYSIS—TOTAL RPM MARKET

Demand Analysis—Total RPM Market
Total RPM Market Penetration Analysis
Telehealth Opportunities by Healthcare Setting
Impact of Remote Patient Monitoring Over the Next 5 Years
Impact of Core Telehealth Markets Over the Next 5 Years
Telehealth Market—Highest Impact on Healthcare in the Next 5 Years
Therapeutic Areas With Most Opportunities for Telehealth
Fastest Adopting Region through 2023
Region Adoption and Impact of RPM—Discussion
Telehealth Segment With Greatest Opportunity for Growth Through 2024

10. COMPETITIVE ENVIRONMENT

Competitive Environment
Changes in the Market Landscape
Likely Market Directions—The Analyst Perspective
Digital Health Market Value Chain Ecosystem Map
Competitive Market Structure
Vendor Segmentation—mHealth Platform in Chronic Disease Management
Welldoc Case Study Example
mHealth Business Model—WellDoc
Welldoc Case Study—Discussion
mHealth Segment Snapshot
How has the Mobile and Mobility Trend Changed Traditional RPM Vendor Portfolios?
How can RPM Experiences Best Leverage mHealth?
mHealth Platform Integration: Apple Expansion and Tests for Healthcare Value
How has Software Become More Important Than Devices?
Why is data the Most Important Thing in RPM, Moving Forward, for Vendors?
Digital Health Data Sets Provide Opportunity to Listen, Predict and Take Action to Achieve an Era of Preventive Healthcare
IBM Watson Health
Analytics Based Approaches—Impact Potential Discussion on RPM: Connecting the Dots
Market Share Analysis—2010 View
Market Share 2014 View
Market Share Analysis—2014 View
Recent Notable MandA—Investment and Withdrawals
Top Competitors Comparative Assessment
Competitive Factors—Discussion

11. RPM PROVIDERS—A CLOSER LOOK AT NOTABLE SECTOR PARTICIPANTS

RPM Providers—A Closer Look At Notable Sector Participants
Medtronic PLC—Company Dashboard
Medtronic—Key Products and Solutions
Medtronic—Value Proposition
Medtronic—Analyst Perspective
Honeywell Life Care Solutions—Company Dashboard
Honeywell Life Care Solutions—Key Products and Solutions
Honeywell Life Care Solutions—Value Proposition
Honeywell Life Care Solutions—Analyst Perspective
Philips Telehealth—Company Dashboard
Philips Telehealth—Key Products and Solutions
Philips Telehealth—Value Proposition and Analyst Perspective
Care Innovations—Company Dashboard
Care Innovations—Key Products and Solutions
Care Innovations—Value Proposition and Analyst Perspective
Vivify Health—Company Dashboard
Vivify Health—Key Products and Solutions
Vivify Health—Value Proposition and Analyst Perspective
Qualcomm Life—Company Dashboard
Qualcomm Life—Key RPM Related Products and Solutions
Qualcomm Life—Value Proposition and Analyst Perspectives
Validic—Company Dashboard
Validic—Key Products and Solutions
Validic—Value Proposition and Analyst Perspective
Welch Allyn—Company Dashboard
Welch Allyn—Key RPM Products and Solutions
Welch Allyn—Value Proposition and Analyst Perspective
Tactio Health GroupCompany Dashboard
Tactio Health Group—Key RPM Products and Solutions
Tactio Health Group—Value Proposition and Analyst Perspective
SentrianCompany Dashboard
Sentrian—Key RPM Products and Solutions
Sentrian—Value Proposition and Analyst Perspective
Tunstall Healthcare Group Ltd.—Company Dashboard
Tunstall Healthcare Group Ltd.—Key Products and Solutions
Tunstall Healthcare Group Ltd.—Value Proposition and Analyst Perspective
Nonin Medical—Company Dashboard
Nonin Medical—Key Products and Solutions
Nonin Medical—Value Proposition
Nonin Medical—Analyst Perspective
Independa—Company Dashboard
Independa—Key Products and Solutions
Independa—Value Proposition and Analyst Perspective
Preventice—Company Dashboard
Preventice—Key Products and Solutions
Preventice—Value Proposition and Analyst Perspective
RPM Market—List of Additional Companies

12. REMOTE MONITORING AND TELEHEALTH—A TELEHEALTH MATRIX DISCUSSION

Remote Monitoring and Telehealth—A Telehealth Matrix Discussion
The Frost and Sullivan Telehealth Matrix
Telehealth MatrixTM—Description
Professional Consumer Spectrum
ICT Healthcare Spectrum
Telehealth Matrix—Telehealth Markets and Remote Monitoring
Telehealth Matrix—The Current and Future Remote Monitoring Market

13. FUTURE PERSPECTIVES

Future Perspectives
Future Perspectives—Three Big Predictions
Legal Disclaimer

14. APPENDIX

Appendix
2010 RPM Report—Other Market Participants
Definition of Selected Terms Related to RPM
Definition of Select Terms Related to Care Coordination
Commonly Used Remote Monitor Definitions
Sources
Additional Frost and Sullivan Sources of Information on Remote Monitoring
Additional External Sources of Information on Remote Monitoring
Survey Content Methodology
Pulse of Telehealth 2014 Survey—Type of Respondents
Market Engineering Methodology
Learn More—Next Steps

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