bridging the consumer-clinic revenue gap to the $42 billion mhealth...
TRANSCRIPT
Bridging the consumer-clinic revenue gap to the $42 billion mHealth market
Arnold Bos
Consultant – EMEA region
June 16th, 2015
Diagnosis is the first step to improving health
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mHealth technology is a key enabler of the shift to decentralized healthcare
De-centralized healthcare
mHealth
Centralized healthcare
Primary care
Where can mHealth technologies be used?
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Emergency medicine
Security & Safety
In-field / remote settings
Chronic care
Home Care
Sport & Fitness
Food & Nutrition
Self management
Clinical markets Consumer markets
Opportunities for mHealth are almost anywhere
The mHealth market is already over $5 billion today
$0
$5
$10
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$25
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2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Sales (US$ billions)
Imaging Smart Objects Vital Signs IVD Other
Clarification of regulatory approaches will help the clinical space grow
Decision-support algorithms will actively drive adoption of mHealth devices
Vital signs monitoring (VS) and IVD are the cornerstones of the mHealth industry and will make up 80% of the mHealth devices market by 2023
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By 2023, mHealth will grow over $41 billion; vital sign monitoring will remain one of the cornerstones
Opportunities abound, both in the consumer, and the clinical market
Clin
ical
IVD
Vital signs
Imaging
Other
Consumer
IVD
Vital signs
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mHealth
Vital signs
Vital signs
Technologies that can transition the consumer-clinical gap, can capitalize in both markets
Electronics
Materials
Optics
Precision Mechanics
Integrators
Chemicals
What opportunities can you address?
Materials
• Adhesives • Polymers • Alloys • Nanomaterials • Composites • Coatings • Smart fabrics
Chemicals
• Reagents • Disinfectants • Binding agents • Stabilizers
Electronics
• Amplifiers • Filters • Power supplies • Batteries • Dedicated CPUs
Optics
• Filters • Lenses • Detectors • Lasers • SLDs • LEDs • Gratings
Precision Mechanics
• Actuators • Joints • (µ)fluidics • Enclosures • Translation
Integrators
• Manufacturing • Miniaturization • Packaging • Systems
engineering • Backend
systems
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Analytics
Leveraging the analytics is critical to generate revenue
Devices
Devices can measure a multitude of biomarkers, from many different sample locations
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Temperature
Stool Microbiome
Nutrients
Respiration
Activity
Heart rate
Tears
Saliva
Sweat
Skin
Urine
Emerging devices can measure more relevant biomarkers, with increasing accuracy
mHealth needs analytics to help translate big data into actionable recommendations
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Personal information
Activity
Calorie intake
Metabolite profile
Microbiome profile
Friends’ data
Genome?…
Sleep pattern
Analytics
The quick money for vital sign monitoring is in the consumer market. But, it’s a bit of a boring market… To get to the big money, companies must build their path to the clinical market
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2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023
Mar
ket S
ize
(USD
, bill
ions
)
Year Consumer Clinical
After a slow start, developing markets leap-frogging technology adoption, combined with clarification of regulations, will see the clinical market expand rapidly
In 2023, clinical applications constitute a market value of $16 billion and represents 70% of the total mHealth vital signs monitoring market.
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mHealth startups utilize different strategies to bridge the revenue gap
Wearable accuracy on par with current clinical monitoring equipment
Software can analyze and evaluate patient data to alert patient and caregivers
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Targeting consumer applications, compatible with third-party apps
Technology platform designed with potential for clinical accuracy
Open-access analysis platform, aimed to find causes for the gathered data
Developed optical sensor, to incorporate into third-parties’ wearables
Wearable + ingestible device is unfamiliar territory for FDA approval
Targets the consumer market with sensor product only
Technologies for consumer applications can be ‘good enough’. In clinical, they need high accuracy
Can the technology provide meaningful, actionable information for consumers?
Will the product generate revenue to fund further technology development?
Can the technology evolve to enter the clinical market in the long-term?
Can the technology claim the accuracy needed for the regulated clinical market?
Can my sensor package be downsized for consumer applications?
Can the technology capture consumer applications for short-term revenue?
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Consumer market
Clinical market
Necessity for high accuracy
Approximate measurements suffice
Short term Long term
Can the technology transition the consumer-clinical revenue gap?
Lux Research BV. Valschermkade 36-E, 1059 CD, Amsterdam, Netherlands Phone: +31 20 3460840 [email protected] www.luxresearchinc.com
Thank you
Arnold Bos Consultant [email protected] +31 20 808 7536