Foreign and local markets are participating in remote patient monitoring pilot groups to grasp the advantages home health monitoring devices provide in managing chronic diseases.
January 6, 2017 by Healthcare, Industry News, Market News, Press Releases, Research Reports, SR 1-8b, Telemedicine
Vendor Business Model Evolution to Usher New Paradigms in Chronic Disease Management
LONDON, Jan. 5, 2017 — APAC’s home health monitoring market is set to generate nearly $2.2 billion by 2020. Local and international vendors should identify the long-term market progression and opportunity within home monitoring for both acute and chronic care in this region. APAC is shifting from centralized to decentralized models due to the need for efficient care delivery models. A combination of technological advances and regulatory overhaul across the region will enable innovative care delivery models, especially for managing chronic and life-style related diseases that will drive the demand for platform-based home monitoring solutions over the next five years. There is a concomitant increase in demand for remote patient monitoring (RPM) devices in the home but the adoption has not been as strong. Healthcare stakeholders in this region have also formed consortiums and are investing in pilots to generate data to build a funding model.
Collaborated initiatives, such as Australia’s National Telehealth Home Monitoring, South Korea’s National Telehealth Demonstration Project, or Singapore’s National Cardiac Monitoring are set to expand the market for home health monitoring. Technology-savvy societies like Japan, Singapore and Australia are already investing in population-level pilots while private healthcare providers in emerging markets like India are introducing platform-based home health solutions to niche customer segments. Integrated home monitoring platforms include devices offered through extremely flexible and lucrative payment plans, while money is made on clinical services provided through the data captured. The market is shifting focus from stand-alone devices to comprehensive remote patient monitoring platforms for end-to-end chronic disease management.
Failure to accept the transformation by changing the current business model will result in inability to monetize, though the market is packed with opportunities yet to be explored. Vendors will struggle choosing the right business model to push their products to the market. This study analyzes the APAC market for home monitoring devices, sensors, wearables and mHealth apps as well as successful business models in this space and some innovative collaborations.
Key Questions This Study will Answer
– What is the current state of home monitoring in APAC? How will it evolve until 2020?
– What are the most promising applications of home monitoring across therapeutic areas?
– What are the current technology and usage trends in the market? How will these evolve until 2020?
– How will the structure of the market change with time?
– What are the current sales channels and will these changes to offer better access in the future?
– What are the business models that are disrupting the market?