Over the next decade there will be dramatic changes in the way national healthcare systems operate. People are living longer, and the longer they live, the more healthcare they need. Western governments acknowledge that fundamental changes are needed if healthcare provision is to be maintained.
At the centre of this changing landscape lies the innovative convergence of medical and consumer technologies. While the population has always had access to basic medical devices it is only very recently that more advanced technologies have become available. As technology convergence gathers pace, a new multi-billion dollar market will emerge.
Convergence drivers
- Demographics – The “baby boomer” generation – those born between 1946 and 1964 – are more knowledgeable and more interested in their own health than previous generations. They are more mobile, more affluent and better educated. They are the first generation to feel “at home” with technology. This, in conjunction with increased life expectancy, has led to a greater interest in medical technology and its benefits.
- Patient empowerment – Rapid access to health information on the internet, coupled with the emergence of online medical message boards and self-help groups allows consumers to learn about their heath and how to diagnose and treat illness.
- Shift away from acute care facilities – Over the past 20 years there has been a shift from hospitals to longterm care facilities, outpatient clinics and the home. The primary driver is cost but the desire to improve patient comfort has played a part, supported by improvements in medication and technology.
Convergence hot topics
- Disease management – The prevention and management of disease is the primary target for convergence. In the US for example an estimated 125 million Americans have chronic health conditions, a figure that is set to rise to 175 million patients by 2020. This situation is much the same across most developed countries. Through technology convergence, there is an opportunity to meet the needs of this growing patient population and counter the rising cost of healthcare.
- Remote patient monitoring – A further area of considerable interest is the electronic transmission of health information for remote patient monitoring (RPM). Publicly funded pilot studies are already being undertaken with considerable commercial interest being shown.
- Diagnostics – Diagnostics is also a vast market for convergence. Blood glucose monitoring by diabetics is already an established market. By interpreting symptoms in an unambiguous way, diagnostics can lay the path for therapy, with personalised medicine being the Holy Grail. Diagnostics also play a significant role in reinforcing patient compliance during the administration of a therapy (ie sticking to their get-well plan).
- While the opportunity for technology convergence is growing, there are challenges to be overcome. Significant among these include a thorough understanding of consumer psychology by manufacturers. Whereas clinicians adopt a functional view of medical technology, consumers’ buying decisions are based on a wider range of criteria, many of which will be distinctly non-medical!
Issues around the reimbursement of medical technology means that the value of devices will need to be demonstrated before wide-scale take-up occurs. Regulatory and professional bodies also have justifiable concerns: allowing patients to self diagnose for life-threatening viruses such as HIV, without appropriate backup counselling services, raises a number of ethical issues.
There will also be understandable resistance from healthcare professionals who have been trained to be cautious in the adoption of new technology. The nature of the opportunity means that few companies – even those acknowledged as “leaders” in their particular fields of operation – will have the in-house expertise across the board to undertake opportunity discovery, market and voice of the customer research, patent landscaping and product development. These are all critical components of the innovation mix.
At Sagentia, we are well placed to work with customers in this field, wherever they may be. With 200 staff and offices in the US, Europe and the Far East, we have many years’ experience in both consumer product and medical device development, from remote monitoring in cardiology through to mobile child monitoring units for parents and carers. Through our work in both areas, we understand the innovation process and we are able to bridge the gap between consumer aspiration and real medical technology.
More information:
E-mail: info@sagentia.com
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Tags: Healthcare, life science, Sagentia, health technologies, diagnostic