Connected Care in North America 3rd Edition

Connected Care in North America 3rd Edition

Connected Care in North America is the third consecutive reportfrom Berg Insight analysing the latest developments on the medicalalert system and remote patient monitoring (RPM) markets in thisregion. This strategic research report from Berg Insight providesyou with 150 pages of unique business intelligence including 5-yearindustry forecasts and expert commentary on which to base yourbusiness decisions.

Connected Care in North America 3rd Edition

The ageing population and the increasing prevalence of chronic diseases will be two of thegreatest challenges in North America during this century. It is widely believed that connectedcare solutions can ease the burden on society by enabling more efficient delivery of care andallowing people to live independently for longer. Berg Insight’s definition of connected careincludes medical alert systems and remote patient monitoring (RPM) solutions. Medical alertsystems, also known as personal emergency response systems (PERS), comprises solutionsthat trigger an alarm when the user presses a button or when a passive sensor detects anaccident. RPM solutions comprise connected medical devices and monitoring services that areused for remote management of patients suffering from arrhythmia, asthma, chronic kidneydisease, chronic obstructive pulmonary disease, congestive heart failure, coronary arterydisease, diabetes, hypertension or obstructive sleep apnea.

At the end of 2023, there were 33.3 million people that relied on connected care services in North America. RPM is the largest and most mature segment of the connected care market with a total of 29.9 million users at the end of 2023. The market for medical alert systems is considerably smaller with an estimated total of 5.2 million users at the end of 2023. There is an overlap between the market segments as medical alert system users can also be equipped with an RPM solution, and vice versa. The market is forecasted to grow at a compound annual growth rate (CAGR) of 11.4 percent during the next five years to reach 57.2 million connected care users by 2028. Berg Insight expects that RPM will remain the largest segment of the connected care market with a forecasted 52.7 million users in 2028. The number of medical alert system users will at the same time reach 7.5 million units.

Berg Insight estimates that connected care revenues in North America reached US$ 33.3 billionin 2023. This includes revenues from medical alert systems and remote patient monitoringsolutions. The market is expected to grow at a CAGR of 12.5 percent in the following five yearsto reach US$ 60.0 billion in 2028. RPM solutions accounted for the largest share of the marketvalue in 2023 and will remain in lead during the forecast period.

The market for RPM solutions involves a wide range of actors, from specialised equipmentvendors to integrated mHealth solution providers. The leading RPM application has thus far beensleep therapy compliance monitoring. Patients that suffer from sleep-disordered breathing suchas obstructive sleep apnea (OSA) are typically prescribed an airflow generator. However, manypatients find the devices unpleasant to use and poor compliance is common. Payers increasinglyrequire that patients comply with their treatment plans to be reimbursed for the device which has driven equipment vendors to connect the devices. The sleep therapy device segment isdominated by ResMed. Examples of major players in the RPM segment include Abbott,Accuhealth, Biofourmis, BioTelemetry, Current Health, Lark Health, Medtronic, Omada Health,Omron Healthcare, Optimize Health, Philips, Teladoc Health (Livongo) and Withings. The marketfor medical alert systems is mature and key actors include Anelto, Climax Technology, ConnectAmerica, Essence Group, Freeus (Becklar Group), Lively, LogicMark, MobileHelp (MedicalGuardian) and Mytrex.

The North American market for connected care solutions is affected by several trends anddevelopments that will have an impact on the competitive landscape in the next years. Changingdemographics is driving the demand for home care, while technological developments andregulatory changes affect the competitive landscape for solution vendors. At the same time, theindustry is becoming more patient-centric which calls for integrated systems and improvedinteroperability of connected care solutions. New companies are entering the connected caremarket and connected medication management solutions are today in the centre of attention forstart-ups. An incipient convergence of the medical alert system and remote patient monitoringmarkets can be seen, where some medical alert system providers have started to add remotepatient monitoring services to their solutions. Artificial intelligence has made significant progress, from disease detection to personalizing treatments analysing large amounts to patient data. The transition has further supported the shift from data collection to proactive personalized solutions. Finally, cybersecurity is very important in the context of digital health solutions and it is clear that more work and investments need to be done to ensure that patients and their data are kept safe also in the future.