mHealth and Home Monitoring 12th edition

mHealth and Home Monitoring 12th edition

mHealth and Home Monitoring is the twelfth consecutive reportfrom Berg Insight that gives first-hand insights into the adoptionof wireless solutions for health monitoring. This strategic researchreport from Berg Insight provides you with 320 pages of uniquebusiness intelligence including 5-year industry forecasts and expertcommentary on which to base your business decisions.

mHealth and Home Monitoring 12th edition

mHealth refers to the application of telecommunications in medicine and includes everythingfrom connected medical devices to digital care programs. The adoption of mHealth solutions inhealthcare is driven by a wide range of incentives, related to everything from demographics andtechnology development to new advancements in medical treatment. The primary focus of thisreport is on home monitoring solutions, which are commonly used to manage patients withvarious chronic conditions such as cardiac arrhythmia, sleep apnoea and diabetes. Otherapplications include remote diagnostics, compliance monitoring and clinical trials.The number of remotely monitored patients reached 76.7 million in 2023, reflecting growingmarket acceptance. This number includes all patients enrolled in mHealth care programs inwhich connected medical devices are used as a part of the care regimen. Berg Insight estimatesthat the number of remotely monitored patients will grow at a compound annual growth rate(CAGR) of 12.8 percent to reach 140.1 million by 2028. Cellular connectivity remains the de-factostandard communications technology for most types of connected home medical monitoringdevices and will account for 68.7 million connections in 2028. However, the trend of usingpatients’ own mobile devices as health hubs is gaining traction. By 2028, a total of 67.9 millionpatients will rely on BYOD connectivity.

Berg Insight estimates that revenues for remote patient monitoring (RPM) solutions reached€_40.4 billion in 2023, including revenues from medical monitoring devices and mHealthsoftware and services. RPM revenues are expected to grow at a CAGR of 13.9 percent between2023 and 2028 to reach € 77.3 billion at the end of the forecast period. Connected medicaldevices accounted for 54 percent of total RPM revenues in 2023. However, revenues for mHealthsoftware and services are growing at a faster rate and will account for 58 percent of total revenuesin 2028, up from 46 percent in 2023.

There is a strong trend towards incorporating more connectivity in medical devices in order toenable new services and value propositions. Sleep therapy is by far the most connected segmentand is dominated by ResMed. The number of monitored patients continues to grow and hasmore than doubled since 2018, largely due to the compliance monitoring requirements that havebeen introduced in the US and Europe. Implantable cardiac rhythm management (CRM) hastraditionally been the largest market segment, led by companies such as Medtronic, Abbott,Boston Scientific and BIOTRONIK that included connectivity in CRM solutions two decades ago.Berg Insight anticipates that the fastest growing market segments in the next five years are likelyto be remote ECG monitoring, glucose monitoring and medication compliance monitoring.

Today, the leading connected healthcare players in these segments include forward-thinkingincumbents as well as innovative new entrants such as AliveCor, Abbott, Boston Scientific,Compliance Meds Technologies, Evondos, Phillips, Dexcom, Glooko, Hero, Insulet, iRhythmTechnologies, InfoBionic, MedMinder, MedReady, Medtronic, Tandem Diabetes Care andWellDoc.

mHealth software and services are one of the most rapidly developing parts of the mHealth valuechain. This segment includes platforms for remote patient monitoring, which utilize connecteddevices like wearables and sensors to track vital signs and health metrics in real-time. Serviceproviders in this space offer comprehensive solutions that integrate data analytics, telehealthcapabilities and patient engagement tools to ensure continuous and efficient care. Companiesthat specialise in this area include Accuhealth, Aptar Digital Health, Alira Health (Bepatient),Biofourmis, Huma Therapeutics, Omron Healthcare (Luscii), S3 Connected Health, TeladocHealth (Livongo), Enovation and Welldoc.

The global healthcare sector is undergoing a technological transformation driven by evolvingpatient needs and the lasting impact of the COVID-19 pandemic. This has led to the steadyintegration of remote patient monitoring technologies, with telehealth and remote monitoringbecoming the new standard for care delivery. Providers are incorporating social care modelsinto public health systems to better address patient needs. Medical providers and technologycompanies are seeking ways to revolutionize care by streamlining costs, reducing hospitalreadmission rates and expanding access to care in remote areas. Key trends include the entry of new companies into the connected healthcare market, the growing importance of digital healthdata for designing patient management solutions and the rapid adoption of telehealth andcompliance monitoring. In recent years, the healthcare industry has seen a shift towards mHealthtechnologies, from fitness tracking apps to platforms integrating augmented reality and wearabletech. Artificial intelligence has advanced significantly, aiding in disease detection andpersonalized treatment by analysing large datasets. This shift supports the move from datacollection to proactive and personalized solutions. Additionally, using patients’ own mobiledevices as health hubs has become a viable alternative. Berg Insight predicts that thistransformation will drive strong growth in the mHealth industry over the next five years.