Creating commercial value out of the consumerization of medical devices
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The document discusses the consumer medical device market, which was valued at approximately $8 billion in 2012 and is projected to grow to $10.5 billion by 2017, highlighting trends in mobile health technologies and consumer engagement. It emphasizes the importance of actionable health data, user-friendly design, and tracking features, noting that while many adults track health indicators, a significant number do not utilize technology for this purpose. Furthermore, it explores commercial value generation through clear use cases, innovative business models, and cross-device integration in health tech.
Creating commercial value out of the consumerization of medical devices
- 1. KOEN DE LOMBAERT MD MBA CO-FOUNDER YUZU LABS CREATING COMMERCIAL VALUE OUT OF THE CONSUMERIZATION OF MEDICAL DEVICES
- 2. WIKIPEDIA
- 3. CONSUMER MEDICAL DEVICE MARKET • ~ $ 8 billion market in 2012 expected to grow to $10.5 billion in 2017 • Product types include BP monitors, Blood glucose monitors, hearing aids, fertility and pregnancy tests,… • Overall mature market, commoditization Consumer Medical Devices Production Yearbook - IHS 2013
- 4. CONSUMER (MOBILE) MEDICAL DEVICES • Increasing trend to use display of smartphone • The smartphone as a hub of computing power, connectivity, display of information, and social. • Mobile versions of ECG, Blood pressure monitor, glucometer and thermometer http://www.medgadget.com/2014/02/lifescan-releases-bluetooth-enabled- glucose-monitor-interview.html
- 5. KEY ASPECTS OF CONSUMER MEDICAL DEVICES
- 6. HOW TO MAKE DATA INFORMATION? ACTIONABLE INFORMATION
- 7. INDUSTRIAL DESIGN & USER EXPERIENCE • Appealing • Frictionless • Focus on wellness
- 8. ECOSYSTEM • Sensor Device • Additional data from smartphone or other sources: GPS, accelerometer, user input,… • Display information: color-coded, map, trends • Sharing with relatives, caregivers and clinicians
- 10. HEALTH TRACKING Almost 1 in 2 U.S. adults have a chronic condition. • 19% of U.S. adults reporting no chronic conditions say they track health indicators or symptoms • 40% of U.S. adults with 1 condition track • 62% of U.S. adults with 2+ conditions track ONLY 1 IN 5 USE SOME FORM OF TECHNOLOGY TO TRACK A HEALTH INDICATOR http://www.pewinternet.org/fact-sheets/health-fact-sheet/
- 11. IMPACT OF TRACKING JAMA, November 21, 2007—Vol 298, No. 19 IF 10% OF ADULTS IN THE UNITED STATES BEGAN A REGULAR WALKING PROGRAM, AN ESTIMATED $5.6 BILLION IN HEART DISEASE COSTS COULD BE SAVED. http://www.technologyreview.com/news/529031/mobile-healths-growing-pains/
- 12. IMPACT OF TRACKING JAMA, November 21, 2007—Vol 298, No. 19 THOUGH ONE IN 10 AMERICANS OWNS THE TYPE OF TRACKING DEVICE MADE BY NIKE, FITBIT, AND JAWBONE TO MONITOR STEPS TAKEN, QUALITY OF SLEEP, OR CALORIE INTAKE, MORE THAN HALF OF THOSE DEVICES ARE NO LONGER IN USE IF 10% OF ADULTS IN THE UNITED STATES BEGAN A REGULAR WALKING PROGRAM, AN ESTIMATED $5.6 BILLION IN HEART DISEASE COSTS COULD BE SAVED. http://www.technologyreview.com/news/529031/mobile-healths-growing-pains/
- 14. DERIVING COMMERCIAL VALUE • Develop a clear use case • Design for this use case • Deliver a solution • Answer to: “what do I do now that I know my numbers?” pwc-mhealth-owning-the-disease.pdf 5 Health Tech Trends to Watch in 2014 | CL Health News
- 15. BUSINESS MODEL • Pricing • Business model • Device purchase + free app • Device + app for monthly fee through mobile carrier • Device + app + premium consults for a fee • Retail channels
- 16. A TROVE OF DATA “Much more precise medicine is possible. And I for one want it. Because our smartphones are on us 24/7, we can start to do much more.” —Vinod Khosla
- 17. TRANSLATING WELLNESS AND HEALTH DATA • New field, holds great promise • More precise diagnosis and care, on the spot decision support and more granular information advancing science • Diagnostics: Propeller Health, Kinsa • Disease management: Ginger.io, Welldoc • Linq (Open mHealth) • Privacy, liability, interoperability, clinical value of the data MIT-Technology-Review-Business-Report-Data-Driven-Health-Care.pdf
- 18. USE CASE 1: DIABETES INTEGRATION GENETICS, LIFESTYLE FACTORS AND INFECTION Personal omics profiling reveals dynamic molecular and medical phenotypes.Cell. 2012 Mar 16;148(6):1293-307
- 19. USE CASE 2: HYPERTENSION Normal BP at doctor’s office High BP at doctor’s office Sustained Normotension White Coat Hypertension Masked hypertension Sustained Hypertension Normal BP during office visit and at home High BP during office visit normal at home Normal BP during office visit and high BP at home High BP during office visit and at home Better metabolic profile Low disease risk Worse metabolic profile High disease risk
- 20. TRANSLATING HEALTH AND WELLNESS DATA • Everybody his personal Watson? • Will we finally understand the interplay of behavior, environment and genomics? Nature vs nurture. THE QUANTIFIED US
- 21. TRENDS
- 22. EMERGING DEVICES: NEW FIELDS, SENSORS & TECHNOLOGIES • Urine • Microfluidics • EEG • Voice analysis • Breath analysis • …
- 23. SMART CLOTHES “INTERNET OF THINGS” SENSORS BECOME ABUNDANT AND INVISIBLE http://www.fastcodesign.com/3034808/can-ralph-lauren-take-smart-clothes-mainstream
- 24. INTEGRATION ACROSS SENSORS AND APPS • Apple HealthKit, Google Fit, Misfit • Qualcomm 2net • Linq http://mobihealthnews.com/32476/in-depth-revisiting-topols-top-ten-digital- health-targets/
- 25. “Give a man a fish and you feed him for a day; teach a man to fish and you feed him for a lifetime.” MAIMONIDES Koen De Lombaert koen@yuzulabs.com @KoenDl