Remote Patient Monitoring – Opportunities for Pharma – Thematic Research
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Remote patient monitoring (RPM) relies on digital health technologies and connected devices to record vital signs and relay data and information to patients, careers, and physicians or healthcare teams. RPM enables clinicians to track patients in real time through a clinician dashboard or directly within a patient’s electronic health record (EHR), allowing timely intervention if necessary. RPM also gives patients more control over their health and a sense of empowerment, while improving health outcomes. The use of RPM has gained significant traction since the beginning of the COVID-19 pandemic in early 2020, with increased demand for alternatives to in-person care as a result of social distancing and lockdown measures. The different types of RPM technologies, such as wearables, mHealth, and telemedicine, have been tapped by the pharmaceutical industry for use across its value chain from drug development through post-marketed strategies.
Wearable devices: Wearable devices are becoming increasingly disease-oriented, as medical devices is one of the fastest growing areas in the life sciences. As such, medical device companies are shifting their interest from consumables to disease/care management services and products. Wearable tech is becoming more advanced, with better battery life and multiple sensors driving more complex and capable devices, accelerated by ever-smarter algorithms powered by artificial intelligence (AI) and machine learning (ML).
mHealth: As part of telehealth, mHealth utilizes mobile technology and smart devices to achieve improved health objectives and outcomes, healthcare services, and research. Increasing network coverage and newer devices and software offer novel opportunities for integration into existing health systems, placing mHealth technologies in a good position to promote quality healthcare. Additionally, mHealth can be applied across clinical research to improve drug discovery and development through to post-market surveillance, as well as directly by consumers.
Telemedicine: Telemedicine became an invaluable tool during the COVID-19 pandemic, allowing patients to connect with and receive care from their HCPs while maintaining safety and minimizing transmission risk. Telemedicine has also been used to mitigate the disruption seen to clinical trials, allowing participants to engage and communicate with investigators and other research staff from the comfort of their own home.
What are the key technology trends impacting the remote patient monitoring market?
Increased interest and activity in RPM solutions: There has been an increase in applications using IoT sensors seeing adoption by hospitals, surgical centers, medical care centers, CROs, and research/diagnostic laboratories. RPM is just one application of IoT sensors in healthcare, and as the population of digitally savvy users who own smartphones and personalized hardware grows, the feasibility of RPM becomes more likely.
Wearables and the collection of health data: Wearable tech in healthcare gives patients the power to track their health at home through things like smartwatches, biometric clothing, e-skin, and biosensors. Currently, the largest market in this space is activity monitors, which is being driven by the sports and fitness segment. However, these devices have expanded significantly within the healthcare market, gaining regulatory approval as medical-grade devices.
Increased availability of mHealth apps: The variety of mHealth tools available to capture patient data is expanding rapidly, as publicly available apps are becoming ubiquitous and a large portion of the population in the US and Europe own smartphones. These mHealth apps offer to help disease management, RPM, and medication adherence across disease indications.
Big Data and AI will continue to dominate as transformational forces in healthcare: The generation of big data enables better monitoring of disease and insights into disease risk prediction and earlier detection, which is especially relevant for neurological conditions that rely on diagnoses that often occur at a late stage when little intervention is possible. Big Data and AI-powered analysis tools can also be used in pharmaceutical research and healthcare service delivery across a spectrum of digital health technologies, and more widely across processes ranging from target identification to commercialization activities. It will eventually reduce R&D cycle time and costs, paving the way to stronger and more sustainable drug pipelines.
Cybersecurity: As the healthcare industry becomes more digitized, there are more avenues for cybercriminals to steal personal and proprietary data, including from medical health records and connected medical devices. Connected devices that collect personal health data, such as wearables, frequently exchange data with paired devices via Bluetooth, which makes them especially susceptible to hacking. Thus, all digital health vendors have recently stepped up their efforts to enforce encryption standards recommended by the Bluetooth Special Interest Group. There is a competing need for enhanced cybersecurity for large healthcare companies and smaller digital health players to ensure cybersecurity and patient safety risks are taken into consideration.
What is the value chain for remote patient monitoring market?
The RPM can be adopted across the entire pharma value chain to various ends. For example, mHealth, wearables, RPM, and telemedicine impact most of the pharma value chain from drug discovery and development, drug approval, and post approval, all the way through to sales and marketing, as well as directly to patients.
The remote monitoring technologies can be used across the pharma value chain:
- Drug discovery and development
- Drug approval & post approval
- Manufacturing & supply chain
- Sales & marketing
- Patients
Which are key companies in the remote patient monitoring market?
Key companies in the remote patient monitoring are AbbVie, Amgen, Astellas, AstraZeneca, Bayer, Biogen, BMS, Eli Lilly, Gilead, GSK, J&J, Merck & Co., Novartis and Novo Nordisk.
Market report scope
Key companies | AbbVie, Amgen, Astellas, AstraZeneca, Bayer, Biogen, BMS, Eli Lilly, Gilead, GSK, J&J, Merck & Co., Novartis and Novo Nordisk |
Scope
- Key players in the RPM space, with a focus on technology providers and pharma adopters where applicable. The report focuses on any remote monitoring technologies that big pharma has integrated into RPM projects and solutions.
- Thematic briefing which explores different types of RPM in more detail, including wearables, portable devices, mHealth, and telemedicine.
- Key trends impacting the RPM space. Industry trends include the impact of COVID-19 on clinical trials and digital health innovation, how RPM is driving value-based care and increased patient empowerment, and the impact of increased burden of chronic diseases. Technology trends include the role of wearable technology, mHealth, telemedicine, Big Data and artificial intelligence (AI), and cybersecurity. Regulatory trends include the lack of regulatory frameworks for virtual trials and guidelines issues during COVID-19 to support continuation of clinical research.
- Opportunities and challenges for pharma: Opportunities include such changing regulations, continued acceptance of digital technologies, increased collaborations, patient support programs, and value-based care. Challenges include data privacy and security, interoperability, design challenges, and skills shortages.
- Value chain looking at how RPM can be used across the pharma value chain, from drug discovery and development, post drug approval, sales and marketing, and patient use.
- Industry analysis with an analysis of virtual trials including those generating real-world evidence, use of telemedicine during the pandemic, analysis of mobile apps from pharma, as well comprehensive deals, jobs, and Influencer analyses. This section also includes case studies and survey and poll data.
- Profiles of private and public companies in the RPM space.
Reasons to Buy
- Assess who the leading technology players are in the RPM space, as well as leading pharma adopters.
- See examples of how pharma companies are integrating remote monitoring technologies into their value chains.
- Understand what trends are driving the use of RPM, and also what opportunities and challenges exist for pharma in the space.
- See how the RPM landscape is evolving, with a review of company activity including mergers and acquisitions (M&A), strategic partnerships and funding deals, as well as a jobs analysis.
- Assess the impact of COVID-19 on the use of remote monitoring technologies by physicians.
Pfizer
Roche
Novartis
Takeda
AbbVie
AstraZeneca
Sanofi
GlaxoSmithKline
Eli Lilly
AliveCor
Empatica
Livongo
Omron
Teladoc
Amwell
Aural Analytics
Evidation
Huma
Science37
Medable
THREAD
AiCure
Akili
Babylon
Biobeat
Qardio
Biofourmis
Thirty Madison
Doctolib
Lightship
Studies&Me
Table of Contents
Frequently asked questions
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Which are the key companies in the remote patient monitoring market?
Key companies in the remote patient monitoring market are AbbVie, Amgen, Astellas, AstraZeneca, Bayer, Biogen, BMS, Eli Lilly, Gilead, GSK, J&J, Merck & Co., Novartis and Novo Nordisk.
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What are the different types of RPM technologies?
The different types of RPM technologies are wearables, mHealth, and telemedicine.
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