The healthcare industry continues to be a hotbed of innovation, with activity driven by telemedicine, real-time diagnostics, smart hospitals and access to digital therapies, and the growing importance of technologies such as artificial intelligence (AI), the internet of things (IoT), augmented reality (AR), robotics and data management practices. In the last three years alone, there have been over 106,000 patents filed and granted in the healthcare industry, according to GlobalData’s report on Cloud in Healthcare: Remote continuous monitoring devices.
However, not all innovations are equal and nor do they follow a constant upward trend. Instead, their evolution takes the form of an S-shaped curve that reflects their typical lifecycle from early emergence to accelerating adoption, before finally stabilising and reaching maturity.
Identifying where a particular innovation is on this journey, especially those that are in the emerging and accelerating stages, is essential for understanding their current level of adoption and the likely future trajectory and impact they will have.
200+ innovations will shape the healthcare industry
According to GlobalData’s Technology Foresights, which plots the S-curve for the healthcare industry using innovation intensity models built on over 443,000 patents, there are 200+ innovation areas that will shape the future of the industry.
Within the emerging innovation stage, software as a medical device (SaMD), augmented reality/virtual reality (AR/VR) medical imaging interfaces, and automated clinical documentation are disruptive technologies that are in the early stages of application and should be tracked closely. Medical image display devices, 3D modelling and rendering, and AI-assisted electronic health record (EHR) are some of the accelerating innovation areas, where adoption has been steadily increasing. Among maturing innovation areas are wearable fitness monitors and medical device secure data transmission, which are now well established in the industry.
Innovation S-curve for cloud in the healthcare industry
Remote continuous monitoring devices is a key innovation area in cloud
Remote continuous monitoring (RPM) devices monitor patient’s acute or chronic conditions in the home setting and clinical practice using wireless wearable sensors. Remote continuous monitoring (RPM) devices permit patients to check their blood pressure and blood oxygen levels remotely using digital blood pressure monitors and pulse oximeters. They are also intended for patients with diabetes glucose monitors to remind them to take their insulin.
GlobalData’s analysis also uncovers the companies at the forefront of each innovation area and assesses the potential reach and impact of their patenting activity across different applications and geographies. According to GlobalData, there are 30+ companies, spanning technology vendors, established healthcare companies, and up-and-coming start-ups engaged in the development and application of remote continuous monitoring devices.
Key players in remote continuous monitoring devices – a disruptive innovation in the healthcare industry
‘Application diversity’ measures the number of different applications identified for each relevant patent and broadly splits companies into either ‘niche’ or ‘diversified’ innovators.
‘Geographic reach’ refers to the number of different countries each relevant patent is registered in and reflects the breadth of geographic application intended, ranging from ‘global’ to ‘local’.
Patent volumes related to remote continuous monitoring devices
Source: GlobalData Patent Analytics
Fresenius is one of the leading patent filers in the field of Remote continuous monitoring devices. Some other key patent filers in the field include Becton Dickinson, Baxter International, and Tandem Diabetes Care.
In terms of application diversity, Eyelab leads the pack, followed by MapHabit and RoundGlass, respectively. By means of geographic reach, Apple held the top position, followed by Becton Dickinson and Oncomfort in second and third spots.
Remote continuous monitoring (RPM) devices not only provide much better outcomes for the patients to monitor health conditions, but it enables the doctor to keep an eye on the patient’s condition with greater precision, control, and flexibility. It also helps to reduce the number of hospitalisations and readmissions, and all of these improve life quality and contain costs.
To further understand how Cloud is disrupting the healthcare industry, access GlobalData’s latest thematic research report on Cloud Computing in Healthcare.