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March 25, 2022

Increasing usage of software medical devices in remote patient monitoring

Remote patient monitoring allows patients to better manage chronic conditions in the comfort of their own homes.

By GlobalData Healthcare

Software as a medical device (SaMD) is a growing area as technology evolves and becomes integrated into healthcare systems. In particular, the International Medical Device Regulators Forum defines SaMD as ‘software intended to be used for one or more medical purposes that perform these purposes without being part of a hardware medical device’.

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Medical Device Industry Landscape In Asia-Pacific

GlobalData's APAC Medical Devices Industry Landscape – 2022 free study breaks down the APAC medical devices market by segment and region and includes insights on local and global competitors, pipeline product developments, clinical trials studies, and significant deals in the industry. The APAC medical device industry witnessed significant developments, launches, implementations, and adoption of new medical device technologies in the past decade, however the high cost of devices, regulatory hurdles, reimbursement pressure, and healthcare budget constraints have challenged market expansion across various territories and segments. APAC is the fastest growing regional market for medical device clinical trials, with China and Japan emerging as major clinical trial hotspots. The growth in medical device clinical trials in the APAC region is attributed to an increase in research partnerships between biopharma companies and clinical research organizations (CROs). This report also provides an in-depth analysis of the medical device market's opportunities and challenges, the influence of COVID-19 on the market, and government activities aimed to develop the APAC medical device market.
by GlobalData
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Remote patient monitoring (RPM) allows patients to better manage chronic conditions such as diabetes, insomnia and asthma in the comfort of their own homes. RPM systems allow physicians to monitor their patient’s vitals and unique condition biomarkers through transmitting data collected to a monitoring system or to a physician’s office for further assessment. For example, Pear Therapeutics developed a mobile health app, Somryst, that is a prescription-only cognitive behavioural therapy for chronic insomnia (CBT-I). The digital therapeutic allows physicians to monitor patients’ progress such as their sleep efficiency and insomnia severity remotely through the clinician dashboard.

In addition, SaMD can support physicians in decision making and treatment options, as well as provide early diagnosis of some diseases. The Royal Philips Capsule Surveillance solution is a clinical surveillance system that can live-stream data from any connected medical device, aggregate patient data, analyse data to create actionable insights, and notify healthcare professionals to intervene if needed. The Capsule Surveillance system also reduces hospital infrastructure complexity due to its large capacity. Since regulations for SaMD are still evolving while technology progresses, regulations are likely to remain behind technological advancements. As such, the limiting factor to new product launches is the establishment of adapted regulations.

GlobalData reports the RPM market to be valued at $585.5m this year and growing to $760m in 2030. And as technology advances and hospitals integrate more software, we expect to see a growth in SaMDs in RPM and other healthcare sectors.

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Medical Device Industry Landscape In Asia-Pacific

GlobalData's APAC Medical Devices Industry Landscape – 2022 free study breaks down the APAC medical devices market by segment and region and includes insights on local and global competitors, pipeline product developments, clinical trials studies, and significant deals in the industry. The APAC medical device industry witnessed significant developments, launches, implementations, and adoption of new medical device technologies in the past decade, however the high cost of devices, regulatory hurdles, reimbursement pressure, and healthcare budget constraints have challenged market expansion across various territories and segments. APAC is the fastest growing regional market for medical device clinical trials, with China and Japan emerging as major clinical trial hotspots. The growth in medical device clinical trials in the APAC region is attributed to an increase in research partnerships between biopharma companies and clinical research organizations (CROs). This report also provides an in-depth analysis of the medical device market's opportunities and challenges, the influence of COVID-19 on the market, and government activities aimed to develop the APAC medical device market.
by GlobalData
Enter your details here to receive your free Report.

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