“Connected Medical Devices: Bridging the Gap Between Wearables and Clinical Applications”

Recently, fellow BCC Research senior editor Michael Sullivan and I discussed the future of wearable medical devices, especially those that link clinical and consumer applications, such as diabetes. In fact my remarks focused on diabetes applications including hybrid closed loop systems by Insulet, Medtronic/Guardian Sensor, Tandem/Dexcom and Bigfoot/Abbott, plus mobile monitoring app Glooko. This article is a recap of key points, plus an overview of a recent report on connected med devices overall.

Insulet impressed me several years ago, and continues expanding from its’ foundations in Type 1 diabetes (focusing on pediatrics), into Type 2 and increasingly other drug delivery applications.

Last month FDA cleared the Glooko Mobile Insulin Dosing System for the titration of long-acting (basal) insulin for people with type 2 diabetes. The current practice model of insulin-dose titration is labor-intensive, which makes it challenging for patients to reach glycemic targets. While there are other products in this space (some also FDA cleared), Glooko is making strides, last year surpassing 1 million patients via 6,000+ providers, and pulling down $35 M in a recent Series C round that values the company over $500 M.

The Glooko app allows clinicians to create customized treatment plans including insulin titration rules that they then "push" to the patient. The Glooko platform integrates with 95% of the blood glucose meters on the US market, so the verified data can be directly uploaded, rather than manually entered. The System analyzes fasting plasma glucose levels and recommends insulin dose adjustments based on the clinicians' preprogrammed treatment plan and/or published clinical diabetes management guidelines. The app also reminds patients to check their fasting glucose levels and to take their insulin.

Broadly speaking, wearable medical devices are big business. BCC Research’s study, Wearable Medical Devices: Technologies and Global Markets, analyzes how these devices monitor blood sugar and glucose; chronic illnesses such as cardiovascular disease and diabetes; and other parameters. It details the recent advances in materials science, electronics, photonics, and software that are key growth factors, both for traditional nonconsumer markets and new consumer applications. The report also examines barriers faced by the market, such as high costs of devices, issues with reimbursement, and lack of awareness in developing countries. Global market drivers and trends, with projections of CAGRs through 2021, are provided.all contributing to expansion of the global market for wearable medical devices.

The global market for wearable medical devices is expected to increase from $5.5 billion in 2016 to nearly $19.5 billion in 2021, demonstrating a five-year compound annual growth rate (CAGR) of 28.8%. The US market is forecast to reach $8.7 billion in 2021, at a five-year CAGR of 27.9%. The Asian market should reach nearly $4.0 billion in 2021, up from $908 million in 2016, reflecting a CAGR of 34.5%.

GLOBAL MARKET FOR WEARABLE MEDICAL DEVICE TECHNOLOGIES BY REGION, 2015–2021

For more information, see bccresearch.com for report code HLC192A. We look forward to monitoring these connected medical developments and tracking progress in these fascinating high-value applications!