Smartphone Medicine – Why Digital Health is making your life better
Mobile Health – The Future Of Healthy Living
Within the booming digital health sector and digital health investment, mobile health (also known as mHealth) has increasingly grabbed the attention of the medical and investment world. The number of applications enabling users to monitor, measure and improve their health via their mobile devices has increased exponentially, particularly in the last 5 years. At the same time, “wearables” such as FitBit and FuelBand are increasingly popular among consumers wanting to actively manage their health. Medical professionals and healthcare providers can use mHealth technology to:
- Access clinical information (e.g., through mobile health apps and mobile-enabled EHRs),
- Collaborate with care teams
- Communicate with patients (e.g., through patient portals),
- Offer real-time monitoring of patients
Private individuals can use it to:
- Track their own health data, fitness and activity levels through mHealth apps and wearable devices
- Access their clinical records through mobile-enabled patient portals
- Communicate with their doctors
Tech Giants & mHealth – A Growing Interest
Major tech giants are establishing a growing presence in mHealth. In 2014 Apple released the HealthKit, a framework designed to house healthcare and fitness apps and integrate date from both. Google followed suit the same year with Google Fit, a health-tracking platform that similarly aggregates data from all of the user’s health and fitness apps.
Apple has expressly shown interest in turning the iPhone into an mHealth device, leveraging its widespread use, technological capabilities and the iOs ecosystem. In 2016 the company purchased Gliimpse, a startup which owns a platform for personalised and shareable medical records. This was followed in 2017 by the purchase of Beddit, a producer of sleep-tracking devices. Google has similar ambitions. In 2016 it launched DeepMind Health, a project to create apps for medical professionals to identify patients at risk of complications. In 2017, the company acquired Senosis Health, a startup that collects health data via smartphones.
Apple has also pioneered wearable technology by launching the Apple Watch, which has fitness-tracking and health-oriented capabilities. The company is expanding the Apple Watch’s scope from a wellness device to one supporting medical applications. The company filed a patent in 2016 to provide EKGs via a wearable device. A glucose monitoring sensor is in development for integration with the Apple Watch, in an effort to enter the diabetes management space.
An Expanding Market & Its Global Opportunities
The global mHealth market is expected to generate $25.4 BLN in revenues in 2017, a number which will increase to $58.8 BLN (+131%) by 2020:
Revenues in the patient (or personal) mHealth segment took the top spot with $15 BLN, followed by diagnosis ($3.4 BLN) and treatment ($2.3 BLN). The growth trend is due to 2 main factors: an increase in the penetration rate of mobile devices and an increasing health consciousness of seniors. In the US, baby boomer smartphone users are projected to increase from 42.5% of the population in 2012 to 72.3% by 2020:
An estimated 95 million Americans are using mHealth technologies. Furthermore, 32% of smartphone users had at least one mHealth app in 2015, up from 16% in 2013. The number of health app downloads reached 3.2 billion globally in 2016, almost double the 1.7 billion downloads of 2013.
Sales of wearables are also expanding. Projections are for 310.4 million wearable devices to be sold in 2017 a 16.7% YOY increase. The figure is expected to reach 504.7 million in 2021.
Emerging markets growth is expected to be strong, as incomes and mobile penetration converge towards American and Western European levels. The current mHealth spending per capita is $17.7 in the USA, compared to $1.6 in Asia Pacific and only $1 in Africa:
At the same time, emerging market consumers are more inclined than developed market ones to own and use wearables:
As the growth opportunities of mHealth are becoming clearer to companies and institutional investors, investment activity has been heating up. A total of 149 financing deals were completed in 2016 for a total investment of $1.76 BLN, up from 13 deals and $296 MLN in 2012:
mHealth, Digital Health, Personalised Lifestyle Management & Life Extension – The Next Step
An increasing number of scientific studies show that life expectancy can be extended and aging slowed with fitness/lifestyle planning personalised to the user’s genetic makeup. New innovative startups, such as Invitae, are making inroads in personal genomics via apps. The company’s mobile platform will combine DNA sequencing with health and lifestyle screening tests for users.
The private sector is not the only one interested in genomics and lifestyle management. Several international organisations, including the WHO, have highlighted the importance of lifestyle changes to improve wellbeing and prevention of disease. Major nations, including Brazil, China and South Africa, have government-sponsored programs to develop genetic technology to address the health needs of their populations. Governments globally are strongly supportive of mHealth to provide healthcare in a more cost-effective fashion. Currently, 83% of the 112 member states of the WHO have at least one mHealth initiative in their country.
Suisse Life Science Group – Revolutionising Mobile Health & Life Extension
Suisse Life Science Group (SLSG) is a pioneer in mobile healthcare for lifestyle management and age prevention. Our research efforts have been entirely dedicated to research the genetic drivers of ageing and provide biologically-active treatments personalised to the user’s DNA, lifestyle and physical condition.
The result of SLSG’s research is My iDDNA®, the world’s only mobile-based technology that customises lifestyle changes in real time based on multiple factors, including:
- UV exposure
- Stress level
- Sleep quality time
My iDDNA® users benefit from the Know Your DNA service, which through meticulous genome-mapping provides tailor-made anti-aging treatments via phone app and on demand.
SLSG is now establishing strategic global agreements to license its patented technology for:
- Medical and government healthcare organisations to provide real-time patient lifestyle management
- Premium skincare brands to enhance and improve skincare products and customer experience
- DNA-testing companies to integrate personalised healthcare solutions
- Health insurers to reduce chronic disease and incentivise active prevention in their client base
SLSG has positioned itself to benefit from the fast growth of the healthcare, digital health and wellness sectors in the coming years.
Get in contact now with our investor relations manager to find out more about Digital Health Investment in start ups with EIS insurance.
Request Digital Health Investor Deck at https://suisselifescience.com/personalized-lifestyle-management/investor-relations.