While wearable devices such as smart watches and fitness bands that can continuously track different health parameters remotely have gained huge acceptance, says the firm, medtech companies have been trying to come up with innovative non-contact patient monitoring solutions as the answer to current market unmet needs. These solutions - which include mobile-based platforms, artificial intelligence-based algorithms, and video analysis - are now seeing increased adoption as they aid early and remote detection of respiratory complications due to the current COVID-19 pandemic.
"The healthcare industry is shifting its focus to value-based, patient-centric remote monitoring solutions, providing a fillip to the research of non-contact monitoring technologies," says Ashish Kaul, Technical Insights Senior Research Analyst. "Non-contact technologies are unobtrusive, cost-effective, and can be used to monitor multiple users, making them an effective solution for monitoring patients en masse."
"The current COVID-19 pandemic situation offers a huge opportunity for non-contact patient monitoring technologies as they facilitate the early detection of respiratory complications in suspected patients," says Kaul. "The adoption of non-contact monitoring methods will also reduce the chances of infection among physicians and healthcare workers. These technologies can also be leveraged by pharmaceutical companies to monitor the results of the drugs developed by them."
For further revenue opportunities, says the firm, market participants should explore the following:
- Sound analysis technology for remote monitoring of influenza-like illness (ILI) patients based on their cough
- Video-based, non-contact monitoring technology that can diagnose mental stress by detecting physiological and emotional signs such as depression, anger, and restlessness
- Radar sensor technology that can track respiration and heart rate for symptoms of respiratory diseases such as asthma, COPD, and COVID-19
- Non-contact, sensor-based technology that can track heart rate, respiration rate, and blood pressure for individuals interested in health and fitness
- The telehealth market, which will experience a significant increase due to mobile platform technology