Medical Need & Target Markets
At its core, CareTaker is a platform technology that can measure CNIBP and other physiological data for viewing by Clinicians.
Using our low-energy Bluetooth technology, CareTaker can also collect and display data from other BLE-capable devices such as weigh scales, gluclose meters, insulin pumps, and fall detectors, to provide a comprehensive view of a patient’s health.
Though the CareTaker platform has broad sweeping clinical applications such as Personal Wellness, Sleep Studies, Veterinary Medicine, and Oral Surgery, the company is initially focused on addressing 3 key medical market segments:
1. Non-Invasive, Hemodynamic Monitoring
30% of all ICU Patients receive an invasive Arterial Catheter for continuous blood pressure monitoring (over 7M placements in the US), and have significant complication rates (infection, occlusion, sepsis, etc. (Figure 3).
- Non Invasive Hemodynamic Monitors are emerging to replace A-Lines, accounting for $150M of $540M annual market.
- CareTaker’s Low-Cost, Realtime, Beat-by-Beat BP and HR is a tested solution which reduces risk and dramatically reduce costs.
2. Remote, Home Care “Telemedicine” Market
By 2018, there will be 7 Million “Telemedicine” patients representing a $4.5B Market (Figure 2).
- Hospitals now need to monitor patients at home after discharge to prevent Re-Admission Penalties
- Aging Baby Boomer segment means Long Term Care needs are increasing
- Exploding Pervasiveness of Tablets, Connectivity, and Cloud Information means patients are expecting a “connected patient” to track recovery
- CareTaker can easily be sent home with a patient to track vital signs securely.
3. Wireless “Connected Patient” Hospital Vital Sign Monitoring
Still dominated by ‘traditional monitors’, the global market for Vital Sign Monitors is $3.15B, growing at 6.6% CAGR. The US market will grow 40% to $1.3B in 2018 (Figure 1).
- Many hospitals are in Upgrade/Replace life cycle of traditional bedside monitors
- Traditional Monitors can ‘talk’ to central nurses stations, but still are still mounted on a wall or pole and require a cumbersome myriad of wires, leads, and hoses to be connected to the patient.
- CareTaker Wireless Monitoring attaches to a patient’s wrist with a simple finger cuff, allowing mobility, so patient stays connected & monitored as they move between hospital departments (ER, Radiology, MRI/CT, Lab, etc),
- Wireless Mobile monitoring studies suggest lower hospital costs and improved outcomes. CareTaker may reduce hospital liability by monitoring pre-admit ER patients, waiting for bed, during ambulatory transport, etc.