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Assisted living in europe technology and market trends 2010

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  • 1. Will Assisted Living Provide the Answer to the Challenge of Caring for theGrowing Elderly Population in Europe? Somsainathan C K Research Analyst – Patient Monitoring Healthcare EMEA 30 November 2010
  • 2. Somsainathan .C.K. Functional Expertise More than a year of experience in research and consulting with healthcare. Expertise in market analysis and reasoning, gained by working with various clients and doing exploratory research on different topics. Particular expertise in: - Market Analysis on various patient monitoring devices - Generating research services, including Market Sizing, Competition Analysis, Product benchmarking and Geographic Analysis - Consulting for clients on market entry strategies and market mapping methodology - Best Practices and Research on Awards Industry Expertise Experience in covering a broad range of product segments in the patient monitoring domain, leveraging long- standing working relationships market participants and exploring disruptive market trends and features. - Remote Patient Monitoring - Ventilation and Airway Management DevicesSomsainathan.C.K - Neurophysiological MonitoringResearch Analyst - Data Management SystemsFrost & Sullivan What I bring to the TeamChennai Efficient delivery of business solutions and market analysisIndia Experience in competition and product analytics Pragmatic management of information Management of relationships with market participants Career Highlights Started professional career with Frost & Sullivan in 2007 2 years of experience in e-marketing and market analysis for various industry segments prior to moving into mainstream research for Healthcare Education Bachelors of Commerce, University of Madras, Chennai – India Postgraduate Diploma in Business Administration (PGDBA) Symbiosis 2
  • 3. Agenda 1 Introduction to Assisted Living Technologies (ALTs) 2 Market Overview Market Impact of Top Growth Trends 3 Will ALTs Provide the Answer - Elder Care in Europe? 4 Market Dynamics 5 Geographic Analysis 6 Opportunity Analysis 7 Future Outlook 8 Major Market Participants 9 Conclusion 10 3
  • 4. Introduction to Assisted Living Market in EuropeAssisted Living concept, technologies and Telecare Telehealthdevices intersect three core domain oftechnologies and services, that is, telecare,telehealth and smart homes. It has no lucid Assisted livingdescription or definition and has been technologiesperceived differently in different countries. Smart Homes Geographic Scope > The United Kingdom > Germany Market Segmentation > France > Spain > Italy Assisted Living in Assisted Living in > Scandinavia Institutions Residences > Benelux 4
  • 5. Market Overview Key Market Trends • Technology Trends – Usage of broadband communication,The market generated $154.9 wi-fi, networking capacity and efficient integration of million in 2009 devices allow multimedia communications between homes and community centres. However, there is a difference in the usage of such technologies among various age groups Germany is the biggest of end users and it varies from country to country. Hence a market with 32.9% market unified approach in the usage of technology might not be share in 2009 successful in this region. • Economic - Economies of • Demographic – Europe are struggling to CAGR: 22.6% between 2010 match the demand for social and 2015 Increasing elderly population is posing a care with the supply of funds. Most of these economies are challenge for the policy makers in terms of social- emerging from the brunt of AAL (Ambient Assisted the recessionary phase and security. The demands andLiving) is boosting the market consumer behavior of the are looking for affordable activities elderly are likely to change. alternatives technologies that allow optimum usage of limited resources. 5
  • 6. Market Impact of Top Growth Trends High Impact Medium Digital High Communication Growth Growth Impact Impact Buoyancy in investments Reduction in Costs Shift in Ambient Projected Demand Assisted Impact on the LivingEuropean AssistedLiving Technologies Interoperability Diversification Market Dependence on Low Govt. Support Growth Low awareness Impact Low Impact Low High Certainty 6
  • 7. Will Assisted Living Technologies (ALTs) Providethe Answer? Dependence Easy on Adoption Government Cost – and Usage Support Effective Practice Solution to Mitigate the High Challenges Attention to Buoyancy in Technology Investments Low Low Awareness Ambient Receptiveness Assisted Living Assisted Living TechnologyAssisted Living Technologies is the right answer for the growing elderly population in Europe.Most European economies are just stepping out of the after math of recession and allocatingthe required funds for formal care will prove to be a costly affair. Governments areincreasingly willing to invest into such technologies that help in achieving enhanced socialcare for the elderly and disabled as this will help in reducing healthcare and social care costsfor the old. The above mentioned factors are the reasons for assisted living technologies’accelerated growth in Europe. 7
  • 8. Market Dynamics Demand for Rising Elderly Low Market Standardisation Managed and Population Penetration of Healthcare Personalised Systems Care Market Drivers Market Dynamics Market Restraints Low Unclear Increasing Awareness Low Profit Reimbursement Price Levels Margins Models Competition 8
  • 9. Geographic AnalysisTotal Assisted Living Technologies Market: Per cent Organisations from variousof Revenues by Geographic Region (Europe), 2009 European countries who are active in research areas of assisted living 1.5% 14.7% 27.8% Organisation 4.1% Telefónica I+D The United Kingdom3.0% Germany INGEMA France Spain TEKES Italy Scandinavia Royal Institute of Technology16.0% Benelux Budapest University of Technology 32.9% Fraunhofer Society Empirica AG Note: All figures are rounded; the base year is 2009. Source: Frost & Sullivan Vienna University of Technology Scandinavia includes Denmark, Norway and Sweden Benelux includes Belgium, Netherlands and Luxembourg SIEMENS AG 9
  • 10. Opportunity Analysis Capitalising on the$154.9 current opportunitiesmillion will help market(2009) participants to tap the market potential Diversification R&D Interoperability Developments Assisted Living Market Digital Competitive Costs Communication $ 525.56 Shift in Demands million (2015) 10
  • 11. Future Outlook Future Outlook Increased developments in the product and improving acceptance will lead to Capital Costs reduction in capital costs. Improved technologies will lead to interoperability of systems using openInteroperability platform software, that will provide access to systems globally. Specialist Market is witnessing an effective increase in usage of specialist software that will Software help in enhancing the usage practices. Demand for personalised systems is leading to increased customisation ofCustomisation products to suit individual needs. Long term success largely relies on product differentiation in a market dealing inDifferentiation homogenous products. Product differentiation will given high importance. Digital Accelerated rate of adoption of technology into healthcare is enhancing the use of Technology digital communication technology in assisted living. Funding from governments and other institutions will soon be restructured to Funding make the assisted living technologies market more organised. 11
  • 12. Major Vendors in Assisted Living Technology inEurope 12
  • 13. Conclusion – Key Take-Away Increased competition among Deep understanding of market device manufacturers leading demand to enhanced features and Product customisation to suit EXTERNAL INTERNAL developments in products Competitive the needs of end-users Increased R&D investments Factors Stronger customer relationship made by various European Constant up gradation in Governments influencing software and features will lead market participants to to better usage of equipment capitalise on market growth. Vital changes in the assisted living technologies market Increasing receptiveness towards technology Improvements in the regulatory scenario 13
  • 14. Next Steps• Request a proposal for or Growth Partnership Services or Growth Consulting Services to support you and your team to accelerate the growth of your company. (enquiries@frost.com)• Join us at our annual Growth, Innovation, and Leadership 2011: A Frost & Sullivan Global Congress on Corporate Growth (www.gil-global.com)• Register for Frost & Sullivan’s Growth Opportunity Newsletter and keep abreast of innovative growth opportunities (www.frost.com/news) 14
  • 15. Your Feedback Is Important to Us What would you like to see from Frost & Sullivan?Growth Forecasts?Competitive Structure?Emerging Trends?Strategic Recommendations?Other? Please inform us by taking our survey 15
  • 16. Follow Frost & Sullivan on Facebook, LinkedIn,SlideShare, and Twitter http://www.facebook.com/pages/Frost-Sullivan/249995031751?ref=ts http://www.linkedin.com/companies/4506 http://www.slideshare.net/FrostandSullivan http://twitter.com/frost_sullivan 16
  • 17. For Additional Information Somsainathan. C.K Sumit Sharma Research Analyst Director Healthcare – Europe Healthcare - Europe Somsainathan.ck@frost.com +44 207 343 8383 Sumit.sharma@frost.com Katja Feick Corporate Communications Manager, Europe Direct: +49 (0) 69 7703343 katja.feick@frost.com 17