The current global CO2 monitoring market in the hospital setting is $200MM with a CAGR of 20%. A much greater market size can be anticipated considering the parallels to the global clinical pulse oximetry market ($1.2 BB, CAGR 12.5%). This technology could address a larger market including pediatric patients with tracheostomies, adult patients on mechanical ventilation, and patients with more common conditions, such as obstructive sleep apnea or hypoventilation.
The development of continuous home CO2 monitoring for pediatric patients on mechanical ventilation will provide physicians and care givers quantitative means to assess respiratory status that would be more comprehensive than discrete measurements of CO2 levels during monthly clinic visits. Continuous at-home respiratory monitoring could reduce payer, provider, and patient costs by allowing faster weaning off ventilators, cutting down on the number and frequency of clinic visits, reducing unnecessary ER visits, and increasing access to rural and underserved areas. Estimated weaning cost savings and ER costs savings equal $400 million annually in the US. Data across various customer segments indicate a strong need for home monitoring of pediatric patients on home vents. There is a growing demand for a telehealth approach with cost management being a key limiting factor. Existing technologies and emerging approaches have utilized video cameras, connected pulse oximeters and connected ventilators, but lack in quantitative and direct assessment of respiratory function.
The University of Michigan would like to engage The SearchLite to conduct a Market Discovery Challenge for the home-vent CO2 monitoring system. Besides standard customer validation outputs, the goals also include: 1, understand the state of the industry and state of the art of medical device manufacturers and health IT companies in the global pediatric and adult home ventilator space; 2, verify key pains and gains for respiratory monitoring for the tracheostomy and/or sleep apnea applications.