Mark your calendars. Exactly one month from today, CES 2020, the world’s largest consumer electronics show will kick off in Las Vegas.
And we are excited to be there, for some very good reasons.
This year’s show will offer a glimpse into how our lives will change over the next few decades. Trends which will be at the forefront are artificial intelligence, health and fitness technology, 5G networks, as well as anything involving data and analytics.
According to KOTRA (Korea Trade-Investment Agency), the CTA — the organizers of CES — recently published a report of “Five Tech Trends to Watch 2020”. These five are technologies that will lead to disruptive change and shake the paradigm of the existing market in the future.
One of the five major trends at CES 2020 is digital therapeutics (DTx). As noted in our previous post, remote monitoring and data analytics are increasingly employed by medical organizations around the world to improve the safety and quality of life of their patients, further proving the seismic shift of how healthcare is moving away from 20th-century acute treatments to 21st-century chronic solutions.
So, what is digital therapeutics or DTx?
DTx is a technology that utilizes AI, the internet, and software to provide patients with interventions to prevent, manage, and treat chronic diseases like obesity and asthma.
As pills and surgeries are ineffective to treat non-acute problems, DTx aims to solve the epidemic of chronic health problems by promoting lifestyle changes.
The Future of DTx
CES 2020 will feature many guest speakers to demonstrate how the health industry is incorporating technology, artificial intelligence, wearable devices, and smart software into improving people’s health.
And the momentum has only just begun.
The DTx market is growing at CAGR 20.5% and is expected to be worth $7.8 billion in 2025. Various success stories like Propeller Health has helped thousands of patients manage their asthma (recently sold for US$225 million to ResMed) or Jogo Health, a startup with a prescription digital DTx approach to train the brain to restore muscle function, which has raised more than US$2 million last month.
Which, Brings Us Back to PiGO GO
We plan to launch PiCO GO next year, a revolutionary, wearable device that encompasses everything we’ve learned from PiCO Home to herald our entry as a DTx for pediatric asthma patients into the medical market.
As asthma is a condition best managed with therapeutic interventions rather than pills or a doctor’s visits, PiCO GO fits into this paradigm to help reduce patients’ healthcare costs by using technology, the internet, and AI. Patients and physicians can observe data in real-time and decide what diagnosis or prescription is best for them.
PiCO GO will have a high-capacity battery, a GPS, telecommunications module, and biometric sensors to read heart rates. As the momentum and adoption of DTx increase, we believe that PiCO GO will eventually be a major tool to address our 21st-century healthcare problems.
Our team will be heading to Las Vegas next month and we are excited to learn more about how DTx is evolving and revolutionizing the healthcare industry. Given what we have achieved so far with PiCO Home in the smart home market and what we will have next year, we are very excited about the future of Brilliant & Company.