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PES2020-Prosj.etabl.støtte H2020

Informed fever care. Empowering health awareness, medical care, and diagnostics by changing the way we monitor and use body temperature data

Awarded: NOK 74,999

Project Number:

298398

Project Period:

2018 - 2019

Funding received from:

Organisation:

Location:

Feedback from the market demonstrates a need for improvements in systems that are currently used to provide fever monitoring of patients; single measurements at discrete points in time, with non-repeatable accuracy. This is a grim contrast to possibilities made available and utilized by smart sensor technology in other areas of the medical field. Improved monitoring facilitates better diagnostics, which in turn ensures optimal treatment for patients, better working conditions for health professionals, peace of mind for parents, and a major impact on issues related to the senior wave The gold standard in most hospitals is manual rectal measurements. As an example, the estimated time used for manual fever monitoring in Europe is equivalent to 126,841 FTEs and €261M in consumables, or €4,8bn in total cost. We estimate we can reduce the time spent by more than 95%. ONIO will provide a solution at a cost 4 times lower (10 times after cost down) than the current products, and be accessible to both the consumer market as well as the professional healthcare market. Improved monitoring will facilitate better diagnostics and treatment, peace of mind for parents and caregivers, reduction of staff hours related to collecting and analyzing data. In turn, this will alleviate the pressure on health professionals as well as reduce expenditures. The objective is to introduce the first product ONiO.temp for children on the consumer market by the end of 2020. With the ultimate target of global expansion, there will be a progressive escalation, starting in 2020 with Scandinavia as the home market, expanding to selected countries in the European market by early 2021. Based on sales estimates from pharmacies, we expect a positive ROI second half of 2021, a 28 % market share of a €2348M market in Europe and a Gross profit of €195M after 5 years in the market. Growing from 15 employees in year 1 to more than 150 employees in year 5.

Funding scheme:

PES2020-Prosj.etabl.støtte H2020