Report
Teaser, summary, work performed and final results
Periodic Reporting for period 1 - KYTERA COMPANION (Disrupting the elderly home care with contextual analysis software)
Teaser
According to European Statistical System, the elderly population aged 65 and over accounted for a 39.0 % of the single-person households in the EU. Projections foresee a growing number and share of elderly persons (aged 65 and over), with a particularly rapid increase in the...
Summary
According to European Statistical System, the elderly population aged 65 and over accounted for a 39.0 % of the single-person households in the EU. Projections foresee a growing number and share of elderly persons (aged 65 and over), with a particularly rapid increase in the number of very old persons (aged 85 and over). These demographic developments are likely to have profound implications across Europe, both nationally and regionally, most directly with respect to the different health and care requirements of the elderly people.
Kytera Companion is a real-time monitoring solution for elderly people for reliably detecting emergency situations and deviations from daily routines, improving their autonomy and quality of life. The innovative Contextual Activity Analysis technology allows the detection of anomalous situations by comparing the activity context of the person with his personalised activity patterns that are dynamically adjusted over time.
A feasibility study is needed to confirm that there is a real market opportunity for the product whilst the conditions for the commercialization are beneficial.
Work performed
A work plan for the technical improvements has been defined, dividing the activities in three main groups: algorithm refinement, pre-commercial pilots, and production engineering and industrialisation.
The ageing of Europe and other developed societies represents a big market opportunity. Four main target market segments have been detected: Personal Emergency Response System and home care service providers, insurance companies and Health Maintenance Organisations. Moreover, competitors are not able to offer contextual activity analysis in real-time.
One of the patents from Kytera´s technology has been granted in the US already. The IPR analysis demonstrates that there isn´t any conflict with other existing patents.
The business plan demonstrates that the business idea is profitable and it has a positive impact.
Final results
Kytera represents a real innovation into the sector of home care for elderly population with a big market opportunity, being capable to create 10 new direct jobs since the beginning of the project and generating sales in excess of €390 M between 2021 and 2025. Kytera Companion offers, for the first time in the market, a comprehensive remote caregiver with complete emergency detection, as well as actionable wellness and predictive insights.
Website & more info
More info: http://www.kyteratech.com/.