Nascent market for connected wearable patches holds great promise
BOULDER, Colo. — According to a new report from Tractica released Monday, worldwide unit shipments of clinical and non-clinical connected wearable patches (not wearable devices) will grow to 12.3 million annually by 2020, up from just 67,000 in 2014. During that period, the market intelligence firm forecasts that the market for such patches will increase to $3.3 billion annually.
“The nascent market for connected wearable patches holds great promise, with the potential to improve the health of patients and contribute to lower healthcare costs,” stated principal analyst Charul Vyas. “It is, however, still very much in the early stages of development and commercial availability. Connected wearable patches face a variety of challenges that must be overcome in the next several years in order for the market to thrive.”
Connected wearable patches include patches, tattoos, or small devices that are affixed to the skin and worn for a limited period of time, ranging from an hour to several weeks. The patches also have an element of wireless connectivity, and have a medical, health or wellness purpose that can range from monitoring physiological data to delivering medication.
Driven by rising healthcare costs, a growth in the number of people with chronic diseases and aging populations, connected wearable patches are becoming an attractive solution for governments, insurance companies and care providers, all of whom are searching for more cost-effective ways to monitor, diagnose and treat patients.
Ferndale launches RectiCare Medicated Anorectal Wipes
FERNDALE, Mich. – Ferndale Healthcare recently introduced RectiCare Medicated Anorectal Wipes. Formulated with lidocaine 5% and glycerin 20%, these dual-action wipes provide effective relief from the pain, itching and discomfort of hemorrhoids and other anorectal disorders, while also forming a protective coating over inflamed tissues to temporarily protect irritated and inflamed perianal skin.
RectiCare Medicated Anorectal Wipes contain 12 individually packaged pre-moistened wipes which are discreet and portable.
RectiCare Medicated Anorectal Wipes will be available at Walgreens and Rite Aid locations in June 2015, the company stated. Suggested retail price is $15.99.
Prestige Brands plans to boost support of Little Remedies
TARRYTOWN, N.Y. – Prestige Brands plans to pour more advertising and promotion dollars behind its pediatric cough/cold brand Little Remedies in the mass marketplace, outgoing Prestige Brands president and CEO Matthew Mannelly told analysts Thursday.
"Little Remedies continues to have very strong consumption gains across all segments and that's as a result of really an integrated program in terms of TV and digital marketing support," Mannelly said. "Little Remedies had a terrific year and we believe Little Remedies' differentiation really positions it well for long-term success. Little Remedies will be our lead pediatric brand moving forward because of that differentiation in the marketplace versus the competitive brands," he added. "And you can see the growth that new products has helped deliver for Little Remedies, as well as we've done quite a bit of digital advertising around Little Remedies for really the last five years."
The proof is in the results, Mannelly said. Consumption of Little Remedies across its brand portfolio is up 3.7% in the latest 26 weeks and nearly 8.5% in the latest 12 weeks, Mannelly noted, citing IRI multi-outlet and C-Store, for the periods ending March 22.
"We're quite pleased with the momentum of Little Remedies, we're also quite pleased in the competitive environment how Little Remedies' point of difference and differentiation versus the competition is resonating so strong with the consumers," Mannelly added.
Meanwhile, Prestige will position its PediaCare line against ethnic consumers and the dollar channel. "We're still going to support PediaCare," Mannelly said. "We have some exciting things with PediaCare in terms of target audiences and things we're doing with the Hispanic community with PediaCare. We also have some exciting things that we're looking at in terms of channels of distribution and better leveraging PediaCare in the dollar channel."
Presently, both brands are represented in all of the major accounts, Mannelly noted. Though there has been some distribution and facing losses for PediaCare this year, he confirmed.
Thursday also marked Mannelly's last quarterly conference call as Prestige president and CEO as he retires effective June 1. Succeeding Mannelly will be Ron Lombardi, presently CFO, who will assume the reigns as both president and CEO. The company has commenced a search for a new CFO.
“Ron and Matt have worked together for 10 years including five years at Prestige Brands. During their tenure at Prestige, they developed and successfully executed against a very specific strategy,” stated Gary Costley, lead director of the board of directors at Prestige, when the company made the announcement. “We will continue to execute against this proven strategy with Ron Lombardi as our chief executive officer.”
Lombardi joined Prestige in December 2010. His experience includes five years as CFO and COO for Cannondale Sports Group/Dorel Recreation and Leisure, a consumer sporting equipment and apparel company. He has also held leadership positions in finance at Gerber Scientific and at Emerson Electric, two large publicly traded companies.
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