Periodic Reporting for period 1 - HYGGii (The therapist in your pocket - AI assisted ecosystem for enabling a patient-centric approach to mental health)
Periodo di rendicontazione: 2019-08-01 al 2019-11-30
Nearly 84 million EU citizens had a mental disorder in 2016. Mental disorders are one of the most significant public health challenges in Europe, as they are the leading cause of disability and the third leading cause of overall disease burden (measured as disability-adjusted life years). According to the OCDE, we need more effective and people-centred health systems, asking patients more systematically whether they are better, or worse, following different health care interventions.
HYGGii is a software platform to provide early detection, 1st-assistance, personalised support and orientation to individuals suffering from mental disorders. HYGGii´s services are provided autonomously, based on proprietary AI algorithms, specifically designed to acquire knowledge from multi-language (text/audio) inputs as well as from smartphone-embedded and wearable sensors, to then provide assistance through different channels.
A feasibility study is needed to confirm that there is a real market opportunity for the product whilst the conditions for the commercialisation are beneficial.
HYGGii is a software platform to provide early detection, 1st-assistance, personalised support and orientation to individuals suffering from mental disorders. HYGGii´s services are provided autonomously, based on proprietary AI algorithms, specifically designed to acquire knowledge from multi-language (text/audio) inputs as well as from smartphone-embedded and wearable sensors, to then provide assistance through different channels.
A feasibility study is needed to confirm that there is a real market opportunity for the product whilst the conditions for the commercialisation are beneficial.
Creation of a work plan of technical activities needed to complete the innovation, divided in three main areas: extended AI scope anamneses, development of digital therapeutic solutions, and development of the professional connection module.
According to the market analysis, the global Behavioural/Mental Health Software market was estimated to reach a market value of €1.9 billion in 2019 and it is expected to reach €5.5 billion by 2026, growing at an estimated CAGR of 13.6% over the forecast period. By countries, the best market conditions for digital health solutions are in the USA, the UK and Germany.
The freedom-to-operate demonstrates that HYGGii is not-infringing patents or pending patent applications of others. IfMH has decided to keep the confidentiality of the new innovative features by protecting its software through copyright.
According to the market analysis, the global Behavioural/Mental Health Software market was estimated to reach a market value of €1.9 billion in 2019 and it is expected to reach €5.5 billion by 2026, growing at an estimated CAGR of 13.6% over the forecast period. By countries, the best market conditions for digital health solutions are in the USA, the UK and Germany.
The freedom-to-operate demonstrates that HYGGii is not-infringing patents or pending patent applications of others. IfMH has decided to keep the confidentiality of the new innovative features by protecting its software through copyright.
HYGGii is expected to generate €75.6M of revenues during the period 2022-2026, and a total net profit of €10.8M. Moreover, the company will create 10 new direct jobs during the project.
Driven by the initial success of the commercialization of IfMH´s on-site digital from its premises in Zürich, HYGGii's disruptive approach is the key step to 1) guarantee the scalability of the therapeutic methodology, also 2) enabling v-IfMH ecosystem as a strategic context to further increase the company size, international presence and job generation.
Driven by the initial success of the commercialization of IfMH´s on-site digital from its premises in Zürich, HYGGii's disruptive approach is the key step to 1) guarantee the scalability of the therapeutic methodology, also 2) enabling v-IfMH ecosystem as a strategic context to further increase the company size, international presence and job generation.