The global market for telehealth services will pass $1 billion by 2016, a new business report has claimed.
In the 2011 edition of its report The World Market for Telehealth, medical electronics market research group InMedica forecasts that the telehealth market could reach $6 billion by 2020.
The report highlights the growing use of home monitoring systems to monitor vital signs, improving the control of long-term conditions such as diabetes, heart failure and COPD.
The leading market for telehealth systems is the US, the report notes, but there have been some large-scale trials in Europe – most notably in the UK, where more than 2,000 patients have received telehealth services.
“Many public healthcare systems now have targets to reduce both the number of hospital visits and the length of stay in hospital,” said Diane Wilkinson, Research Manager at InMedica. “This has led to a growing trend for healthcare to be managed outside the traditional hospital environment, and as a result, there is a growing trend for patients to be monitored in their home environment using telehealth technologies.
“What is apparent is the convergence of many different industries in this space, including telehealth companies, device manufacturers, healthcare agencies, service providers and telecommunication companies.”
The World Market for Telehealth – a Quantitative Market Assessment, 2011 Edition” provides an overview of the global telehealth market, analysing the sector’s business models, technologies, peripheral devices, major suppliers and market drivers/inhibitors.
InMedica is the medical research group of IMS Research, a leading supplier of market research and consultancy to the electronics industry.