Friday, August 14, 2009

How will President Obama's Health Reform impact wireless health care market?

President Obama's healthcare appeal is expected to lead to many changes in the US healthcare market. One interesting question is, which healthcare services will benefit from it most?

According to a recent report published by international research firm Parks Associates one of the main beneficiaries will be the market for wireless home-based healthcare applications and services, which is expected to reach some $4.4 billion by 2013.

The rapid rise is supported by the healthcare reform of the Obama Administration, which is expected to encourage the adoption of wireless technologies in healthcare and the promotion of technologies that improve healthcare efficiency.

The report, titled Wireless Healthcare: Analysis & Forecasts, indicates that the market will grow at a five-year cumulative annual growth rate of over 80%.

The study indicated that wireless technologies can benefit home care in areas such as chronic care management, medical diagnostic device monitoring, wellness and fitness applications, medication management, and senior independent living solutions.

Another report, published by Parks Associates in February 2009, showed that providers of personal health technologies such as health monitoring devices and personal health records (PHR) can generate over $460 million in revenue in 2013.

The research firm said that changes in the healthcare landscape, combined with health reform initiatives, are catalysts for accelerated technology spending over the next five years.