Sunday, February 21, 2010

Telehealth equipment market seen surging by more than 700% until 2012

The global telehealth equipment market will grow by more than 700 percent in the next four years, according to a report published by research company InMedica, which specializes in the medical devices industry.

Analyst Neha Khandelwal, forecasts that the market will grow to some $900 million by 2013 from only $123.3 million in 2009.

Remote patient monitoring is targeted at three main groups:
  • People who are ageing independently
  • Patients suffering from chronic diseases
  • Worried well people
The report, which is based on interviews with leading industry executives, indicates that the population of each group is set to increase raising the potential demand for remote patient monitoring.

InMedica said that the combined unit shipments of home-telehealth devices (digital blood-glucose meters, blood pressure monitors, weight scales, pulse oximeters and peak flow meters) were estimated to be around 155 thousand. By 2013, the unit shipments are expected to grow to over 1.6 million.

According to InMedica the following factors are driving the growth and introduction of telehealth in the healthcare industry:
  • Ageing population
  • The burden of chronic diseases
  • Increasing prevalence of chronic diseases
  • Increasing public expectations for standard of care
  • Spiraling costs of healthcare
  • Government initiatives to control rising healthcare costs
  • Success of large-scale telehealth trials
  • High-profile working group
  • Progress in regions other than the US

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