Friday, February 4, 2011

Report: Revenues of US digital health sector to surpass $5.7 billion by 2015

Sales of digital health technology solutions and services in the US will exceed $5.7 billion in 2015 compared to only $1.7 billion in 2010, according to a report issued by research company Parks Associates.

The income growth is forecasted to be fueled by chronic-care monitoring solutions, senior aging-in-place services, and connected wellness and fitness apps and programs. Perks said in its Delivering Quality Care to the Digital Home: 2010 Update that the projected compound annual growth rate (CAGR) for the industry for the next five years will be 27%.

The authors noted that mobile broadband will be a key growth driver as many emerging health devices and services rely on high-speed connectivity to track vital signs or enable interactive features.

"The digital health industry has many subsectors, and near-term growth will be uneven across these segments," said Harry Wang, director of Parks Associates' health research team. "Adoption of chronic-care monitoring will grow slowly, and medication management and senior fall-detection programs will expand at above-average rates. The real engines of growth in this industry will be mobile care solutions and tracking applications."

Wang noted that political impasse over the new healthcare law could delay investment in new technologies and create funding challenges for new business models. "To move forward, this industry needs smart entrepreneurs and visionary industry leaders and a regulatory and reimbursement system amenable to innovative, effective, and cost-saving technology advances."

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