Mobile health hubs will boost telehealth market, says IHS
The introduction of mobile health hubs is boosting the telehealth market, lowering the cost of telehealth while increasing the overall value proposition, according to IHS Technology.
IHS also expects that wearable technology will increasingly be used in telehealth applications.
The overall telehealth market is forecast by IHS to grow by more than a factor of 10 from 2013 to 2018 as medical providers increasingly use remote communications and monitoring technology to reduce costs and improve care.
Revenues generated by telehealth devices and services, both mobile and fixed, is forecast by IHS to swell to $4.5 billion in 2018, from $440.6 million in 2013. At the same time, the number of patients using telehealth services is expected to rise to 7 million in 2018, from less than 350,000 in 2013.
"Amid rising expenses, an aging population and the increasing prevalence of chronic diseases, the healthcare industry must change the way it operates. Telehealth represents an attractive solution to these challenges, increasing the quality of care while reducing overall healthcare expenditures," says Roeen Roashan, medical devices and digital health analyst at IHS Technology.
While telehealth is currently used mainly for post-acute patients, medical providers are now looking to monitor the health of entire populations, a process called population health management. This trend is expected to expand further the total available market for telehealth, explains Roashan.
- check out the IHS release
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