Wednesday, October 31, 2007
Projected Growth in the Telehealth Market
Datamonitor, an independent market research firm based in London, recently issued a report entitled "Telehealth's Increasing Role in Healthcare." They predict that the home telehealth market will grow at a five-year compound annual growth rate of 56 percent, compared to a 10 percent growth in the clinical market. The firm expects the overall global telehealth market will exceed $8 billion by 2012, driven by the needs of an aging population, a shortage of providers, and by extending the technology to a broader array of medical conditions. Growth inhibitors noted were, the lack of reimbursement, and the mismatch between available technologies and the day to day realities and preferences of end users.