Report: Telehealth market $6B by 2020

By Chris Gullo
01:54 pm
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Telehealth_2011

According to research firm InMedica, unit shipments of telehealth equipment worldwide were worth $163.3 million in 2010, with the vast majority in North and South America ($122.9 million). By 2015, InMedica projects the total will be $990 million, and by 2020, $6.28 billion, with North and South America contributing 36 percent of the total.

According to the report, increasing use of home-monitoring medical devices such as blood glucose meters, pulse oximeters, weight scales and peak flow meters will spur economic growth of the sector. In 2010, the biggest categories of peripherals were blood pressure monitors, weight scales, and blood glucose meters, which will remain constant in 2015 and 2020. "In 2010, the combined unit shipments of home-use digital blood glucose meters, blood pressure monitors, weight scales, pulse oximeters, and peak flow meters used in telehealth applications were estimated to be around 134,000," the report stated. "By 2015, the unit shipments are forecast to grow to over 950,000."

Wireless devices will increase in total percentage, with wired telehealth devices decreasing, according to the firm.

Other interesting numbers include the shipments of telehealth "gateways" totalling 67,000 in 2010, to an expected 561,000 in 2015 and over 3.5 million units by 2020.

Public healthcare systems that aim to reduce hospital visits and stay lengths will also be a critical factor. The study claims the U.S. leads countries in telehealth markets, citing the Veteran’s Health Administration’s home Telehealth service, which aims to have 92,000 patients enrolled on Telehealth services by 2012. Large-scale trials have also occurred in Europe, "most notably in the UK in 2010 and 2011, where PCTs have initiated some projects involving more than 2,000 patients."

“What is apparent is the convergence of many different industries in this space, including Telehealth companies, device manufacturers, healthcare agencies, service providers and telecommunication companies to name but a few," stated Diane Wilkinson, Research Manager at InMedica, in a press release. "With such interest from a wide range of investors and the need to minimize healthcare expenditure globally while managing the chronic disease epidemic, there is obvious motivation for the full acceptance of Telehealth from governments, physicians and patients alike.”

Read the full press release below and the InformationWeek article here.

PRESS RELEASE -- The world market for Telehealth is set to exceed $1 billion by 2016 and could jump to $6 billion in 2020, according to a new report, “The World Market for Telehealth – A Quantitative Market Assessment – 2011 Edition,” by InMedica, the medical electronics market research group within IMS Research, the leading independent provider of market research and consultancy to the global electronics industry.

“Many public healthcare systems now have targets to reduce both the number of hospital visits and the length of stay in hospital,” says Diane Wilkinson, Research Manager at InMedica. “This has led to a growing trend for healthcare to be managed outside the traditional hospital environment, and as a result, there is a growing trend for patients to be monitored in their home environment using Telehealth technologies once their treatment is complete.”

Home-monitoring is becoming increasingly relevant in the treatment of chronic diseases. For example, home monitoring of blood-pressure allows sufferers of hypertension to manage their condition better and monitor their progress. Home-use medical devices in Teleheatlh services, such as blood glucose meters, pulse oximeters, weight scales and peak flow meters are being deployed to monitor four main diseases – congestive heart failure (CHF), chronic obstructive pulmonary disease (COPD), diabetes and hypertension.

“By far the most established market for telehealth at present is the US, as evidenced by The Veteran’s Health Administration’s extensive home Telehealth service, which aims to have 92,000 patients enrolled on Telehealth services by 2012” Wilkinson adds. “There has also been some large-scale trial activity in Europe, most notably in the UK in 2010 and 2011, where PCTs have initiated some projects involving more than 2,000 patients”.

“What is apparent is the convergence of many different industries in this space, including Telehealth companies, device manufacturers, healthcare agencies, service providers and telecommunication companies to name but a few. With such interest from a wide range of investors and the need to minimize healthcare expenditure globally while managing the chronic disease epidemic, there is obvious motivation for the full acceptance of Telehealth from governments, physicians and patients alike.”

About InMedica :

InMedica is the brand name of IMS Research’s medical research group. We publish high quality, in-depth market research on Clinical Care Devices, Consumer Medical Devices, Medical Imaging & Healthcare IT and Telehealth. We offer our clients complete coverage of the global market, with dedicated reports on high growth regions, such as China, Eastern Europe and the Middle East. To find out more, contact InMedica: enquiries@in-medica.com; T: +44 (0) 1933 402255; www.in-medica.com

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