BY DAN COOK
JAN 5, 2015
The demand for telehealth services continues to increase and, according to a survey just released, that demand is driving two segments within the medical device market: cardiac and chronic disease monitoring devices.
This news comes from iData Research, which follows trends within the medical device industry. If the patterns identified by iData hold during the next half decade, the U.S. patient monitoring market will be a $5 billion one by 2020. If that occurs, iData reports, “telehealth for disease conditions management is projected to represent more than half of the total telehealth market.”
There are three primary drivers behind this projected explosive growth:
- Demand for customized health care solutions;
- Increased chronic illness amongst the aging population;
- Strained health care budgets.
Other factors in the market growth include evolving reimbursement arrangements that will make equipment purchase more attractive to providers, and a general trend toward larger budgets for telehealth products and services.
The report cited two marketplace leader that could be expected to benefit from the growth surge:
Medtronic, the leading U.S. telehealth market, and Bosch Healthcare, which, iData said, entered the market in 2013.
Among the devices now competing for space in the telehealth marketplace: multi-parameter vital sign monitors, wireless ambulatory telemetry monitoring, telehealth monitoring, intracranial pressure devices, electromyography (EMG) devices, electroencephalography (EEG) monitors, cerebral oximetry devices, fetal and neonatal monitors, pulse oximetry devices, cardiac output monitoring devices and blood pressure monitors.