Several reports lay out the expansion possibilities of patient monitoring, telehealth and cloud technology through 2020.
- There are various ways that the mobile healthcare market is expanding. More technology is hitting the market that caters to the patients and medical professionals that embrace the marketplace and regulations and incentive programs are being created that are framed around the use of smartphones, tablets, patient data tracking and telemedicine.
Recently, several reports were released that examined different parts of the mobile health landscape. All of them point to expansions in adoption.
Patient monitoring through 2020
A new report about the patient monitoring global market examined the use of technology to measure a patient’s physiological parameters such as heart rate, respiratory rate, blood pressure and core temperatures among other things.
The report found that the patient monitoring device market is expected to reach approximately $24.35 billion by 2020. That will grow at a compounded annual growth rate (CAGR) of 5.3 percent. North America will command the largest share of the marketplace, with $9.7 billion.
“Patient monitoring plays a fundamental role in emergency and operating rooms, intensive and critical care units by reducing onset of complications and risks in patient,” the report reads. “It is proven to be very useful in respiratory therapy, recovery rooms, out-patient care, transport, radiology, cath labs, gastroenterology departments, ambulatory, home, and sleep screening applications.”
Global telehealth through 2019
Telehealth is a form of communication between patients and doctors that allows medical staff to remain in contact with individuals, monitor various symptoms and provide a consultation or advice when needed. This technology is more commonly used with critical care patients of those in remote areas that have trouble making it into a doctor’s office. This helps cut down on readmissions.
A new report from TechNavio found that the global telehealth market will grow at a CAGR of 18.88 percent from 2014 through 2019. This number may seem high, but with the way that video conferencing and remote monitoring technology is maturing and the positive results that they achieve, it seems right on the money.
Healthcare cloud computing through 2020
A new report published by Persistence Market Research examined the use of cloud computing technology in the healthcare market. The cloud market is valued at $4.2 billion in 2014. It is projected to reach $12.65 billion by 2020. That is an CAGR of 20.1 percent. North America will have the largest sector of the market with a
“Globally, the healthcare cloud computing market is witnessing significant growth due to increased government healthcare IT spending and advanced features of cloud computing services,” the report reads. “In addition, rising demand for better healthcare facilities, increasing in popularity of wireless and cloud technologies are driving the healthcare cloud computing market.”
There will be some challenges to adoption. Most noticeably is the high cost of implementation, a lack of security and privacy of patient’s information and interoperability issues.