Worldwide markets are poised to achieve significant growth as the telemedicine systems merge with the smart phone systems of engagement to provide a way to improve clinical care delivery to patients with chronic disease, decreasing hospitalizations and visits to the emergency room. There is a convergence of telemedicine and m-health as the patients become more responsible for their own care delivery and their own health.
According to the study telemedicine dedicated device and software markets at $843 million in 2012 are anticipated to reach $2.9 billion by 2019. M-Health markets related to telemedicine at $1.4 billion are anticipated to reach $1.5 trillion by 2019 due to the use of 7 billion smart phones and half that many connected tablet devices all over the world.
Clinical telemedicine services converge with m-health systems of engagement to lower cost of care and improve quality of care. Tele-medicine and M-health market driving forces relate to an overall trend toward ordinary people taking more responsibility for their own health. This trend has been more prevalent for women in the past 100 years than for men because women used to die very young and they had to learn how to keep themselves healthy. Women have been able to reverse this trend of dying young and to live longer than men in the past 40 years, illustrating that paying attention to health is important.
The cost of tele-medicine for the US veterans administration is $1,600 per patient per annum. This is substantially less than other NIC programs and nursing home care which can easily run to $100,000 per annum. VHA's experience is that an enterprise-wide home tele-medicine implementation is an appropriate and cost-effective way of managing chronic care patients in both urban and rural settings.
According to analyst of this report, “Differential diagnostic tools support differential telemedical treatment. The decision process take into account clinical findings form the home monitoring devices and from symptoms verbally communicated in a clinical services implementation.”
Analyst added, “Care delivery is enhanced by having clinicians be responsive to changes in patient condition that we know will lead to further patient deterioration if not treated immediately. A core part of responsible healthcare delivery is to use technology for healthcare reform. There is a focus on how to deliver care differently using telemedicine. No matter who pays for it, the use of telemedicine is anticipated to reduce the overall costs of healthcare delivery. Innovation is key to achieving improvements. For more information visit : Telemedicine and M-Health Convergence: Market Shares, Strategies, and Forecasts, Worldwide, 2013 to 2019
For long-term success, telehealth solutions require sustainable financing models. Investments in telehealth technologies foster sustainability by enabling productivity and efficiency gains and other improvements that can more than justify investment costs.
Both tele-medicine and m-health contribute to healthcare delivery in the home. M-health will surely be delivered over the smart phone. Tele-medicine is evolving toward smart phone device delivery as well.
Once FDA approved software runs on a tablet, people with an existing unit can download software and be equipped with a way to interact with the clinical service that performs monitoring. Long term, the services will be a very attractive part of telemonitoring.
Spanning over 879 pages, 299 tables and figures, this report provides comprehensive information on the key trends affecting these segments, and key analytical content on the market dynamics.
You can also visit our IT and e-health section: IT and e-health Market Research Reports
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