Double-Digit Growth Projected for US Telehealth Market

Demand for customized healthcare solutions, increased chronic illness among an aging population, and strained healthcare budgets will fuel the adoption of remote patient monitoring technology in the United States. These are the latest findings of iData Research (Burnaby, BC, Canada), an international market research and consulting group.

Market growth is expected to be further bolstered as awareness and implementation of standards for reimbursement and adoption of telehealth care management increase. The market, which is segmented into cardiac implantable electric device telehealth monitoring and disease conditions management telehealth monitoring, is projected to grow to over USD 5 billion by 2020. At that time telehealth for disease conditions management is projected to represent more than half of the total telehealth market.

The leader in the telehealth market is Medtronic (Minneapolis, MN, USA), which offers an extensive line of heart devices supported by the CareLink remote monitoring system. The system connects with a standard phone line to transmit data from the heart device through their network to a secured website. Bosch Healthcare (Palo alto, CA, USA) entered the market in 2014, introducing the Health Buddy System and T400 Telehealth System, which communicate historical patient data and also feature software with a focus on patient education.

Another major competitor is the Honeywell (Morristown, NJ, USA) HomMed division, with the Genesis Touch v2 remote patient monitoring device, which provides 3G, Wi-Fi, and 4G connectivity for the LifeStream Management Suite. Honeywell also offers tailored symptom-specific management with their Genesis DM system, a voice-enabled, disease-specific symptom management (DSSM) questions and tools tool that also integrates with the LifeStream Management Suite.

Other notable competitors include St. Jude Medical, with Merlin@home; Boston Scientific with the Latitude system; Philips Healthcare with the Motiva system; the Biotronik (Berlin, Germany) CardioMessenger; and the Sorin Group, with the PARADYM RF family of implantable cardiac defibrillators (ICDs) and cardiac resynchronization therapy devices (CRT-D).

“The goal of telehealth is to prevent hospital readmission, reduce in-office visits, better manage health of individuals with long term conditions and reduce costs for more remote and isolated health care providers,” said Kamran Zamanian, MD, founding partner, president, and CEO of iData Research.

Related Links:
Medtronic
Bosch Healthcare
Honeywell