mHealth markets related to telemedicine is currently valued at $1.4 billion and is anticipated to reach $1.5 trillion by 2019 due to the use of 7 billion smart phones, according to a new report by Research Moz. The report also found that telemedicine dedicated device and software markets valued at $843 million in 2012 is anticipated to reach $2.9 billion by 2019.
The report, “Telemedicine and M-Health Market Convergence Shares, Strategy, and Forecasts, Worldwide, 2013 to 2019” is 879 pages long and features 299 tables and figures highlighting how 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 growing convergence of telemedicine and mhealth as the patients become more responsible for their own care delivery and health. Also, clinical telemedicine services are converging with mhealth systems for patient engagement to lower cost of care and improve quality of care.
Key forces driving the telehealth and mhealth convergence trend include:
- Rising healthcare costs due to baby boomer population, chronic diseases, etc.
- More than 7 billion smart phones globally and half that many connected tablet devices all over the world
- Consumer tablet computers becoming ubiquitous and inexpensive
- Telemedicine is becoming a fee for services much as a cell phone.
- Increasing role of telemedicine and mhealth in home healthcare delivery
- Availability of home telemonitoring programs that utilize effective monitors support patient education and timely clinician intervention based on real vital signs data gathered on a daily basis.
- Rising EHR adoption rates due to meaningful use incentives
- Government and local authorities recognizing the potential of telehealth technology as a tool for delivering health and social care services.
For more information on the report, visit http://www.researchmoz.us/telemedicine-and-m-health-convergence-market-shares-strategies-and-forecasts-worldwide-2013-to-2019-report.html
Featured image credit: Jon_Tucker via cc
