The market for telemedicine devices and services will generate nearly $3.6 billion
in annual revenue within the next five years, market research firm Pike & Fischer, a sister company to Washington G-2 Reports, projects
in a new report. Covering the telemedicine from a unique perspective, this report takes a closer look at what is currently taking place in this rapidly changing industry.
Driving that spending is the economic stimulus law that President Obama signed
earlier this year. That initiative includes $20 billion for health information
technology, with a specific focus on electronic medical records and telemedicine.
P&F forecasts that at least 25 percent of the $20 billion in stimulus funds
earmarked for health information technology will be applied toward broadband-enabled
telemedicine services such as remote patient monitoring and mobile access to
medical records, and consumer applications such as interactive fitness guides
and mobile health-related videos.
“These estimates will climb if the Obama administration’s proposed
health-care reform plan passes,” says Tim Deal, Senior Analyst in P&F’s
Broadband Advisory Services group. “The proposed health-care reform includes
an investment of $50 billion over five years to promote health information technology.”
The need to control costs, along with the development and expansion of faster
wireless broadband networks, smartphones, and data compression solutions, will
drive the market growth, P&F says. Wireless applications, devices, and services
solutions will account for more than 70 percent of the total market spend within
five years, the Silver Spring, Md.-based market research provider projects in
the report, Telemedicine and the Economic Stimulus: Broadband Opportunities
in a Swelling Market.
This report is published by Pike & Fischer, part of BNA Subsidiaries, who
offer a host of legal and business products covering the telecommunications
industry.
Click here to review this report's Table of Contents and Executive Summary.
