Chronic disease, cost of care expected to drive use of home-health technology

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Chronic disease, cost of care expected to drive use of home-health technology

By Michael Johnsen - 04/20/2015


BOULDER, Colo. — Consumers utilizing home-health technologies will increase from 14.3 million worldwide in 2014 to 78.5 million by 2020, according to a new report from Tractica released Monday. The market intelligence firm anticipates that medical monitoring, diagnosis, and treatment will be the largest application market during that timeframe, and will drive the deployment of a wide variety of connected health devices and software applications. Other key segments of this market are remote consultations, eldercare and health-and-wellness.


 


Home-health technologies are emerging as a distinct segment within the larger mobile and digital health market. The ability to remotely monitor patients with chronic conditions, utilize technology for improved eldercare, and conduct virtual physician consultations (eVisits) is being seen as a way to improve the efficiency and effectiveness of the overall healthcare system, as well as to improve patient outcomes. Meanwhile, home health devices and applications are leveraging the ubiquity of residential broadband networking and smartphones to help consumers manage health and wellness on an ongoing basis.


 


“Key factors driving interest in home healthcare technologies include rising healthcare costs, aging populations and a rise in the number of people living with chronic diseases,” said principal analyst Charul Vyas. “However, significant challenges remain for the industry to solve, including regulatory issues, data security and privacy and technology interoperability and integration issues.”