Consumer-driven strategies to shape growth of remote health monitoring market

By eGov Innovation Editors | Jan 28, 2012

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New analysis from Frost & Sullivan showed that the home healthcare and disease management for the remote monitoring market is estimated to reach $294.9 million in 2015.

While revenues in the past were almost entirely derived from traditional telemedicine systems, the research firm sees the future growth in this market to be driven by consumer-focused products.

"The proximity of this market to the patient/consumer makes it a bridge between consumer friendly products, such as smart phones or tablets, and healthcare services," said Frost & Sullivan Senior Industry Analyst Zachary Bujnoch. "Also, over the past five years and going forward, this market has begun to form two tiers: traditional 'telemedicine' and more consumer-focused monitoring services."

"We have also seen success through simple and smart ideas," he added

Growth in the market has retained a double digit growth rate for the last 10 years, but the market has never reached its' billion dollar potential. Various factors obstruct growth, such as the difficulty with scalability. The bottom line is that many current business models only have limited potential in the current market environment.

"Over buildup and misrepresentation have made this market confusing and complicated," said Bujnoch. "However, significant revenue and outcomes remain for those who can sift through fact and fiction."