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Revenues from Digital Home Health Services to Top
$2.1 Billion in 2010
Fastest Growth Areas are Wellness Monitoring and e-Health Services
Revenue from digital-home health services in the U.S. will quadruple
over the next five years to exceed $2.1 billion in 2010, according to
Delivering
Quality Healthcare to the Digital Home, a new report from Parks
Associates. The two fastest growing areas, wellness monitoring services
and e-health services, will both achieve a compound annual growth rate (CAGR)
of over 50% over the next five years, while geriatric care monitoring
services will achieve a CAGR of 22% and acute care monitoring services a
CAGR of 35% over the same time period.
“Due to the aging population in the U.S. and the gradual change in the
healthcare service model from clinical intervention to preventive care,
home-based healthcare services demonstrate strong long-term growth
potential,” said
Harry Wang,
research analyst at Parks Associates.
Delivering
Quality Healthcare to the Digital Home is less bullish on the
industry’s near-term growth potential, however, which is inhibited by
several factors, including a lack of documentation on the clinical
efficacy and financial benefits of home care services. As a result, payors
in both private and government sectors are less likely now and in the next
two years to proactively reimburse care providers for these types of
services.
“This industry will start to grow rapidly around 2008-2010, when enough
clinical data and cost-saving evidence exist to influence payors’
attitudes towards home-based care services,”
Wang said.
“Meanwhile, services that are easily comprehensible to consumers and
subject to less stringent clinical standards, such as e-health services
and wellness monitoring, will see faster adoption by consumers, service
providers, and payors.”
Delivering
Quality Healthcare to the Digital Home is a comprehensive industry
report analyzing the emerging technologies and their applications in the
healthcare industry. Using data from Parks Associates’ recent survey
Bundled
Services & Residential Gateways: 2005, it focuses on products
and services that help consumers manage their chronic disease states at
home through advanced communication tools, self-diagnostic devices, and
home-monitoring appliances. The report also examines incentives,
regulatory and reimbursement issues, and the drivers and barriers for the
implementation of home-based care services. Finally, the report profiles
emerging players and offers a future roadmap for this industry.
For additional information on
Delivering
Quality Healthcare to the Digital Home or
Bundled
Services & Residential Gateways: 2005, visit
http://www.parksassociates.com
or contact 972-490-1113 or
sales@parksassociates.com.
About Parks Associates: Parks Associates is an
internationally recognized market research and consulting company specializing
in emerging consumer technology products and services. Founded in 1986, Parks
Associates creates research capital for companies ranging from Fortune 500 to
small start-ups through market reports, primary studies, consumer research,
custom research, workshops, executive conferences, and annual service
subscriptions.
The company's expertise includes new media, digital
entertainment and gaming, home networks, Internet and television services,
digital health, mobile applications and services, consumer electronics, and home
control systems and security.
Each year, Parks Associates hosts executive thought
leadership conferences CONNECTIONS™, in
partnership with the Consumer Electronics Association (CEA®), and CONNECTIONS™ Europe. In addition, Parks
Associates produces the online publication Industry Insights in
conjunction with the CONNECTIONS™ Conference series.
http://www.parksassociates.com |
http://www.connectionsconference.com |
http://www.connectionseurope.com
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http://www.connectionsindustryinsights.com
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