A report, by independent market analyst Datamonitor (New York), predicts the homecare telehealth market will grow at a five-year compound annual growth rate (CAGR) of 56 percent compared to 9.9 percent in the clinical market, and that the overall global telehealth market will exceed $8 billion by 2012.
Telehealth is the use of a digital network to provide automated monitoring and treatment delivery to a patient who is in a different physical location than the medical expert providing treatment.
Key findings of the report, entitled "Telehealth's Increasing Role in Healthcare", include:
Â· The road to widespread telehealth adoption has a number of speed bumps
Â· The telehealth market is increasing rapidly despite its current limited focus
Â· Telehealth solutions must meet the needs of a diverse set of end users