According to new research from Mountain View, Calif.-based Frost & Sullivan, the telehealth industry is in the middle of a transformation from a secret to becoming one of the most in-demand methods of treatment for patients. The research, Analysis of the North American Telehealth Industry, looks at the top five telehealth markets in North America and finds overall, the industry could generate more than $1.9 billion in revenue.
The top markets for telehealth in North America, in order, are as followed:
- Home healthcare and disease management monitoring
- Remote doctor and specialist services
- Personal emergency response systems (PERSs)
- Video diagnostic consultation
- Remote cardiac services
Naturally, the industry is not without its challenges. "The opportunities in telehealth applications are numerous, but so are the challenges, such as establishing high value propositions and sustainable business models," Frost & Sullivan analyst Zachary Bujnoch, said in a statement. "Many companies must struggle from the start due to a lack of the expertise and perspective necessary to take full advantage of the many different aspects involved in each of these markets."