Telemedicine Market Grew 237 Percent in Five Years, Report Finds | Healthcare Informatics Magazine | Health IT | Information Technology Skip to content Skip to navigation

Telemedicine Market Grew 237 Percent in Five Years, Report Finds

June 6, 2013
by Gabriel Perna
| Reprints

A new report from the New York City-based research firm, Kalorama Information indicates that the telemedicine market has grown 237 percent in five years, from 2007 to last year. In a report, Advanced Patient Monitoring Systems, Kalorama revealed that the market value went from $4.2 billion to $10 billion in that time period.

According to the researchers, the telemedicine market is still small, but it continues to grow due to a large amount of vendors and increasing awareness of its effectiveness. Overall, the aging population, increasing costs of healthcare, dwindling resources, advancing technologies, and it cost-effectiveness are reasons for its growth.

Referring to the telemedicine systems as patient monitors used outside of an acute healthcare facility, the researchers at Kalorama added that this market is more competitive than the one for systems in hospitals and vendors are fragmented with a fair number of privately held companies. Some of companies mentioned in the report are AMD, Philips, Second Opinion Telemedicine, and Bosch.

"The home healthcare and remote location health monitoring market is different from the hospital market, in large part because reimbursements are lower or are just beginning to take hold, and for some products are still nonexistent," Melissa Elder, Kalorama analyst and the author of the report, said in a statement. "Unit costs will go up as older units are replaced with wireless, handheld, and ambulatory devices."

Volume will be the key to this market, says Elder. She also notes that telemedicine is a global phenomenon and other countries, like Switzerland, have created a system where the technology is deeply integrated into healthcare.

Another report, from the Mountain View, Calif.-based Frost & Sullivan, had the telemedicine industry valued at $1.9 billion.



NewYork-Presbyterian, Walgreens Partner on Telemedicine Initiative

NewYork-Presbyterian and Walgreens are collaborating to bring expanded access to NewYork-Presbyterian’s healthcare through new telemedicine services, the two organizations announced this week.

ONC Releases Patient Demographic Data Quality Framework

The Office of the National Coordinator for Health IT (ONC) developed a framework to help health systems, large practices, health information exchanges and payers to improve their patient demographic data quality.

AMIA, Pew Urge Congress to Ensure ONC has Funding to Implement Cures Provisions

The Pew Charitable Trusts and the American Medical Informatics Association (AMIA) have sent a letter to congressional appropriators urging them to ensure that ONC has adequate funding to implement certain 21st Century Cures Act provisions.

Former Michigan Governor to Serve as Chair of DRIVE Health

Former Michigan Governor John Engler will serve as chair of the DRIVE Health Initiative, a campaign aimed at accelerating the U.S. health system's transition to value-based care.

NJ Medical Group Launches Statewide HIE, OneHealth New Jersey

The Medical Society of New Jersey (MSNJ) recently launched OneHealth New Jersey, a statewide health information exchange (HIE) that is now live.

Survey: 70% of Providers Using Off-Premises Computing for Some Applications

A survey conducted by KLAS Research found that 70 percent of healthcare organizations have moved at least some applications or IT infrastructure off-premises.