SANTA CLARA, Calif., April 19, 2017 /PRNewswire/ -- Telehealth will become a mainstream health option in the United States (U.S.) within five to seven years. While remote patient monitoring and personal emergency response systems (PERS) solutions have been available for many years, the telehealth market is still in an early stage of development. Rapid advances in communication technologies, coupled with regulatory pressure to improve outcomes, reduce readmissions, and lower costs, are now re-energizing telehealth market penetration.
"Sub-segments, such as telebehavioral health, teledermatology and other areas of specialization will emerge as sectors of opportunity," said Digital Health Principal Analyst Victor Camlek. "Self-care management utilizing medical-grade activity tracking will lead to an increased portfolio of telehealth alternatives that support better outcomes at lower costs. Further, the flow of patient data from biometric monitoring can be leveraged to develop and refine advanced analytics formulas and create new predictive models."
Growth Opportunities in the US Telehealth Market, Forecast to 2021, a new analysis from Frost & Sullivan's Connected Health Growth Partnership Service program, defines 18 growth opportunities in the US telehealth market. It ranks segments in terms of potential growth and impact on stakeholders over the next few years. This analysis also examines strategic imperatives gathered from a mix of large and smaller industry participants.
To know more about Frost & Sullivan's research and to sign up for our Growth Strategy Dialogue, a complimentary one-hour interactive session with Frost & Sullivan's thought leaders, please click here.
"The U.S. telehealth market is not without challenges; the most notable one being the need for highly visible peer-reviewed proof of concept based on improved outcomes across a large number of patients," noted Camlek. "Telehealth practitioners will also benefit by developing a mix of value propositions that provide measurable benefits to all stakeholders, including patients, caregivers, providers, and payers."
Innovators accelerating growth and shaping the future of the U.S. telehealth market include:
- Medtronic and Philips, which are leading progress in remote patient monitoring (RPM)
- Teladoc and American Well, which are increasing the visibility of virtual visits
- Qualcomm Life, which is ensuring that biometric data derived from various telehealth services is securely transported to the cloud, where it is transformed into actionable insights and emergency interventions
- Smaller companies, such as Zipnosis, Tactio and Tyto Care, are offering new communications platforms, creative applications, and diagnostic tools to help patients and providers adapt to the transition to telehealth
"Robust opportunity will be associated with the mHealth segment," added Camlek. "In addition to stimulating service through a large array of devices, and thousands of health-related apps, mHealth offers many enabling capabilities across all segments and sub-segments, including connectivity and secure data transport."
About Frost & Sullivan
Frost & Sullivan, the Growth Partnership Company, works in collaboration with clients to leverage visionary innovation that addresses the global challenges and related growth opportunities that will make or break today's market participants. For more than 50 years, we have been developing growth strategies for the global 1000, emerging businesses, the public sector and the investment community.
Growth Opportunities in the US Telehealth Market, Forecast to 2021
Corporate Communications – North America
P: +54 11 4778 3540
F: +54 11 4777 0071
To view the original version on PR Newswire, visit:http://www.prnewswire.com/news-releases/telehealth-vendors-expand-mhealth-portfolio-to-conquer-new-growth-opportunities-300441790.html
SOURCE Frost & Sullivan