Telemedicine, Mobile Health Markets Expected to Explode
Telemedicine push-to-talk (PTT) dedicated device and software markets, which were at $214 million in 2012, are anticipated to reach $4.4 billion by 2019, according to a report from WinterGreen Research.
The report also projected mobile health (mHealth) markets related to telemedicine, which currently stand at $1.4 billion, would reach $1.5 trillion by 2019 due to the leveraging of 8.5 billion smartphones and 5 billion connected tablet devices all over the world.
"Telemedicine push-to-talk [PTT] markets are evolving as smartphone devices find more uses during patient transport. During emergency transport, sensors can provide monitoring that has not previously been available," the report noted. "Differential diagnostic tools support differential telemedical treatment. The decision process takes into account clinical findings from the home monitoring devices and from symptoms verbally communicated in a clinical-services implementation."
The study indicated there is a convergence of telemedicine and mHealth as the patient uses push-to-talk devices in telemonitoring situations where the sensor data is transmitted to a facility, encouraging the patient to become more responsible for their own care delivery and their own health.
In addition, PTT devices are often more rugged than ordinary smartphones and are used in transport situations inside the hospital and in ambulances.
At the same time, the report noted telemedicine delivered on proprietary devices is becoming obsolete. Kyocera is the market leader in push-to-talk phones for telemedicine.
Meanwhile, the Honeywell and Samsung strategic alliance represents the smartphone model that works, with telemedicine market analysis indicating that the price points are way below device costs and that companies are seeking to gain market share by working with clients.
The convergence of telemedicine and PTT devices is also a driving force that relates to the overall trend toward clinical reimbursement, addressing a mobile health initiative for chronic conditions.
This study predicted this trend is likely to become prevalent as people learn how to keep themselves healthier. Healthy behaviors such as exercise, good diet and stress management have the potential to reverse aging on a molecular level and partly restore the vitality of a person's cells.