InMedica Predicts Shake-up in the Telehealth Market
BUSINESS WIRE – Wellingborough, England (October 13, 2010) – A new report from InMedica on the world market for telehealth estimates that, with a large installed base, Honeywell Hommed was the leading supplier for telehealth with a 15.4% market share in 2009 worldwide. However, with newer players like Philips Healthcare, Bosch Healthcare and Cardiocom penetrating the market in the last few years, Honeywell Hommed has been gradually losing share. In fact, being the single largest supplier for Veterans Association (VA) care coordination program, Bosch Healthcare was a close second with a 14.9% market share and is quickly closing this small gap.
“With the market for telehealth predicted to grow at a CAGR of over 55% in the next five years, more companies from outside the healthcare market are likely to get involved. The competitive landscape will look quite different in two or three years.”
Apart from the suppliers of health hubs and peripheral devices, there is a diverse range of other companies operating in the telehealth ecosystem including telecom providers, software application developers and companies enabling interfaces between patient records and monitoring devices. In a recent development Microsoft joined the Continua Health Alliance with a view to make its HealthVault service for managing consumer healthcare data a platform for Continua certified devices.
Telecoms companies are working with healthcare providers to enable the transmission of patient readings to monitoring stations and subsequent feedback to the patients. The consumer side of telehealth may be particularly lucrative for telecoms providers looking to add additional value to their existing offerings. For example, mobile phone networks could offer online data management services to people who want to store and analyse readings taken using a home-use medical device that can link with their mobile phone.
“With the market for telehealth predicted to grow at a CAGR of over 55% in the next five years, more companies from outside the healthcare market are likely to get involved. The competitive landscape will look quite different in two or three years,” said Neha Khandelwal, Research Analyst.
The full press release pertaining to this new study, which contains substantial tabulated findings, can be found on our website.
About InMedica (a division of IMS Research)
InMedica is the medical research division of IMS Research, a specialist supplier of market research on a range of global electronics markets. The company’s headquarters are in Wellingborough, UK with offices in Austin, Texas; Shanghai, China; and Taipei, Taiwan. InMedica publishes research on markets such as ultrasound, x-ray equipment, critical care and consumer medical devices.
Neha Khandelwal, +44 1933 402255