Wireless Home Healthcare Market Soars
Federal stimulus dollars and the healthcare reform agenda of the Obama Administration will help spur adoption of wireless technologies in healthcare.
The U.S. market for wireless home-based healthcare applications and services will grow at a five-year cumulative annual growth rate of more than 180 percent to become a $4.4 billion industry by 2013. So says a new report from research firm Parks Associates, which predicts the push for healthcare reform by the Obama Administration will ultimately boost adoption of such wireless technologies.
The administration is also committed to promoting technology that improves healthcare efficiency, as evidenced by the stimulus dollars already allocated to electronic medical records, and this focus will open new long-term opportunities for wireless providers.
According to the research firm, wireless technologies can be used effectively for chronic care management, medical diagnostic device monitoring, wellness and fitness applications, medication management, and senior independent living solutions.
“Wireless is an important crossover point for the healthcare sector and high-tech industry,” says Harry Wang, director of health and mobile product research at Parks Associates. “Device and service connectivity is the model for future home care applications, and mobile networks will link a growing number of monitoring products to healthcare providers.”