About Connected Health
Connected health focuses on optimizing available healthcare resources to facilitate personalized, flexible options for client-physician interaction and self-care. It uses technology to deliver healthcare services remotely. Connected health programs leverage advanced technologies like connected devices using established cellular networks to offer solutions such as telehealth, home care, and disease and lifestyle management to improve healthcare for chronic conditions.
Technavio’s analysts forecast the global connected health market to grow at a CAGR of 26.54% during the period 2016-2020.
Covered in this report
The report covers the present scenario and the growth prospects of the global connected health market for 2016-2020. To calculate the market size, the report considers the revenue generated from the retail sales of connected health devices such as monitoring devices and diagnostic and treatment devices. The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Connected Health Market 2016-2020
Technavio recognizes the following companies as the key players in the global connected health market: Allscripts, Apple, athenahealth, Cerner, GE Healthcare, and Philips Healthcare.
Other Prominent Vendors in the market are: AeroScout (Stanley Healthcare Solutions), Abbott, Agfa-Gevaert, Alcatel-Lucent, Cardio Net, Epic Systems, Evolent Health, F. Hoffmann-La Roche, Google, Honeywell Life Care Solutions, HP, Huawei, Johnson & Johnson, Medtronic, Microsoft, Misfit, OMRON, Proteus Digital Health, Qualcomm, Skyscape, Voxiva, Warby Parker, WellDoc, and Zebra Technologies.
Commenting on the report, an analyst from Technavio’s team said: “The development of virtual nurses will be a key trend for market growth. Virtual nurses are a group of relational agents that act as a stand-in for front-line staff in hospitals. Their responsibility includes guiding patients on medication and other precautions necessary for their conditions. The virtual nurse created by Northeastern University, named Elizabeth, is being trialed at the Boston Medical Center. A San Francisco-based start-up will undertake its commercialization following the successful completion of trials. Virtual nurses will become an integral part of medical infrastructure in the future. Patients can interact with virtual nurses through on-screen options and contact real-life nurses in case of any doubts.”
According to the report, growth in older population is a one of the major drivers in market growth. Older people are more likely to develop age-related diseases or chronic diseases due to their low immunity levels. The top three causes of death among people aged 65 and over are cardiac arrest, cancer, and strokes. In the Americas, four out of five older people are diagnosed with at least one chronic condition. Over 40% of the older population in North America have high blood pressure, more than one in four have high cholesterol, 20% have some form of mental disorder, and 15% have diabetes.
Further, the report states that data security and patient privacy concerns is a challenge against the market growth. The connected healthcare concept relies on the extensive use of mobile technology and data sharing across various levels of the healthcare value chain. For example, m-health apps and patient engagement involve publishing user data on social media platforms. Vendors therefore need to anticipate some resistance from end-users in sharing personal information on public platforms. Moreover, the inflow of large volumes of data from multiple sources adds pressure on data storage, analysis, and communication. Patient data security has become a concern for vendors as patient data transferred from point-of-care devices to computers through telehealth technology is very sensitive.
Allscripts, Apple, athenahealth, Cerner, GE Healthcare, Philips Healthcare, AeroScout (Stanley Healthcare Solutions), Abbott, Agfa-Gevaert, Alcatel-Lucent, Cardio Net, Epic Systems, Evolent Health, F. Hoffmann-La Roche, Google, Honeywell Life Care Solutions, HP, Huawei, Johnson & Johnson, Medtronic, Microsoft, Misfit, OMRON, Proteus Digital Health, Qualcomm, Skyscape, Voxiva, Warby Parker, WellDoc, Zebra Technologies.
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