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Tele-Home Care Market in Western Europe and Canada to Generate $225M in 2011
Five-Year Annualized Growth Rate to Exceed 26%
With the blessing of government payers in Western Europe and Canada, the market for remote home health monitoring is expected to generate $225 million revenue in 2011, up from less than $70 million in 2006, according to Parks Associates’ upcoming report Digital Health in Western Europe and Canada.
The report finds that tele-home care is at the core of healthcare transformation efforts being implemented by the federal and local governments in major Western European nations and in Canada. Ongoing government funding of pilot programs and investments in telecare and telehealth projects, and reimbursements from private insurers will constitute the major sources of revenue for the tele-home care market going forward.
“Regulatory authorities believe remote home health monitoring solutions provide an opportunity to make care delivery more efficient without reducing the overall quality of care,” said Harry Wang, senior analyst and author of the report. “However, such programs face significant challenges.” Wang explains that although some pilot programs have produced promising results, two key conditions have yet to be fulfilled. First, governments have so far failed to establish permanent reimbursement mechanisms for these solutions, and second, public and private constituents have not reached consensus on the most feasible business models. “The expansion of the tele-home care market is predicated on making consistent progress on these two fronts over the next five years,” Wang said.
Digital Health in Western Europe and Canada is the latest industry report available through Parks Associates’ Digital Health Research Service. This report highlights major digital health initiatives in key Western European countries and Canada. Specifically, the report offers:
· insight and analysis of remote health monitoring
· solutions to how digital health solutions fit into each country’s health care system;
· the drivers and inhibitors of tele-home care market adoption;
· profiles of leading digital health vendors; and,
· evaluation of market positions and strategies.
For information on this research, visit http://www.digitalhealthnews.com or
About Parks Associates Digital Health Research:
Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Parks Associates envisions pervasive adoption of digital technology within the global health care system and a drastic transformation of how healthcare and wellness aids are delivered to consumers in the future.
Our research clarifies the opportunities and challenges for technology vendors, healthcare providers, and companies considering entering this changing market.
Parks Associates’ expertise includes new media, digital entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, consumer electronics, and home control systems and security.
http://www.parksassociates.com | http://www.digitalhealthnews.com
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