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Home / Press Releases / Medical (InMedica) / InMedica predicts shake-up in the telehealth market
Press Releases
InMedica predicts shake-up in the telehealth market
Date: 08 October 2010
Wellingborough, UK – 8th October 2010 – A new report from InMedica (www.in-medica.com) on the world market for telehealth, estimates that with its dominant position in the market and a large installed base, Honeywell Hommed was the leading supplier for telehealth with a 15.4% market share in 2009 worldwide. However, with the 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 the 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.
The competition to win the contracts to supply healthcare providers with the equipment for telehealth is increasing. More and more contracts involve high volumes as the number of patients enrolled onto telehealth programs increases year-on-year. There are some very well established suppliers of home-use medical devices that are likely to leverage their positions to capitalise on the increased interest in home monitoring. For example, Viterion TeleHealthCare LLC is a joint telehealth venture between Bayer Healthcare and Panasonic. However, manufacturers of professional healthcare equipment may also choose to enter the telehealth market and provide complete solutions. This could include companies like Siemens Healthcare, GE Healthcare and Philips Healthcare. In August 2010, GE Healthcare and Intel announced a joint venture focussed on telehealth and independent living. According to Market Research Analyst Neha Khandelwal at InMedica, “the combination of GE’s healthcare expertise and Intel’s experience in technology development could be a formidable force in the telehealth market going forward”.
Apart from the suppliers of health hubs and peripheral devices, there is a diverse range of other companies that operate in the telehealth ecosystem including the 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 providers are also in quite a unique position in that they will almost inevitably play a major role in telehealth. Telecoms companies are working with healthcare providers to enable the transmission of patient readings to monitoring stations and subsequent feedback to the patients. Telecoms companies therefore stand to be responsible for the management of a huge amount of secure data traffic if professional telehealth reaches its potential. How telecoms providers choose to manage and bill the level of data they will have to deal with, once professional telehealth services become widespread, is unclear, but certainly telecoms companies will welcome the business. 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 they have 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 and more companies from outside the healthcare market are likely to get involved. The competitive landscape will look quite different in two or three years” continued Neha Khandelwal.
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