The home telehealth and remote patient monitoring market is currently close to a $5.6 billion level and will continue to grow at close to 70 percent for at least the next three to five years, according to a report published by Insight and Intelligence, a market research firm.
The healthcare provider market is represented by a number of small- to medium-size companies with average annual revenue of approximately $6.6 million, according to the report.
However, these companies’ combined average revenue growth is approaching 72 percent, the report said. Consumer companies tend to be larger with combined average annual revenue of approximately $121.3 million. Insight and Intelligence said their combined annual revenue growth is even more explosive than that of healthcare provider companies, with a combined average range of 118.5 percent to 193.5 percent.
Insight and Intelligence interviewed industry leaders, conducted surveys, utilized government and other agency databases, as well as reviews of published literature to provide an examination at the home telehealth and remote patient monitoring market segment of the telemedicine industry.
The 130-page report will be published here June 21.