Home Health & Hospice

New report predicts 78.5 million consumers worldwide will use home health technologies by 2020

Homecare Insider, April 27, 2015

Home health technologies are on the rise, according to a new report from Tractica, a technology research and consulting firm based in Boulder, Colorado, that projects 78.5 million consumers worldwide will use home health technologies by 2020—more than five times today’s 14.3 million users.
 
“Home health technologies are emerging as a distinct segment within the larger mobile and digital health market,” the firm states in its summary of the report.  
 
Tractica attributes this trend to the ability of technology adoption to fuel efficiency and effectiveness of healthcare systems; improve patient outcomes; and curtail rising healthcare costs. These drivers are particularly evident in the United States, where shifting demographics (e.g., growing populations of elders and people living with chronic conditions) demand better condition tracking, tailored services, and empowerment of postacute care patients to exert greater control over their own healthcare.
 
In turn, these needs will position home health monitoring services and devices (e.g., those that facilitate the remote monitoring of patients with chronic conditions) as increasingly valuable resources, Tractica states.  
 
Other burgeoning technologies in the sphere include those intended to improve eldercare and facilitate virtual physician consultations (eVisits), as well as ones that leverage residential broadband networking and smartphones to promote ongoing medical monitoring and management by providers and patients alike.
 
The Tractica report covers market trends; technology issues; and global forecasts surrounding home health devices, applications, and users from 2014 through 2020.
 
To read the full summary of the report, click here.