Report: 78.5M People Worldwide To Use Home Health Tech by 2020
April 21, 2015 in News
The global home health technology market is poised to more than quadruple in size over the next five years, according to a report from market intelligence firm Tractica, Clinical Innovation Technology reports.
According to the report, about 14.3 million individuals worldwide in 2014 were using home health technologies. That number is projected to grow to 78.5 million by 2020.
Between 2014 and 2020, the largest sectors of the home health technology market are expected to be:
- Medical monitoring; and
- Treatment (Walsh, Clinical Innovation Technology, 4/20).
Meanwhile, other key parts of the market will include:
- Health and wellness; and
- Remote consultations
According to the report, the increase in home health technology adoption largely will be driven by:
- An aging population;
- More individuals with chronic diseases; and
- Rising health care costs.
While the market is projected to grow significantly, the report cited several barriers related to home health technology, including:
- Data security and privacy;
- Interoperability and technology integration; and
- Regulatory issues (Pai, MobiHealthNews, 4/20).