Kalorama projects 8% annual growth for telemedicine market

ROCKVILLE, Md. — Market researcher Kalorama Information recently shared in a New York Times report that the telemedicine market holds significant growth potenital.

"Telemedicine is a $9.2 billion business," stated Kalorama publisher Bruce Carlson in the story. "The field is growing at 8% annually, nearly three times as fast as other medical devices."

The Times article, "Heart and Asthma Monitors? There's an App for That," used information from Kalorama Information's Remote Patient Monitoring Markets  Remote Patient Monitoring & Telemedicine Market.

Kalorama Information noted that the market for telemonitoring is growing as awareness of the benefits of the technology increases.  And while it's still difficult to get payors to reimburse for every use of the technology, providers themselves are often paying for the equipment as it benefits their operations.

"It's in everyone's interest to cut hospital days," Carlson said.  "And with nurse staff shortages in most U.S. regional markets, these technologies make sense for the provider even where unreimbursed.  That being said, companies will want to obtain positive studies demonstrating benefits to improve their clout with payors."

The article covered a company named Eko Devices, one of many telehealth companies that has seen investor interest.  The company, according to the article,  raised nearly $5 million and sold 6,000 digital stethoscopes, used in 700 hospitals. They are marketing the Duo, a digital stethoscope for home use, which could change how heart patients are monitored, the entrepreneurs say. It is scheduled to become available by prescription in the fall.  The product, the article said, combines electrocardiogram, or E.K.G., readings and heart sounds into a device that allows patients to monitor their health at home and send data to their physicians.

 

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