Mobile carriers to open new market opportunities in healthcare with wireless technologies
The U.S. market for wireless home-based healthcare applications and services will grow at a five-year compound annual growth rate of over 80% and become a $4.4 billion industry in 2013, according to Wireless Healthcare: Analysis & Forecasts.
The report from international research firm Parks Associates predicts the push for healthcare reform from the Obama Administration will ultimately boost adoption of wireless technologies in healthcare.
The Federal Government is committed to promoting technology that improves healthcare efficiency, evident in the stimulus funds already allocated to electronic medical records (EMR) adoption, and this focus will open new long-term opportunities for wireless providers. Parks Associates finds wireless technologies can benefit home care in areas such as chronic care management, medical diagnostic device monitoring, wellness and fitness applications, medication management, and senior independent living solutions.
“Wireless is an important crossover point for the healthcare sector and high-tech industry,” said Harry Wang, Director, Health & Mobile Product Research, Parks Associates. “Device and service connectivity is the model for future home care applications, and mobile networks will link a growing number of monitoring products to healthcare providers.”
The report suggests that mobile carriers will leverage their network resources to target vertical markets like healthcare through both wholesale and retail partnerships. Deals such as recent agreements from Verizon Wireless with LifeWatch and Qualcomm will become more commonplace as this market moves into wider availability. “In an increasingly saturated mobile voice and data environment, the ability to target industry verticals such as healthcare provides mobile carriers with an attractive opportunity to improve user acquisition and ARPU,” Wang said.
About Parks Associates: Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions. The company's expertise includes new media, digital entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, consumer electronics, energy management, and home control systems and security.
Each year, Parks Associates hosts executive conferences CONNECTIONS™, with support from the Consumer Electronics Association (CEA)®; CONNECTIONS™ Europe; and Smart Energy Summit. http://www.parksassociates.com | http://www.connectionsconference.com | http://www.connectionseurope.com | http://www.connectionsindustryinsights.com
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