Outlook For the US Telehealth Market in 2023

Successful Telehealth Program
How To Identify Qualities Of A Successful Telehealth Program
February 12, 2019
Why Telehealth Applications Are Growing in Popularity
Why Telehealth Applications Are Growing in Popularity
May 3, 2019

Outlook For the US Telehealth Market in 2023

Telehealth Market in 2023

Telehealth Industry Outlook 

The forecast for the United States’ telehealth market by 2023 is looking very positive. Annual revenues are anticipated to reach more than 13 billion dollars by the year 2023. The industry is expected to grow by almost 30 percent in the period from 2017 to 2023. The development and refinement of telehealth care and requisite technology are significantly changing the face of American healthcare, especially in rural areas. Remote health services allow patients in all areas to access medical care that is affordable. Telemedicine or telehealth services involve a new model of healthcare that uses technology to bring doctors and patients together remotely via virtual office visits. Telemedicine technology also allows remote monitoring which reduces travel and hospital stays and improves overall patient care. 

Now the focus is on pairing telecommunications systems with equipment to allow more remote patient care. This will help lower healthcare costs through reduced overhead and results in better care. Telehealth networks partnering with monitors powered and transmitted wirelessly will be revolutionizing the US telehealth market by 2023. Devices that remotely monitor and report vital functions like blood pressure, blood sugar, heart rates, and breathing are rapidly improving healthcare. The marriage of the medical technology with the systems to report the results immediately to healthcare providers are changing medical care daily. As patients are able to self-monitor their conditions and work with their doctors their care is improved. As the technology improves more serious conditions will be detected earlier which will improve the US healthcare industry. 

Costs are reduced for patients as remote visits and monitoring are more cost-efficient for healthcare providers which can result in savings all around. Additionally, telehealth doctor’s appointments are easier on patients who can get care in the comfort of their own homes. This is especially welcome to patients who previously may have driven 4 hours roundtrip to see a doctor for 15 minutes. The new systems have fewer costs and overhead for providers which will continue to increase revenues to 2023. 

US Telemedicine Industry – We Have An App For That 

Mobile medical care applications or apps that work with wearable health monitors are steadily growing the US telemedicine market. The advancement of internet service coverage and use of smartphones is clearly driving telehealth industry growth. Wearable medical devices that facilitate health condition monitoring and wireless reporting are a key part of the market increase as we approach 2023. As apps and technology are improved and personalized more patients will want to purchase and use them. 

These devices allow health client to track their blood sugar, blood pressure, heart rates, and oxygen and breathing rates. Importantly, they can wirelessly report the findings in real time to healthcare providers resulting in more efficient care. This technology is interesting and engaging to patients and can be life-saving which is a very attractive combination. These devices will continue to revamp and revitalize the healthcare services industry and increase the market. Just look around at all the people wearing fitness devices today and you can see how these innovative devices will be transforming the telemedicine market. 

Smart Devices 

As the technology for home monitoring continues to grow so will the industry increase. Every device that allows for remote at home tracking rather than expensive office visits and even more expensive hospital stays adds to the strength of the telemedicine industry. The improvement in monitoring devices is fueling a healthy telehealth market. Devices that were once bulky and hard to use are now small and easy to work. Blood sugar levels and heart rates can be monitored by apps on smartphones. Engaging patients in tracking their conditions is revolutionizing care and leading to healthier patients and healthier telehealth profits too. Clients are increasingly able to know immediately if there is a problem rather than having to wait for an appointment to have the condition tested and then wait for results. This ability to closely track conditions leads to an increased desire to learn and monitor health even more closely and drives a market for more technology. The ability to have real-time results and confirmation with healthcare providers remotely is continuing to lead to new niches in telehealth such as call centers, remote telephone emergency centers, and remote monitoring services. Patients want to be connected and receive responses immediately and 24/7. 

Outlook To 2023

The telemedicine market outlook is extremely positive as technology and services will continue to grow to provide remote healthcare and monitoring. The growth in the industry is projected to be very strong and the telehealth market in 2023 and beyond will be very healthy.

Leave a Reply

Your email address will not be published. Required fields are marked *