The recent implementation of the U.S. Patient Protection and Affordable Care Act (PPACA) has intensified the healthcare industry’s focus on telemedicine. Indeed, the use of remote monitoring systems to coordinate care over time and across settings will be key to meeting the unprecedented demand resulting from the new healthcare law. Ongoing PPACA rollout, advances in telemedicine-related technologies, and rising consumer demand will drive significant growth in this market over the near to midterm.
BCC Research provides an in-depth analysis of the global telehome and telemedicine markets through its report Global Markets for Telemedicine Technologies. According to the report, this market was valued at almost $13.8 billion in 2012 and is expected to reach to $16.1 billion in 2013. BCC Research projects the market to grow to $35.1 billion by 2018, and register a five-year compound annual growth rate (CAGR) of 16.9% from 2013 to 2018.
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Source: Susan Odell