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New Report on U.S. and European Telehealth Market

Reviewed

Feb 20 2015

Research and Markets has announced the addition of the "U.S. and European Telehealth Market" report to their offering.

Telehealth, also referred to as remote monitoring or telemedicine, consists of two parts: synchronous (real-time) and asynchronous (store-and-forward). It is the process of transferring medical information via telephone, Internet, or networks for use in examinations, diagnosis and procedures.

The goal of telehealth is to prevent hospital readmission, reduce in-office visits, and better manage health of individuals with long term conditions. As a result, it is important to consider the long term benefits to patients and cost savings to fully understand the value of this market.

In today's medical industry, telehealth is more advanced; however, it still has great potential for advancement in the near future. A typical telemedicine network consists of devices for measurement (either continuous or real time devices), transmission, data processing (receiving), manual entry, networking and presentation of data. Additionally, telemedicine has expanded its wireless capabilities from the use of Ethernet, digital subscriber lines (DSL), cable and plain old telephone service (POTS) lines to include Wi-Fi, cell phone, WiMAX, Bluetooth and Infrared Data Association (IRDA) capabilities.

The main drivers of the telemedicine market include the environmental factor, staggering oil prices, ever-increasing globalization, hospital staff shortages and the shift towards more accountable health care. Telemedicine helps to eliminate transportation costs, thus saving money and contributing to the preservation of the environment, and helps to contribute to heightened communication between physicians in different cities and even different countries. It also alleviates the desperate need for nurses and other hospital staff required to perform traditional monitoring and diagnosis procedures. However, the market's advancement exhibits challenges that need to be addressed. These challenges include the following:

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