Virtual visits and remote patient monitoring will be the key drivers of the emerging telehealth sector, which is set to attract investors with growth projections of 29.4 per cent a year for the next five years.
That is the prediction of a new report from analysts Frost & Sullivan, which predicts adoption of advanced technologies such as artificial intelligence (AI), virtual reality, blockchain, the internet of medical things (IoMT), wearables, and cloud computing will disrupt the telehealth market, with 5G accelerating these disruptive technologies.
The investor report, which analyses the trends that will shape the delivery of healthcare through the coming decade, says mHealth – defined as ‘use of mobile and wireless technologies to support the achievement of health objectives’, and personal emergency response systems (PERS) will also become significantly more established.
The report also predicts the standardisation of data collected through remote patient devices and mobile apps that record patient-reported outcomes, and improved doctor-patient communication, information exchange, and integration with electronic medical records (EMRs).
Chandni Mathur, healthcare & life sciences senior industry analyst at Frost & Sullivan, says: “Rising demand for consumer-centric services and tools in Europe’s healthcare system is leading to the development of new business models. Virtual visits will lead the overall telehealth market, followed by remote patient monitoring. Further, mHealth and personal emergency response systems (PERS) will also contribute significantly to the market. “Telehealth equipment makers, service providers, and technology enablers have an uphill task catering to the pandemic-driven sudden demand, which will require business model revision across the telehealth ecosystem.”