Home health technologies, which include remote patient monitoring and virtual physician consultations, are expected to grow more than five times over by 2020. Tractica predicts consumers using these technologies will surge from 14.3 million in 2014 to 78.5 million by 2020.
This means the $3.3 billion home health technology market will skyrocket to $13.7 billion by 2020 at a compound annual growth rate of 26.6 percent, according to the report.
North America holds the greatest share of the home health technology market, and will continue to do so, based on Tractica’s predictions. By 2020, North America’s home health technology market will be worth nearly $8 billion, according to the report.
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