The connected health M2M market in the United States is expected to grow at a CAGR of 28.72% through 2019. The market was valued at $1.02 billion in 2014 and will triple to $3.6 billion by 2019 as patient security and healthcare resource tracking become major focus areas for hospitals, clinics, and other healthcare service providers in the US.
Almost 50% of the adult population in the US is suffering from one or more chronic and mental disorders, which contributes to the country’s moderately high adult mortality rate (probability of dying between the age of 15 and 60) of 103 per 1,000 adults. This figure is right in between their North American neighbours Canada (63) and Mexico (132) and ranks 9th out of the G-20 countries. While the adult mortality rate can be improved, life expectancy in the United States hit record highs in 2012, rising to 78.8.
Life Expectancy Per US State
via chartsbin.com
Source: Technavio Research, Measure of America
This life expectancy increase can be partially be attributed towards hospitals in the US increasingly adopting connected M2M devices. People aging 60 and above suffer from chronic diseases such as high cholesterol, diabetes, and obesity. As a result, they are unable to visit clinics and hospitals frequently due to their old age. Connected health M2M is a practical solution as it provides remote monitoring facilities and gives the ability for doctors to monitor the health of patients from a remote location and prescribe medicines at a low cost.
The United States is the largest market in the world in terms of number of M2M connections but they are certainly not the only country adopting this technology at a large scale. Between 2015 and 2019, the amount of global M2M connections is expected to increase by nearly 700 million units.
Earlier it was difficult to integrate wearable devices with electronic medical software systems and proposed challenges for doctors and caregivers to benefit from the real-time health status information of their patients. With technological advances, a majority of these limitations have been overcome and data gathered in wearable devices can now be directly recorded inside EHR through a direct HIPAA-compliant protocol. These technological advancements combined with increased usage of mobile health applications on smartphones and application of analytics in the healthcare industry have revolutionized the market, and will be the major drivers of market growth during the forecast period.
