A recent report from Parks Associates indicates that providers of personal health technologies such as health monitoring devices and personal health records (PHR) can generate over $460 million in revenue in 2013 by targeting the disease management (DM) industry.

Parks Associates is a market research and consulting company specializing in emerging consumer technology products and services. Their latest report titled “Disease Management Industry and High-Tech Adoption” says that the catalysts for accelerated technology spending over the next five years are changes in the healthcare landscape, Obama administration’s stimulus package and reform initiatives. The Disease Management Industry and High-Tech Adoption highlights challenges and opportunities and discusses technology’s role in driving innovations in new care management models.

Harry Wang, director of Health and Mobile Product Research, Parks Associates noted that people are increasingly demanding transformation of their healthcare system. If the DM sector doesn’t act quickly it may become obsolete due to the competing care management models. According to Wang, technology vendors that are familiar with the unique characteristics of the DM business and can show the clear and immediate benefits of their solution within this context have more chances to win these contracts.

From the article, "Report: Personal Health Technology Spending to Exceed in 2013" by Anuradha Shukla

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