Tuesday, August 24, 2010

Caregivers and their concerns for chronically ill family members drive early market for home health monitoring services

Groundbreaking consumer survey reveals important consumer insights on personal health technologies

Almost 20% of U.S. consumers who care for an ill family member are willing to pay out-of-pocket for a home health monitoring service, almost double the number who would purchase the service for themselves, according to Parks Associates.

The international research firm’s Uptake of Personal Health Tools & Services found consumer motivations for adopting home health monitoring include concerns they will be unable to accurately measure and track their loved one’s vital signs. They also fear they will be unable to detect warning signs of health decline for their loved ones, and they see home monitoring as a good solution. Several wireless chronic care management solutions are already available, including MedApps, Ideal Life, WellDoc, and Generation One, which tap into this early market.

Parks Associates Home Health Monitoring Solutions

The survey also found over seventy percent of people caring or planning to care for a fragile senior said their primary concern was the person in their care would take an accidental fall. Lifeline, Halo Monitoring, Wellcore, and iShoe are some of the fall-detection solutions already available.

“There is a self-pay market for home health monitoring, but interest is stronger among caregivers than patients,” said Harry Wang, director, Parks Associates’ health research team. “Companies in this market segment should target caregivers and emphasize how these technologies can quell their anxieties and help overcome the immense challenges of caring for a loved one who is sick or infirm.”

Uptake of Personal Health Tools & Services surveyed U.S. Internet households on their adoption and impressions of various personal health technologies and services, including but not limited to home health monitoring, fall detection, location tracking, and medication management. For information, visit http://www.parksassociates.com or contact 972-490-1113 or sales@parksassociates.com.

About Parks Associates: Parks Associates is an internationally recognized market research and consulting company specializing in emerging consumer technology products and services. Founded in 1986, Parks Associates creates research capital for companies ranging from Fortune 500 to small start-ups through market reports, primary studies, consumer research, custom research, workshops, executive conferences, and annual service subscriptions.

The company's expertise includes the Internet of Things (IoT), digital media and platforms, entertainment and gaming, home networks, Internet and television services, digital health, mobile applications and services, support services, consumer apps, advanced advertising, consumer electronics, energy management, and home control systems and security.

Each year, Parks Associates hosts industry webcasts, the CONNECTIONS™ Conference Series, Smart Energy Summit: Engaging the Consumer, and Connected Health Summit: Engaging Consumers.

http://www.parksassociates.com

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