The stars are aligning for explosive growth in telemedicine and investors are clamoring for opportunities to participate. Venture capitalists are flocking towards mobile healthcare startups and growth-stage companies and telemedicine ventures in particular. The recent Teledoc IPO, which raised over $157 million for the Texas-based company, lets patients contact their doctors any time through phone, online and mobile, reflects public markets’ enthusiasm for this sector. Two weeks after the IPO, Teledoc was trading above $30, significantly above its $19 IPO price.
What is it about 2015 that accounts for this surge of confidence in telemedicine? The forecasted growth of home health technologies is skyrocketing. According to Tractica, a marketing intelligence firm, the number of consumers using home health technologies globally is expected to grow from 14.3 million in 2014 to 78.5 million by 2020. ReportsnReports.com predicts that the US market alone is expected to grow from $240 million to $1.9 billion by 2019. Medical monitoring, diagnosis and treatment are expected to be the largest application market during this timeframe, while remote consultations, eldercare and health and wellness will also be key segments. [Read more…]