Service and hardware revenues will contribute $1.8 billion to the U.S. eldercare industry by 2013

Digital health technologies designed to monitor and care for the elderly population will bring in U.S. revenues in excess of $1.8 billion by 2013.

Technological advances will drive this growth in service and hardware revenues, according to Parks Associates’ Taking Care of the Elderly through Digital Technologies. Connected medical, activity, and environmental sensors and fitness measurement devices will bring in more than twice the dollar amount of the low-tech personal emergency response system (PERS) sector in 2013. These new technologies will monitor seniors’ vital signs, track their locations and activities, and measure their fitness progress.

Taking Care of the Elderly through Digital Technologies is Parks Associates’ latest research report on the digital health industry. This report analyzes how technology can be used to monitor and manage the elderly population in their homes and in long-term care facilities. The report also examines applicable service sectors and potential payment models.

Harry Wang, Director of Health & Mobile Product Research, Parks Associates, is speaking in the session “Smart Home-Smart Patient: Telehealth and the New Digital Home” at the 2008 ATA Mid-Year Meeting, September 15, 2008, at 9:45 a.m.