Telemedicine market to reach $3.6 billion in annual revenue, report says

The telemedicine device and services market will reach $3.6 billion in annual revenue within the next five years, according to a new report from research firm Pike & Fischer. The report, titled "Telemedicine and the Economic Stimulus: Broadband Opportunities in a Swelling Market," attributed the growth in the telemedicine market to advances in wireless broadband networks, smart phones and data compression technologies; the federal stimulus package; and the need to curb rising healthcare costs.