Scope of the Study
Due to increasing unhealthier and busy lifestyles across the globe need for auto patient monitoring has been increased across the globe. In addition to this, increasing instances of cardiovascular diseases have led consumers to adopt telemonitoring systems. These systems enable utilization of telecommunications technology for remote monitoring, continues patient care & remote assistance. This minimizes the overall cost required for patient treatments and routine monitoring as it has neglected the cost required in administrating patients inside the office premise. Moreover, continues technological advancements in developing telemonitoring systems will further improve the demand for the same over the forecasted period.
The market study is being classified by Type (COPD Telemonitoring System, Glucose Level Telemonitoring System, Blood Pressure Telemonitoring System, Cardiac & Monitoring Systems and Others), by Application (Home Care, Long-term Care Centers and Hospice Care) and major geographies with country level break-up. According to AMA, the Global Telemonitoring System market is expected to see growth rate of 10.121% and may see market size of USD3137.84 Million by 2024.
Abbott Laboratories (United States), Allscripts Healthcare Solutions Inc. (United States), AMD Global Telemedicine, Inc. (United States), Cisco Systems, Inc. (United States), Care Innovations LLC (United States), General Electric Company (United States), Honeywell Life Care Solutions (United States), InTouch Technologies, Inc. (United States), Koninklijke Philips N.V. (Netherlands), Medtronic Plc (Ireland) and McKesson Corporation (United States) are some of the key players profiled in the study. Additionally, the Players which are also part of the research are Medvivo Group Ltd. (United Kingdom), Nihon Kohden Corporation (Japan), Siemens Healthineers AG (Germany), St. Jude Medical, Inc. (United States), Tunstall Healthcare Group Ltd (United Kingdom) and Vidyo, Inc. (United States).
The Players having a strong hold in the market are Abbott, General Electric, McKesson, Philips and Aerotel. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Telemonitoring System market throughout the predicted period.
AdvanceMarketAnalytics has segmented the market of Global Telemonitoring System market by Type, Application and Region.
On the basis of geography, the market of Telemonitoring System has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North Amercia region held largest market share in the year 2018. Europe on the other hand stood as second largest market due to the presence of key companies into the region and high technological advancement. If we see Market by Mode of Delivery, the sub-segment i.e. Web-based will boost the Telemonitoring System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Hardware will boost the Telemonitoring System market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
- Growing Need for Observing the Symptoms, Conditions and Other Medical Parameters of the Patient
- Increasing Adoption of Continues Patient Care and Remote Monitoring
- Continues Technological Advancement in Developing Healthcare Monitoring Devices
- Rising Volatility and Imbalance in Heart Rate and Blood Pressure
- Comparatively Highly Priced Telemonitoring Systems will Stagnate the Demand
- Unable to Update the Data without the Patientís Willingness
- Increasing Adoption of Information and Visualization Technology
- Enables Patients to gain Effective and Timely Medical Aid to Avoid Patients
- Skilled Workforce and Literate Consumer Base is a Necessity
- Lack of Awareness from Underdeveloped Regions
Market Leaders and their expansionary development strategies
On February 26th, 2019, a not-for-profit healthcare organization, Blessing Health System has expanded and extended its commitment to Allscripts by creating one single integrated clinical and financial patient record. With this expansion, the and organization's portfolio by the inclusion of Sunrise suite of solutions, including Sunrise Ambulatory, Sunrise Financial Manager, Sunrise Surgical Care, Sunrise Wound Care, Sunrise Mobility and Smart Pump Integration to support the organization's strategic clinical and financial initiatives.
On May 6th, 2019, Abbott has launched a new and smarter heart monitor for better arrhythmia detection which will be profitable to people at risk for irregular heartbeats. Now with CE Mark in Europe and U.S. Food and Drug Administration (FDA) clearance, the next-generation Confirm Rx insertable cardiac monitor (ICM), a paperclip-sized implantable device, combines smartphone connectivity and continuous, remote monitoring to track unpredictable heart rhythm problems for a fast and accurate diagnosis.
Key Target AudienceTelemonitoring System Manufacturers, Telemonitoring System Distributors and Traders, Healthcare Equipment Industry Associations, Government Agencies, Research and Development Institutes, Non-Profit Healthcare Organisations and Others
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