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(Health-NewsWire.Net, April 16, 2020 ) Market Overview
The Global Telemonitoring Systems Market is expected to grow at a CAGR of 13% during the forecasting period (2019-2026).
Healthcare telemonitoring systems connect with two sites, home and healthcare providers through a network infrastructure.
On the home site, different medical devices are attested to get the real-time patient data. Semantic technologies may be employed to understand the data acquired from the sensors before sharing it with healthcare provider.
On the healthcare provider site, various data mining techniques are used to treat raw patient data and provide the required medication through a different medium it includes (SMS, call, email, etc.).
By using in-home, telemonitoring healthcare providers can effectively manage patients health and preventing complications which may lead to rehospitalizations.
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Market Drivers
The global increase in chronic illness, decrease in physicians and aging diabetic population are the significant factors having a positive impact on global telemonitoring systems market and is also expected to remain high over the forecast period.
According to the International Diabetes Federation in 2017, 1/3rd of diabetes population are aged above 60 years.
According to the Center for Disease Control and Prevention in 2017 stated that more than 100million U.S adults are living with diabetes or pre-diabetes.
According to the Global Burden Of Disease study in 2016, COPD has a global prevalence of 251 million cases, corresponds to 5% of deaths globally, and more than 90% of deaths occur in low and middle-income countries.
According to a study conducted by the Association of American Medical Colleges in 2017 found out that there would be physician shortfall by 2030 between 40,800 and 104,900.
Segmentation Analysis
The global telemonitoring systems market is segmented on application type includes chronic obstructive pulmonary disease (COPD) telemonitoring systems, vital sign telemonitoring systems, cardiac telemonitoring systems, ECG telemonitoring systems, physical health telemonitoring systems, diabetes telemonitoring and others.
Cardiac telemonitoring systems dominate the global telemonitoring systems market due to an increase in cardiovascular disease prevalence globally, and it is expected to remain dominant during the forecast period.
According to European Heart Network in 2017, Cardiovascular disease leads to 3.9 million deaths annually in Europe and 1.8 million deaths in European Union which accounts to 45% of all deaths in Europe and 37% all deaths in EU.
Geographical Analysis
North America dominates the global telemonitoring systems market due to product innovations, technological advancements, healthcare infrastructure development and government funds in this region.
In 2018, Office of Advancement Of Telehealth (OAT) U.S. funds 6million for twenty programs to promote and improve telehealth services in rural areas.
According to the American Hospital Association in 2017 stated that 65% of U.S. hospitals connect with patients and consulting practitioners at a distance through the use of video and other technology.
Competitive Trends
New product launches and mergers between significant healthcare organizations in telemonitoring systems is driving the global telemonitoring systems market.
In January 2018, BodyTel a telehealth company launched GlucoTelTM a sensor for telemedical blood glucose monitoring and diabetes management.
In November 2017, Medtronic launched a new telehealth solution in support of U.S Department Of Veterans Affair National Contract.
In November 2017, Claris Healthcare launched a wearable sensor Claris reflex an orthopedic medical device that allows patients and doctors to monitor recovery after total knee replacement.
In August 2016, Emperra GmbH e-health company based in Germany launched ESYSTA BT pen to expand its diabetes management system ESYSTA.
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