Global Telemonitoring Systems Market 2017-2021

Global telemonitoring systems market

The telemonitoring systems industry analysis report compiled by market research analysts at Technavio predict that the market will grow steadily at a CAGR of around 13% by 2021. This market research analysis identifies the increased use of remote patient monitoring through telehome healthcare as one of the primary growth factors for the telemonitoring systems market. Due to limited resources, monitoring a large number of patients in a large hospital becomes a difficult and tedious process. The smart healthcare products help improve the treatment and monitoring processes by saving time and reducing healthcare costs as these products aid physicians to monitor patients from remote places and provide proper treatment. These devices help in self-assessment, provide uninterrupted and long-term monitoring and provide useful insights into the disease condition to patients and physicians to ensure proper treatment.

According to the telemonitoring systems market forecast report, the healthcare industry is rapidly adopting smart and connected medical devices for real-time monitoring of patients to diagnose cardiovascular disease (CVD). These devices are connected to the internet through wireless network information systems of superspecialty hospitals to track and analyze real-time patient health data such as heart rate, glucose level, and blood pressure. Devices equipped with sensors enable real-time monitoring from remote locations and the transition of records during emergencies. This will increase the adoption of smart and connected medical devices which will be one of the key telemonitoring systems market trends behind the growth of this industry.

Competitive landscape and key vendors

The market is highly competitive and fragmented and has new entrants who offer cardiology information systems solutions, as per the telemonitoring systems industry report. Vendors are constantly introducing smart medical devices and are investing heavily towards the development of next generation healthcare IT. Vendors compete based on the quality of telemonitoring systems and solutions, services, and advanced features and their performance is impacted by factors such as intense competition, rapid technological advances, and technological obsolescence.

The leading vendors in the market are -

• Abbott 
• General Electric
• McKesson                          
• Philips

The other prominent vendors in the market are Aerotel Medical Systems, Advanced TeleHealth Solutions, Allscripts, BioTelemetry, BIOTRONIK, Drägerwerk, Dream Systems, eVisit Telemedicine Solution, Honeywell Life Care Solutions, Huawei Technologies, InTouch Technologies, LifeWatch, and Medtronic.

The telemonitoring systems market segmentation by type and industry analysis

• Hardware
• Software
• IT Services
• Telecom

The vendors in the smart healthcare provide the electronic devices and components required for the installation of cardiology information systems and smart connected medical devices. This market study estimates that the hardware segment will account for the major shares of this market throughout the forecast period.

The telemonitoring systems market segmentation by geography and industry analysis

• Americas
• APAC
• EMEA

Americas will be major revenue contributor to the telemonitoring systems market throughout the forecast period. This will mainly attribute to the aging population and the growing medical cases related to pediatric heart diseases which lead to the introduction of innovative solutions for the treatment of CVD.

Key questions answered in the report include

• What will the telemonitoring systems market size and the growth rate be in 2021?
• What are the key factors driving the global telemonitoring systems market?
• What are the key market trends impacting the growth of the global telemonitoring systems market?
• What are the challenges to the telemonitoring systems market growth?
• Who are the key vendors in the global telemonitoring systems market?
• What are the telemonitoring systems market opportunities and threats faced by the vendors?
• Trending factors influencing the market shares of the Americas, APAC, and EMEA.
• What are the key outcomes of the five forces analysis of the global telemonitoring systems market?

Technavio also offers customization on reports based on specific client requirement.