Health Telemetry Market Size, COVID-19 Impact Analysis, Regional Outlook, Application Development Potential, Price Trends, Competitive Market Share & Forecast, 2021 – 2027
Report ID: GMI3273
Health Telemetry Market Size is projected to attain a sizable valuation from 2021 to 2027. The adoption is influenced by the global increase in the number of lifestyle-associated ailments such as cardiovascular diseases and diabetes. According to the WHO, cardiovascular disorders are a leading cause of death worldwide, while diabetes affects more than 422 million people. Due to these factors, public awareness towards advanced technologies such as medical telemetry is increasing. The growing risk of chronic diseases among people, particularly elderly individuals, is expanding the acceptance of the technology across both healthcare establishments and homecare settings.
The rise in cloud computing will provide significant momentum to the health telemetry market in the coming years. The use of cloud-based services is expanding the scope telemetry in remote diagnosis, treatment, and management of patients. Increasing awareness about the benefit of telemetry in healthcare among the general public and growing penetration in emerging economies will be pivotal factors augmenting the technology demand.
Health telemetry refers to the use of radio frequency (RF) communication to monitor patient vitals. The technology enables the parallel monitoring of the condition of a group of patients and helps track their locations in the medical facility. It has automatic algorithms to detect irregularities in vital signs and an option for patients to call the healthcare staff. Physicians can also view the history of physiological records as the system can be integrated with the hospital information system. Moreover, telemetry helps in the automatic detection of irregularities in the operation of telemedicine devices and the utility network.
The different types of telemetry devices used in healthcare include glucose level telemonitoring systems, blood pressure telemonitoring systems, COPD telemonitoring systems, and cardiac telemonitoring systems. Among these the health telemetry market for glucose level telemonitoring systems is estimated to grow at a robust CAGR over 2021-2027. The use of this technology is increasing owing to the rise in the number of individuals suffering from diabetes and associated problems. Glucose telemetry is used to wirelessly transmit glucose values from the CGM device to the nursing station in real time, enabling provides to monitor patients remotely.
In terms of the end-user, the health telemetry market size from homecare settings will increase significantly over the next few years. To enhance patient care delivery and improve clinical outcomes for conditions that require continuous surveillance, healthcare providers are increasing the use of remote patient monitoring solutions. This trend has gathered significant momentum since the outbreak of the coronavirus pandemic and is anticipated to continue in the future. The presence of a large geriatric population base will positively boost the technology usage in homecare settings owing to convenience and comfort.
Europe health telemetry market share is expected to expand substantially through 2027. The regional growth can be attributed to the well-established healthcare infrastructure in the region and the growing adoption of technological advanced products. Europe is home to massive elderly population base which should accelerate the acceptance of medical telemetry devices. Back in 2019, there were more than 90 million people aged 65 or more, according to the European Commission. These factors along with the presence of several leading medical device manufacturers in the region should bolster the regional outlook.
Philips Healthcare, GE Healthcare, Astro Med, Honeywell, ChronicWatch, Lindsay, Comarch, Shenzhen Mindray Bio-Medical Electronics, Nihon Kohden, and Spacelabs Medical are among the prominent names in the business.
Latest developments in health telemetry market:
- In December 2020, Philips had completed the acquisition of BioTelemetry for USD 2.8 billion. The deal would enable Philips to expand its cardiac care portfolio and establish it as a leader in patient care management in hospitals as well as homecare settings.
- In May 2021, New York’s Westfield Memorial Hospital had invested USD 400,000 to implement GE Healthcare’s APEX-Pro CH Telemetry System. The system monitors heart rate and pulse ox levels and detects heart irregularities and arrythmia. It is also compatible with patients who have pacemakers.
Opportunities & challenges amid COVID-19
The COVID-19 pandemic situation has augmented the use of medical telemetry significantly. According to the U.S. National Telemetry Association, there is a potential for more than 12 million people to develop heart problems related to COVID-19. NTA says that cardiac telemetry will be key to faster identification and treatment of cardiac complications and improving health outcomes. These trends will positively foster the market value over the coming years.
The health telemetry market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD from 2017 to 2027 for the following segments:
Market, By Type
- COPD telemonitoring systems
- Glucose level telemonitoring systems
- Blood pressure telemonitoring systems
- Cardiac & monitoring systems
Market, By Component
Market, By End-User
- Home care
- Long-term care centers
- Hospital care
The above information is provided for the following regions and countries:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
- Saudi Arabia
- South Africa
What Information does this report contain?
Customize this Report
Our Market Research Reports Include:
- Market snapshot
- Market Segmentation
- Value Chain Analysis
- Growth Dynamics
- Potential Market Opportunities
- Regulatory Overview
- Technology Evolution
- Innovation & Sustainability