Health Telemetry Market size is projected to attain a sizable valuation from 2023 to 2032 on account of the global increase in the number of lifestyle-related 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 in health telemetry market, the mounting prominence of advanced technologies, such as medical telemetry is increasing. The growing risk of chronic diseases among people, particularly elderly individuals, is propelling product uptake across both healthcare establishments and homecare settings.
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. It also allows physicians to 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.
Notably, the rise in cloud computing will provide substantial momentum to the health telemetry market in the coming years. The use of cloud-based services is expanding the scope of telemetry in remote diagnosis, treatment, and management of patients. Increasing consumer awareness about the benefits of telemetry in healthcare and high penetration in emerging economies will be pivotal factors augmenting market demand.
Recently, the Russia-Ukraine war has brought about an upsurge in the use of varied healthcare solutions to address prevalent patient needs, with medical professionals in Ukraine relying on telemedicine to monitor patient health. Thus, the subsequent rise in the revenue for efficient remote patient monitoring has played a crucial role in shaping the landscape of the health telemetry business in the past few years and would positively influence the health telemetry market in the forthcoming years.
Based on type, the market is segmented into glucose level telemonitoring systems, blood pressure telemonitoring systems, COPD telemonitoring systems, and cardiac telemonitoring systems. Among these, the glucose level telemonitoring systems segment is estimated to grow at a robust CAGR over 2023-2032 as a result of the burgeoning number of individuals with 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 providers to monitor patients remotely.
In terms of the end-user, the health telemetry market size from homecare settings will increase sizably over the forecast period. 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 technology usage in homecare settings owing tso improved convenience and comfort.
The Europe health telemetry market is expected to witness considerable progress through 2032. The regional growth can be attributed to the well-established healthcare infrastructure in the region and the growing adoption of technologically advanced products. Europe is home to a massive elderly population base, which is accelerating the acceptance of medical telemetry devices. Besides, the presence of several leading medical device manufacturers in the region will further bolster regional business expansion.
Some key companies operating in the health telemetry industry are Philips Healthcare, GE Healthcare, Astro Med, Honeywell, ChronicWatch, Lindsay, Comarch, Shenzhen Mindray Bio-Medical Electronics, Nihon Kohden, and Spacelabs Medical, among others.