Global Telemonitoring Systems Market 2017-2021
About Telemonitoring Systems
Telemedicine refers to the utilization of the telecommunications technology for medical diagnosis, treatment, patient care, and remote monitoring. This reduces the medical costs by allowing healthcare to be administered outside a hospital setting. Telemonitoring is one of the rapidly growing areas of telemedicine. Telemonitoring has different modes of operations such as real-time mode, wherein the data of a patient is available on the server, and the store-and-forward mode, which involves accessing the data at a later time.
Technavio’s analysts forecast the global telemonitoring systems market to grow at a CAGR of 12.96% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global telemonitoring systems market for 2017-2021. To calculate the market size, the report considers the sales of software, hardware, and services deployed across the globe by major and other prominent vendors. To calculate the market size, the revenue generated by both major and other prominent vendors is taken into account.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Telemonitoring Systems Market 2017-2021
Technavio recognizes the following companies as the key players in the global telemonitoring systems market: Abbott, General Electric, McKesson, and Philips.
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.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is Increased adoption of CVIS. CVIS (cardiovascular information system) is a healthcare IT used to store cardiology related information. CVIS helps to increase cardiology operations and offers a platform to access cardiology-related medical data. Hospitals are also integrating cardiology data, such as ECG, hemodynamics data, echogram data, and other laboratory test results, with centralized electronic health records. This enables medical information of the patient to be shared with other departments, such as oncology, for the treatment of CVD and cancer. Centralized databases to access cardiac data enable hospitals to cut down IT costs and streamline workflow for advanced treatment of heart diseases. CVISs support telecardiology programs in hospitals by providing access to patient data while ensuring the removal of redundant data.”
According to the report, one of the major drivers for this market is Rise in chronic diseases and aging population. The increase in incidences of chronic diseases such as heart diseases, stroke, chronic respiratory diseases, and diabetes in the aging population has resulted in the high demand for different diagnostic tests. This demand for diagnostic tests and regular monitoring of the patients will stimulate the need for telemonitoring systems during the forecast period.
Further, the report states that one of the major factors hindering the growth of this market is Lack of adequate ICT infrastructure in rural areas. In telemedicine, physicians and doctors consult their patients via videoconferencing or video consulting. Owing to the lack of a good infrastructure, there are many instances when the virtual consultation gets disconnected abruptly, resulting in the patient following the wrong treatment regimen. Telehealth pilot projects in developing economies face networking issues due to poorly designed network connectivity, poor user experiences, unreliable equipment, and poor bandwidth availability.
Abbott, General Electric, McKesson, Philips, 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.