Market Research Report
Telemonitoring System Market - Size, Share, Trends, and Forecast to 2026
|Published by||Coherent Market Insights||Product code||738719|
|Published||Content info||176 Pages
Delivery time: 2-3 business days
|Telemonitoring System Market - Size, Share, Trends, and Forecast to 2026|
|Published: October 3, 2018||Content info: 176 Pages||
Telemonitoring systems offer new ways for diagnosis and treatment of patients from distance. The technological advancements and fast-increasing communication capabilities are opening new growth opportunities in telehealth industry due to increasing prevalence of chronic conditions among elderly population, worldwide. Home care for patients with chronic conditions is becoming an important part of the new healthcare strategies in developed economies. Telemonitoring also has many advantages including financial benefits since patients do not have to pay for the cost of hospitalization and transportation.
Rising geriatric population, higher incidences of non-communicable diseases such as Alzheimer’s disease, cardiovascular disease, cancer, diabetes, metabolic disorders, and other mental health problems, which require prolonged treatment are expected to be the major factors driving the telemonitoring systems market growth during the forecast period. Moreover, less number of physicians and healthcare professionals also increases the demand for telemonitoring systems. For instance, according to the 2016 Physician Supply and Demand report released by the Association of American Medical College (AAMC), the significant physician shortfall in the U.S. is expected to reach 94,700, from 61,700 between 2014 and 2025.
However, lack of trained professionals in rural regions, privacy and information security concerns, and low availability of telecommunication bandwidth are the major factors restraining growth of the telemonitoring systems market. Significant privacy and security risks in telehealth systems can adversely affect patients’ and clinicians’ level of trust and willingness to adopt and use the system. For instance, home telemonitoring systems that are designed to detect falls, can collect and transmit information on personal activities that a patient wishes to keep private.
This report provides in-depth analysis of the telemonitoring system market, market size (US$ Mn), and compound annual growth rate (CAGR (%)) for the forecast period: 2018 – 2026, considering 2017 as the base year
It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by leading players
It profiles key players in the global telemonitoring system market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies
Key players covered as a part of this study include Abbott Laboratories, Allscripts Healthcare Solutions Inc., AMD Global Telemedicine, Inc., Cisco Systems, Inc., Care Innovations LLC, General Electric Company, Honeywell Life Care Solutions, InTouch Health, Koninklijke Philips N.V., McKesson Corporation, Medvivo Group Ltd., Medtronic Plc, Nihon Kohden, Siemens Healthineers AG, St Jude Medical, Tunstall Healthcare Group Ltd, and Vidyo, Inc.
Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to their future product launches, governmental initiatives, technological up-gradation, market expansion, and marketing tactics
The global telemonitoring system market report caters to various stakeholders in this industry, including investors, product manufacturers, distributors, suppliers, research and consulting firms, new entrants, and financial analysts