Medical Telemetry Market Research Report, by Component (Hardware, Software, Integrated, Standalone, Service (Real-time, Store and Forward, Remote Monitoring), Application (Radiology, Cardiology, Urgent Care, Remote ICU, Psychiatry, Dermatology), End User (Payers, Providers, Patients) - Global Forecast till 2027
It is estimated that the global Medical Telemetry Market is expected to register a CAGR ~21% during the forecast period of 2019 to 2027.
The global medical telemetry market is expected to witness tremendous growth owing to the information and communication technology or ICT, advancement in mobile perforation, and connectivity in the region is driving the growth of the medical telemetry market. Other factors such as the advent of various new-age facilities such as mHealth, virtual visits, and tele-ICUs. The industry players such as InTouch Health, iRobot, and Vecna Technologies have developed robots that serve as the physician's stand-in in remote clinics, which are the key factor driving the growth of the segment. However, factors such as low awareness about telemetry in the emerging region are expected to curb the growth of the market during the forecast period.
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The major players operating in the global medical telemetry market are Siemens AG, GE Healthcare, Astro-Med, Inc., Philips Healthcare, Lindsay Corporation, Honeywell International Inc., IBM Corp, Finmeccanica SPA. Medtronic, BioTelemetry Inc., Applied Cardiac Systems, Inc, Medicomp Inc, Preventice Services, LLC, The Scottcare Corporation, Medi-Lynx (Subsidiary of Medicalgorithmics, S.A), Zoll Medical Corporation, Welch Allyn, and Telerhythmics, LLC is occupying a considerable share of the market owing to their offerings to the market
On a regional basis, the medical telemetry market in the Americas is predicted to dominate the market during the forecast period. The North American region holds a substantial share in the global market. This owes to the favorable government framework, high adoption of telehealth devices, and high acceptance rates of telemedicine by the patients in the region are driving the growth of the North America medical telemetry market. Emerging economies with growing healthcare expenditures are also expected to provide opportunities for the growth of the market. In addition to this, increasing government support and funding for the development and improving technology have fueled the growth of the market.
Currently, the medical telemetry market is dominated by numerous players. The number of manufacturers involved in the development of better devices. For instance, in July 2017, a wireless medical technology provider BioTelemetry Inc. completes acquisition of LifeWatch AG; healthcare technology solution provider. The objective of this acquisition is to capture a huge market opportunity for healthcare and associated domains.
The global medical telemetry market is segmented on the basis of component, service, application, and end user.
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