Transparency Market Research attempts to deliver a holistic view of telemonitoring systems in “Telemonitoring Systems Market – Global Industry Analysis, Size, Share, Growth, Trends and Forecast 2016 – 2024.” The report speaks of telemonitoring, an evolutionary step in the field of healthcare monitoring and patient care services.
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The primary cause of growth for the global telemonitoring systems market is the growing number of patients suffering from life-threatening and chronic diseases, including chronic obstructive pulmonary disease, cardiovascular disease, and diabetes. The scope of remote monitoring in the healthcare sector is massive at the moment, with an increasing geriatric demographic – the primary cause of high demand for health monitoring needs.
Additionally, the demand for the global telemonitoring systems market is increasing even further due to the demand for a greater level of integration of information technology services into telemonitoring to allow a more streamlined and data efficient process. It also increases the comfort level of patients by allowing them to be monitored to greater extents within their own homes rather than having extended stays at the hospital. This allows the patient to reduce expenses while freeing up the much needed space in a hospital for patient care.
The global telemonitoring systems market is, however, currently held back by a high installation and setup cost. This is creating several complication in its implementation in the emerging economies from Latin America and Asia Pacific for now.
The key product types in the global telemonitoring systems market include cardiac telemonitoring systems, blood pressure telemonitoring systems, glucose level telemonitoring systems, and COPD telemonitoring systems. The key end users of the global telemonitoring systems market include hospice care, long-term patient care centers, and home care.
Geographically, North America is expected to remain the leading implementer of telemonitoring systems for the coming years. This region holds a very high percentage of the elderly population that is in a great need for constant medical attention. This factor, coupled with the growing prevalence of chronic diseases and an advanced healthcare sector that is capable of using the latest technologies, is propelling North America even further in the global telemonitoring systems market. Future promises of growth in the global telemonitoring systems market lie in Asia Pacific, as this region shows a rapid rate of healthcare evolution coupled with increasing patient reach and a growing expenditure on healthcare services.
The key players in the global telemonitoring systems market include GE Healthcare, Abbott, Honeywell HomeMed, Mindray Medical International Limited, Cisco Systems, Inc., DigiO2 International Co. Ltd., Qi Imaging, LLC, Philips Healthcare, Siemens Healthcare, and Telehealth Solutions.
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