Report Overview

According to the deep-dive market assessment study by Growth Plus Reports, the global health telemetry market was valued at US$ 68.75 billion in 2022 and is expected to register a revenue CAGR of 11.43% to reach US$ 182.1 billion by 2031.

Health Telemetry Market Fundamentals

Health/medical telemetry uses wireless communication technologies to remotely monitor a patient’s physiological parameters, such as heart rate, blood pressure, and oxygen levels. It involves medical devices that collect patient data and transmits it to a remote monitoring system, where healthcare professionals can view and analyze it. Medical telemetry is used in various settings, such as hospitals, clinics, and homes, to monitor patients who require continuous or periodic monitoring. It is often used for patients with chronic conditions, such as heart disease, or recovering from surgery or other medical procedures. It can also reduce the need for hospitalization and allow patients to receive care in the comfort of their own homes.

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Health Telemetry Market Dynamics

The health telemetry market is expected to grow significantly in the coming years due to the increasing demand for remote patient monitoring and the rising prevalence of chronic diseases. One of the major factors driving the revenue growth of the health telemetry market is the increasing usage of wearable devices for remote patient monitoring. Wearable devices are becoming increasingly popular due to their ease of use, convenience, and affordability. These devices can track vital signs, such as heart rate, blood pressure, and blood sugar levels, and transmit this data to healthcare professionals in real time. Another trend in the health telemetry market is using artificial intelligence (AI) and machine learning to analyze the data collected by remote monitoring devices. AI algorithms can help healthcare professionals to detect patterns and trends in patient data that may indicate a change in the patient’s condition. This can enable earlier intervention and better patient outcomes. The market for health telemetry has been growing steadily in recent years due to the increasing demand for remote patient monitoring, especially in light of the COVID-19 pandemic. 

Cloud computing will offer major momentum to the health telemetry market in the coming years. The usage of cloud-based services is broadening the scope of telemetry in remote patient diagnosis, treatment, and management. Growing public knowledge of the benefits of telemetry in healthcare and growing penetration in emerging nations will be critical contributors to increasing technological demand. Additionally, rising incidences of chronic illness/diseases also play a key role in the upward trend of the global market. Rising chronic disease is a big cause of the rise in deaths. This increased illness is attributed to poor dietary habits. For instance, according to the WHO, 41 million people die yearly due to chronic disease, causing nearly 71% of deaths worldwide. The growing number of non-communicable diseases and chronic diseases enforces a strain on the healthcare system across the globe. The demand for telemetry in home healthcare will expand dramatically in the future years. Healthcare practitioners increasingly use remote patient monitoring technologies to enhance clinical outcomes and patient care delivery for conditions that need continuous monitoring. This practice has gained substantial popularity since the emergence of the coronavirus pandemic, and it is predicted to continue in the future. Apart from advantages, such as convenience and comfort, telemetry is gaining popularity among the aging population for usage in home care settings.

However, there are some restraints in the market, such as risks to cyber security and limited adoption in economically developing countries. Cybersecurity can be considered a leading issue that can restrict revenue growth in the market. The confidentiality and security of the data are key points to be considered. Moreover, inappropriate use of the information can be a big drawback for the market. The privacy and security of patient data is an essential part of the system as this information consists of a person’s health history and personal and bank details. Lack of security in such a sensitive area can be a big challenge or an obstacle for the health telemetry market.

Health Telemetry Market Ecosystem

The global health telemetry market has been analyzed from three perspectives: type, application, and region.

Health Telemetry Market by Type

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Based on type, the global health telemetry market can be segmented into hardware, software, and services.

The services segment is estimated to account for a significant revenue share in the global market. With the rising prevalence of chronic diseases, the demand for health telemetry services has increased. These services help in remote patient monitoring, disease management, and preventive care, among other things. The health telemetry services segment has experienced significant technological advancements in recent years, which has led to the development of advanced devices, software, and platforms. These advancements have further improved the quality of services offered and increased the accuracy and reliability of telemetry data. Health telemetry provides a cost-effective alternative to traditional in-person medical care. Patients can receive care remotely, reducing the need for hospital visits and other costly medical interventions. Medical telemetry services provide access to medical care in areas where traditional medical assistance may not be readily available. This is particularly important in rural and underserved areas. Medical telemetry services are often integrated with electronic health records, allowing healthcare providers to access patient data remotely. This integration facilitates better communication between healthcare providers, improving patient care and outcomes.

Health Telemetry Market by Application

Based on application, the global health telemetry market can be segmented into radiology, cardiology, remote ICU, psychology, dermatology, and others.

The radiology segment illustrates lucrative revenue growth in the global market with a noticeable market share. Chronic diseases, such as cancer, cardiovascular, and respiratory diseases, require frequent monitoring through radiological imaging, boosting the demand for health telemetry devices. Advancements in imaging technology have led to the development of more sophisticated and accurate health telemetry devices. These devices provide real-time monitoring and analysis of patient data, allowing healthcare providers to make more informed decisions about patient care. Advancements in imaging technology have led to the development of more sophisticated and accurate medical telemetry devices. These devices provide real-time monitoring and analysis of patient data, allowing healthcare providers to make more informed decisions about patient care. Governments worldwide invest heavily in healthcare infrastructure and technology, including medical telemetry devices in radiology. This has helped to increase the availability and adoption of these devices in healthcare facilities.

The cardiology segment is also expected to grow significantly during the forecast period. The segment substantially contributes to the global health telemetry market due to the high prevalence of cardiovascular diseases (CVDs) and the increase in demand for remote patient monitoring devices. According to the 2021 WHO report, approximately 17.9 million people died in 2019 due to CVDs, around 32% of all global deaths. Wherein nearly 85% of deaths were caused by heart attack and stroke. Cardiac telemetry allows healthcare professionals to continuously monitor patients with heart conditions, including arrhythmias, heart failure, and other cardiovascular disorders. Technological advancements have made cardiac telemetry devices more sophisticated, enabling doctors to monitor patients in real-time and provide timely interventions. These devices can also transmit data wirelessly, allowing healthcare professionals to monitor patients remotely and adjust treatment plans as necessary.

Health Telemetry Market by Region

The global health telemetry market can be further segmented based on the region into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.

North America dominates the global health telemetry market in terms of revenue share. This surge can be attributed to various factors, including an aging population, the incidence of heart disease, and a rise in healthcare expenses. The market expansion in this region would be facilitated by a well-established healthcare infrastructure and an increase in the deployment of telehealth systems across diverse healthcare settings. The region’s stronghold may be attributed to well-established healthcare facilities and technologically advanced items. In the future years, the revenue growth of cloud computing will offer major momentum to the health telemetry business. The reach of telemetry in remote diagnosis, treatment, and administration of patients is rising, as is the usage of cloud-based applications. Furthermore, good government efforts, increased R&D expenditure, and the development of smart sensors will all contribute to increased regional revenue.

Asia Pacific is estimated to be the fastest-growing region in the market globally. The region’s revenue growth is mainly attributed to the advancement in the infrastructure, increase in healthcare expenditure, and rise in chronic illness/disease. Moreover, the growing elderly population in Asian countries (such as Japan and South Korea) and emerging government initiatives have rapidly adopted telehealth/telemedicine services. Additionally, the COVID-19 epidemic fueled the market as the regulations during this pandemic had a great impact.

Health Telemetry Market Competitive Landscape

The prominent players operating in the global health telemetry market are:

• Siemens Healthineers AG
• GE Healthcare 
• Philips Healthcare 
• Lindsay Corporation
• Honeywell International 
• IBM Corp 
• Medtronic Plc.
• BioTelemetry Inc.
• Medicomp Systems Inc.
• Medi-Lynx Pvt. Ltd.
• Zoll Medical Corporation

Health Telemetry Market Strategic Developments

• In May 2021, Westfield Memorial Hospital in New York spent US$ 400,000 to install GE Healthcare’s APEX-Pro CH Telemetry System. The technology identifies cardiac abnormalities and arrhythmia by monitoring heart rate and pulse oxygen levels. It is also appropriate for those who have pacemakers.
• In December 2020, Philips finalized the US$ 2.8 billion acquisition of BioTelemetry. The agreement was intended to allow Philips to strengthen its cardiac care offering and position itself as a leader in patient care management in hospitals and homecare settings.

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