Seattle, Aug. 04, 2022 (GLOBE NEWSWIRE) -- According to Coherent Market Insights, the global telemonitoring system market is estimated to be valued at US$ 2,576.8 million in 2022 and is expected to exhibit a CAGR of 10.3% during the forecast period (2022-2030).
Key Trends and Analysis of the Global Telemonitoring System Market:
Major players operating in the market are focusing on adopting strategies such as product approvals, which is expected to drive the market growth over the forecast period. For instance, in December 2021, Koninklijke Philips N.V. and IJsselland Hospital sign long-term technology partnership, the hospital’s strategic technology partner, Philips will target improved care for patients and care providers at IJsselland Hospital and in the surrounding region. The partnership will focus on innovation, digitalization and optimization, and includes the purchase of patient monitoring and radiology solutions including CT and MRI systems.
According to the World Health Organization, the number of elderly people of aged group 65 and old is estimated to reach 1.5 billion by 2050 globally, the greater prevalence of chronic disease is also effecting the geriatric population. For instance, in July 2019, Withings introduced the most advanced and diverse home cardiovascular monitors at CES (Consumer Electronics Show). It is expected to be the first product that measures BP and records ECG and heart readings via a digital stethoscope in one device.
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Key Market Takeaways:
The global telemonitoring system market is expected to expand at a CAGR of 10.3% during the forecast period (2022–2030), owing to increasing geriatric population and rising demand for home healthcare services
Among application, the COPD monitoring segment is expected to generate significant revenue in 2022, owing to increasing incidence of COPD worldwide. According to the World Health Organization, in May 2022, nearly 90% of COPD deaths globally, in those under 70 years of age occur in low- and middle-income countries (LMIC).
Competitive Landscape:
Major players operating in the global telemonitoring system market 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, Comarch SA, Tunstall Healthcare Group Ltd, and Vidyo, Inc.
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Market Segmentation:
- Global Telemonitoring system Market, By Component:
- Hardware
- Software
- Global Telemonitoring system Market, By Mode of Delivery:
- Web-based
- Cloud-based
- Global Telemonitoring system Market, By Application:
- COPD Monitoring
- Blood Pressure Monitoring
- Glucose Monitoring
- Cardiovascular Disease Monitoring
- Others
- Global Telemonitoring system Market, By Region:
- North America
- By Country
- US
- Canada
- By Country
- Europe
- By Country
- U.K.
- Germany
- Italy
- Spain
- France
- Russia
- Rest of Europe
- By Country
- Asia Pacific
- By Country
- Australia
- India
- China
- Japan
- ASEAN
- South Korea
- Rest of Asia Pacific
- By Country
- Latin America
- By Country
- Brazil
- Mexico
- Argentina
- Rest of Latin America
- By Country
- Middle East
- By Country
- GCC
- Israel
- Rest of Middle East
- By Country
- Africa
- Others By Country
- South Africa
- Central Africa
- North Africa
- Others By Country
- North America
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