Telemonitoring System Market to Emergence of COVID-19 to Augment Growth With Abbott Laboratories, Allscripts Healthcare Solutions, AMD Global Telemedicine

The telemonitoring system allow physicians and doctors to examine and monitor vital health data of the patient at any time. The system is used to monitor medical parameters, symptoms, condition, and health of the patient. Moreover, telemonitoring systems can improve access to specialized care in areas where healthcare professionals are lacking, or in areas where access to healthcare is difficult. The system helps improve quality of life of patients suffering from chronic diseases, as well as help reduce hospital costs.

Increasing prevalence/incidence of chronic diseases coupled with growing geriatric population worldwide is expected to propel the growth of the telemonitoring system market. Chronic diseases are the leading causes of death and disability worldwide. For instance, according to the Centers for Disease Control and Prevention (CDC), six in ten people in the United States live with at least one chronic disease, such as diabetes, cancer, stroke, or heart disease.

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Some of the companies competing in the Telemonitoring System market are: 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.

Increasing research and development activities, government initiatives to promote telehealth, and technological advancements in patient monitoring devices are major factors expected to augment the growth of the telemonitoring system market. For instance, in October 2020, the Dubai Diabetes Centre (DDC) announced that they are testing a telemonitoring system, with 40 patients selected for the research.

The demand for telemonitoring system is expected to spearhead due to the outbreak of COVID-19, which is expected to offer lucrative growth opportunities for players in the telemonitoring system market. ​For instance, in April/May 2020, Phillips enabled hospitals in the Netherlands to remotely screen and monitor patients with COVID-19.

However, inadequate reimbursement, high cost of monitoring products, and risks associated with invasive monitoring devices are expected to restrain the telemonitoring system market growth.

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Detailed Segmentation:

By Component:

    • Hardware
    • Software

By Mode of Delivery:

    • Web-based
    • Cloud-based

By Application:

    • COPD Monitoring
    • Blood Pressure Monitoring
    • Glucose Monitoring
    • Cardiovascular Disease Monitoring
    • Others

Telemonitoring System Market regional analysis includes:

Asia-Pacific (Vietnam, China, Malaysia, Japan, Philippines, Korea, Thailand, India, Indonesia and Australia)

Europe (Turkey, Germany, Russia, United Kingdom, Italy, France, etc.)

North America (United States, Mexico and Canada).

South America (Brazil etc.)

Middle East and Africa (GCC countries and Egypt).

Report Coverage Details
Base Year: 2019 Market Size in 2020: US$ 1.6 billion
Historical Data for: 2016 to 2019 Forecast Period: 2020 to 2027
Forecast Period 2020 to 2027 CAGR: 10.1% 2027 Value Projection: US$ 3.7 Billion

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