Industry Background:
Telemetry is an automated communications process in which information is collected from the remote terminals and then transmitted to the receiving points to be monitored and analyzed. This data is transmitted through ultrasonic, audio, infrared, GSM, and satellite that depends on its area of application. Wireless medical telemetry is generally used to monitor a patient's vital signs (e.g. pulse, and respiration) using radio frequency (RF) communication. These devices have the advantage of allowing patient movement without restricting patients to a bedside monitor with a hard-wired connection. For instance, according to the American Heart Association, in the U.S., in 2015, people suffering from cardiovascular disease were 84 million and it has grown up to 86 million in 2017. This telemetry device evaluates the electrical impulses generated by the polarization and depolarization of cardiac tissue and translates them into waveforms.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia Pacific |
Unit | Value (USD Million) |
Key Companies Profiled | Honeywell (United States), TeleMedCare (United States), Medtronic (United States), Boston Scientific (United States), GE Healthcare (United States), Meytec (Germany), Nihon Kohden (Japan) and Phillips Healthcare (Netherlands) |
According to AMA, the market for Healthcare Telemetry System is expected to register a CAGR of 20.3% during the forecast period to 2030. This growth is primarily driven by Rising prevalence of cardiovascular diseases and increased mortality due to such diseases across the globe.
Globally, a noticeable market trend is evident Growing Cloud Computing Market
The Internet Software & Services sector in the North America region has been increasing at a sustainable rate, and further growth is expected to be witnessed over the forecast period, owing to the robust investments and expansion in production facilities in the region. Major Players, such as Honeywell (United States), TeleMedCare (United States), Medtronic (United States), Boston Scientific (United States), GE Healthcare (United States), Meytec (Germany), Nihon Kohden (Japan) and Phillips Healthcare (Netherlands), etc have either set up their manufacturing facilities or are planning to start new provision in the dominated region in the upcoming years. The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies.
Key Developments in the Market:
In Jan 2021 - Boston Scientific announced that it has entered into a definitive agreement to acquire Preventice Solutions, Inc., a privately-held company that offers a full portfolio of mobile cardiac health solutions and services, ranging from ambulatory cardiac monitors – including short and long-term Holter monitors – to cardiac event monitors and mobile cardiac telemetry. and On 18th Dec 2020 - Philips to acquire BioTelemetry, Inc. for USD 72.00 per share; implied enterprise value of USD 2.8 billion. Acquisition is a strong fit with Philips’ strategy to transform the delivery of healthcare: the combination of Philips’ leading patient monitoring position in the hospital with BioTelemetry’s leading cardiac diagnostics and monitoring position outside the hospital. The combination will result in significant synergies driven by cross-selling opportunities, geographical expansion, portfolio innovation synergies, and productivity gains
In October , 2021 KORE , a global leader in Internet of Things (IoT) solutions and worldwide IoT Connectivity-as-a-Service (CaaS), unveiled today a new Connected Health solution that enables customers to quickly incorporate the data telemetry component into their overall Connected Health offering, allowing their resources to focus on their primary business objective and value proposition.
Regulatory Insights:
The Federal Communications Commission (FCC) established the Wireless Medical Telemetry Service (WMTS) by allocating specific frequency bands exclusively for wireless medical telemetry. The WMTS set aside 14 MHz of spectrum in three defined frequency bands of 608-614 MHz, 1395-1400 MHz, and 1427-1432 MHz for primary or co-primary use by eligible wireless medical telemetry users. and The FDA encourages manufacturers and users of medical telemetry devices to use this spectrum because of its protection against interference from other intentional transmitters and because frequency coordination will be provided.
Influencing Trend:
Growing Cloud Computing Market and Integration Of Smart Devices With Big Data
Market Growth Drivers:
Rising prevalence of cardiovascular diseases and increased mortality due to such diseases across the globe
Challenges:
Slow Rate of Adoption And Lack Of Infrastructure
Restraints:
Lack Of Awareness And Skilled Labor and Interoperability And Security
Opportunities:
Growing Demand in Emerging Nations and The increasing importance of medical monitoring of biological signals such as EKG, EEG, and EOG, growing demand for such technologies in a critical medical environment
AMA Research follows a focused and realistic research framework that provides the ability to study the crucial market dynamics in several regions across the world. Moreover, an in-depth assessment is mostly conducted by our analysts on geographical regions to provide clients and businesses the opportunity to dominate in niche markets and expand in emerging markets across the globe. This market research study also showcases the spontaneously changing Players landscape impacting the growth of the market. Furthermore, our market researchers extensively analyze the products and services offered by multiple players competing to increase their market share and presence.
Customization in the Report
AMA Research features not only specific market forecasts but also includes significant value-added commentary on:
- Market Trends
- Technological Trends and Innovations
- Market Maturity Indicators
- Growth Drivers and Constraints in Healthcare Telemetry System Market
- Analysis about New Entrants in Healthcare Telemetry System Market & Entry/Exit Barriers
- To Seize Powerful Market Opportunities
- Identify Key Business Segments, Market Proposition & Gap Analysis
- An Unbiased Perspective towards Market Performance & Indicators
Against this Challenging Backdrop, Healthcare Telemetry System Study Sheds Light on
The Healthcare Telemetry System Market status quo and key characteristics. To end this, Analysts at AMA organize and took surveys of the Healthcare Telemetry System industry Players. The resultant snapshot serves as a basis for understanding why and how the industry can be expected to change.
Where Healthcare Telemetry System industry is heading and what are the top priorities. Insights are drawn from financial analysis, surveys, and interviews with key executives and industry experts.
How every company in this diverse set of Players can best navigate the emerging competition landscape and follow a strategy that helps them position to hold the value they currently claim or capture the new addressable opportunity.