About Medical Telemetry
Telemetry is an automatic measurement and transmission of data at a distance by radio, cellular or other means. Medical telemetry is a telemetry application in medical health care. Medical telemetry devices monitor a patient’s vital signs and other health-related parameters and transfer it. The patients with a high risk of various health concerns use medical telemetry devices and these devices are helping to save a life. Medical telemetry allows the patient to be monitored for many days or weeks without staying in the hospital. The current COVID-19 disease is placing extreme stress on the global health care system. The people are being quarantined for not to spread the disease. Various governments are declaring lockdowns in their countries. This is affecting the people who have a history of diseases such as cardiac diseases, lung diseases and others. Medical telemetry devices are being used to manage some aspects of the COVID-19. These devices measure the real-time health-related data of the patient and transfer it to the healthcare professionals. Thus the demand for such devices is high in COVID-19 pandemic. The World Health Organization mentioned telemedicine among essential services in “strengthening the Health Systems Response to COVID-19” policy. According to a new WHO policy, within the optimizing service delivery action, telemedicine should be one of the alternative models for clinical services and clinical decision support. In March 2020, FDA has issued a policy to facilitate greater use of remote patient monitoring technologies to cut back on hospital visits and thereby minimize the risk of exposure to COVID-19 while also reducing the burden on providers during the current crisis.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are increasing their healthcare device production to meet market demands due to COVID-19 disease spread. They are implementing advanced techniques to increase their production. Due to a shortage of labors, they mainly focus on automation in the production process. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Medical Telemetry market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
GE Healthcare (United States), Genesis Health System (United States), Philips Healthcare (Netherlands), Medtronic (United States), BioTelemetry Inc. (United States), Spacelabs Healthcare (United States), Applied Cardiac Systems (United States), The Scottcare Corporation (United States), Zoll Medical Corporation (United States) and Welch Allyn (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Telerhythmics, LLC (United States), Nihon Kohden (Japan), Astro Med Inc. (United States) and Others.
Segmentation Overview
AMA Research has segmented the market of Global Medical Telemetry market by Type (Resting ECG Telemetry Devices, Stress ECG Telemetry Devices and Others), Application (Radiology, Cardiology, Urgent Care, Remote ICU and Other) and Region.
On the basis of geography, the market of Medical Telemetry has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Services, the sub-segment i.e. Real-Time will boost the Medical Telemetry market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Component, the sub-segment i.e. Hardware will boost the Medical Telemetry market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Adoption of Technological Advanced Products and Rising Applications of IoT Devices
Market Growth Drivers:
Growing Need of Medical Telemetry Devices in COVID-19 Pandemic, Growing Cardiovascular Disorder Incidents, Rising Demand for Cloud Computing and Increasing Medical Telemetry Applications
Challenges:
High Capital Investments Associated With Telemetry Instruments and Shortage of Skilled Labors
Restraints:
Lockdowns in various countries result in a shortage of labors that may affect the production of medical telemetry devices and Lack of Healthcare Infrastructure in some Regions
Opportunities:
Increasing COVID-19 cases around the globe results in the high demand for medical telemetry devices. Governments are taking initiatives to reduce the burden on the clinical facilities is boosting demand for such devices. Demand for these devices will be high in the upcoming future from various countries such as the United States, Italy, India and COVID-19 affected countries.
Market Leaders and their expansionary development strategies
In August 2019, Royal Philips, a global leader in health technology, has announced that it has completed the previously announced acquisition of Carestream Health Inc.’s Healthcare Information Systems (HCIS) business in 26 of the 38 countries in which it operates.
In June 2018, GE announced the results of its strategic review and plans to separate GE Healthcare into a standalone company and pursue an orderly separation from BHGE over the next two to three years to make its corporate structure leaner and substantially reduce debt.
In January 2020, the U.S. Food and Drug Administration has issued a safety communication informing health care providers, facilities and patients about cybersecurity vulnerabilities and telemetry servers. These devices are primarily used in health care facilities for displaying patient information, such as the physiologic status (i.e., temperature, heartbeat, blood pressure, etc.) of a patient, and monitoring patient status from a central location in a facility, such as a nurse’s bay.
Key Target Audience
Medical Telemetry Instrument Manufacturers, Raw Material Suppliers/ Buyers, Distributors, Government Body & Associations and End-user
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.