Global Medical Telemetry Market Research Report, by Component, Service, Application, End User -Forecast till 2024
— Market Highlights
It is estimated that the global medical telemetry market is expected to register a CAGR ~21% during the forecast period of 2019–2024.
Global telemetry market is expected to witness lucrative growth opportunities over the forecast period owing to the advantages associated with it includes its ability to allow patients to move freely during the cardiac monitoring procedures. The low awareness levels about telemetry solution are expected to impede the market growth.
The global market is highly competitive with a considerable number of players, having a high level of consolidation overall revenue share. For instance, in 2018, Medtronic discontinued marketing for its SEEQ Mobile Cardiac Telemetry (MCT) System to concentrate support on its Reveal LINQ Insertable Cardiac Monitor (ICM) System. Moreover, major companies in the market are involved in new product launches to strengthen their position in the market.
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The Americas is expected to hold a major share in the global medical telemetry market can be attributed to the increase in geriatric population and rise in cardiovascular diseases, the global telemetry market is anticipated to witness a rapid growth rate.
The larger firms are adopting the strategy of acquiring small firms to enhance its product portfolio and expand its footprint in different geographies. For instance, in 2015, Medicomp launched TelePatch, which was the latest breakthrough in the world of ECG patches. Moreover, various companies are also undergoing other strategic alliances such as acquisitions and others to garner their significance and remain competitive in the market.
Europe is expected to hold the second largest share in the medical telemetry market owing to the advancement in technology in terms of mobile health care and medical imaging which further boosts the telemetry market in Europe.
Asia-Pacific was projected to be the fastest growing region for the global medical telemetry market due to the regulatory requirements regarding patient safety, and vendors are focusing on collaborations that can help to extend their brand's visibility in the global market. For example, UCLA Health recently partnered with the city of Zhengzhou in China to establish the Zhengzhou International Telemedicine Center (ZITC). The Middle East and Africa holds the least share in the market due to fewer initiatives taken by the government.
The global medical telemetry market is segmented on the basis of component, service, application, and end user.
The medical telemetry market by component is categorized into hardware and software. The software segment is further divided into integrated and standalone.
Based on services, the global medical telemetry market is segmented into real-time, store & forward, and remote monitoring.
The global medical telemetry market by application is segmented into radiology, cardiology, urgent care, remote ICU, psychiatry, and dermatology.
On the basis of end user, the market is segmented into payers, providers, and patients.
The key players for the global medical telemetry market are Siemens AG, GE Healthcare, Astro-Med, Inc., Philips Healthcare, Lindsay Corporation, Honeywell International Inc., IBM Corp, Finmeccanica SPA. Medtronic, BioTelemetry Inc., Applied Cardiac Systems, Inc, Medicomp Inc, Preventice Services, LLC, The Scottcare Corporation, Medi-Lynx (Subsidiary of Medicalgorithmics, S.A), Zoll Medical Corporation, Welch Allyn, and Telerhythmics, LLC, and others.
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Table Of Contents:
Chapter 1. Report Prologue
Chapter 2. Market Introduction
Chapter 3. Research Methodology
Chapter 4. Market Dynamics
Chapter 5. Market Factor Analysis
Chapter 6. Global Medical Telemetry Market, By Component
Chapter 7. Global Medical Telemetry Market, By Service
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