Medical Telemetry Market Highlights
The global medical telemetry market is expected to witness tremendous growth owing to the information and communication technology or ICT, advancement in mobile perforation, and connectivity in the region is driving the growth of the medical telemetry market.
Other factors such as the advent of various new-age facilities such as mHealth, virtual visits, and tele-ICUs. The industry players such as InTouch Health, iRobot, and Vecna Technologies have developed robots that serve as the physician's stand-in in remote clinics, which are the key factor driving the growth of the segment. However, factors such as low awareness about telemetry in the emerging region are expected to curb the growth of the market during the forecast period.
Medical Telemetry Market Overview and Analysis by component, service, application, end user - forecast till 2032. The medical telemetry market size is projected to reach USD 0.14 Billion by 2032 at 14.1% CAGR during the forecast period 2023-2032.
The Medical Telemetry Market is a dynamic sector within the healthcare industry that involves the remote monitoring of patients' vital signs and medical data. This technology utilizes wireless communication to transmit real-time information from medical devices such as heart rate monitors, ECG machines, and blood pressure cuffs to healthcare providers. The market has been witnessing robust growth due to its ability to enhance patient care, reduce hospital readmissions, and improve the management of chronic illnesses. Factors such as the aging population, increasing prevalence of chronic diseases, and advancements in telecommunication technology are driving its expansion. As healthcare systems worldwide embrace digital transformation, the Medical Telemetry Market is poised for continuous expansion and innovation.
The global medical telemetry market is segmented based on component, service, application, and end user.
Medical Telemetry Market Players
The global medical telemetry market players 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 is occupying a considerable share of the market owing to their offerings to the market
On a regional basis, the medical telemetry market in the Americas is predicted to dominate the market during the forecast period. The North American region holds a substantial share in the global market. This owes to the favourable government framework, high adoption of telehealth devices, and high acceptance rates of telemedicine by the patients in the region are driving the growth of the North America medical telemetry market. Emerging economies with growing healthcare expenditures are also expected to provide opportunities for the growth of the market. In addition to this, increasing government support and funding for the development and improving technology have fuelled the growth of the market.
Currently, the hospital telemetry systems market is dominated by numerous players. The number of manufacturers involved in the development of better devices. For instance, in July 2017, a wireless medical technology provider BioTelemetry Inc. completes acquisition of LifeWatch AG; healthcare technology solution provider. The objective of this acquisition is to capture a huge market opportunity for healthcare and associated domains.
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