Telemonitoring Platforms and Systems Market Global Industry Volume and Region Analysis 2023
Rapid advancements in the field of information technology are paving ways for various new opportunities in the field of telemonitoring platforms and systems. Telemonitoring platforms and systems allow doctors and physicians to evaluate a patient’s medical condition on a daily basis. The system enables healthcare providers to effectively manage and monitor patients’ disease condition so that appropriate treatment can be given to them before it becomes aggravated. Telemonitoring systems provide increased health care quality at a much lower costs. A number of telemonitoring systems such as blood pressure cuffs and glucose meters are available in the market to monitor specific conditions of patients. Various benefit of telemonitoring platforms and systems include vital signs recording, weight check, assessment of oxygen saturation, and blood pressure monitoring. Furthermore, the presence of telemonitoring system in a homecare setting facilitates the transfer of vital information via telephone lines. For instance, a healthcare provider can easily monitor a patient’s heart rate, glucose level, weight, blood pressure, and hemoglobin with the aid of telemonitoring platforms and systems. Proper care is taken that physicians keep themselves involved with the patients before telemonitoring is employed.
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The data collected must be examined and scrutinized thoroughly followed by appropriate recommendations. The increasing use of information technology and communication are reducing the number of hospitalization and hence promoting efficient healthcare at home. A majority of rural people who are unable to manage their disease conditions due to lack of proper transportation, telemonitoring systems have enabled them to gain access to better healthcare services, thereby decreasing the mortality and morbidity rates.
Based on functions, the telemonitoring platforms and systems market can be segmented as follows:
- COPD Telemonitoring System
- Glucose Level Telemonitoring System
- Blood Pressure Telemonitoring System
- Cardiac Telemonitoring System
Based on geography, the telemonitoring platforms and systems market can be segmented into four major regions: North America, Europe, Asia Pacific and Rest of the World (RoW). Out of these regions, North America holds a leading position in the market followed by Europe. The prime factors which have augmented the growth of telemonitoring platforms and systems market in these regions are increasing prevalence of diseases such cardiovascular disease, diabetes, COPD, etc. and gradual shift of healthcare towards information technology and communication. Moreover, healthcare professionals are gradually accepting the approaches pertaining to increasing use of information technology and telemedicine.
Asia Pacific is one of the most promising markets for the growth of telemonitoring platforms and systems market due to the presence of large population base and skilled workforce. The advantageous factors which would propel the growth of the market in Asia Pacific are reduction of healthcare costs and communication services as well as increasing productivity due to telemonitoring systems. In addition, greater improvement in the quality of care, lesser rate of hospitalization and reduction in the therapeutic errors is also anticipated to drive the growth of telemonitoring platforms and systems market.
Rapid technological innovation in disease diagnostics and monitoring is offering wide scope for highly accurate telemonitoring platforms and systems. Some of the top players operating in the telemonitoring platforms and systems market are Philips Healthcare, GE Healthcare, AMD Global Telemedicine, Inc., CARDIOCOM, LLC, Cisco Systems, Inc., McKesson Corporation, OSF Healthcare, InTouch Health Inc., KORE Telematics, Vidyo, Inc., ViTel Net and others.
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