Telemonitoring System Market, by Component (Hardware and Software), by Mode of Delivery (Web-based and Cloud-based), by Application (COPD Monitoring, Blood Pressure Monitoring, Glucose Monitoring, Cardiovascular Disease Monitoring, and Others), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) - Size, Share, Trends, and Forecast to 2026

  • Published On : Oct 2018 |
  • Pages : 176 Pages |
  • Format : CMI Insight PPT Format CMI Insight PDF Format

Telemonitoring System Market – Insights

Telemonitoring system provides patients and professionals with regular measurements of a range of symptoms and physiological parameters. The system can improve access to specialized care in areas with lack of healthcare professionals or in areas where access to healthcare is difficult. It can improve quality of life of patients suffering from chronic diseases and reduce hospital costs. Services such as teleconsultation and teleradiology will help shorten waiting lists, optimize the resources, and enable productivity gains.

Moreover, increased implementation of telehealth will significantly decrease the dependency on hospitals and enable accessibility to proper healthcare services from home. A NTCA-The Rural Broadband Association report published in 2017 stated that telemedicine could save thousand dollars per annum in healthcare costs, thereby, reducing significant cost spent on labor wages, lab cost, medical facility, and transportation.  

The global telemonitoring system market size was valued at US$ 1.6 billion in 2017 and is expected to witness a CAGR of 10.1% over the forecast period (2018 – 2026).

Global Telemonitoring System Market Share (%) Analysis, By Application, 2017

Source: Coherent Market Insights Analysis (2018)

Government initiatives to support telehealth services is expected to drive growth of the telemonitoring system market revenue

Increasing global incidence of chronic diseases, rising geriatric population rate, and government initiatives to promote telehealth are major factors driving the telemonitoring systems market growth. For instance, in the U.S., the new CONNECT (Creating Opportunities Now for Necessary and Effective Care Technologies) for Health Act, introduced in June 2017, is expected to promote cost savings and improve quality care in Medicare through telehealth and remote patient monitoring. Moreover, the act permits the use of telemonitoring systems for patients suffering from chronic conditions. The government is also funding the research and development activities to establish telehealth programs. In 2017, Southwest Telehealth Resource Center (SWTRC) received US$ 975,000 cooperative agreement grant from the Federal Office for the Advancement of Telehealth (OAT). The grant will help in adoption of telehealth programs in clinics, hospitals, and public health offices in the underserved areas in the U.S.

Telemonitoring System Market Restraints

However, there are certain limitations with the usage and adoption of telemonitoring systems such as development of trust of care providers who are not actually present at place, difficulty in understanding the technology, and concerns regarding medical data privacy. Risk management from a distance has been a concern, often dependent on the level of training given to the individual reviewing the data. Clinicians at a distance will find it difficult to communicate if the patient develops impaired senses and dementia.

Moreover, advancements in technology can increase the cost of equipment and implementation. Other potential drawbacks include user interface problems, technical problems, and safety concerns such as data loss and confidentiality. All these factors collectively confine the adoption of telemonitoring systems, thereby restraining the telemonitoring systems market growth.

Telemonitoring System Market - Regional Insights

On the basis of region, the global telemonitoring system market is segmented into North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. North America telemonitoring system market is expected to witness significant growth over the forecast period, owing to increasing adoption of telemonitoring systems in the U.S. The demand for telemonitoring systems in the country is driven due to strong economy and rising trends of home nursing facilities. According to the Centers for Medicare & Medicaid Services, around 12 million individuals received care from over 33,000 providers in 2010. In 2009, annual expenditures for home health care was around US$ 72.2 billion.

Asia Pacific telemonitoring systems market is expected to grow at lucrative CAGR, owing to increasing number of diabetes and cardiovascular disorder patients. Moreover, a huge population in this region lives in economically backward areas with poor or no healthcare facilities. Therefore, implementation of low cost telemonitoring systems can increase the adoption of telehealth in the region. According to the American Heart Association 2016 report, premature mortality in terms of years of life lost because of cardiovascular disease in India increased by 59%, from 23.2 million in 1990 to 37 million in 2010.

Global Telemonitoring System Market Revenue (US$ Mn), By Region, 2017

   

 Source: Coherent Market Insights Analysis (2018)

Telemonitoring System Market - Competitive Landscape

Key players operating in the global telemonitoring system market include Abbott Laboratories, Allscripts Healthcare Solutions Inc., AMD Global Telemedicine, Inc., Cisco Systems, Inc., Care Innovations LLC, General Electric Company, Honeywell Life Care Solutions, InTouch Health, Koninklijke Philips N.V., McKesson Corporation, Medvivo Group Ltd., Medtronic Plc, Nihon Kohden, Siemens Healthineers AG, St Jude Medical, Tunstall Healthcare Group Ltd, and Vidyo, Inc.

Telemonitoring systems offer new ways for diagnosis and treatment of patients from distance. The technological advancements and fast-increasing communication capabilities are opening new growth opportunities in telehealth industry due to increasing prevalence of chronic conditions among elderly population, worldwide. Home care for patients with chronic conditions is becoming an important part of the new healthcare strategies in developed economies. Telemonitoring also has many advantages including financial benefits since patients do not have to pay for the cost of hospitalization and transportation.

Market Dynamics

Rising geriatric population, higher incidences of non-communicable diseases such as Alzheimer’s disease, cardiovascular disease, cancer, diabetes, metabolic disorders, and other mental health problems, which require prolonged treatment are expected to be the major factors driving the telemonitoring systems market growth during the forecast period. Moreover, less number of physicians and healthcare professionals also increases the demand for telemonitoring systems. For instance, according to the 2016 Physician Supply and Demand report released by the Association of American Medical College (AAMC), the significant physician shortfall in the U.S. is expected to reach 94,700, from 61,700 between 2014 and 2025.

However, lack of trained professionals in rural regions, privacy and information security concerns, and low availability of telecommunication bandwidth are the major factors restraining growth of the telemonitoring systems market. Significant privacy and security risks in telehealth systems can adversely affect patients’ and clinicians’ level of trust and willingness to adopt and use the system. For instance, home telemonitoring systems that are designed to detect falls, can collect and transmit information on personal activities that a patient wishes to keep private.

Key features of the study:

  • This report provides in-depth analysis of the telemonitoring system market, market size (US$ Mn), and compound annual growth rate (CAGR (%)) for the forecast period: 2018 – 2026, considering 2017 as the base year
  • It elucidates potential revenue opportunity across different segments and explains attractive investment proposition matrix for this market
  • This study also provides key insights about market drivers, restraints, opportunities, new product launches or approval, market trends, regional outlook, and competitive strategies adopted by leading players
  • It profiles key players in the global telemonitoring system market based on the following parameters – company overview, financial performance, product portfolio, geographical presence, distribution strategies, key developments, and strategies
  • Key players covered as a part of this study include Abbott Laboratories, Allscripts Healthcare Solutions Inc., AMD Global Telemedicine, Inc., Cisco Systems, Inc., Care Innovations LLC, General Electric Company, Honeywell Life Care Solutions, InTouch Health, Koninklijke Philips N.V., McKesson Corporation, Medvivo Group Ltd., Medtronic Plc, Nihon Kohden, Siemens Healthineers AG, St Jude Medical, Tunstall Healthcare Group Ltd, and Vidyo, Inc.
  • Insights from this report would allow marketers and management authorities of companies to make informed decision with respect to their future product launches, governmental initiatives, technological up-gradation, market expansion, and marketing tactics
  • The global telemonitoring system market report caters to various stakeholders in this industry, including investors, product manufacturers, distributors, suppliers, research and consulting firms, new entrants, and financial analysts

Detailed Segmentation:

  • Global Telemonitoring System Market, By Component:
    • Hardware
    • Software
  • Global Telemonitoring System Market, By Mode of Delivery:
    • Web-based
    • Cloud-based
  • Global Telemonitoring System Market, By Application:
    • COPD Monitoring
    • Blood Pressure Monitoring
    • Glucose Monitoring
    • Cardiovascular Disease Monitoring
    • Others
  • Global Telemonitoring System Market, By Region:
    • North America
      • By Country:
        • U.S.
        • Canada
      • By Component:
        • Hardware
        • Software
      • By Mode of Delivery:
        • Web Based
        • Cloud Based
      • By Application:
        • COPD Monitoring
        • Blood Pressure Monitoring
        • Glucose Monitoring
        • Cardiovascular Disease Monitoring
        • Others
    • Europe
      • By Country:
        • U.K.
        • Germany
        • Italy
        • Spain
        • France
        • Russia
        • Rest of Europe
      • By Component:
        • Hardware
        • Software
      • By Mode of Delivery:
        • Web Based
        • Cloud Based
      • By Application:
        • COPD Monitoring
        • Blood Pressure Monitoring
        • Glucose Monitoring
        • Cardiovascular Disease Monitoring
        • Others
    • Asia Pacific
      • By Country:
        • Australia
        • India
        • China
        • Japan
        • ASEAN
        • South Korea
        • Rest of Asia Pacific
      • By Component:
        • Hardware
        • Software
      • By Mode of Delivery:
        • Web Based
        • Cloud Based
      • By Application:
        • COPD Monitoring
        • Blood Pressure Monitoring
        • Glucose Monitoring
        • Cardiovascular Disease Monitoring
        • Others
    • Latin America
      • By Country:
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
      • By Component:
        • Hardware
        • Software
      • By Mode of Delivery:
        • Web Based
        • Cloud Based
      • By Application:
        • COPD Monitoring
        • Blood Pressure Monitoring
        • Glucose Monitoring
        • Cardiovascular Disease Monitoring
        • Others
    • Middle East
      • By Country:
        • GCC
        • Israel
        • Rest of Middle East
      • By Component:
        • Hardware
        • Software
      • By Mode of Delivery:
        • Web Based
        • Cloud Based
      • By Application:
        • COPD Monitoring
        • Blood Pressure Monitoring
        • Glucose Monitoring
        • Cardiovascular Disease Monitoring
        • Others
    • Africa
      • By Country:
        • South Africa
        • Central Africa
        • North Africa
      • By Component:
        • Hardware
        • Software
      • By Mode of Delivery:
        • Web Based
        • Cloud Based
      • By Application:
        • COPD Monitoring
        • Blood Pressure Monitoring
        • Glucose Monitoring
        • Cardiovascular Disease Monitoring
        • Others
  • Company Profiles
    • Allscripts Healthcare Solutions Inc.*
      • Company Overview
      • Product Portfolio
      • Financial Performance
      • Recent Highlights
      • Strategies
    • Abbott Laboratories
    • AMD Global Telemedicine, Inc.
    • Cisco Systems, Inc.
    • Care Innovations LLC
    • General Electric Company
    • Honeywell Life Care Solutions
    • InTouch Health
    • Koninklijke Philips N.V.
    • McKesson Corporation
    • Medvivo Group Ltd.
    • Medtronic Plc
    • Siemens Healthineers AG
    • St Jude Medical
    • Tunstall Healthcare Group Ltd.
    • Vidyo, Inc.

“*” marked represents similar segmentation in other categories in the respective section.

Table of Contents

  1. Research Objective and Assumption
    • Research Objectives
    • Assumptions
    • Abbreviations
  2. Market Overview
    • Report Description
      • Market Definition and Scope
    • Executive Summary
      • Market Snippet, By Component
      • Market Snippet, By Mode of Delivery
      • Market Snippet, By Application
      • Market Snippet, By Region
    • Coherent Opportunity Map (COM)
  3. Market Dynamics, Regulations, and Trends Analysis
    • Market Dynamics
      • Drivers
      • Restraints
      • Market Opportunities
    • Impact Analysis
    • Market Trends
    • Key Developments
    • Technological Advancements
    • Regulatory Landscape
    • Reimbursement Scenario
    • PEST Analysis
  4. Global Telemonitoring System Market, By Component, 2018 – 2026, (US$ Million)
    • Introduction
      • Market Share Analysis, 2018 and 2026 (%)
      • Y-o-Y Growth Analysis, 2017 – 2026
      • Segment Trends
    • Hardware
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
    • Software
      • Introduction  
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
  5. Global Telemonitoring System Market, By Mode of Delivery, 2018 – 2026, (US$ Million)
    • Introduction
      • Market Share Analysis, 2018 and 2026 (%)
      • Y-o-Y Growth Analysis, 2017 – 2026
      • Segment Trends
    • Web-based
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
    • Cloud-based
      • Introduction  
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
  6. Global Telemonitoring System Market, By Application, 2018 – 2026, (US$ Million)
    • Introduction
      • Market Share Analysis, 2018 and 2026 (%)
      • Y-o-Y Growth Analysis, 2017 – 2026
      • Segment Trends
    • COPD Monitoring
      • Introduction
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
    • Blood Pressure Monitoring
      • Introduction  
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
    • Glucose Monitoring
      • Introduction  
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
    • Cardiovascular Disease Monitoring
      • Introduction  
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
    • Others
      • Introduction  
      • Market Size and Forecast, and Y-o-Y Growth, 2016 – 2026, (US$ Million)
  7. Global Telemonitoring System Market, By Region, 2018 – 2026, (US$ Million)
    • Introduction
      • Market Share Analysis, By Region, 2018 and 2026 (%)
      • Y-o-Y Growth Analysis, By Region, 2016 – 2026
      • Regional Trends
    • North America
      • Market Size and Forecast,  By Component, 2016 – 2026, (US$ Million)
      • Market Size and Forecast, By Mode of Delivery, 2016 – 2026, (US$ Million)
      • Market Size and Forecast,  By Application, 2016 – 2026, (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
        • U.S.
        • Canada
    • Europe
      • Market Size and Forecast,  By Component, 2016 – 2026, (US$ Million)
      • Market Size and Forecast, By Mode of Delivery, 2016 – 2026, (US$ Million)
      • Market Size and Forecast,  By Application, 2016 – 2026, (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
        • U.K.
        • Germany
        • Italy
        • France
        • Spain
        • Russia
        • Rest of Europe
    • Asia Pacific
      • Market Size and Forecast,  By Component, 2016 – 2026, (US$ Million)
      • Market Size and Forecast, By Mode of Delivery, 2016 – 2026, (US$ Million)
      • Market Size and Forecast,  By Application, 2016 – 2026, (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
        • China
        • Japan
        • India
        • ASEAN
        • Australia
        • South Korea
        • Rest of Asia Pacific
    • Latin America
      • Market Size and Forecast,  By Component, 2016 – 2026, (US$ Million)
      • Market Size and Forecast, By Mode of Delivery, 2016 – 2026, (US$ Million)
      • Market Size and Forecast,  By Application, 2016 – 2026, (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
        • Brazil
        • Mexico
        • Argentina
        • Rest of Latin America
    • Africa
      • Market Size and Forecast,  By Component, 2016 – 2026, (US$ Million)
      • Market Size and Forecast, By Mode of Delivery, 2016 – 2026, (US$ Million)
      • Market Size and Forecast,  By Application, 2016 – 2026, (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
        • Northern Africa
        • Central Africa
        • South Africa
    • Middle East
      • Market Size and Forecast,  By Component, 2016 – 2026, (US$ Million)
      • Market Size and Forecast, By Mode of Delivery, 2016 – 2026, (US$ Million)
      • Market Size and Forecast,  By Application, 2016 – 2026, (US$ Million)
      • Market Size and Forecast, By Country, 2016 – 2026, (US$ Million)
        • GCC Countries
        • Israel
        • Rest of Middle East
  8. Competitive Landscape
    • Heat Map Analysis
    • Company Profiles
      • Abbott Laboratories
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Allscripts Healthcare Solutions Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • AMD Global Telemedicine, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Cisco Systems, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Care Innovations LLC
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • General Electric Company
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Honeywell Life Care Solutions
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • InTouch Health
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Koninklijke Philips N.V.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • McKesson Corporation
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Medvivo Group Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Medtronic Plc
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Siemens Healthineers AG
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • St Jude Medical
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Tunstall Healthcare Group Ltd.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
      • Vidyo, Inc.
        • Company Overview
        • Product Portfolio
        • Financial Performance
        • Recent Highlights
        • Strategies
    • Analyst Views
  9. Section
    • References
    • Research Methodology
    • About us and Sales Contact

*Browse 21 market data tables and 25 figures on "Telemonitoring System Market” - Global forecast to 2026”.

Research Methodology

Coherent Market Insights followsa comprehensive research methodology focused on providing the most precise market analysis. The company leverages a data triangulation model which helps company to gauge the market dynamics and provide accurate estimates. Key components of the research methodologies followed for all our market reports include:

  • Primary Research (Trade Surveys and Experts Interviews)
  • Desk Research
  • Proprietor Data Analytics Model

In addition to this, Coherent Market Insights has access to a wide range of the regional and global reputed paid data bases, which helps the company to figure out the regional and global market trends and dynamics. The company analyses the industry from the 360 Degree Perspective i.e. from the Supply Side and Demand Side which enables us to provide granular details of the entire ecosystem for each study. Finally, a Top-Down approach and Bottom-Up approach is followed to arrive at ultimate research findings.


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Coherent Market Insights desk research is based on a principle set of research techniques:

  • National level desk research: It Includes research analysis of regional players, regional regulatory bodies, regional trade associations, and regional organization.
  • Multinational level desk research: The research team keeps a track of multinational players, global regulatory bodies, global trade associations, and global organization.

Coherent Market Insights has a large amount of in-house repository of industry database. This is leveraged as a burner for initiating a new research study. Key secondary sources include:

  • Governmental bodies, National and international social welfare institutions, and organizations creating economic policies among others.
  • Trade association, National and international media and trade press.
  • Company Annual reports, SEC filings, Corporate Presentations, press release, news, and specification sheet of manufacturers, system integrators, brick and mortar - distributors and retailers, and third party online commerce players.
  • Scientific journals, and other technical magazines and whitepapers.

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Preliminary Data Mining

The raw data is obtained through the secondary findings, in house repositories, and trade surveys. It is then filtered to ensure that the relevant information including industry dynamics, trends, and outlook is retained for further research process.

Data Standardization:

Holistic approach is used to ensure that the granular and uncommon parameters are taken into consideration to ensure accurate results. The information from the paid databases are further combined to the raw data in order to standardize it.

Coherent Statistical model

We arrive at our final research findings through simulation models. Coherent Data Analytics Model is a statistical tool that helps company to forecast market estimates. Few of the parameters considered as a part of the statistical model include:

  • Micro-economic indicators
  • Macro-economic indicators
  • Environmental indicators
  • Socio-political indicators
  • Technology indicators

Data Processing

Once the findings are derived from the statistical model, large volume of data is process to confirm accurate research results. Data analytics and processing tools are adopted to process large chunk of collected informative data. In case, a client customizes the study during the process, the research finding till then are benchmarked, and the process for new research requirement is initiated again.

Data Validation

This is the most crucial stage of the research process. Primary Interviews are conducted to validate the data and analysis. This helps in achieving the following purposes:

  • It provides first-hand information on the market dynamics, outlook, and growth parameters.
  • Industry experts validates the estimates which helps the company to cement the on-going research study.
  • Primary research includes online surveys, face-to face interviews, and telephonic interviews.

The primary research is conducted with the ecosystem players including, but not limited to:

  • Raw Material Suppliers
  • Manufacturers
  • System Integrators
  • Distributors
  • End-users

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