Telemetry is an automated communications process in which information is collected from the remote terminals and then transmitted to the receiving points to be monitored and analysed. This data is transmitted through ultrasonic, audio, infrared, GSM, and satellite that depends on its area of application. Increasing demand for data access from remote locations in order to maintain centralized database of the organisations, which in turn, helps organizations make better decisions, and save time as well as resources. These factors are expected to witness lucrative growth of the market during the forecast period.
Proliferation of telemetry device in the healthcare sector is one of the major factors driving growth of the market
The major factor attributed towards growth of the telemetry market is the increasing adoption of these devices in the healthcare sector for monitoring cardiac abnormalities. Rising prevalence of cardiovascular diseases and increasing mortality due to such diseases across the globe is boosting demand for telemetry devices. For instance, according to the American Heart Association, in the U.S., in 2015, people suffering from cardiovascular disease was 84 million and it has grown up to 86 million in 2017. This telemetry device evaluates the electrical impulses generated by the polarization and depolarization of cardiac tissue and translates them into waveform. This ultimately helps physicians to diagnose cardiac abnormalities along with size and position of chambers. Telemetry devices are thus highly useful for addressing requirements of patients who are highly susceptible to cardiac disorders. For instance, Moreover, these devices are gaining significant traction and support from post-coronary care units and ambulatory service providers. During an emergency situation, ambulatory care units with the help of medical telemetry devices send real-time cardiac activities to hospitals or physicians, which saves time and makes the entire rescue process free from difficulty and run smoothly. These factors in turn, help boost growth of the telemetry market.
Among technologies, the wireless telemetry systems segment is expected to exhibit the highest growth during the forecasted period
Among technologies, the wireless telemetry systems segment is expected to exhibit the highest growth during the forecasted period. The factor attributed towards the growth of the segment includes transferring data among the devices using radio waves and satellite, and Wi-Fi, Zig bee protocol, which in turn makes it cost-effective as compare to wired technology. This factor is thus expected to propel the demand for wireless technology-based telemetry devices during the forecasted period (2018-2026).
High cost of telemetry devices is one of the major restraining factors for the growth of the market
High cost of telemetry devices is a major factor restraining growth of the market. For instance, ECG telemetry used in the healthcare sector, which enables continuous monitoring of the patient, costs around US$ 300. Moreover, the price of the telemetry communication system is US$ 4475.27.
Global Telemetry Market: Regional Insights
The telemetry market in North America accounted the largest market share in 2016 and expected to retain its dominance during the forecasted period, owing to rising incidence of cardiovascular disorders in this region. For instance, according to the CDC (Centre for Disease Control and Prevention) analysis, in the U.S. around 610,000 people died from heart disease every year. Therefore, increasing awareness among patients and healthcare practitioners regarding telemetry devices, in turn is expected to help in minimising death due to heart attacks by offering real-time monitoring, which in turn, helps propel growth of the regional telemetry market. Additionally, government initiatives towards development of new hospitals is another factor propelling the growth of the market. For instance, according to the WHO (World Health Organisation), in 2013, 64% of health spending was paid for by the government with the help of following programs such as Medicare, Medicaid, the Children's Health Insurance Program, and the Veterans Health Administration. Hence, all these factors help in propelling the demand for telemetry in this region.
Global Telemetry Market: Competitive Landscape
Key players operating in the global telemetry market include are Siemens AG, GE Healthcare, Astro-Med, Inc., Rogers Communications, Inc., Philips Healthcare, Verizon Communications, Inc., Honeywell International Inc., Biotelemetry, Inc., L-3 Communications Holdings Inc., and Sierra Wireless, Inc.
Global Telemetry Market: Taxonomy
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:
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.
Coherent Market Insights desk research is based on a principle set of research techniques:
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:
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.
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:
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.
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:
The primary research is conducted with the ecosystem players including, but not limited to:
Finding it difficult to find the research that would cater to your business demands? Give us a chance to help you. One of our Research Consultants will connect to provide a customized solution.[email protected]
Talk to our research consultant to design an exclusive report as per your research needs.
We aim to fulfil client's research demands with tailored research solutions.
We aim to provide research studies in quickest turnaround time and in a much cost effective manner.
We cover each industry from supply and demand side with an aim to provide a most holistic research study.
We strive to provide most accurate and reliable research findings in our research reports.