Telemonitoring Systems Market Size, Share & Analysis | 2031
Telemonitoring Systems Market Size, Share & Analysis | 2031
Segments - Telemonitoring Systems Market by Type (Devices [Multi-parameter Monitoring, Blood Pressure, Glucose, Chronic Cardiovascular Disease Monitoring, Chronic Obstructive Pulmonary Disease Monitoring, and Others] and Services), End-user (Hospital Care, Home Care, Long-term Care, and Others), Application (Chronic Obstructive Pulmonary Disease, Diabetes, Oncology, and Cardiovascular Diseases), and Region (Asia Pacific, North America, Latin America, Europe, and Middle East & Africa) - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast 2023 – 2031
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| Report ID :HC-5295
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Report Description
The global telemonitoring systems market size was valued at nearly USD 51.2 Bn in 2022 and is likely to reach USD 143.4 Bn by 2031, expanding at a CAGR of 12.1% during 2023 – 2031. The growth of the market is attributed to the rising incidences of chronic diseases, growing government initiatives in promoting telemonitoring systems, and the growing geriatric population around the world.
Telemonitoring system is the remote setups for medical consultation and monitoring of a patient’s vital parameters. It records and transmits physiological data including blood pressure, oxygen levels, heart rate monitoring, and symptom scores through automated electronic means.
Telemonitoring systems aid in reducing patient dependency on hospitals by providing healthcare services at a patient’s doorstep. Digital technologies are utilized in capturing patient information, which is transmitted electronically to a team of healthcare providers. Patient-specific instructions and recommendations are provided for effective disease treatments. Cardiac telemonitoring systems, remote diabetes treatment, and blood pressure telemonitoring systems are widely implemented through remote patient care services.
Home healthcare through remote patient monitoring is administered through the use of several sets of medical devices. These devices include special screens for Parkinson's disease and dementia, heart rate monitors, blood pressure monitors, pulse oximeters, and weighing scales. The use of telemonitoring systems reduces travel time and expenses of patients and enhanced comfort for patients.
The market report finds that the COVID-19 pandemic propelled the telemonitoring systems market owing to the increased consultations through virtual meeting platforms. Less availability of manpower in hospitals raised the adoption of telemonitoring devices for self-care, which boosted the market.
Telemonitoring Systems Market Dynamics
Major Drivers
Growing requirement for treating long-term diseases such as Alzheimer’s disease, diabetes, cancer, and cardiovascular disorders is expected to propel the market in the coming years. Chronic diseases can cause death and disability. Thus, it requires regular monitoring to prevent long-term risk. Telemonitoring systems services aid the elderly in reducing their efforts of visiting healthcare facilities. Rising demand from the geriatric population is expected to fuel the market.
Existing Restraints
Difficulties in setting up necessary technology for remote consultations and the concerns regarding medical data privacy are likely to hinder market growth. Stringent regulations about the commercial use of telemonitoring systems services across the globe are likely to hamper the market.
Emerging Opportunities
Rising implementation of telehealth and telemedicine services is anticipated to create lucrative growth opportunities in the market. These services are effective for the methodical treatment of patients and in identifying potential risks. Furthermore, it enables accessibility to proper healthcare from home and minimizes dependency on hospitals.
Scope of the Telemonitoring Systems Market Report
The report on the global telemonitoring systems market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes |
Details |
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Report Title |
Telemonitoring Systems Market - Global Industry Analysis, Growth, Share, Size, Trends, and Forecast |
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Base Year |
2022 |
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Historic Data |
2016 – 2021 |
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Forecast Period |
2023–2031 |
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Segmentation |
Type (Devices [Multi-parameter Monitoring, Blood Pressure, Glucose, Cardiovascular Disease Monitoring, Chronic Obstructive Pulmonary Disease Monitoring, and Others] and Services), End-user (Hospital Care, Home Care, Long-term Care, and Others), and Application (Chronic Obstructive Pulmonary Disease, Diabetes, Oncology, and Cardiovascular Disease) |
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Regional Scope |
Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
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Report Coverage |
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
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Key Players Covered in the Report |
Abbott; Medtronic; Sparrow Health System; McKesson Corporation; General Electric; Koninklijke Philips N.V; Resideo Technologies, Inc.; ADVANCE TELEHEALTH; LifeWatch AG; Shl Telemedicine; Allscripts Healthcare; LLC; Biotronik, Inc; Siemens Healthcare GmbH Healthcare Private Limited; Drägerwerk AG & Co. KGaA; NIHON KOHDEN CORPORATION; and eVisit |
Telemonitoring Systems Market Segment Insights
Based on type, the market is bifurcated into devices and services. The devices segment is further subdivided into multi-parameter monitoring, blood pressure, glucose, cardiovascular disease monitoring, chronic obstructive pulmonary disease monitoring, and others. The devices segment is expected to grow at a significant growth rate in the coming years, due to the growing requirement for regular monitoring. It allows early diagnosis and offers specialized care in a home setting. The segment growth is further attributed to the rising demand for advanced medical devices such as wearables for tracking daily health.
On the basis of end-user, the telemonitoring systems market is divided into hospital care, home care, long-term care, and others. The hospital care segment is anticipated to dominate the market during the forecast period, owing to the growing volumes of patients and the rising number of tests being performed. Hospitals offer a large number of diagnostic tests for various diseases. The availability of a variety of diagnostics services at a low cost is expected to propel the segment.
The home care segment is expected to expand at a considerable CAGR in the coming years, due to the growing patient preferences for home healthcare services. This offers personalized care and eliminates unnecessary visits to hospitals and clinics.
Based on application, the market is divided into chronic obstructive pulmonary disease, diabetes, oncology, and cardiovascular disease. The cardiovascular disease segment is anticipated to hold a key share of the market during the projection period, as the use of telemonitoring devices in cardiovascular diseases provides continuous monitoring, which further reduces emergency hospitalization. Rising demand for advanced monitoring devices for remote management of patients with cardiovascular diseases is likely to boost the segment.
- For instance, the LifeWatch MCT 3 Lead, a mobile cardiac telemetry (MCT) device detects, records, and transmits symptomatic and asymptomatic arrhythmia to clinicians for analysis. If an arrhythmia is detected, it automatically sends the data to a monitoring center for treatment if required.
The chronic obstructive pulmonary disease (COPD) segment is projected to grow at a high CAGR during the assessment period, owing to the growing requirement for treating alpha-1 antitrypsin deficiency. Alpha-1 antitrypsin deficiency is the leading cause of COPD, which may damage the lung. The segment growth is further attributed to the rising adoption of telemonitoring devices to monitor daily health status on their own rather than doctors.
In terms of region, the global telemonitoring systems market is classified as Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. North America is expected to dominate the market during the projection period, due to a rise in the geriatric population, increasing prevalence of chronic diseases, and a rising trend of opting for homecare services. Increasing investments in research and technology and well-established healthcare infrastructure are further likely to propel the market in the region.
The market in Europe is projected to grow at a rapid pace in the coming years, owing to the rising incidence of diabetes and cardiovascular diseases. An increase in technologically advanced systems for internal monitoring and flexibility in data sharing is expected to drive the market in the region.
Segments
The global telemonitoring systems market has been segmented on the basis of
Type
- Devices
- Multi-parameter Monitoring
- Blood Pressure
- Glucose
- Cardiovascular Disease Monitoring
- Chronic Obstructive Pulmonary Disease Monitoring
- Others
- Services
End-user
- Hospital Care
- Home Care
- Long-term Care
- Others
Application
- Chronic Obstructive Pulmonary Disease
- Diabetes
- Oncology
- Cardiovascular Disease
Region
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Key Players
- Abbott
- Medtronic
- Resideo Technologies, Inc.
- Shl Telemedicine
- Siemens Healthcare GmbH
- Sparrow Health System
- McKesson Corporation
- General Electric
- Koninklijke Philips N.V.
- Allscripts Healthcare, LLC
- Biotronik, Inc.
- ADVANCE TELEHEALTH
- LifeWatch AG
- Shl Telemedicine
- Allscripts Healthcare, LLC
- Biotronik, Inc.
- Healthcare Private Limited
- Drägerwerk AG & Co. KGaA
- NIHON KOHDEN CORPORATION
- eVisit
Competitive Landscape
Key players competing in the global telemonitoring system market are Abbott; Medtronic; Sparrow Health System; McKesson Corporation; General Electric; Koninklijke Philips N.V; Resideo Technologies, Inc.; ADVANCE TELEHEALTH; LifeWatch AG; Shl Telemedicine; Allscripts Healthcare; LLC; Biotronik, Inc; Siemens Healthcare GmbH Healthcare Private Limited; Drägerwerk AG & Co. KGaA; NIHON KOHDEN CORPORATION; and eVisit.
These companies are adopting strategies including partnerships, mergers, collaborations, and product launches to cater to the customers and to expand their consumer base worldwide. For instance,
- In January 2022, Abbott Laboratories launched a product range of health wearables called Lingo, which is useful for tracking diet and exercise activities. The technology was based on FreeStyle Liber, which uses sensors in measuring vital parameters of ketones, lactate, and glucose.
Table Of Content
1. Executive Summary2. Assumptions and Acronyms Used
3. Research Methodology
4. Telemonitoring Systems Market Overview
4.1. Introduction
4.1.1. Market Taxonomy
4.1.2. Market Definition
4.2. Macro-Economic Factors
4.2.1. Industry Outlook
4.3. Telemonitoring Systems Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Opportunity
4.3.4. Market Trends
4.4. Telemonitoring Systems Market - Supply Chain
4.5. Global Telemonitoring Systems Market Forecast
4.5.1. Telemonitoring Systems Market Size (US$ Mn) and Y-o-Y Growth
4.5.2. Telemonitoring Systems Market Size (000’ Units) and Y-o-Y Growth
4.5.3. Telemonitoring Systems Market Absolute $ Opportunity
5. Global Telemonitoring Systems Market Analysis and Forecast by Types
5.1. Market Trends
5.2. Introduction
5.2.1. Basis Point Share (BPS) Analysis by Types
5.2.2. Y-o-Y Growth Projections by Types
5.3. Telemonitoring Systems Market Size and Volume Forecast by Types
5.3.1. Devices
5.3.2. Services
5.4. Absolute $ Opportunity Assessment by Types
5.5. Market Attractiveness/Growth Potential Analysis by Types
6. Global Telemonitoring Systems Market Analysis and Forecast by Applications
6.1. Market Trends
6.2. Introduction
6.2.1. Basis Point Share (BPS) Analysis by Applications
6.2.2. Y-o-Y Growth Projections by Applications
6.3. Telemonitoring Systems Market Size and Volume Forecast by Applications
6.3.1. Chronic Obstructive Pulmonary Disease
6.3.2. Diabetes
6.3.3. Oncology
6.3.4. Cardiovascular Disease
6.4. Absolute $ Opportunity Assessment by Applications
6.5. Market Attractiveness/Growth Potential Analysis by Applications
7. Global Telemonitoring Systems Market Analysis and Forecast by End Users
7.1. Market Trends
7.2. Introduction
7.2.1. Basis Point Share (BPS) Analysis by End Users
7.2.2. Y-o-Y Growth Projections by End Users
7.3. Telemonitoring Systems Market Size and Volume Forecast by End Users
7.3.1. Hospital Care
7.3.2. Home Care
7.3.3. Long-term Care
7.3.4. Others
7.4. Absolute $ Opportunity Assessment by End Users
7.5. Market Attractiveness/Growth Potential Analysis by End Users
8. Global Telemonitoring Systems Market Analysis and Forecast by Region
8.1. Market Trends
8.2. Introduction
8.2.1. Basis Point Share (BPS) Analysis by Region
8.2.2. Y-o-Y Growth Projections by Region
8.3. Telemonitoring Systems Market Size and Volume Forecast by Region
8.3.1. North America
8.3.2. Latin America
8.3.3. Europe
8.3.4. Asia Pacific
8.3.5. Middle East and Africa (MEA)
8.4. Absolute $ Opportunity Assessment by Region
8.5. Market Attractiveness/Growth Potential Analysis by Region
8.6. Global Telemonitoring Systems Demand Share Forecast, 2019-2026
9. North America Telemonitoring Systems Market Analysis and Forecast
9.1. Introduction
9.1.1. Basis Point Share (BPS) Analysis by Country
9.1.2. Y-o-Y Growth Projections by Country
9.2. North America Telemonitoring Systems Market Size and Volume Forecast by Country
9.2.1. U.S.
9.2.2. Canada
9.3. Absolute $ Opportunity Assessment by Country
9.4. North America Telemonitoring Systems Market Size and Volume Forecast by Types
9.4.1. Devices
9.4.2. Services
9.5. Basis Point Share (BPS) Analysis by Types
9.6. Y-o-Y Growth Projections by Types
9.7. North America Telemonitoring Systems Market Size and Volume Forecast by Applications
9.7.1. Chronic Obstructive Pulmonary Disease
9.7.2. Diabetes
9.7.3. Oncology
9.7.4. Cardiovascular Disease
9.8. Basis Point Share (BPS) Analysis by Applications
9.9. Y-o-Y Growth Projections by Applications
9.10. North America Telemonitoring Systems Market Size and Volume Forecast by End Users
9.10.1. Hospital Care
9.10.2. Home Care
9.10.3. Long-term Care
9.10.4. Others
9.11. Basis Point Share (BPS) Analysis by End Users
9.12. Y-o-Y Growth Projections by End Users
9.13. Market Attractiveness/Growth Potential Analysis
9.13.1. By Country
9.13.2. By Product Type
9.13.3. By Application
9.14. North America Telemonitoring Systems Demand Share Forecast, 2019-2026
10. Latin America Telemonitoring Systems Market Analysis and Forecast
10.1. Introduction
10.1.1. Basis Point Share (BPS) Analysis by Country
10.1.2. Y-o-Y Growth Projections by Country
10.1.3. Latin America Average Pricing Analysis
10.2. Latin America Telemonitoring Systems Market Size and Volume Forecast by Country
10.2.1. Brazil
10.2.2. Mexico
10.2.3. Rest of Latin America
10.3. Absolute $ Opportunity Assessment by Country
10.4. Latin America Telemonitoring Systems Market Size and Volume Forecast by Types
10.4.1. Devices
10.4.2. Services
10.5. Basis Point Share (BPS) Analysis by Types
10.6. Y-o-Y Growth Projections by Types
10.7. Latin America Telemonitoring Systems Market Size and Volume Forecast by Applications
10.7.1. Chronic Obstructive Pulmonary Disease
10.7.2. Diabetes
10.7.3. Oncology
10.7.4. Cardiovascular Disease
10.8. Basis Point Share (BPS) Analysis by Applications
10.9. Y-o-Y Growth Projections by Applications
10.10. Latin America Telemonitoring Systems Market Size and Volume Forecast by End Users
10.10.1. Hospital Care
10.10.2. Home Care
10.10.3. Long-term Care
10.10.4. Others
10.11. Basis Point Share (BPS) Analysis by End Users
10.12. Y-o-Y Growth Projections by End Users
10.13. Market Attractiveness/Growth Potential Analysis
10.13.1. By Country
10.13.2. By Product Type
10.13.3. By Application
10.14. Latin America Telemonitoring Systems Demand Share Forecast, 2019-2026
11. Europe Telemonitoring Systems Market Analysis and Forecast
11.1. Introduction
11.1.1. Basis Point Share (BPS) Analysis by Country
11.1.2. Y-o-Y Growth Projections by Country
11.1.3. Europe Average Pricing Analysis
11.2. Europe Telemonitoring Systems Market Size and Volume Forecast by Country
11.2.1. Germany
11.2.2. France
11.2.3. Italy
11.2.4. U.K.
11.2.5. Spain
11.2.6. Russia
11.2.7. Rest of Europe
11.3. Absolute $ Opportunity Assessment by Country
11.4. Europe Telemonitoring Systems Market Size and Volume Forecast by Types
11.4.1. Devices
11.4.2. Services
11.5. Basis Point Share (BPS) Analysis by Types
11.6. Y-o-Y Growth Projections by Types
11.7. Europe Telemonitoring Systems Market Size and Volume Forecast by Applications
11.7.1. Chronic Obstructive Pulmonary Disease
11.7.2. Diabetes
11.7.3. Oncology
11.7.4. Cardiovascular Disease
11.8. Basis Point Share (BPS) Analysis by Applications
11.9. Y-o-Y Growth Projections by Applications
11.10. Europe Telemonitoring Systems Market Size and Volume Forecast by End Users
11.10.1. Hospital Care
11.10.2. Home Care
11.10.3. Long-term Care
11.10.4. Others
11.11. Basis Point Share (BPS) Analysis by End Users
11.12. Y-o-Y Growth Projections by End Users
11.13. Market Attractiveness/Growth Potential Analysis
11.13.1. By Country
11.13.2. By Product Type
11.13.3. By Application
11.14. Europe Telemonitoring Systems Demand Share Forecast, 2019-2026
12. Asia Pacific Telemonitoring Systems Market Analysis and Forecast
12.1. Introduction
12.1.1. Basis Point Share (BPS) Analysis by Country
12.1.2. Y-o-Y Growth Projections by Country
12.1.3. Asia Pacific Average Pricing Analysis
12.2. Asia Pacific Telemonitoring Systems Market Size and Volume Forecast by Country
12.2.1. China
12.2.2. Japan
12.2.3. South Korea
12.2.4. India
12.2.5. Australia
12.2.6. Rest of Asia Pacific (APAC)
12.3. Absolute $ Opportunity Assessment by Country
12.4. Asia Pacific Telemonitoring Systems Market Size and Volume Forecast by Types
12.4.1. Devices
12.4.2. Services
12.5. Basis Point Share (BPS) Analysis by Types
12.6. Y-o-Y Growth Projections by Types
12.7. Asia Pacific Telemonitoring Systems Market Size and Volume Forecast by Applications
12.7.1. Chronic Obstructive Pulmonary Disease
12.7.2. Diabetes
12.7.3. Oncology
12.7.4. Cardiovascular Disease
12.8. Basis Point Share (BPS) Analysis by Applications
12.9. Y-o-Y Growth Projections by Applications
12.10. Asia Pacific Telemonitoring Systems Market Size and Volume Forecast by End Users
12.10.1. Hospital Care
12.10.2. Home Care
12.10.3. Long-term Care
12.10.4. Others
12.11. Basis Point Share (BPS) Analysis by End Users
12.12. Y-o-Y Growth Projections by End Users
12.13. Market Attractiveness/Growth Potential Analysis
12.13.1. By Country
12.13.2. By Product Type
12.13.3. By Application
12.14. Asia Pacific Telemonitoring Systems Demand Share Forecast, 2019-2026
13. Middle East & Africa Telemonitoring Systems Market Analysis and Forecast
13.1. Introduction
13.1.1. Basis Point Share (BPS) Analysis by Country
13.1.2. Y-o-Y Growth Projections by Country
13.1.3. Middle East & Africa Average Pricing Analysis
13.2. Middle East & Africa Telemonitoring Systems Market Size and Volume Forecast by Country
13.2.1. Saudi Arabia
13.2.2. South Africa
13.2.3. UAE
13.2.4. Rest of Middle East & Africa (MEA)
13.3. Absolute $ Opportunity Assessment by Country
13.4. Middle East & Africa Telemonitoring Systems Market Size and Volume Forecast by Types
13.4.1. Devices
13.4.2. Services
13.5. Basis Point Share (BPS) Analysis by Types
13.6. Y-o-Y Growth Projections by Types
13.7. Middle East & Africa Telemonitoring Systems Market Size and Volume Forecast by Applications
13.7.1. Chronic Obstructive Pulmonary Disease
13.7.2. Diabetes
13.7.3. Oncology
13.7.4. Cardiovascular Disease
13.8. Basis Point Share (BPS) Analysis by Applications
13.9. Y-o-Y Growth Projections by Applications
13.10. Middle East & Africa Telemonitoring Systems Market Size and Volume Forecast by End Users
13.10.1. Hospital Care
13.10.2. Home Care
13.10.3. Long-term Care
13.10.4. Others
13.11. Basis Point Share (BPS) Analysis by End Users
13.12. Y-o-Y Growth Projections by End Users
13.13. Market Attractiveness/Growth Potential Analysis
13.13.1. By Country
13.13.2. By Product Type
13.13.3. By Application
13.14. Middle East & Africa Telemonitoring Systems Demand Share Forecast, 2019-2026
14. Competition Landscape
14.1. Global Telemonitoring Systems Market: Market Share Analysis
14.2. Telemonitoring Systems Distributors and Customers
14.3. Telemonitoring Systems Market: Competitive Dashboard
14.4. Company Profiles (Details: Overview, Financials, Developments, Strategy)
14.4.1. Abbott
14.4.2. Medtronic
14.4.3. Resideo Technologies, Inc.
14.4.4. Shl Telemedicine
14.4.5. Siemens Healthcare GmbH
14.4.6. Sparrow Health System
14.4.7. McKesson Corporation
14.4.8. General Electric
14.4.9. Koninklijke Philips N.V.
14.4.10. Allscripts Healthcare, LLC
14.4.11. Biotronik, Inc.
14.4.12. ADVANCE TELEHEALTH
14.4.13. LifeWatch AG
14.4.14. Shl Telemedicine
14.4.15. Allscripts Healthcare, LLC
14.4.16. Biotronik, Inc.
14.4.17. Healthcare Private Limited
14.4.18. Drägerwerk AG & Co. KGaA
14.4.19. NIHON KOHDEN CORPORATION
14.4.20. eVisit
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