Health & Safety Industry Today

Telemonitoring Systems Market Insights, Growth Trends and Report 2024-2031

Dive into the dynamic Telemonitoring Systems Market with a projected CAGR of 12.42% during 2024-2031. Discover insights into remote patient monitoring, technological advancements, market trends, segmentation, key players, and more.
Published 23 February 2024

Market Outline

Global Telemonitoring Systems market is expected to grow at a CAGR of 12.42% during the forecast period 2024-2031. 

Telemonitoring involves the remote monitoring of patients using information technology, allowing for effective monitoring and management of their health status from a distance. This approach offers several benefits, including cost-effectiveness, as it facilitates better follow-up and minimizes complications associated with chronic diseases.

By enabling healthcare services without the need for hospital beds, telemonitoring reduces the burden on healthcare facilities and lessens patient travel, time off from work, and overall costs. Overall, telemonitoring provides a convenient and efficient means of delivering healthcare services while improving patient outcomes and reducing healthcare expenses.

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Telemonitoring Systems Market Trends 

The increasing adoption of telemonitoring among patients is expected to be a significant driver of market growth in the coming years.

Technological advancements in patient monitoring are anticipated to further propel market expansion during the forecast period, with mobile health (mHealth) tools emerging as promising healthcare technologies. These tools offer potential benefits such as cost savings, improved access to care, and enhanced clinical outcomes.

A Sage Journals article published in January 2021 highlighted chronic disease as a primary global health concern, particularly with the aging population. There is a growing trend towards home healthcare services to meet the needs of individuals living with chronic diseases, with telehealth playing a pivotal role in this response. This trend has led to an increased demand for telemonitoring systems in the market.

Moreover, key players are implementing new market strategies such as product launches and acquisitions to capitalize on this growing demand. For example, in January 2022, Clear Arch Health acquired Life Care Solutions (LCS), a division of Resideo, a global leader in remote patient monitoring. LCS offers a comprehensive remote patient monitoring solution aimed at streamlining care coordination and improving outcomes.

Additionally, in October 2021, Honeywell introduced its Real-Time Health Monitoring System (RTHMS), a smart edge-to-cloud communication platform designed for remote and real-time patient monitoring. This system serves as a bridge between caregivers and patients, digitizing and automating critical tasks and potentially reducing hospital administrative tasks by 35%.

These developments underscore the growing importance of telemonitoring in healthcare delivery and the significant role it plays in improving patient care outcomes while reducing healthcare costs and administrative burdens.

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Industry Segmentation 

By Product Type 

  • Software 
  • Hardware 

By Application 

  • COPD Tele Monitoring Systems 
  • Vital Sign Telemonitoring Systems 
  • Cardiac Telemonitoring Systems 
  • ECG Telemonitoring Systems 
  • Physical Health Telemonitoring Systems 
  • Diabetes Telemonitoring 
  • Others 

By End Users 

  • Hospitals 
  • Home Care 
  • Long Term Care Centers 

Industry Players 

Major players are Honeywell Life care solutions, Medtronic, Nomadeec, Meytec, Cisco Systems, Philips, Intouch health, AT&T, Medisanté AG, GE Healthcare, BodyTel, and Emperra GmbH. 

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