Telemetry Central Monitors Market Valuation 2018 - 2026
The increasing real-time patient monitoring practices in the developing medical infrastructure and availability of advanced medical facilities propelling the demand for telemetry market over the last decade. Telemetry is an automated process of communication used to measure the data collected at the remote or inaccessible locations. The collected data is transmitted to the receiving device or the person for the monitoring purpose.
Telemetry is commonly known as wireless data transfer mechanism as it transfers the data over other conventional media sources such as optical link, computer network, telephone or the other wired communication medium. Telemetry is an emerging service model which is generally used to provide the services to the physicians and healthcare facility centers. In Telemetry monitoring services, the information technology and telecommunication are utilized to overcome the barrier of distance and to improve the medical services at the end user level. Telemetry services allow healthcare providers to diagnose, evaluate and sometimes treat the patients without the in-person visit. The information technology is advancing to its exponential level and bringing the affordability and accessibility of the telemetry services which changes the market scenario faster than ever before.
Expansion of telemetry central monitoring services
A telemetry central monitor is a valuable tool which is used to provide the additional information to the medical staff about the physiological condition and current health status of the patient. The telemetry central monitor is connected to the patient receiver which transfers the information of the various parameters such as ECG, NIBP and IBP, body temperature, cardiac output and others. Some telemetry central monitors are connected to the bedside monitors by LAN (Local Area Network) to simplifying the system and reducing cost. The telemetry central monitors can simultaneously display of up to 64 monitors, telemetry or bedside.
Factor Driving Telemetry Central Monitors
The global telemetry central monitors market has expected to grow rapidly over a forecast period. The telemetry central monitors are beneficial as it helps to provide the additional information about the parameter or the combination of parameters in the telemetry central station, which is anticipated to boost the demand for the telemetry central monitors and propel the growth of the global telemetry central monitors market. The increasing prevalence of cardiac diseases and disorders also anticipated boosting the demand for telemetry services and telemetry central monitors market over the forecast period. The increasing technological advancement in telemetry central monitors is also expected propel the growth of the global telemetry central monitors market. The telemetry central monitors also help to monitor, track and diagnose irregularities in parameters, which also anticipated to bolster the growth of the global telemetry central monitors market over the long run. The increasing development of medical infrastructure and facilities in the developing economies also expected to drive the growth of the global telemetry central monitors market over the long run.
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However, the telemetry central monitor is unable to replace the bedside monitors due to the technological limitations, which may hinder the demand for telemetry central monitors and restrain the market growth over the forecast period. The higher cost of telecommunication and data management devices associated with telemetry and the shortfall of trained personnel to operate the telemetry central monitor may restrain the growth of the global telemetry central monitor market.
Telemetry Central Monitors in ECG NIBP and IBP monitoring
A significant portion of the market has been covered by the various application such as ECG Monitoring, Respiratory Rate, NIBP and IBP Monitoring, Body Temperature Monitoring, Cardiac Output Monitoring and Intracranial Pressure monitoring.
The applications such as ECG, NIBP, and IBP monitoring collectively hold largest revenue share. This is due to higher incidence of cardiac abnormalities and indications. Moreover, the increasing adoption of telemetry central monitors for other applications such as intracranial pressure monitoring, respiratory rate monitoring which also anticipated to contribute the significant share to the market over the forecast period.
Telemetry central monitors in hospitals
Hospitals and cardiac rehab centers pose a strong position in the market due to increasing demand for telemetry central monitors to cater the increasing telemetry services in the facility centers. These end-user shared significant portion of revenue share in the overall market. However, continuing growth of ambulatory surgical centers and long-term care centers will also register remarkable growth opportunity for telemetry central monitors.
In terms of geography, the global telemetry central monitors market has been divided into five key regions, including North America, Latin America, Europe, Asia-Pacific (APAC) and Middle East & Africa (MEA).
North America has contributed the leading share in terms of revenue to the global telemetry central monitors market due to technological advancement and developed medical infrastructure in the region. Followed by North America, Europe has also registered the significant growth to the global telemetry central monitors market. The Asia Pacific region has expected to show a robust growth over a forecast period due to rapidly developing medical facilities and services in the region. Latin America and MEA are at a nascent stage to the global telemetry central monitors market and expected to register a significant growth over the forecast period.
Some of the players identified in the global telemetry central monitors market are GE Healthcare, Philips Healthcare, Mindray Medical, Welch Allyn, Natus Medical, Spacelabs Healthcare, Nihon Kohden, and Boston Scientific. Majority of telemetry central monitors are available as hospitals and cardiac rehab centers. However, telemetry central monitors offer a global opportunity to its manufacturers, as various ongoing consolidation activities in the market such as collaborations and partnership among market players. For an instance, the company Schiller India launched a new telemetry central monitor ‘ARGUS PRO TELEMETRY TM-1’ which transmits the real-time data of ECG and pulse oximetry to a telemetry central station.
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The market sizing of telemetry central monitors will be done by adoption data triangulation approach. Demand side approach will be followed to assess the actual market size of telemetry central monitors. Secondary research is used at the initial phase to identify the feasibility of the target products/technology categories and its respective segments, product and service offerings, equipment installed base in end use facilities, adoption rate and future impact of new technologies. Additionally, consumables among end users is tracked at a granular level to obtain the most accurate information. Each piece of information is eventually analyzed during the entire research project which builds a strong base for the primary research information.
Primary research participants include demand-side users such as key opinion leaders, physicians, surgeons, and supply-side providers of medical devices who provide valuable insights on trends, key treatment patterns, adoption rate, and purchasing pattern, technological development of medical devices, patient education, effectiveness of manufacturers and important strategies, pricing and competitive dynamics.
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