Telemonitoring System Market Source Planning and Manufacturing Base Forecast To 2026 with Top Players Cisco Systems, Inc., Medtronic Plc, Siemens Healthineers, Honeywell Life Care Solutions, Abbott Laboratories, Allscripts Healthcare Solutions Inc.

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.

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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).

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.

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.

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.

Detailed Segmentation:

Global Telemonitoring System Market, By Application:

- COPD Monitoring
- Blood Pressure Monitoring
- Glucose Monitoring
- Cardiovascular Disease Monitoring
- Others

Global Telemonitoring System Market, By Mode of Delivery:

- Web-based
- Cloud-based

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