Telemetry is the automated measurement and wireless transmission of data from remote sources to receiving stations for monitoring and recording. It finds widespread applications in healthcare monitoring. Telemetry devices monitor patient’s vital signs such as ECG, blood pressure, blood glucose levels, and body temperature remotely. The global telemetry market is estimated to be valued at US$ 150.51 billion in 2023 and is expected to exhibit a CAGR of 17% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
The global telemetry market has been growing steadily over the past few years owing to the increasing adoption of remote patient monitoring systems. Remote patient monitoring allows continuous monitoring of patients outside of healthcare facilities using digital technologies which helps reduce healthcare costs. It enables early detection of deteriorating health conditions, timely clinical intervention and improvement in patient outcomes. Telemetry finds uses in applications such as cardiology, neurology, respiratory disease monitoring and EKG monitoring. With rising cases of chronic diseases and growing geriatric population prone to such conditions, demand for remote patient monitoring is surging significantly.
Market Dynamics:
The global telemetry market is expected to be flourished by the growing adoption of remote patient monitoring. Remote patient monitoring facilitates continuous monitoring of vitals without hospitalization using telemetry devices which transmits the recorded data to the healthcare providers. This saves costs associated with regular hospital visits while improving patient care. Further, one of the primary drivers fueling the telemetry market growth is the increasing incidence of chronic diseases worldwide. Chronic conditions such as cardiac disorders, diabetes and respiratory diseases require long-term management and real-time monitoring. Telemetry devices help clinicians remotely keep a tab on chronic patient’s health metrics and schedule timely treatments.
Segment Analysis
The global telemetry market is dominated by the healthcare segment which accounts for over 50% of the market share in 2024. Within healthcare, the sub-segment of home healthcare is the fastest growing segment as telemetry devices allow patients to get monitored from home for conditions like cardiac arrhythmia, diabetes etc. This increasing preference for home healthcare over hospital stay is driving the adoption of telemetry devices in the home healthcare sub-segment.
PEST Analysis
Political: Regulations around data privacy and security are getting stronger which is prompting telemetry companies to focus more on cybersecurity and ensuring patient data privacy.
Economic: Rising healthcare costs are positively impacting the telemetry market as it allows for more cost-effective remote monitoring of patients as opposed to expensive hospital stays.
Social: Growing geriatric population globally who are more prone to chronic diseases is driving demand for remote patient monitoring via telemetry.
Technological: Advancements in areas like AI, 5G, and miniaturization of sensors are enabling more compact and advanced telemetry devices with round the clock connectivity for real-time monitoring.
Key Takeaways
The Global Telemetry Market Share is expected to witness high growth over the forecast period due to increasing cases of chronic diseases and rising focus on remote patient care.
Regionally, North America dominated the market in 2024 owing to early technology adoption and supportive reimbursement policies for digital healthcare in the region. However, Asia Pacific is projected to grow at the fastest pace during the forecast period driven by large patient pool, growing medical infrastructure, and focus of global players on emerging markets in the region.
Key players operating in the global telemetry market are Flatiron Health, McKesson Corporation, Cerner Corporation, Koninklijke Philips N.V., GENERAL ELECTRIC COMPANY, Siemens Healthcare Private Limited, Crisp, Varian Medical Systems, Inc., Elekta AB, Accuray Incorporated, C-TAC Health, Oscar Health, NXGN Management, LLC, Epic Systems Corporation, Optum, Inc, 2bPrecise LLC, Orchestrate.AI, Tempus Labs, Oncora Medical, Syapse. Flatiron Health and McKesson Corporation are currently dominating the market due to their extensive product portfolio and global footprint.
