Market Analysis: Global Telemetry Market on the Rise

The global telemetry market is expected to witness lucrative growth opportunities over the forecast period, according to Grand View Research Inc.

A 2017 press release from PRNewswire also predicts growth in the cardiac monitoring (CM) and cardiac rhythm management (CRM) devices market.

“The global CM and CRM devices market is projected to reach $28 billion by 2021 from $22.19 billion in 2016, at a CAGR of 4.8 percent from 2016 to 2021. Growth in this market is mainly driven by factors such as rising incidence of cardiovascular disorders, growing use of mobile cardiac telemetry, and rise in private institutional nursing and home care,” according to the press release about a MarketsandMarkets report.

telemetry

“On basis of product, cardiac monitoring devices market is categorized into ECG devices, implantable loop recorder (ILR), cardiac output monitoring (COM), and event monitors. The ECG devices segment is expected to account for the largest share during the forecast period due to the rapid technological advancements in the improvement of ECG devices,” according to the press release.

“New product launches and approvals were the key strategies adopted by major industry players to increase their market share and cater to unmet needs of the customers. Emerging and immature markets such as Brazil, Japan, China and India are lucrative for CM and CRM devices,” according to MarketsandMarkets.

Advantages associated with telemetry include the ability to allow patients to move freely during cardiac monitoring procedures as well as increasing the transmission of meteorological data. These advantages are a factor in the expected market growth, according to Grand View Research.

There is also a rising demand for the development of instruments that can remotely measure any data and that is expected to boost the global telemetry market.

“Moreover, telemetry has wide application areas such as oil & gas industry, water management, defense, flight testing, agriculture and health care,” according to Grand View Research. “Furthermore, rising demand for cloud computing in almost all sectors such as law enforcement, military intelligence and health care are few factors driving global telemetry market.”

However, high capital investment associated with telemetry and low awareness levels are factors that could impede market growth.

“In 2014, health care, energy and utilities, and retail sectors are amongst the highest revenue generating product segments included in the study,” according to Grand View Research. “Increasing importance of medical monitoring of biological signals such as EKG, EEG and EOG, growing demand of such technologies in critical medical environment and rising need for wireless technology in order to transmit signals over a large distance are some factors attributing to its large share.”

“Wireless segment is anticipated to witness lucrative growth opportunities over the forecast period owing to the rising demand for such technologies in health care system such as wireless cardiac monitors and technological advancements in the field of wireless medical telemetry services,” according to Grand View Research.

Increasing prevalence of cardiovascular disorder and rising awareness among patients and health care practitioners regarding technological advancements in the field of telemetry is one of the key factors attributing to North America’s large share of this market, according to Grand View Research.

Key players operating in the global telemetry market include Philips Healthcare, GE Healthcare, Spacelabs Medical, Nihon Kohden, Astro Med Inc. and Lindsay Corp.

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