Telemedicine Devices Market Set To Grow To Over $1.9bn In 2018
02 August 2018
Visiongain has launched a new pharma report Telemedicine Devices Market 2018-2028:
Forecasts and Analysis by Device Type (Telemonitors, Peripheral Devices). Peripheral Devices (Blood Pressure Monitors, Blood Glucose Monitors, Weighing Scales, Pulse Oximeters, Peak Flow Meters, Others) and Geography, with Profiles of Leading Companies
Telemedicine has the potential to increase access to care, improve patient outcomes and generate cost savings. Telemedicine devices and smartphones can connect patients to caregivers from remote locations/home/non-clinical settings. Through video, audio and chat consultations, patients can have doctor visits when they aren’t able to physically visit them. At present, telemedicine devices market is in growth phase and has a lot of potential to grow in the forecast period. The growing prevalence of chronic diseases and increasing ageing population across the globe are key drivers for growth of telemedicine devices market. Other factors driving the telemedicine market growth are rising awareness among caregivers and patients on benefits of telemedicine, advancements in telemedicine technology and improvement in ICT networks, growing per capita income, and government initiatives for adoption of telemedicine technology. At present many countries lack the proper framework and policies needed for successful implementation of telemedicine. Furthermore, reimbursement codes are not present for reimbursing telemedicine services. However, this scenario is changing and governments in countries such as the US, China, India, Brazil, and many European countries are making reforms in their telemedicine related policies to support telemedicine adoption.
This Visiongain report covers the global telemedicine devices market, including the leading segments and national markets for telemedicine devices. We aim to provide a comprehensive and critical analysis of the market, assessing the market’s potential from a variety of viewpoints. We examine the opportunities and challenges that exist within the market, as well as the major commercial trends. We also analyze the market prospects for different segments and provide an overview of the research and development in this sector.
The lead analyst for this report states:
“One of the great challenges being faced by the healthcare professionals is the increasing burden of chronic diseases such as diabetes, heart diseases and respiratory disorders. Greater longevity, modification of lifestyles and exposure to chronic disease risk factors (e.g. tobacco, inactivity, rich and greasy food), and the growing ability to intervene to keep people alive that previously would have died, has increased the burden on health systems.
Recently compiled data from WHO states that about 150 million people have diabetes mellitus worldwide, and this number may double by 2025. Furthermore, globally, approximately 8 million people die every year due to hypertension. It is estimated that in 2025, an estimated 1.56 billion adults will be living with hypertension. Telemedicine can help in better management of these diseases as well as help to reduce associated cost. The sickness, disability or death associated with chronic disease can be avoided through preventive measures and use of telemedicine. Moreover, when an older person is diagnosed with a chronic disorder, there is feeling of a loss of freedom and autonomy. Telemedicine can offer a good quality life for such patients at home.”
The Global market is highly competitive with many different players entering the market. The report discusses products from leading companies in the market. The report discusses products from leading companies in the market. Notable companies in the Telemedicine Devices market include Royal Philips, Boston Scientific, Medtronic, Plc., Aerotel Medical Systems Limited, Honeywell Life Care Solutions, Omron Corporation, Nonin Medical, Inc., Biotronik, Inc. and Welch Allyn, Inc. amongst others.
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