Telemetry Market Technological Advancements, Growth Opportunity and Forecast 2018-2026
Telemetry is an
automated communications process in which information is collected from the
remote terminals and then transmitted to the receiving points to be monitored
and analysed. This data is transmitted through ultrasonic, audio, infrared,
GSM, and satellite that depends on its area of application.
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“ Proliferation of telemetry device in the healthcare sector is one
of the major factors driving growth of the market “
The major factor attributed towards growth of the telemetry market
is the increasing adoption of these devices in the healthcare sector for
monitoring cardiac abnormalities. Rising prevalence of cardiovascular diseases
and increasing mortality due to such diseases across the globe is boosting
demand for telemetry devices.
According to the American Heart Association, in the U.S., in 2015,
people suffering from cardiovascular disease was 84 million and it has grown up
to 86 million in 2017. This telemetry device evaluates the electrical impulses
generated by the polarization and depolarization of cardiac tissue and
translates them into waveform. This ultimately helps physicians to diagnose
cardiac abnormalities along with size and position of chambers. Telemetry
devices are thus highly useful for addressing requirements of patients who are
highly susceptible to cardiac disorders.
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“High cost of telemetry devices is one of the major restraining
factors for the growth of the market”
High cost of telemetry devices is a major factor restraining growth
of the market. For instance, ECG telemetry used in the healthcare sector, which
enables continuous monitoring of the patient, costs around US$ 300. Moreover,
the price of the telemetry communication system is US$ 4475.27.
Global Telemetry Market: Regional Insights
The telemetry
market in North America accounted the largest market share in 2016 and expected
to retain its dominance during the forecasted period, owing to rising incidence
of cardiovascular disorders in this region. For instance, according to the CDC
(Centre for Disease Control and Prevention) analysis, in the U.S. around
610,000 people died from heart disease every year.
According to the
WHO (World Health Organisation), in 2013, 64% of health spending was paid for
by the government with the help of following programs such as Medicare,
Medicaid, the Children's Health Insurance Program, and the Veterans Health
Administration. Hence, all these factors help in propelling the demand for
telemetry in this region.
Global Telemetry Market: Competitive Landscape
Key players
operating in the global telemetry market include are Siemens AG, GE Healthcare,
Astro-Med, Inc., Rogers Communications, Inc., Philips Healthcare, Verizon
Communications, Inc., Honeywell International Inc., Biotelemetry, Inc., L-3
Communications Holdings Inc., and Sierra Wireless, Inc.
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