Telemonitoring gains acceptance

The global telemonitoring system market was valued at USD 1.6 billion in 2017 and is projected to exhibit a CAGR of 10.1 percent from 2018 to 2026, according to Coherent Market Insights. Advancements in telemedicine such as telemonitoring which improve outpatient and homecare services reduce healthcare costs and effectively serve elderly people suffering from chronic diseases. According to a National Center for Biotechnology Information (NCBI) study, telemonitoring helps in the management of common chronic illnesses such as asthma, chronic obstructive pulmonary disorder (COPD), diabetes, heart failure, and hypertension. For instance, as per a study published by BMC Health Services Research, a multi-parametric telemonitoring system reduce the rate of COPD exacerbations in a randomized clinical trial of 100 COPD patients in the Global Initiative for Chronic Obstructive Lung Disease stage II–III, aged 65 years or above for 9 months.

The intervention group measured oxygen saturation, heart rate, temperature, and physical activity using a telemedicine commercial cellular phone plus specific software. Telemonitoring systems allow caretakers and doctors to remotely check the status of patients at any given point of time. Telemonitoring systems can be used in rural areas with low healthcare facilities. Manufacturers in the telemonitoring systems market are focusing on strategic collaborations and development of adequate security and privacy protections of telehealth data and systems. In 2017, GE Healthcare acquired Monica Healthcare, a monitoring technology company. In January 2018, Royal Philips and American Well entered into a strategic partnership to work together to integrate American Well’s mobile telehealth services into an array of Philips solutions for both healthy consumers and patients with a medical need.