SKU 21-035

There are several indicators changing the landscape of the healthcare industry.  From the growing aging population to the increasingly digital health platform, the market must adapt to these changes and keep pace with the advancements in technology and expanded delivery of health care.  The number of elderly individuals is increasing, leading to a higher demand for new and better medical technology products. However, governments are focused on limiting and lowering public health care costs.  The U.S. market for instance has witnessed major changes in recent years with major changes beginning in 2010 with the implementation of the Patient Protection and Affordable Care Act (Obama Administration). 

One way the industry is meeting new requirements for cost savings and improving patient outcomes is the use of telehealth or also, referred to as telemedicine.  The terms are often used interchangeably and have evolved to include a wide scope of devices and services. AS discussed in the 2021 update to Kalorama Information’s 2019 report Remote Patient Monitoring, telehealth/telemedicine includes sending images to a specialist, live two-way video consultations between patient and provider, capturing and sending data from monitoring devices, and/or incorporating data and images into EMRs.  Reasons for using telehealth include improved access to healthcare for patients in remote locations; cost effectiveness; and patient demand.

The global patient monitoring and telehealth market has continued its expansion in both the institutional and home segments of the health market with the United States and many European countries at the forefront of implementation.  Market numbers discussed in this report are focused on the global patient monitoring and telehealth market with special market coverage of the specific regions and countries.