This Remote Electrocardiogram Monitoring market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Remote Electrocardiogram Monitoring market.
Telemedicine is using Information Technology and telecommunications to provide medical assistance from a distance. It became especially widespread in the 20th century due to advances in both these fields. It helps to eliminate distance barriers and provide medical aid to distant & far-flung rural areas that would be inaccessible otherwise. The stress of a modern-day fast-paced lifestyle has led to many cases of hypertension, diabetes, heart attacks and various other diseases. That is why the remote electrocardiogram monitoring market has become increasingly important. As per data from the American Health Association (AHA), arrhythmia affects more than 4 million people and causes nearly half a million deaths in the U.S. alone. ECG instruments are the best way to detect & measure arrhythmia. Remote electrocardiogram devices are becoming commonplace for monitoring a patient’s heart condition. Recently, they have been applied for various heart diseases since the quality & transmission through telecommunications has improved substantially. There are three main components of a remote electrocardiogram monitoring machine – the patient, the doctor, and the remote server.
Remote Electrocardiogram Monitoring Market Drivers
One of the key drivers of the remote electrocardiogram monitoring market is the ageing population in western countries. People there have a strong sense of individuality & prefer living independently in their own homes. Remote electrocardiogram monitoring devices could help doctors provide them prompt medical attention. It saves the doctor’s time along with the need for patients to take a medical appointment unless their condition is very serious. It is also much more cost-effective than hiring a nurse to visit the individual from time to time. A second factor responsible for growth is improving Internet connectivity in rural areas. Telecommunication technology has progressed by leaps and bounds in the last 30 years and it is now quite easy for a doctor to provide medical aid to patients living in remote villages, which might be both underpenetrated & unserved. A remote electrocardiogram could be used to monitor patients with pacemakers there & the central control unit is able to correctly diagnose an arrhythmia. Electronic stethoscopes can also be used as recording devices, which can be vital in the area of telecardiology. There have been many successful cases of this worldwide already. These are the main drivers of the remote electrocardiogram monitoring market.
Remote Electrocardiogram Monitoring Market Restraints
There are several challenges present in the remote electrocardiogram monitoring market with a major one being unreliable connectivity. We have all faced the problem of a slow Internet connection, no cell phone network, too much line disturbance or rolling blackouts at some point in time. This can pose a serious problem to medical practitioners when they are checking their patients. Losing connectivity midway would cause great inconvenience to both parties. A second issue could be resistance to change. People might either be unaware of such medical aid or be hesitant to go in for it in the first place. There could also be resistance from hospital staff because they may not be trained to use it. The IT department of any organisation is frequently overloaded and even they might stall the adoption of this equipment since it will be added responsibility which they may be unable or unwilling to shoulder. There could also a question of who will provide the funding, especially in developing nations where government reimbursement is hard to come by.
Remote Electrocardiogram Monitoring Market Key Regions
North America is the largest remote electrocardiogram monitoring market & is expected to remain so in the near future. This is due to a high prevalence of arrhythmia, hypertension and diabetes there along with awareness of these ailments & enhanced medical care. The geriatric populations of Europe, China, Japan and Korea will also ensure a steady demand for the remote electrocardiogram monitoring market there.
Remote Electrocardiogram Monitoring Market Key Market Players
Some companies in the remote electrocardiogram monitoring market are Huntleigh Diagnostics, Intelesens, iRhythm Technologies, GE Healthcare, MD Biomedical, Kalamed, Labtech, and Life Watch & Jiangsu Konsung Medical Equipment.
The research report presents a comprehensive assessment of the market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to market segments such as geographies, types and applications.
The report covers exhaustive analysis on:
- Market Segments
- Market Dynamics
- Market Size
- Supply & Demand
- Current Trends/Issues/Challenges
- Competition & Companies involved
- Value Chain
Regional analysis includes:
- North America (U.S., Canada)
- Latin America (Mexico. Brazil)
- Western Europe (Germany, Italy, France, U.K, Spain)
- Eastern Europe (Poland, Russia)
- Asia Pacific (China, India, ASEAN, Australia & New Zealand)
- Middle East and Africa (GCC, S. Africa, N. Africa)
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
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Remote Electrocardiogram Monitoring Market
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How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.