VANCOUVER, BC--(Marketwired - December 21, 2016) - According to a new series of reports on the U.S. patient monitoring device market by iData Research (www.idataresearch.com), the telehealth monitoring market has grown tremendously in recent years fueled by increasing awareness of the benefits of remote monitoring and home healthcare. Market growth is heavily driven by telehealth monitoring for disease management. Currently, the U.S. boasts the most mature telehealth in the world as well as a diverse competitive landscape, attributable to a trend towards reimbursement reform and successes of large-scale deployment initiatives.
"While Medicare still only covers a select subset of telehealth services, most notably face-to-face teleconsultations, state regulated Medicaid and private insurance providers have begun to offer more comprehensive coverage for remote patient monitoring and managed care programs," explains Dr. Kamran Zamanian, CEO of iData. "Consistent progress towards payment reform and the expansion of telehealth programs across the U.S. will present favorable circumstances for the adoption of remote monitoring solutions."
Moreover, the Veteran's Health Administration's (VHA) Care Coordination and Home Telehealth (CCHT) program, America's largest purveyor of home telehealth, continues to rapidly expand the size of its remote patient monitoring (RPM) programs and funding. Both public and private organizations will continue to budget more funds for telehealth expenditure as the industry transitions towards outcome based reimbursement, and looks to achieve greater care coordination and improved patient outcomes.
The leading competitor in the telehealth market is Medtronic due to their share in the disease conditions management segment. Medtronic also has a strong presence in the telehealth market for CIEDs. Their ongoing partnership with the VHA programs has fortified their position as market leader within the total telehealth market. Medtronic has been recognized as a player in the disease conditions management telehealth market with their integrated MiniMed® series of diabetes management peripherals.
Honeywell Life Sciences is the second leading competitor in the U.S. telehealth market. Honeywell continues to take a platform approach geared towards expanding their services and product offerings, with a uniform software platform to facilitate patient transitions between products. While Honeywell remains a dominant figure in telehealth monitoring for chronic disease management, they have fallen to second in that segment as a result of Medtronic's successful VHA partnership over the last four years. Additional competitors in the U.S. telehealth market include St. Jude Medical, Philips Healthcare, Boston Scientific, Biotronik and Bosch Healthcare among others.
For Further Information
More on the telehealth market in the U.S. can be found in a report series published by iData Research entitled the US Market Report Suite for Patient Monitoring Equipment 2017 - MedSuite. The suite covers reports on the following markets with over 60 segments and sub-segments including: multi-parameter vital signs monitoring, wireless ambulatory telemetry monitoring, telehealth, intracranial pressure monitoring, electromyogram monitoring, cerebral oximetry, fetal and neonatal monitoring, cerebral oximetry, cardiac output monitoring and blood pressure monitoring.
The iData report series on patient monitoring covers the U.S. Japan, South Korea, Australia and 15 countries in Europe including Germany, France, the United Kingdom (U.K.), Italy, Spain, Benelux (Belgium, Netherlands and Luxemburg), Scandinavia (Finland, Denmark, Sweden and Norway), Portugal, Austria and Switzerland. Reports provide a comprehensive analysis including units sold, procedure numbers, market value, forecasts, as well as detailed competitive market shares and analysis of major players' success strategies in each market and segment. To find out more about patient monitoring market data or procedure data, register online or email us at firstname.lastname@example.org for a US Market Report Suite for Patient Monitoring Equipment 2017 - MedSuite brochure and synopsis.
About iData Research
iData Research (www.idataresearch.com) is an international market research and consulting group focused on providing market intelligence for medical device and pharmaceutical companies. iData covers research in: Operating Room Equipment, Surgical Microscopes, Robotics and Surgical Navigation, Laparoscopy, Urology, Gynecology, Vascular Access, Endoscopy, Interventional Cardiology, Cardiac Surgery, Cardiac Rhythm Management, Electrophysiology, Ultrasound, X-Ray Imaging, Diagnostic Imaging, Oncology, Spinal Implants and VCF, Spinal MIS, Orthopedic Soft Tissue Repair and Regeneration, Orthopedic Trauma, Large & Small Joints, Anesthesiology, Wound Management, Orthopedics, Ophthalmics, Dental Operatory Equipment and more.