SOURCE: iData Research

iData Research

June 20, 2016 14:12 ET

Medtronic, Tunstall Healthcare Lead Rapidly Growing European Telehealth Patient Monitoring Market

The Growing Market for Telehealth Was Valued at Over EUR 319 Million Which Includes Remote Monitoring of Patients With Chronic Conditions and Individuals With Cardiac Implantable Electronic Devices

VANCOUVER, BC--(Marketwired - June 20, 2016) - According to a new series of reports on the European patient monitoring 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 care. The European market growth is heavily driven by telehealth monitoring for disease management. Results of past studies, such as the Whole System Demonstrator (WSD) program in the United Kingdom, have served to provide strong evidence for the benefits of telehealth monitoring in patients with chronic conditions such as chronic obstructive pulmonary disease (COPD), chronic heart failure and diabetes.

Currently, the U.K. and Switzerland boast the most mature telehealth markets as well as a diverse competitive landscape, attributable to reimbursement implementation and deployment following successful pilot studies. In terms of future growth, regions with high healthcare spending per capita, such as Scandinavia, and large rural populations also stand as fertile prospects. Furthermore, since many private insurers offer some form of complimentary telemedicine coverage, countries having a greater proportion of privately insured citizens, such as France, Benelux and Germany, may experience expanded market growth. By 2022, the telehealth market for disease conditions management is expected to be valued at nearly EUR 549 million.

"The market for telehealth monitoring of chronic conditions is growing rapidly, driven by cost avoidance initiatives such as leasing equipment and containment models by health agencies to increase provision and adoption of home and remote telehealth services throughout Europe," explains Dr. Kamran Zamanian, CEO of iData. "Leasing programs are an attractive option for smaller or more remote facilities that do not have in-house services that can accommodate additional networks, servers and provide secure wireless access to their care providers."

In recent years, there has been a shift towards the leasing model for telehealth equipment. The fastest growing markets include Germany, France and the United Kingdom. Other regions primed to experience substantial growth include Scandinavia and Italy, both of which have experience with integrated care platforms, hindered largely by physician uptake. Spain also stands as a promising prospect through its acceptance of various eHealth solutions and the regional successes of past telehealth pilots. Recent progress towards payment reform and the expansion of pilot projects across Europe will present favorable circumstances for the adoption of remote monitoring solutions over the forecast period.

The leading competitor in the European telehealth market is Medtronic. Medtronic acquired Cardiocom in 2013, a leading competitor in the telehealth for disease conditions management segment. Medtronic remained the overall leader as a result of their strong business in the telehealth market for cardiac implantable electronic devices (CIED). Medtronic's new Reveal LINQ™ implantable cardiac monitor and associated MyCareLink™ remote patient monitor have also seen success following its launch in western Europe and continues to bolster their presence within the CIED market.

Tunstall Healthcare is the second leading competitor in the overall telehealth market. This U.K.-based company has 50 years of experience in the telemedicine market. Their acquisition of RTX in 2008 strengthened their position in the telehealth market and helped them expand across Europe. Tunstall's telehealth solution is a complete system which includes the mymedicII™ personal or myclinic™ multi-user telehealth monitors, software and peripheral devices such as blood pressure cuffs, pulse oximeters, temperature probes, glucometers, coagulation meters and 1-lead ECGs. The rapid growth of the disease conditions management segment has enabled Tunstall to increase their stake in the overall telehealth market. The acquisition of Televida in 2013 has also helped Tunstall to reaffirm their position as a market leader in Europe, particularly by expanding their presence in Spain. Additional competitors in the European telehealth market include Biotronik, Philips Healthcare, St. Jude Medical, Boston Scientific, Docobo Ltd, Aerotel Medical Systems, Sorin (LivaNova), and BodyTel among others.

For Further Information

More on the telehealth market in Europe can be found in a series of reports published by iData Research entitled the European Market Report Suite for Patient Monitoring Equipment. The suite covers reports on the following markets: Wireless Ambulatory Telemetry Monitors, Telehealth, Peripheral Pulse Oximeters, Fetal and Neonatal Monitoring, Electroencephalogram Monitoring, Electromyogram Monitoring, Cardiac Output Monitoring, and Multi-Parameter Vital Signs Monitoring.

The iData report series on patient monitoring equipment covers 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 info@idataresearch.net for a European Market Report Suite for Patient Monitoring Equipment 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.

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