Elderly Monitors market is expected to reach USD 6.04 billion by 2030

An international and comprehensive Elderly Monitors market report has been comprised of a significant data along with future forecast and detailed analysis on a global and regional level. This industry analysis document also explains market definitions, classifications, applications, and engagements in the HEALTHCARE industry. Today’s businesses call for greatly focused, widespread and detail-oriented market information so that the idea about market landscape is absolutely clear. The study of Elderly Monitors market research report explains a market attractiveness analysis, wherein each segment is targeted based on its market size, growth rate, and general attractiveness.

Major factors expected to drive the growth of the elderly monitors market during the forecast period include increased focus on the advancement of smart medical devices and improved technologies. The demand for cost-effective healthcare services to meet the decreasing number of healthcare staffs, availability of remote monitoring services for patients suffering from long-term chronic disorders is expected to drive the growth of the elderly monitors market.

Data Bridge Market Research analyses that the elderly monitors market which was USD 2.92 billion in 2022, is expected to reach USD 6.04 billion by 2030, at a CAGR of 9.5% during the forecast period 2023 to 2030. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

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Elder care, also known as senior care, is specialized care designed to meet senior citizens’ needs and requirements at various stages of their lives. As a result, elderly care is a broad term that includes everything from assisted living and nursing care to adult day care, home care, and hospice care.

Drivers

• Growing awareness regarding elderly care

People’s awareness of home care, adult care, and other services will increase demand for the market. With the rapid increase in the elderly population, the demand for elderly care services and products will drive market growth.

• Increasing market trend towards elderly care services

The growing elderly population is expected to drive demand for elderly care services. The demand for care services has increased as the economy and social environment have changed. A growing elderly population places additional strain on the young generation to care for elderly family members while also working. As a result, there is an increased demand for elderly care services. Short-term services assist with daily basic activities, whereas long-term services focus on residential facilities. Long-term service necessitates medical attention and day-care. These are the certain reasons which help the market to grow.

Recent Developments

• In 2019, Best Buy announced that they had acquired Critical Signal Technologies and their subscribers/customers who used their services. This acquisition includes the valuable relationships that have already been established with a variety of healthcare providers, payers, and even housing establishments. This acquisition will enable Best Buy to enter the “Medicare Advantage” market.

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Some of the major players operating in the elderly monitors market are:

• Koninklije Philips N.V. (Netherlands)
• Wansview (China)
• Fall Prevention and Anti-Wandering (U.S.)
• Resideo Technologies Inc. (U.S.)
• Care Innovations, LLC. (U.S.)
• Boston Scientific Corporation (U.S.)
• BIOTRONIK SE & Co KG (Germany)
• Robert Bosch GmbH (Germany)
• Canary Systems (U.S.)
• Reolink (U.S.)
• Arlo (U.S.)
• Abbott (U.S.)
• ALERTONE SERVICES LLC (U.S.)
• Alive Technologies (Australia)
• Digital Care Systems (U.K.)
• SHL Telemedicine (U.S.)

Elderly Monitors Market Scope

Technology

• Home Tele-Health
• Safety Monitoring

 End User

• Hospitals and Nursing Homes
• Home Care Organizations
• Patients and Families

The report provides insights on the following pointers:

• Market Penetration: Comprehensive information on the product portfolios of the top players in the this market
• Product Development/Innovation: Detailed insights on upcoming technologies, R&D activities, and product launches in the market
• Competitive Assessment: In-depth assessment of the market strategies, and geographic and business segments of the leading players in the market
• Market Development: Comprehensive information about emerging markets. This report analyzes the market for various segments across geographies

Critical Insights Related to This Market Included in the Report:

• Exclusive graphics and Illustrative SWOT analysis of some of the leading companies in this market
• Value chain analysis of prominent players in the market
• Current trends influencing the dynamics of this market across various geographies
• Recent mergers, acquisitions, collaborations, and partnerships
• Revenue growth of this industry over the forecast period
• Marketing strategy study and growth trends
• Growth driven factor analysis
• Emerging recess segments and region-wise market
• An empirical evaluation of the curve of this market
• Ancient, Present, and Probable scope of the market from both prospect value and volume

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Elderly Monitors Market Regional Analysis/Insights

The elderly monitors market is analyzed and market size insights and trends are provided by country, technology and end user as referenced above.

The countries covered in the elderly monitors market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the elderly monitors market because of the increased incidence and prevalence of patients with lifestyle diseases. Furthermore, well-established reimbursement policies and an increase in customer purchasing power will drive the growth of the elderly monitors market in the region during the forecast period.

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