What is Telecare Devices Market?
The key factors such as the Increased Number of Vulnerable and Socially Isolated People and Increased Prevalence of Chronic Diseases such as Hypertension, Diabetes and Others are driving the global telecare device market. In addition, technological advancements in telecare devices boosting the market growth. Telecare devices provide continuous, automatic and remote monitoring of real-time emergencies and lifestyle changes over time in order to manage the risks associated with independent living. The ongoing COVID-19 pandemic has been profound on domiciliary and care home service delivery with numerous areas embracing technological advances, including telecare, at a faster pace. Telecare devices are useful for patients with chronic diseases, such as heart conditions, chronic asthma, hypertension, Chronic Obstructive Pulmonary Disease (COPD), diabetes, or epilepsy and may also be used alongside video consultations with a primary care staff or other specialists.
The market study is being classified by Type (Epileptic Seizure Alarms, Heat/Temperature Sensors, Incontinence Sensors, Medication Dispensers and Reminders, Glucose Meter and Others) and major geographies with country level break-up.
Navigil Oy (Finland), Ascom Holding AG (Switzerland), Climax Technology (Taiwan), Legrand (France), NXT-ID Inc (United States), Philips (Netherlands), Tunstall Healthcare (United Kingdom), American Well (United States) and Carematix (United States) are some of the key players profiled in the study.
There are various companies that are operating in the new geographical regions by adopting various market growth initiatives such as mergers & acquisitions, expansions, investments, and others. There are various new market players are entering the market to capture market growth opportunities. Research Analyst at AMA predicts that United States Players will contribute to the maximum growth of Global Telecare Devices market throughout the predicted period.
Segment Analysis
Analyst at AMA have segmented the market study of Global Telecare Devices market by Type, Application and Region.
On the basis of geography, the market of Telecare Devices has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Market Drivers
- Increased Number of Vulnerable and Socially Isolated People
- Increased Prevalence of Chronic Diseases such as Hypertension, Diabetes and Others
- Huge Investments by Major Players
- Robust Increase in the Distribution Channels
Market Trend
- Advanced Assistive Technology in Telecare Devices
- Increasing Popularity of Smart Homes
Restraints
- Limitations Associated with Telecare Devices
- Less Awareness about Telecare Devices in Underdeveloped Countries
Opportunities
- Growing Number of Geriatric Population Worldwideide
- Growth in the Healthcare Sector Around the World
- Increased Research and Development Activities
Challenges
- Lack of Infrastructure for Telecare in Some Regions
Key Target Audience
Telecare Device Manufacturers, Raw Material Suppliers, Distributors, Emerging Companies, Research Professionals and End-users