Study Period | 2020-2032 | CAGR | 7.3% |
Historical Period | 2020-2022 | Forecast Period | 2024-2032 |
Base Year | 2023 | Base Year Market Size | USD XX Billion |
Forecast Year | 2032 | Forecast Year Market Size | USD XX Billion |
Largest Market | Europe | Fastest Growing Market | North America |
Remote healthcare services are briefly segmented into three categories namely telehealth, telemedicine, and telecare and the major common factor is in aspects of telecommunications and technology. However, the main factor of differentiation are the service applications, infrastructure, and technical standards.
Telecare, in general, refers to the devices namely detectors offering automatic and continuous remote monitoring for care needs in case of emergencies that impose a high risk of injury or death. Some of the major emergencies served by this technology are namely;
The global scenario of the population is now observed to be moving towards an era with more of a geriatric population than that of the young population. According to the World Health Organization (WHO), the number of geriatric population (aged 65 years and above) is projected to grow to an approx. of 1.5 billion by 2050. Additionally, this growth will be majorly witnessed by developing countries.
Upcoming of such a circumstance is accompanied by several questions such as will population ageing be accompanied by a longer period of good health? How will ageing change the trends in healthcare and associated costs? How will technology play its role to tackle the circumstances of emergencies?
These questions have placed the geriatric population in focus eventually leading to the evolution and high adaption of technologies such as telecare and also playing a vital role in the development of care policies as they heavily contribute to the conditions of the possibility of living as an older person.
In addition to this, there are several technological trends that are uplifting the telecare market on international grounds. Some of these trends are briefly explained below:
Geographically, the telecare market is studied across regions such as North America, Europe, Asia Pacific, and LAMEA
As per our analysis, it is observed that Europe holds a considerable share in the telecare market when compared to other regions on account of the regulatory frameworks and policies that promote the adaption of such technologies and also the required infrastructure. additionally, European countries such as Germany, U.K, Poland, Italy, and Switzerland are actively acknowledging digital health practices thereby making them potential markets for telecare.
Let us consider Germany which has a sound medical infrastructure and also policies favoring healthcare services and equipment. For instance, the health insurance in this country which is a vital component of the healthcare structure brings in an array of opportunities for the telecare market to grow as it promotes adoption. The points mentioned below helps to understand Germany’s healthcare & insurance sector and also depicts its contribution to telecare market:
Report Metric | Details |
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Company Profiles | ASB, Caritas, GreatCall, Guardian Alarm, Koninklijke Philips N.V, Legrand Assisted Living & Healthcare, NEAT Group, TeleAlarm, Tunstall Healthcare Group Ltd, Medtronic PLC, Cisco Systems, Honeywell Life Care Solutions, Cerner Corporation, Medvivo Group Ltd., Intouch Health. |
Geographies Covered | |
North America | U.S. Canada |
Europe | U.K. Germany France Spain Italy Russia Nordic Benelux Rest of Europe |
APAC | China Korea Japan India Australia Taiwan South East Asia Rest of Asia-Pacific |
Middle East and Africa | UAE Turkey Saudi Arabia South Africa Egypt Nigeria Rest of MEA |
LATAM | Brazil Mexico Argentina Chile Colombia Rest of LATAM |
Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, Environment & Regulatory Landscape and Trends |
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