Global Elderly Monitors Market By Technology (Home Tele-Health, Safety Monitoring), End-User (Hospitals & Nursing Homes, Home Care Organizations, Patients & Families), Geography (North America, Europe, Asia-Pacific, South America, Middle East and Africa) – Industry Trends and Forecast to 2026
Market Analysis: Global Elderly Monitors Market
Global elderly monitors market is expected to register a substantial CAGR in the forecast period of 2019-2026. The report contains data from the base year of 2018 and the historic year of 2017. This rise in market value can be attributed to the significant rise in the volumes of geriatric population worldwide.
Market Definition: Global Elderly Monitors Market
Elderly monitors are medical devices that are used for constant monitoring of patients belonging to geriatric population/elderly patients. These monitors provide consistent and accurate information regarding the status of patients, their healthcare needs and help in reducing the utilization of resources in order to deliver high quality of health care.
- Increasing focus on development of smart medical devices and enhanced technologies; this factor is expected to propel the growth of the market
- Requirement of cost-effective healthcare services to meet the declining volume of healthcare staffs and increasing patients worldwide; this factor is expected to drive the growth of the market
- Availability of remote monitoring services for patients suffering from long-term chronic disorders; this factor is expected to boost the growth of the market
- Growing shortage of healthcare professionals also drives the growth of this market in the forecast period
- Presence of stringent regulations and significant framework present for the approval and commercialization of these medical devices is the major factor restricting the market growth
- High cost of such technologies acts as a restricting factor for this market growth
Segmentation: Global Elderly Monitors Market
- Home Tele-Health
- Safety Monitoring
- Hospitals & Nursing Homes
- Home Care Organizations
- Patients & Families
- North America
- Rest of Europe
- South Korea
- Rest of Asia-Pacific
- South America
- Rest of South America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Key Developments in the Market:
- In June 2019, Best Buy announced that they had acquired Critical Signal Technologies along with their subscriber/customers utilizing their services. This acquisition also includes the valuable relationship already established with a number of different healthcare providers, payers and even housing establishments. This acquisition will help Best Buy enter into the “Medicare Advantage” industry
- In October 2018, Honeywell announced that they had concluded the spin-off for Resideo Technologies, Inc. which will began trading on the New York Stock Exchange. This deal will lead to both organizations having enhanced focus and commitment towards their core businesses. This will lead to better management of portfolios while having the capability to enhance it significantly.
Global elderly monitors market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of elderly monitors market for Global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.
Key Market Competitors:
Few of the major competitors currently working in the global elderly monitors market are Koninklije Philips N.V.; Wansview; Fall Prevention and Anti-Wandering; Resideo Technologies, Inc.; Care Innovations, LLC; Boston Scientific Corporation; Biotronik; Bosch Healthcare Solutions GmbH; Canary Systems Limited; Reolink Innovation Limited; ARLO; Abbott Care; Home Alarm & Security Systems in Canada; ALERTONE SERVICES LLC; Alive Technologies; Digital Care Systems; IDEAL LIFE INC.; SHL Telemedicine; OBS Medical Ltd. among others.
Research Methodology: Global Elderly Monitors Market
Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.
The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Demand Side: Doctors, Surgeons, Medical Consultants, Nurses, Hospital Buyers, Group Purchasing Organizations, Associations, Insurers, Medical Payers, Healthcare Authorities, Universities, Technological Writers, Scientists, Promoters, and Investors among others.
Supply Side: Product Managers, Marketing Managers, C-Level Executives, Distributors, Market Intelligence, and Regulatory Affairs Managers among others.
Reasons to Purchase this Report
- Current and future of global elderly monitors market outlook in the developed and emerging markets
- The segment that is expected to dominate the market as well as the segment which holds highest CAGR in the forecast period
- Regions/Countries that are expected to witness the fastest growth rates during the forecast period
- The latest developments, market shares, and strategies that are employed by the major market players
Customization of the Report:
- All segmentation provided above in this report is represented at country level
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)