Elderly monitors market Exhibit a Remarkable CAGR 9.5% Size, Share, Trends, Key Drivers, Demand, Opportunity Analysis and Competitive Outlook

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% from 2023 to 2030. 

Market Overview

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.

Explore Further Details about This Research Elderly Monitors Market Report https://www.databridgemarketresearch.com/reports/global-elderly-monitors-market

Elderly Monitors Market Dynamics

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.

Opportunities

Technological advancements

An increase in technological advancement, including the development of robots capable of assisting elderly people with day-to-day operations, is expected to boost market growth. Furthermore, various government organizations are assisting this industry, which is fuelling market growth. In Australia, for example, the government funds an Aged Care Approval Round (ACAR) and similar other programmes to assist service providers with grants or to build their facilities. Furthermore, as a result of the Covid 19 pandemic, the government plans to provide a $52.9 million package to residential aged care (RAC), National Aboriginal and Torres Strait Islander (NATSI), and Home Care providers over the next two years.

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.)

Key Offerings:

Past Market Size and Competitive Landscape (2018 to 2022)
Past Pricing and price curve by region (2018 to 2022)
Market Size, Share, Size & Forecast by different segment | 2023-2029
Elderly Monitors Market Dynamics - Growth Drivers, Restraints, Opportunities, and Key Trends by Region
Market Segmentation - A detailed analysis by segment with their sub-segments and Region
Competitive Landscape - Profiles of selected key players by region from a strategic perspective
Competitive landscape - Market Leaders, Market Followers, Regional player
Competitive benchmarking of key players by region
PESTLE Analysis
PORTER's analysis
Value chain and supply chain analysis
Legal Aspects of Business by Region
Lucrative business opportunities with SWOT analysis
Recommendations

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