Press release
Elderly Monitoring Market Poised for Growth Amid Increasing Emphasis On Health And Wellness Awareness: A Key Factor Shaping the Future of the Elderly Monitors Market in 2025
Elderly Monitoring Market
The elderly monitors market will grow from $3.78 billion in 2024 to $4.2 billion in 2025, at a CAGR of 11.1%. This growth is attributed to the rising geriatric population, increasing healthcare costs, the demand for independent living, and growing awareness of elderly care.
The elderly monitors market is expected to grow to $6.45 billion by 2029 at a CAGR of 11.3%, driven by advancements in assistive devices, life expectancy, and IoT adoption. Trends include smart aging systems, personalized care, and wearable integration for remote patient monitoring.
What Are the Main Catalysts for Growth in the Elderly Monitors Market?
The rising awareness of health and wellness is set to propel the growth of the elderly monitoring market. Elderly monitoring systems track health metrics, daily activities, and safety parameters to improve the well-being of older adults. As health and wellness awareness grows, especially in countries with aging populations, such as the UK, where healthcare expenditure reached $354.88 billion in 2022, the demand for elderly monitoring solutions is expected to rise.
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Which Businesses Are at the Forefront of Elderly Monitors Market Development?
Major companies operating in the elderly monitors market report are Robert Bosch GmbH, Abbott Laboratories, Medtronic Plc, Koninklije Philips N.V., Boston Scientific Corporation, ADT Inc., Resideo Technologies Inc., Clariane SE, BIOTRONIK SE & Co. KG, Omron Healthcare Co. Ltd., Arlo Technologies Inc., Lifeline Systems Inc., GreatCall Inc., Connect America.com LLC, Life Alert Emergency Response Inc., SHL Telemedicine Ltd., Medical Guardian LLC, Shenzhen Reolink Technology Co. Ltd., Digital Care Systems Limited, MobileHelp LLC, Canary Systems Ltd., Bay Alarm Medical, Care Innovations LLC, Alertone Services LLC, QMedic, Eldercare Services Inc., ProVita International Medical Centre Ltd., Shenzhen Wansview technology Co. Ltd.
How Is the Elderly Monitors Market Segmented?
The elderly monitors market covered in this report is segmented -
1) By Product: Personal Emergency Response Systems (PERS), Smart Home Systems, Medical Alert Systems, GPS Tracking Devices, Wearable Devices
2) By Technology: Home Tele-Health, Safety Monitoring
3) By Application: Fall Prevention and Detection, Health Monitoring, Memory Aid, Movement and Mobility Monitoring, Safety and Security Monitoring
4) By End-User: Home-based Care, Assisted Living Facilities, Nursing Homes and Hospitals, Personal Use
Subsegments:
1) By Personal Emergency Response Systems (PERS): Landline-Based PERS, Mobile PERS, Wearable PERS, Smartphone App-Based PERS
2) By Smart Home Systems: Smart lighting, Smart Thermostats, Smart Security Systems, Voice-Activated Assistants
3) By Medical Alert Systems: Emergency Button Systems, Fall Detection Systems, Medication Reminder Systems
4) By GPS Tracking Devices: Wearable GPS Trackers, Mobile Phone-Based GPS Trackers, In-Home GPS Tracking Systems
5) By Wearable Devices: Fitness Trackers, Smartwatches, Health Monitoring Patches, Biosensors
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Where Is the Elderly Monitors Market Growth Most Prominent?
North America was the largest region in the elderly monitors market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the elderly monitors market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Is Covered In The Elderly Monitors Global Market Report?
- Market Size Analysis: Analyze the Elderly Monitors Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Elderly Monitors Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Elderly Monitors Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Elderly Monitors Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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