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Tele-Care Medical Equipment Market Expected to Witness a Sustainable Growth over 2021
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Based on service type, the tele-care medical equipment market can be segmented into tele-consultation, tele-monitoring, tele-education, tele-training, tele-care, and tele-surgery. The tele-care segment includes heart failure telemonitoring, diabetes remote monitoring, home-based care, blood pressure home monitoring, and mobile health clinics. Major advantages of tele-care medical equipment include remote healthcare monitoring, which allows patients to avoid hospital stay, and reduction in hospital visits for routine check-ups. Moreover, these equipment allow patients to self manage.
North America has the largest market for tele-care medical equipment due to innovations, technological advancements, improved healthcare infrastructure, government funds, and increasing use of remote service delivery in this region. North America is followed by Europe. Asia is expected to witness high growth rate in the tele-care medical equipment market in the next few years due to rise in need for time- and cost-effective service delivery and increasing incidences of chronic diseases.
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Technological advancements, cost- and time-effective service delivery, increasing aging population, government initiatives , adoption of remote service delivery, and rise in the incidences of chronic diseases are some of the major factors that are expected to drive the market for tele-care medical equipment . In addition, need for advanced treatment of chronic diseases, favorable reimbursement policies, and need for home patient monitoring systems are expected to drive the market for tele-care medical equipment. However, inadequate and incomplete consideration being reported by some patients and physicians, ethical issues and delayed response by some forms create negative impact on overall industry.
Growing population and economies in the developing countries such as India and China is expected to drive growth of the tele-care medical equipment market in Asia. In addition, technological advancements, increasing use of mobile telecommunication technology, growing awareness regarding tele-care medical equipment, and rise in demand for home patient monitoring systems are expected to create new opportunities for the global tele-care medical equipment market. Increasing number of mergers and acquisitions, rise in the number of collaborations and partnerships, and new product launches are some of the latest trends that have been observed in global tele-care medical equipment market .
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Some of the major companies operating in the global tele-care medical equipment market are GlobalMedia Group, LLC., Robert Bosch GmbH, AMD Global Telemedicine, Inc., GE Healthcare, Honeywell HomeMed, and Bayer HealthCare AG. Some other companies operating in the global tele-care medical equipment market are IBM Watson, Accenture, Telesofia Medical, Ltd., Boehringer Ingelheim GmbH, and Eliza Corporation.
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