Elderly Monitors Global Market Report 2024: Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company’s Elderly Monitors Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UK, June 26, 2024 /EINPresswire.com/ -- The elderly monitors market has experienced robust growth in recent years, expanding from $3.41 billion in 2023 to $3.74 billion in 2024 at a compound annual growth rate (CAGR) of 9.7%. The growth in the historic period can be attributed to growing geriatric population, rising healthcare costs, increased focus on independent living, rising demand for cost-effective healthcare services, growing awareness regarding elderly care.

Strong Future Growth Anticipated
The elderly monitors market is projected to continue its strong growth, reaching $5.48 billion in 2028 at a compound annual growth rate (CAGR) of 10.1%. The growth in the forecast period can be attributed to advancements in assistive devices and technology, increased life expectancy, integration of AI and machine learning, rise of the internet of things, preference for better lifestyle and healthcare services.

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Growth driver of the elderly monitors market
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

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Major Players and Market Trends
Key players in the elderly monitors market include 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.

Major companies operating in the elderly monitor market are developing innovative technological products such as medical radar devices that monitor older adults through walls for better outcomes. A medical radar device is a type of radar technology used for medical imaging and monitoring. It operates by emitting radio waves, receiving their reflection, and using this information to generate data. Radar-based imaging can be used for preventive screening and early detection of diseases such as breast cancer and stroke.

Segments:
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

Geographical Insights: North America Leading the Market
North America was the largest region in the elderly monitors market in 2023. Asia-Pacific is expected to be the fastest-growing region during the forecast period, driven by expanding healthcare facilities and increasing awareness of the benefits of elderly monitors.

Elderly Monitors Market Definition
Elderly monitors refer to devices or systems designed to monitor the well-being and health status of elderly individuals, especially those who may be living independently or in assisted living environments. The monitoring solutions leverage various technologies to track and gather data related to the elderly person's activities, health metrics, and overall safety.

Elderly Monitors Global Market Report 2024 from TBRC covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Elderly Monitors Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on elderly monitors market size, elderly monitors market drivers and trends, elderly monitors market major players, competitors' revenues, market positioning, and market growth across geographies. The elderly monitors market report helps you gain in-depth insights on opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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