The global Telecare Market size is expected to reach USD 6.3 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 5.7% from 2022 to 2030. Telecare provides services mainly to the vulnerable and geriatric people for immediate contact with someone for help in case of any emergency. In addition, the increasing development of new technology from telephones to online virtual visits has shaped the face of modern health care services. Moreover, the growing adoption of digital health services to extend patients' access to care, remotely monitor risks, health conditions, or any early warning signs is anticipated to fuel market growth over forecast years.
The activity monitoring segment dominated the type
segment with a revenue share of 51.3% in 2021. This revenue share of the
segment is attributed due to the growing adoption of telecare services for
remote activity monitoring and assisting the elderly. The increasing number of
geriatric population and growing preference to adopt smart remote assistants or
personal alarms to monitor unusual behavior patterns or any warning signs of
falls for the elderly are among the major factors anticipated to drive the
segment growth over the forecast years. In addition, a growing number of
telecare centers monitoring the social and lifestyle activity of a physically
disabled or elderly individual 24/7 and providing appropriate help such as
remote medical assistance is further supporting the growth of the market.
North America accounted for the highest revenue share
of 50.5% by region in 2021 owing to the growing adoption of new technology and
increasing penetration of the internet. In addition, the rising geriatric
population in the U.S and increasing adoption of digital health care
platforms for daily activity tracking and remote medication management for the
elderly is anticipated to drive the market in this region over the forecast
period. Furthermore, the presence of a larger number of telecare service
providers further fuels market growth in this region.
Furthermore, the COVID-19 pandemic upsurge the
adoption of digital health platforms including telecare. The increasing fear of
life-threatening coronavirus infection in 2020 increases the adoption of remote
patient monitoring and activity tracking platforms. Increasing promotion for
remote patient monitoring using mobile technology by the government
organizations for digital health management and the increasing use of mobile
applications are among the major factors that further boosted telecare adoption
in 2020. For instance, as per world economic forum data, there is a growth of
46% of the health and fitness app download during pandemic which thereby
supported to market growth in 2020.
Related Press Release@ Telecare Market Report
Telecare Market Report Highlights
- The market size is anticipated to be valued at USD 6.3billion by
2030, owing to an increasing elderly population and growing preference for
digital health services to extend patients access to care, remotely
monitor risks, and health conditions
- The activity monitoring segment dominated the market in 2021, owing
to the growing adoption of telecare services for remote activity
monitoring and providing assistance to the elderly
- North America dominated the market and accounted for the largest
revenue share of 50.5% in 2021, owing to the rising geriatric population
in the U.S and increasing adoption of telecare platforms for daily
activity tracking and remote medication management for elderly
Grand View Research, Inc. is a U.S. based market research and consulting company, registered in the State of California and headquartered in San Francisco. The company provides syndicated research reports, customized research reports, and consulting services. To help clients make informed business decisions, the company offers market intelligence studies ensuring relevant and fact-based research across a range of industries including technology, chemicals, materials, healthcare and energy.
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