SOURCE: Radiant Insights, Inc.

Radiant Insights, Inc.

March 09, 2016 08:30 ET

Key Trends Driving Tele-Care Medical Equipment Market Research Report, 2019: Radiant Insights, Inc.

SAN FRANCISCO, CA--(Marketwired - Mar 9, 2016) - Tele-care is the use of information and communication technology to offer health-related support, assistance and care from a remote location. It is done by constant and automatic monitoring of users through sensors. This enables minimization of mishaps like a fall. Tele-care also sends alerts in case of floods, gas leaks and other real-time emergencies.

The biggest advantage of tele-care medical equipment is that it protects users' health while allowing them to continue staying in a familiar, comfortable environment i.e. their homes. It vastly improves management and treatment of chronic illnesses. Vital statistics of patients are monitored at their homes, similar to when they get admitted in a healthcare facility.

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Such remote care leads to considerable savings in costs, facilitating affordable healthcare. Rising demand for remote patient monitoring systems, and affordable, timely care services are the key drivers of global tele-care medical equipment market.

Technological developments (e.g. mobile phones) also further market growth. Today's world is characterized by an aging population and growing incidence of chronic health conditions requiring long-term and constant care. Favorable reimbursement policies supported by various government initiatives are also having a positive impact on demand.

It is expected that tele-care services will make it easier to link patients with doctors who are experts in the treatment of a particular condition. Tele-care medical equipment has the potential to offer wellness programs and interventional medicine. This could contribute to prevention or delay the onset of chronic diseases like diabetes and cardiovascular ailments, thereby reducing the global health burden.

Tele-care services will be especially helpful in remote places where sufficient, trained healthcare professionals are lacking. However, factors like ethical issues, delayed responses, and incomplete consideration could restrain growth.

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The market may be categorized on the basis of services and regions. Services include tele-monitoring, tele-consultation, tele-training, tele-surgery, tele-care, and tele-education. Regional segmentation comprises North America, Europe, Latin America, and APAC (Asia-Pacific and China). North America is an important regional market. Europe follows North America and accounts for a sizeable portion of the global revenues. APAC would grow at the highest rate owing to burgeoning populations and booming economies of China and India.

Leading market players include Robert Bosch GmbH, GE Healthcare, GlobalMedia Group LLC, and Honeywell HomeMed. Product development and consolidation by way of mergers, acquisitions, collaborations, and partnerships are the common competitive strategies adopted.

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