LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global telecare devices market to post a CAGR of close to 9% during the forecast period, 2018-2022. Smart-living housing solutions is a key emerging trend that will impact market growth.
Smart-living housing solutions refer to housing concepts that are equipped with information and communication technology (ICT) associated with electrical appliances installed in residences. End-users of these housing solutions are working professionals that cannot stay with the elderly person of the family round the clock. Telecare devices can be integrated with better technologies such as IoT that will increase the accuracy of telecare devices in detecting disturbances in health conditions and fall experiences in end-users. Vendors such as Tynetec (Legrand), Tunstall, and Phillips have already started implementing these smart connectivity solutions to provide upgraded telecare products to end-users.
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In this report, Technavio analysts highlight the increase in the availability of healthcare mobile applications as a key factor contributing to the growth of the global telecare devices market:
Increase in the availability of healthcare mobile applications
The integration of Internet with healthcare through the medium of IoT has given rise to the development of healthcare mobile applications. These healthcare mobile applications facilitate the measurement and diagnosis of different components of a human health care system. These applications facilitate in bridging the gap between the patients that are guided to rest at home and medical professionals that are at distant places. Operations of these healthcare mobile applications are dependent upon the external sensory devices or internal sensory components of electronic gadgets where these applications are installed. Telecare devices have become more prominent in the healthcare sector due to the evolution of healthcare mobile applications.
According to a senior analyst at Technavio, “Telecare devices such as pendants, watches, bed sensors, and sensory mats track the development of elderly patients that use these devices and provide data to the integrated mobile applications for monitoring purposes. Currently, there are thousands of Android and IOS applications such as ChronicCareIQ, Medisafe, and EverlyWell that are dedicated to the healthcare sector.”
These applications, when connected with devices, help family members in monitoring the health and movements of patients. Thus, these large number of mobile applications that create a favorable environment are expected to increase the demand for telecare devices and subsequently drive market growth during the forecast period.
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Global telecare devices market - segmentation and analysis
This market research report segments the global telecare devices market by product segments (wearable devices, furniture sensory devices, and environmental sensory devices) and by key regions (the Americas, APAC, and EMEA).
In 2017, the wearable devices segment accounted for 57% share of the global telecare devices market, followed by the furniture sensory devices and environment sensory devices. By 2022, the market share of the wearable devices segment is expected to increase further, while that of the furniture sensory devices segment will decrease.
Americas dominated the global telecare devices market with a market share of more than 41%, followed by EMEA and APAC. However, by 2022, the market share of the Americas and EMEA is expected to decrease while that of APAC will increase by close to 2%.
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