Tech-Driven Healthcare for Seniors: Ambient Assisted Living Solutions on the Rise 2023-2028 - ResearchAndMarkets.com

DUBLIN--(BUSINESS WIRE)--The "Ambient Assisted Living (AAL) Market - Growth, Trends, COVID-19 Impact, and Forecasts (2023 - 2028)" report has been added to ResearchAndMarkets.com's offering.

The global ambient assisted living (AAL) market is poised for remarkable growth, projected to register a robust CAGR of 21.6% over the next five years, according to recent market research.

Combining the power of smart homes with advanced support systems, AAL offers assistance and care to elderly and differently-abled individuals, empowering them to lead independent lives.

With an aging global population, there is an increasing need for continuous monitoring and medical aid for the elderly. The United Nations predicts a substantial threefold increase in the number of people over 80 worldwide, surging from 137 million in 2017 to 425 million by 2050. Regions like North America and Europe are witnessing a higher proportion of elderly citizens relative to their total populations, further driving the demand for AAL solutions.

As life expectancy at birth continues to rise, reaching a projected 74.4 years by 2022 from 73.3 years in 2017, individuals are increasingly adopting healthier lifestyles and monitoring their health more closely. This shift in behavior is leading to a surge in demand for ambient assisted living solutions.

The rise of the Internet of Things (IoT) has also played a significant role in the popularity of AAL services, such as telehealth, telecare, telemedicine, telecoaching, and mHealth. Healthcare providers are embracing digital health tools, making healthcare services more efficient and accessible, particularly for the elderly population.

Advancements in technology have led to reduced costs of AAL services, making them more affordable and accessible to a broader audience. The implementation of telemedicine solutions has seen significant growth, especially following the outbreak of COVID-19, facilitating remote healthcare access for elderly individuals.

Ambient Assisted Living Market Trends

The increasing prevalence of chronic diseases among the elderly is a driving force behind the market's growth. As the number of elderly individuals rises, so does the susceptibility to chronic conditions like cardiovascular, musculoskeletal, and other diseases, creating a higher demand for AAL solutions.

The United States is anticipated to hold a substantial share in the global AAL market due to its rapidly growing aging population. Additionally, the integration of entertainment and transportation systems within AAL services is enhancing the overall user experience, further contributing to market growth.

The adoption of wearables and connected technology has led to the popularity of AAL services that offer fall support, emergency services, sample collection, and monitoring. Life-saving incidents, like the Centra Plus pendant alarm unit that saved an older woman from a house fire, demonstrate the significance of such services.

Ambient Assisted Living Industry Overview

The market for ambient assisted living is moderately fragmented, with significant vendors investing in research and development to gain a competitive edge. Innovation and the adoption of advanced technologies are essential strategies for vendors aiming to establish a foothold in the market. Key players in the industry are closely monitoring the developments to meet the evolving needs of the elderly population.

A selection of companies mentioned in this report includes

• Sensara BV
• 2PCS Solutions GmbH
• Alcove Limited
• Cogvis Software and Consulting GmbH
• Consequential Robotics Ltd
• Cerner Corporation
• YoooM
• Televic Group NV
• Assisted Living Technologies Inc.
• Doro AB

For more information about this report visit https://www.researchandmarkets.com/r/irxwmo

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