Technologies for Long-Term Care and Home Healthcare: Global Markets
The global market for elder-care technology products was approximately $2.7 billion in 2012. It is expected to grow to roughly $3.2 billion by 2013 and $7.2 billion by 2018 at a compound annual growth rate (CAGR) from 2013 to 2018 of 17.7%.
- An overview of the global market for long-term care and home healthcare technologies, with a focus on remote health-monitoring and safety-monitoring systems.
- Analyses of global market trends, with data from 2012, estimates for 2013, and projections of compound annual growth rates (CAGRs) through 2018.
- Discussion of how changing medical needs driven by an aging population, the necessity to cut costs in the delivery of care, and further adoption of technology and broadband connectivity by seniors will accelerate future demand for remote monitoring devices and home safety technology.
- Examination of the regulatory framework that controls the introduction of new remote monitoring devices in varied long-term-care settings.
- Ways to increase interoperability of consumer medical products.
This report is a business analysis with the primary purpose of examining the potential market for elder-care technologies, specifically home telehealth and safety monitoring. The report includes sections on:
- Descriptions of home telehealth and safety-monitoring technologies and drivers of their adoption.
- Current status of the long-term care environment, including trends and factors affecting growth.
- Current and projected market status of these technologies.
- General regulatory and standards overview.
- Patent trend analysis.
- Information on the industry players.
Andrew McWilliams spent more than 25 years as a consultant with Ernst & Young, McKinsey & Company and A.T. Kearny focused on manufacturing before segueing into research analysis. He has been covering myriad technology categories for BCC Research for more than 15 years. McWilliams has a BA from Princeton University and an MA from Harvard University. He has worked in more than 40 countries and he resides in the greater Boston area.
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The global market for elder-care technology products is worth approximately $2.6 billion in 2010 and should grow to about $4 billion in 2015, at a compound annual growth rate (CAGR) from 2010 to 2015 of 8.7%.
Safety monitoring technologies are valued at $2.3 billion in 2010 and are expected to reach $3.4 billion by 2015, a compound annual growth rate of 8.2%
Home telehealth technologies are worth $371 million in 2010 and are expected to increase at a compound annual growth rate (CAGR) of 11.2% to reach $631 million in 2015.