The global Mobility Care Market is projected to reach USD 680.35 billion by 2027. The market is growing rapidly due to various factors such as the rising cost of hospital beds, the unavailability of ambulance services in remote areas, and the prevalence of chronic diseases, geriatric population, and pediatric deformity, and the proliferation of novel pandemics.
Tele-ICU technology has emerged as a popular development in the management and monitoring of critically ill patients in intensive care units. It provides an economical alternative for patient monitoring by incorporating a small amount of portable hardware that can offer advanced monitoring and alarming systems. This technology can reduce the financial burden of critical care units while also enabling critical care patients to receive treatment in the comfort of their homes.
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The Asia Pacific held a market share of 21.8% in 2019 and is expected to showcase a tremendous pace in the market amidst the COVID-19 epidemic situation due to an increase in technological advancements, healthcare expenditure, growing cases of chronic diseases, extremely low amount of critical care beds, and isolation per capita.
Due to the COVID-19 pandemic, there has been an unprecedented need for intensive care units and isolation wards across the globe. As a result, the use of Mobility Care systems has become essential for isolating COVID-19 positive patients as well as individuals with non-severe illnesses and conditions.
The market's key findings show that the increasing popularity of ambulatory care hospitals that release patients right after surgery and let patients take necessary medication and treatments at home are being widely preferred for their considerably low expenses. China and India are expected to witness a surge in this market shortly as the market value is expected to double itself in India shortly.
The infectious diseases sub-segment is observing the highest demand now due to the COVID-19 cases diagnosed worldwide. This sub-segment is projected to grow at a CAGR of 19.4% throughout the forecast period.
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Some of the key players in the Mobility Care Market are McKesson Medical-Surgical Inc., Medline Industries, Inc., 3M Healthcare, Brookdale Senior Living, Inc., Home Health Services Ltd., Genesis Healthcare Corp., Home Instead Senior Care, Inc., Care UK Limited, Becton, Dickinson and Company, ConvaTec Group PLC, and Extendicare, Inc., among others.
Reports and Data has segmented the Mobility Care Market based on product, software, services, purposes, types, and region. The product segment comprises of Mobility Care, Therapeutics, and Mobility Care. The software segment includes Agency Software, Clinical Management Systems, and Hospice Solutions. The service segment includes Rehabilitation, Infusion Therapy, Unskilled Care, Respiratory Therapy, Pregnancy Care, Skilled Nursing, Telemetry, Hospice Palliative Care, among others. The purpose segment includes Chronic Diseases, Infectious Diseases, Psychological Diseases, Geriatric Diseases, Pediatric Diseases, Fertility Treatments Pregnancy, Intensive Critical Care, Injuries Accidental Deformity, Nutrition General Consultancy, and Others. Lastly, the types of outlook include Mobility Care Monitoring, Mobility Care Services, and Mobility Care Software Solutions.
In conclusion, the Mobility Care market is growing rapidly and is expected to reach a significant market value in the next few years. The rising geriatric population and the prevalence of chronic diseases are the key factors contributing to the growth of this market. The adoption of tele-ICU technology and the incorporation of Mobility Care systems are also contributing to the growth of the market. The market is segmented based on product, software, services, purposes, types, and region, making it easier for investors and businesses to identify key trends and opportunities.
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