LAMEA Telecare Market Size, Share & Industry Trends Analysis Report By Product Type (Activity Monitoring and Remote Medication Management), By Country and Growth Forecast, 2021 - 2027
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Market Report Description
The Latin America, Middle East and Africa Telecare Market would witness market growth of 9.9% CAGR during the forecast period (2021-2027).
Telecare applications have proven to be effective in providing patients with appropriate care and lowering the likelihood of unpleasant events and symptoms going unreported. The internet of things along with advanced healthcare analytics, as well as smart wearable gadgets and robust internet and smartphone connectivity, are transforming the telehealth business and allowing for flawless patient monitoring and effective chronic illness management. Additionally, by combining AI with machine learning algorithms, healthcare services can now be more personalized.
In the midst of a crisis, the healthcare industry changed its delivery systems. However, both clinicians and patients have learned to appreciate the advantages of telehealth. It can also be called by various names such as telemedicine, tele-education, e-health, remote medicine, mobile health, telemedical, mobile health, and m-Health, which has evolved into a strong and widely accepted new technology in its numerous forms and purposes. By incorporating tech-enabled delivery into the healthcare mix, more patients can be reached, the patient experience can be improved, and the consistency of treatment can be increased.
According to the International Trade Administration, Nigeria's healthcare infrastructure is still underdeveloped and only comprises a few modern medical facilities. The healthcare metrics in the country are among the lowest in Africa. It has one of the world's fastest-growing populations, with 5.5 live births per woman and a 3.2 percent annual population growth rate, and is expected to surpass 400 million people by 2050. Also, according to WHO estimates, medical professionals are in low supply, with only approximately 35,000 doctors available against a demand of 237,000, partially due to the significant migration of healthcare workers to other places. Moreover, according to the Nigerian Medical Association, medical tourism costs Nigeria at least $1.5 billion every year (NMA). This factor would facilitate the penetration of telecare services across the region.
The Brazil market dominated the LAMEA Telecare Market by Country 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $102.7 million by 2027. The Argentina market is anticipated to grow at a CAGR of 10.5% during (2021 - 2027). Additionally, The UAE market would exhibit a CAGR of 9.6% during (2021 - 2027).
Based on Product Type, the market is segmented into Activity Monitoring and Remote Medication Management. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Telecare Market is Predict to reach $5.5 Billion by 2027, at a CAGR of 5.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Abbott Laboratories, Pfizer, Inc., Sanofi S.A., Johnson & Johnson, AllScripts Healthcare Solutions, Inc., AT&T, Inc., Samsung Electronics Co., Ltd., Apple, Inc., Qualcomm, Inc., and Google LLC.
Scope of the Study
Market Segments Covered in the Report:
By Product Type
- Activity Monitoring
- Remote Medication Management
- Saudi Arabia
- South Africa
- Rest of LAMEA
Key Market Players
List of Companies Profiled in the Report:
- Abbott Laboratories
- Pfizer, Inc.
- Sanofi S.A.
- Johnson & Johnson
- AllScripts Healthcare Solutions, Inc.
- AT&T, Inc.
- Samsung Electronics Co., Ltd.
- Apple, Inc.
- Qualcomm, Inc.
- Google LLC
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