The global senior living market will rise by 127.4 billion USD by 2028, growing 5.9% annually, according to Technavio.
The main reason is the ageing ‘baby boomer’ population with a shift towards technological developments in long-term healthcare.
Patient database management through mobile and electronic health records is a key trend in long-term care, providing insights into patients’ weight, diet, exercise, and vital signs.
Mobile applications, wearables, trackers, communication devices, and smart alarms, are witnessing high demand.
“The adoption of smart homes is also increasing in developed countries, reducing caregiver dependence and contributing to market growth,” the report says.
Source: The Asian Business Review
