Retirement Communities Market Strategies During COVID-19, And How Players Are Expanding Geographically As Per The Business Research Company's Report On The Retirement Communities Market

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LONDON, Sept. 02, 2021 (GLOBE NEWSWIRE) — According to The Business Research Company's retirement communities industry report, telehealth technology is extensively being used by nursing care providers in retirement communities to improve the quality of care being offered to the residents. Telehealth is the use of digital and communication technologies to remotely access healthcare services. It provides a wide range of diagnostic, therapeutic, care management services, and supporting tools for the caregivers such as assisted living personnel and retirement communities' on-site doctors and nurses.

It includes other technologies and services such as virtual visits conducted over live video, email services, remote patient monitoring, and activity monitoring depending on individual needs. Major telehealth companies include 19 Labs, 3Derm Systems, A&D Medical, Advanced ICU Care, and AGNITY.

COVID-19 is particularly concerning for older persons with underlying health conditions, regardless of their living situation. Those with greater frailty are generally at greater risk. The virus also spreads quickly in dense communities with regular activities, communal meals and/or gatherings and thus these underlying factors presents a major health risk in senior communities where there are numerous residents with fragile immune systems. The virus has exerted a huge strain on operators relating to operational pressures and challenges in managing anxiety, stress, numbers of staff off work self-isolating or shielding, staff burnout, staff shortages, managing expectations, lack of availability of PPE, and striving to protect health and well-being. Thus, the telehealth industry has huge ability to provide in these circumstances.

The global retirement communities market size is expected to grow from $189.3 billion in 2020 to $285.1 billion in 2025 at a rate of 8.5%. It is then expected to grow at a CAGR of 5.6% from 2025 and reach $374.7 billion in 2030. Western Europe was the largest region in the retirement communities market, accounting for 42.4% of the total in 2020.

The Business Research Company's report titled Retirement Communities Market – By Type (Continuing Care Retirement Communities, Rest Homes, Assisted Living Facilities, Assisted Living Facilities With Nursing Care), By Region, Opportunities And Strategies – Global Forecast To 2030 covers major retirement communities companies, retirement communities market share by company, retirement …

Full story available on Benzinga.com

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