Smart Home Healthcare Market Latest Trends, Development, Growth Analysis and Forecast By 2025
Category: #healthcare  By Ronak Bora  Date: 2021-03-24
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Smart Home Healthcare Market Latest Trends, Development, Growth Analysis and Forecast By 2025

Global smart home healthcare market is set to gain massive traction over the projected timeline of 2019 to 2025. This can be credited to growing prominence of health monitoring and fitness across the globe, which has propelled the adoption of smart home healthcare solutions. For instance, increasing prevalence of heart related disorders and obesity has evoked the demand for wearable health monitoring devices such as fitness bands and smartwatches. These devices are equipped with various sensors which help the customers  check their heart rate and blood pressure frequently.

Technological advancements in these devices such as integration of software sensors and wireless technology for collection and transmission of physiological data to remote healthcare centers will open new growth avenues for the industry in future.

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Installation and repair segment is expected to witness a significant growth over the ensuing years on account of elevating demand for effective smart home healthcare installation and repair solutions. As installation services enable analysis of behavioral patterns and detection of anomalies, these services are witnessing an increased adoption for providing better patient care. Also, these services offer effective monitoring of pulse, respiration and daily activities which will positively influence the segment growth. For the record, in 2018, the segment had registered a valuation of over 4 billion.

Memory aids segment is estimated to witness a substantial growth rate of 26% over the forecast period owing to the rising prevalence of dementia and memory loss among elderly population as these systems offer alert and reminder signals to the physicians as well as patients, thereby providing efficient patient care. In addition, reminder systems are also helpful during critical situations, which will fuel the product adoption over the forthcoming years.

The Asia Pacific smart home healthcare industry held for more than 19% of the overall market revenue share in 2018, and is estimated to grow exponentially by 2025. Patients across the region are increasingly gravitating towards home healthcare technologies to monitor their vitals. Countries like India and China are witnessing an increase in advancements conducted in home healthcare applications. This, along with high expenditure on healthcare, could stir the smart home healthcare market of APAC.

Key players operating in the global smart home healthcare market are focusing on partnerships, new product launches and enhancements to stay competitive and maintain their financial stability in the market. In 2021, Carisk Partners, a specialty risk transfer and care coordination firm and HandsFree Health™ collaborated to deliver a voice-enabled, HIPAA compliant, home health assistant for catastrophically injured patients.

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Partial Chapter of the Table of Content

Chapter 4. Smart Home Healthcare Market, By Technology

4.1. Key segment trends

4.2. Wired

4.2.1.  Market size, by region, 2014 – 2025 (USD Million)

4.3. Wireless

4.3.1.  Market size, by region, 2014-2025 (USD Million)

Chapter 5. Smart Home Healthcare Market, By Service

5.1. Key segment trends

5.2. Installation and repair

5.2.1.  Market size, by region, 2014-2025 (USD Million)

5.3. Renovation and customization

5.3.1.  Market size, by region, 2014-2025 (USD Million)

Chapter 6. Smart Home Healthcare Market, By Application

6.1. Key segment trends

6.2. Fall prevention and detection

6.2.1.  Market size, by region, 2014-2025 (USD Million)

6.3. Health status monitoring

6.3.1.  Market size, by region, 2014-2025 (USD Million)

6.4. Nutrition or diet monitoring

6.4.1.  Market size, by region, 2014-2025 (USD Million)

6.5. Memory aids

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About Author

Ronak Bora    

Ronak Bora

A graduate in Electronics Engineering, Ronak writes for Technology Magazine and carries a rich experience in digital marketing, exploring how the online world works from a technical and marketing perspective. His other areas of interest include reading, music, and spo...

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