The rapid penetration of internet across the globe has influenced the adoption of connected devices across individuals and healthcare providers for ensuring adequate home healthcare alternatives. Medical IoT devices such as blood-pressure and glucose monitoring devices have gained huge popularity across individuals. These devices are additionally designed to track and monitor any specific irregularities in the health condition of the at-home patients and immediately communicate the respective healthcare center about the same. These smart home healthcare solutions are being largely adopted by patients and healthcare providers for procuring healthcare services at the convenience of their home. For instance, according to studies published by World Health Organization (WHO), about 15% of the world’s population are suffering from varied disabilities, of which about 110 million to 190 million adults are victims of functional disorders. The serious health conditions have impacted their mobility thereby depriving them of basic healthcare facilities. Hence, the growing aging population across the globe coupled with the rising disabilities across population is driving the adoption of smart home healthcare solutions. The elderly population require frequent medical interventions to avoid fatal conditions. Emergency situations like this are combated with the adoption of remote monitoring devices, which offers comfortable treatment options coupled with reduced hospital costs. For instance, CareSmart Seniors Consulting Inc., based in Canada, offers the elderly population across the country with wireless monitoring systems offered by Care Link Advantage. The cameras integrated in the systems enables efficient tracking of the activities and health of the patient, thereby enabling the healthcare providers to provide optimum care to the patient. Similarly, Samsung has invested in creating a unified platform for care solutions towards the elderly. It has designed the platform and devices to provide personalized healthcare solutions, thereby, enabling independent and improved life for the patients. The platform ensures regular communication between the patient, healthcare providers and their family members through smart TV and other devices. Thus, the rising adoption of smart solutions for home care among the elderly population coupled with the rising investment by companies in technologies to offer an efficient home healthcare system is contributing towards the growth of the smart home healthcare market across the globe.
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The outbreak of covid-19 pandemic is highlighting serious implications on the health of individuals at large. An increasing trend of spread of this disease through asymptomatic patients, i.e., through individuals who do not show symptoms of the infection has been observed. According to a research study, about 44% of the positive instances of the infection were encountered through such individuals. Healthcare technology companies are investing heavily towards development of varied devices to aid early detection, efficient tracking and monitoring of the infection. Development of applications and devices for remote tracking of patients in home quarantine is gaining rapid traction in the smart home healthcare market. Investments are being directed for research and development of smart home technologies for monitoring coronavirus patients who are remotely quarantines. The innovations and investment by market participants along with the acceleration in the implementation of 5G network across the globe, is anticipated to boost the growth of smart home healthcare market over the forecast period.
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The detailed research study provides qualitative and quantitative analysis of global smart home healthcare market. The market has been analyzed from demand as well as supply side. The demand side analysis covers market revenue across regions and further across all the major countries. The supply side analysis covers the major market players and their regional and global presence and strategies. The geographical analysis done emphasizes on each of the major countries across North America, Europe, Asia Pacific, Middle East & Africa and Latin America.
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Global Smart Home Healthcare Market:
- By Component
- Software
- Service
- By Application
- Fall Prevention and Detection
- Health Status Monitoring
- Nutrition Monitoring
- Memory Aids
- Others
- By Technology
- Wired
- Wireless
- By Region
- North America
- U.S.
- Canada
- Mexico
- Rest of North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- Denmark
- Finland
- Iceland
- Sweden
- Norway
- Benelux Union
- Belgium
- The Netherlands
- Luxembourg
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- New Zealand
- Australia
- South Korea
- Southeast Asia
- Indonesia
- Thailand
- Malaysia
- Singapore
- Rest of Southeast Asia
- Rest of Asia Pacific
- Middle East & Africa
- Saudi Arabia
- UAE
- Egypt
- Kuwait
- South Africa
- Rest of Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
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