CHICAGO, UNITED STATES, July 5, 2023/EINPresswire.com/ — The global 𝐬𝐦𝐚𝐫𝐭 𝐡𝐨𝐦𝐞 𝐡𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 was valued at US$18.8 billion in 2022 and is estimated to surpass the market size of US$129.7 billion by 2031 at a CAGR of 24.3% during the forecast period 2023–2031.
𝐒𝐚𝐦𝐩𝐥𝐞 𝐨𝐟 𝐓𝐡𝐢𝐬 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/smart-home-healthcare-market
The smart home healthcare market’s lucrative growth potential as the need for home-based healthcare services and remote patient monitoring rises. Patients can now receive individualized treatment in the comfort of their homes owing to developments in wearable, IoT, and AI technology. For instance, the term “Silver Tech” is a recent one that describes the expanding technology sector for senior citizens. The need for home care technology, in particular, is increasing quickly.
The two main factors predicted to propel the growth of the global smart home healthcare market products over the next two years are the growing geriatric population and the rising prevalence of a few chronic illnesses, such as cancer, diabetes, arthritis, and heart conditions. For instance, the World Health Organization (WHO) forecasts that by 2050, there will be 1.5 billion people worldwide who are 65 years of age or older, up from 524 million in 2010.
𝐖𝐢𝐫𝐞𝐥𝐞𝐬𝐬 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲 𝐭𝐨 𝐆𝐞𝐧𝐞𝐫𝐚𝐭𝐞 𝟗𝟏% 𝐨𝐟 𝐒𝐚𝐥𝐞𝐬
The wireless segment is estimated to attain over 91% of the revenue share in the smart home healthcare market. This dominance is due to the rising use of wireless technology, which enables real-time monitoring of patient’s health problems, remote monitoring, and communication between patients and healthcare professionals.
𝐓𝐞𝐬𝐭𝐢𝐧𝐠, 𝐒𝐜𝐫𝐞𝐞𝐧𝐢𝐧𝐠, 𝐚𝐧𝐝 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬 𝐭𝐨 𝐀𝐭𝐭𝐚𝐢𝐧 𝟕𝟕% 𝐨𝐟 𝐌𝐚𝐫𝐤𝐞𝐭 𝐑𝐞𝐯𝐞𝐧𝐮𝐞
Testing, screening, and monitoring items are predicted to account for over 77% of the revenue in the smart home healthcare market’s product sector. The prevalence of chronic diseases is rising, necessitating continual monitoring and management, which is the cause of this dominance. The most common and expensive medical illnesses in the U.S. are chronic diseases. About 133 million Americans, or roughly 45% of the population, have at least one chronic illness, and the number is rising.
𝐈𝐧𝐟𝐮𝐬𝐢𝐨𝐧 𝐓𝐡𝐞𝐫𝐚𝐩𝐲 𝐭𝐨 𝐀𝐭𝐭𝐫𝐚𝐜𝐭 𝐌𝐨𝐫𝐞 𝐭𝐡𝐚𝐧 𝟐𝟒.𝟓% 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐨𝐟 𝐆𝐥𝐨𝐛𝐚𝐥 𝐒𝐦𝐚𝐫𝐭 𝐇𝐨𝐦𝐞 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭
Due to its efficiency and simplicity, infusion therapy has been increasingly popular in recent years and is now seen as an essential part of home healthcare.
The global market has a thriving infusion treatment category for several reasons. The need for long-term pharmaceutical administration has increased owing to the rising prevalence of chronic diseases like cancer, diabetes, and autoimmune disorders. As a result, there is now a larger need for infusion therapy services, which can be provided by a medical professional in the patient’s home.
𝐍𝐮𝐭𝐫𝐢𝐞𝐧𝐭 𝐚𝐧𝐝 𝐃𝐢𝐞𝐭 𝐌𝐨𝐧𝐢𝐭𝐨𝐫𝐢𝐧𝐠 𝐆𝐚𝐢𝐧𝐢𝐧𝐠 𝐌𝐨𝐦𝐞𝐧𝐭𝐮𝐦 𝐢𝐧 𝐭𝐡𝐞 𝐆𝐥𝐨𝐛𝐚𝐥 𝐒𝐦𝐚𝐫𝐭 𝐇𝐨𝐦𝐞 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭
The global market is anticipated to reach $ 129.77 billion by 2031, with the nutrition and diet monitoring segment accounting for 16.5% of total income. Customers are prepared to pay for these products and services because they understand how crucial food and nutrition are to sustaining their health.
A growing understanding of the significance of healthy eating practices and the influence of nutrition on general health is driving the increase in demand for nutrition and diet monitoring. This has prompted the creation of numerous tools and technologies that can track and monitor a person’s food and nutrition, which has grown to be a significant market.
𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐨 𝐌𝐨𝐫𝐞 𝐅𝐮𝐥𝐥 𝐃𝐞𝐭𝐚𝐢𝐥𝐞𝐝 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/industry-report/smart-home-healthcare-market
𝐀𝐬𝐢𝐚 𝐏𝐚𝐜𝐢𝐟𝐢𝐜 𝐭𝐨 𝐖𝐢𝐭𝐧𝐞𝐬𝐬 𝐇𝐢𝐠𝐡𝐞𝐬𝐭 𝐆𝐫𝐨𝐰𝐭𝐡
The modernization of healthcare delivery in the Asia Pacific healthcare sector is a goal of digital transformation and the explosion of IoT devices. Additionally, manufacturers worldwide have been offering cost-efficient and efficient solutions, particularly for Asian smart homes. Taiwan, South Korea, and Singapore are examples of Asian nations with excellent data connectivity.
By 2050, there will be 366 million senior Chinese people, which is a significant increase over the current (331 million) overall population of the United States. The proportion of people 65 and older in China will have risen by then from 12% to a projected 26%. The nation’s aging population will probably be a major driving force in the smart home healthcare market.
The emerging generation of people in the region who have grown up with technology suggests a possible market acceptance. Market players in the region are pursuing several activities that are likely to strengthen the smart home healthcare market there. For instance, Ping An Healthcare and Technology Company Limited stated in October 2022 that it would buy Ping An Smart Healthcare, a Ping An Intelligent City business sector.
𝐓𝐨𝐩 𝟒 𝐏𝐥𝐚𝐲𝐞𝐫𝐬 𝐇𝐨𝐥𝐝 𝐋𝐞𝐬𝐬 𝐭𝐡𝐚𝐧 𝟐𝟎% 𝐨𝐟 𝐑𝐞𝐯𝐞𝐧𝐮𝐞 𝐨𝐟 𝐒𝐦𝐚𝐫𝐭 𝐇𝐨𝐦𝐞 𝐇𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐌𝐚𝐫𝐤𝐞𝐭
The Global Smart Home Healthcare Market is fiercely competitive, with four big players dominating it and holding a combined market share of almost 19.06%. With about 6.54% of the market’s revenue, Apple Inc. now holds the top spot. Abbott Laboratories is in second place with a 4.55% market share.
The market leader, Apple Inc., is constantly improving its Watch and iOS to collect more health measurements, such as blood oxygen level, and developing a data-sharing function so consumers can exchange medical data with physicians. The business has also unveiled a streaming platform with exercise sessions that is subscription-based. With their own sensors and algorithms, the iOS and Watch teams at Apple continue to improve health and wellness measuring capabilities.
Another significant player in the market, Google, has revealed plans to transition Fitbit to its Wear OS operating system and has moved a significant portion of its Google Health team to Fitbit. In order to increase sales, Fitbit has had success exploring subsidizing relationships with insurers.
𝐏𝐫𝐨𝐦𝐢𝐧𝐞𝐧𝐭 𝐂𝐨𝐦𝐩𝐚𝐧𝐢𝐞𝐬
• Apple Inc.
• AT&T Inc.
• BSH Home Appliances Group
• Companion Medical
• E & A Engineering Solutions Private Limited
• F. Hoffmann-La Roche Ltd
• Fitbit Inc.
• General Electric Company
• Health Care Originals.
• Koninklijke Philips N.V.
• Kul Systems
• Medical Guardian LLC
• Medtronic
• Qualcomm Technologies, Inc.
• Resideo Technologies, Inc.
• Samsung Electronics Co. Ltd.
• Other Prominent Players
𝐒𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐎𝐮𝐭𝐥𝐢𝐧𝐞
𝐓𝐡𝐞 𝐠𝐥𝐨𝐛𝐚𝐥 𝐬𝐦𝐚𝐫𝐭 𝐡𝐨𝐦𝐞 𝐡𝐞𝐚𝐥𝐭𝐡𝐜𝐚𝐫𝐞 𝐦𝐚𝐫𝐤𝐞𝐭 𝐬𝐞𝐠𝐦𝐞𝐧𝐭𝐚𝐭𝐢𝐨𝐧 𝐟𝐨𝐜𝐮𝐬𝐞𝐬 𝐨𝐧 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲, 𝐏𝐫𝐨𝐝𝐮𝐜𝐭𝐬, 𝐒𝐞𝐫𝐯𝐢𝐜𝐞, 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐢𝐨𝐧, 𝐚𝐧𝐝 𝐑𝐞𝐠𝐢𝐨𝐧.
𝐁𝐲 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲
• Wired
• Wireless
𝐁𝐲 𝐓𝐞𝐜𝐡𝐧𝐨𝐥𝐨𝐠𝐲
• Testing, Screening, and Monitoring Products
• Therapeutic Products
• Mobile Care Products
𝐁𝐲 𝐒𝐞𝐫𝐯𝐢𝐜𝐞
• Skilled Nursing Services
• Rehabilitation Therapy Services
• Hospice and Palliative Care Services
• Unskilled Care Services
• Respiratory Therapy Services
• Infusion Therapy Services
• Pregnancy Care Services
𝐁𝐲 𝐀𝐩𝐩𝐥𝐢𝐜𝐚𝐭𝐢𝐨𝐧
• Fall Prevention and Detection
• Health Status Monitoring
• Nutrition or Diet Monitoring
• Memory Aids
𝐁𝐲 𝐈𝐧𝐝𝐢𝐜𝐚𝐭𝐢𝐨𝐧
• Diabetes
• Respiratory Diseases
• Pregnancy
• Mobility Disorders
• Hearing Disorders
• Cancer
• Wound Care
𝐁𝐲 𝐑𝐞𝐠𝐢𝐨𝐧
• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
South America
• Argentina
• Brazil
• Rest of South America
𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐑𝐞𝐪𝐮𝐞𝐬𝐭 𝐒𝐚𝐦𝐩𝐥𝐞 𝐂𝐨𝐩𝐲 𝐨𝐟 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐜 𝐑𝐞𝐩𝐨𝐫𝐭@- https://www.astuteanalytica.com/request-sample/smart-home-healthcare-market
𝐀𝐛𝐨𝐮𝐭 𝐀𝐬𝐭𝐮𝐭𝐞 𝐀𝐧𝐚𝐥𝐲𝐭𝐢𝐜𝐚:
Astute Analytica is a global analytics and advisory company that has built a solid reputation in a short period, thanks to the tangible outcomes we have delivered to our clients. We pride ourselves in generating unparalleled, in-depth, and uncannily accurate estimates and projections for our very demanding clients spread across different verticals. We have a long list of satisfied and repeat clients from a wide spectrum including technology, healthcare, chemicals, semiconductors, FMCG, and many more. These happy customers come to us from all across the globe.
They are able to make well-calibrated decisions and leverage highly lucrative opportunities while surmounting the fierce challenges all because we analyze for them the complex business environment, segment-wise existing and emerging possibilities, technology formations, growth estimates, and even the strategic choices available. In short, a complete package. All this is possible because we have a highly qualified, competent, and experienced team of professionals comprising business analysts, economists, consultants, and technology experts. In our list of priorities, you-our patron-come at the top. You can be sure of the best cost-effective, value-added package from us, should you decide to engage with us.
Aamir Beg
Astute Analytica
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