The smart home healthcare market is anticipated to be driven by rising consumer consciousness towards health and fitness. In the past decade, cases of diseases like CVD and obesity have spiked considerably across the globe. The fear of experiencing abnormal healthcare patterns like high blood glucose level or heart rate has encouraged patients to purchase wearable health monitoring devices.
Devices like fitness band and smartwatches now come with inbuilt sensors that help in detecting various health-related parameters like pulse rate, blood pressure, among others. These wearable gadgets can help in notifying early warnings regarding health-related issues by monitoring accurate health information.
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Technologies like mHealth, AI (artificial intelligence), and IoT (Internet of Things) have revolutionize the way healthcare technologies operate. AI technology in particular has gained immense traction in the healthcare sector as it can help in gathering and analyzing the information regarding activities of an individual and their health status.
The Asia Pacific smart home healthcare market 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.
Essentially, the manner in which Apple is developing and presenting its wearable device offerings is in many ways similar to that of Amazon’s Alexa. According to Fortune, Apple is expected to make its way into the smart home healthcare industry through medical-grade wearables such as AirPods that could double as hearing aids or an Apple Watch that can monitor glucose levels and sleep patterns.
According to Apple, the complete range of Apple devices is already becoming a mainstay at hospitals, allowing healthcare professionals to perform their tasks more efficiently and is also facilitating the growth of the mHealth market. This experience is expected to become a primary source of insight as the company attempts to replicate this success in home environments.
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Partial Chapter of the Table of Content
Chapter 4. Smart Home Healthcare Market, By Technology
4.1. Key segment trends
4.2.1. Market size, by region, 2014 – 2025 (USD Million)
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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