Global Smart Home Healthcare Market, By Technology (Wired and Wireless), Product (Testing, Screening and Monitoring Products, Therapeutic Products and Mobile Care Products), Service (Skilled Nursing Services, Rehabilitation Therapy Services, Hospice and Palliative Care Services, Unskilled Care Services, Respiratory Therapy Services, Infusion Therapy Services and Pregnancy Care Services), Indication (Cardiovascular Disorders and Hypertension, Diabetes, Respiratory Diseases, Pregnancy, Mobility Disorders, Hearing Disorders, Cancer, Wound Care and Other Indications), Country (U.S., Canada, Mexico, Germany, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia- Pacific, Brazil, Argentina, Rest of South America, South Africa, Saudi Arabia, UAE, Egypt, Israel, Rest of Middle East & Africa) Industry Trends and Forecast to 2028
Market Analysis and Insights of Smart Home Healthcare Market
Due to ever-increasing use of smartphones, global smart home healthcare market is witnessing a significant rise in its market value. Data Bridge Market Research analyses that the global smart home healthcare market will witness a CAGR of 23.46% for the forecast period of 2021-2028. This means that the market value will rise from USD 51,069.55 million in 2020 to USD 275,659.03 million in 2028.
Smart home healthcare is a technology that provides medical facilities and equipment to patients at home. This means that he or she need not go to the doctor or the hospital all the time. They are most beneficial when a patient suffers from a long life ailment or he or she has to be kept under medical supervision for numerous days. Also, technology is very flexible and beneficial for the geriatric population.
Rapid increases in the geriatric population and patients with some of the other ailment are the root cause for the market seeming a boom since its emergence. An increase in technological advancements coupled with improving artificial intelligence too is responsible for the ever-growing demand. The cost-benefit provided by this technology, in the long run, is also working in the market’s favor. Technology is also demanded highly by the pregnant population.
However, fluctuations in the reimbursement policy will pose a challenge to this market. Also, issues concerning the safety of individuals would limit down the growth. In other words, there does exist a threat to the privacy and security of the individual who has installed or is accessing the technology.
This smart home healthcare market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on smart home healthcare market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Smart Home HealthCare Market Scope and Market Size
Smart home health care market is segmented on the basis of technology, product, service and indication. The growth amongst these segments will help you analyse meagre growth segments in the industries, and provide the users with valuable market overview and market insights to help them in making strategic decisions for identification of core market applications.
- On the basis of technology, the smart home health care market is segmented into wired and wireless.
- On the basis of product, the smart home health care market is segmented into testing, screening and monitoring products, therapeutic products and mobile care products. Testing, screening and monitoring products are further sub-segmented into blood glucose monitors, blood pressure monitors, pulse oximeters, peak flow meters, heart rate monitors, fetal monitoring devices, HIV test kits, home sleep testing devices, coagulation monitoring products, ovulation and pregnancy test kits, Event monitors, cholesterol monitoring devices, colon cancer test kits, home hemoglobin test kits, drug and alcohol test kits, ECG/EKG devices, EEG devices, temperature monitors, hearing aids and activity monitors and wristbands. The therapeutic products are further bifurcated into oxygen delivery systems, nebulizers, ventilators, sleep apnea therapeutic devices, wound care products, IV equipment, dialysis equipment, insulin delivery devices, inhalers and other therapeutic products. Mobile care products can also be segmented into wheelchairs, walkers and rollators, mobility scooters, canes and crutches.
- On the basis of service, the smart home health care market is segmented into skilled nursing services, rehabilitation therapy services, hospice and palliative care services, unskilled care services, respiratory therapy services, infusion therapy services and pregnancy care services.
- The smart home health care market can also be segmented on the basis of indication into cardiovascular disorders and hypertension, diabetes, respiratory diseases, pregnancy, mobility disorders, hearing disorders, cancer, wound ware and other indications.
Smart Home Healthcare Market Country Level Analysis
Smart home healthcare market is analysed and market size insights and trends are provided by country, technology, product, service and indication as referenced above.
The countries covered in the smart home healthcare market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.
North America holds the largest chunk in terms of global smart home healthcare market owing to large number of patients with chronic ailments, rising healthcare expenditure and rising geriatric population across the countries in this region. Asia-Pacific on the other region will witness the highest CAGR for the forecast period due to rising awareness about the technology and growing adoption of mobile health technologies. Also, largest population of this region will work in its favour.
The country section of the smart home healthcare market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Smart Home Healthcare Market Share Analysis
Smart home healthcare market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to smart home healthcare market.
The major players covered in the smart home healthcare market report are Apple Inc., Companion Medical, F. Hoffmann-La Roche Ltd, General Electric, Health Care Originals., Hocoma, Medical Guardian, LLP., Medtronic, SAMSUNG, VitalConnect., Zanthion, Resideo Technologies, Inc., Schneider Electric, Qualcomm Technologies, Inc., BSH Home Appliances Group, Koninklijke Philips N.V., AT&T, Anish Corporation, E & A Engineering Solutions Private Limited and Kul Systems among other domestic and global players. Market share data is available for Global, North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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