$11.22+ Billion Smart Home Healthcare Market to 2031.

PORTLAND, OREGON, UNITED STATES, July 17, 2024 /EINPresswire.com/ -- Global Smart Home Healthcare Market Overview

The global smart home healthcare market, valued at $4.81 billion in 2021, is projected to reach $11.22 billion by 2031, with a CAGR of 8.8% from 2022 to 2031. This growth is driven by the increasing geriatric population, rise in chronic diseases, technological advancements, and demand for personalized healthcare.

Key Highlights
• Market Growth: From $4.81 billion in 2021 to $11.22 billion by 2031.
• CAGR: 8.8% (2022-2031).

Smart Home Healthcare Ecosystem

Smart home healthcare involves a network of sensors and devices for in-home care of elderly individuals, outpatients, and persons with disabilities. Key devices include alert systems, smartwatches, glucose monitors, oximeters, and fall prevention systems, which help monitor various medical parameters and enhance quality of life.

Market Drivers
• Aging Population: Increasing elderly population requiring regular health monitoring.
• Chronic Diseases: Rising incidence due to unhealthy lifestyles necessitating continuous health tracking.
• IoT Integration: Growing popularity of IoT devices enabling remote monitoring and management.
• Technological Advancements: Continuous innovation in healthcare technologies.

Market Restraints
• Data Privacy and Security: Concerns about the misuse of personal health information.
Impact of COVID-19
The pandemic positively impacted the smart home healthcare market due to:
• Restructured Healthcare Facilities: Clinics and hospitals focused on COVID-19 care, increasing the demand for home healthcare devices.
• Increased Use of Smart Devices: Rise in use of smart glucose and cardiac monitoring systems to reduce the burden on healthcare facilities.

Market Segmentation
By Product
• Medical Device Alert Systems
• Smart Glucose Monitoring Systems: Highest revenue in 2021.
• Smart Cardiac Monitoring Systems: Expected highest CAGR (9.4%).
By Technology
• Wireless: Dominated the market in 2021, expected to witness highest CAGR (8.9%).
• Wired
By Application
• Fall Prevention & Detection
• Health Status Monitoring: Dominated the market in 2021, expected highest CAGR (8.9%).

Regional Analysis
• North America: Largest market share in 2021, driven by technological advancements and robust infrastructure.
• Asia-Pacific: Notable growth expected due to rising geriatric population and healthcare investments.

Key Players
• Abbott Laboratories
• Agatsa Software Pvt Ltd
• Apollo Global Management, Inc
• Bay Alarm Medical
• Connect America
• Dexcom, Inc
• F. Hoffman-La Roche AG
• Qure4u
• Medical Guardian LLC
• Medtronic
• Mytrex, Inc
• Nureca Limited
• Tunstall Group
• Vital Connect
• Withings
• Sunfox Technologies Pvt Ltd
• Mari Group

𝑬𝒏𝒒𝒖𝒊𝒓𝒆 𝑩𝒆𝒇𝒐𝒓𝒆 𝑩𝒖𝒚𝒊𝒏𝒈: https://www.alliedmarketresearch.com/purchase-enquiry/A08117

David Correa
Allied Market Research
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