Home > Healthcare > Healthcare IT > Payer/Provider Solutions > Smart Home Healthcare Market

Smart Home Healthcare Market Size

Report ID: GMI3211
Published Date: Nov 2022
Report Format: PDF

Download Free Sample

Smart Home Healthcare Market Size

Smart Home Healthcare Market size exceeded USD 13 billion in revenue in 2022 and is forecast to expand at over 28.5% CAGR through 2032 primarily driven by the growing consumer inclination towards IoT technology.

IoT enables consumers to manage and monitor their health remotely, enhancing patient outcomes. The need for visiting fall detection and prevention and emergency units frequently is eliminated through remote health monitoring. Additionally, the market’s revenue is fueled by industry participants creating novel solutions to enhance patient outcomes.

To get key market trends

Download Free Sample

Furthermore, the upsurge in the demand for smart home healthcare devices is propelled by the mounting preference for personalized care and treatment in developed economies, which is likely to stimulate the market trends. Over the past few years, patients have had more access to health data, which has created massive growth potential for healthcare providers to offer personalization to improve patient care and health outcomes, and to lower costs.

Smart Home Healthcare Market Report Attributes
Report Attribute	Details
Base Year:	2022
Smart Home Healthcare Market Size in 2022:	13 Billion (USD)
Forecast Period:	2023 to 2032
Forecast Period 2023 to 2032 CAGR:	28.5%
2032 Value Projection:	172 Billion (USD)
Historical Data for:	2018 to 2022
No. of Pages:	146
Tables, Charts & Figures:	183
Segments covered:	Technology, Service, Application, and Region
Growth Drivers:	Growing popularity of Internet-of-Things (IoT) in home healthcare Technological advancements in home healthcare devices Growing demand for personalized healthcare in developed countries Increasing prevalence of chronic diseases Rising geriatric population base worldwide
Pitfalls & Challenges:	Concerns regarding data privacy and security Stringent regulatory framework High cost of smart home healthcare devices

Learn more about the key segments shaping this market

Download Free Sample

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Global market for smart home healthcare was valued at more than USD 13 billion in 2022 and is projected to depict over 28.5% CAGR through 2032 primarily driven by the growing consumer inclination towards IoT technology.

Renovation and customization segment is expected to reach over USD 60 billion by 2032 backed by the R&D spending for the development and upgradation of existing smart home healthcare systems.

Asia Pacific smart home healthcare market is anticipated to surpass USD 39 billion by 2032 owing to the rising investment from government and private organizations to raise awareness about chronic diseases.

Apple Inc., General Electric Lighting, Google (Alphabet Inc.), Companion Medical, SAMSUNG Electronics, Hoffmann-La Roche Ltd., Health Care Originals, Hocoma AG, Medical Guardian, Medtronic, Sanofi SA, VitalConnect, Zanthion, and others are all some key manufacturers operating in the market.