Market Challenges And Opportunities

Growth in adoption of health caregiving is expected to underpin the smart home medical device market

According to American Association of Retired Persons (AARP), in 2016, around 80% growth has been observed in the medication management segment in the health caregiving market, which in turn is expected to support growth of the smart home medical device market in the near future. Medical technology utilized in home care settings, where the caregivers are active, ranges between complex and simple materials that are also used for administering first aid to sophisticated devices and advanced medical treatment. The products involved in home care settings can vary from tiny wireless devices to massive machines. Smart home medical devices such as blood pressure measuring equipment, sugar level measuring equipment and devices are widely used.