Smart Home Medical Device MarketSize and Trends

Smart Home Medical Device Market

Post-discharge care plays an extremely important role in ensuring speedy and effective recovery of the patient. This is especially a matter of concern for the elderly as well as pediatric population who mostly spend their time at home and are usually dependent on someone else to ensure continued care. However, due to busy lifestyle of the populace in developed and emerging economies, post-discharge care is often hampered. This concern of family members as elderly people living alone is expected to favor growth of the market for smart home medical devices, such as fall detection system, bathroom sensors, monitoring and detecting systems and assisting systems. According to a Welfare Ministry Survey, in 2016, there were around 6.24 million people aged 65 and above were living alone in Japan. The increasing lonely deaths in the region is also a vital factor that is expected to favor the smart home medical device market.

Global smart home medical device market taxonomy

The global smart home medical device market is classified on the basis of following segments:

Product Type:

Detection and monitoring systems

Asthma detection kit
Glucose monitoring system
Others (blood pressure, weight variations)

Back therapy kit
Digital pills
Wearable

Clothes
Wrist watches
Alert patch
Smart contact lens

Others

Mattress
Bathroom accessories

Applications:

Medication Management
Glucose management
Diagnoses
Therapy
Assistance
Infant care
Telehealth management
Others (feeding, voiding)

Data Storage

Cloud
On-premises

Modality

Benchtop
Wearable
Standalone

Growing internet penetration favors growth of smart home medical devices market:

Smart home medical device is latest and futuristic approach towards making life easier and secure. This revolutionary step by the medical devices company has affected the healthcare industry and the adoption rate for such technology in a positive way. While most consumers and healthcare organizations were skeptical about the technology, the scenario is rapidly changing, with higher adoption rate of such devices, a trend that is expected to continue over the forecast period. Furthermore, the wide availability of the smart home medical devices is a crucial block to fill the loop hole for acceptance of such devices and services. Easily available personal monitoring system and other electronic devices are expected to favor rise in adoption of smart home medical devices. Smart home basically defined as the residence that uses controllers to integrate the functions of the device installed at home. The controllers are connected through a computer that is connected via internet and the data of the respondent is recorded on cloud or on-premises data bank, which can be further monitored by the physician or caretaker accordingly.