The smart home healthcare market enables remote health monitoring of patients at home through smart devices and applications. This helps patients receive medical care without visiting hospitals regularly, while also enabling independent living. The market comprises devices such as activity monitors, glucometers, pulse oximeters, and blood pressure monitors that can be paired with smartphones and transmit health data to doctors and caregivers. This allows real-time monitoring of patients and early detection of any abnormalities. The advantages include convenience, enhanced accessibility of healthcare services, and reduced costs for both patients and providers. As per reports, chronic diseases afflict over 1.7 billion people globally and require long-term supervision and treatment. The growing geriatric population that is prone to chronic illnesses is a major driver boosting the adoption of Smart Home Healthcare Market Size solutions.
The global smart home healthcare market size was valued at US$ 14.14 Billion in 2022 and is anticipated to witness a compound annual growth rate (CAGR) of 24.4% from 2023 to 2030.
Key Takeaways
Key players operating in the smart home healthcare market are Celgene Corporation, Mesoblast Ltd., Pluristem Therapeutics Inc., MEDIPOST Co., Ltd., Takeda Pharmaceutical Company Limited, Astellas Pharma Inc., Cellular Biomedicine Group, Inc., Biosolution Co., Ltd., StemCell Technologies Inc., Caladrius Biosciences, Inc., TiGenix N.V., ViaCord, Vericel Corporation, Regen Biopharma Inc., Gamida Cell Ltd., Histogenics Corporation, BrainStorm Cell Therapeutics Inc., Lineage Cell Therapeutics, Inc. These players are focusing on new product launches and enhancing their product portfolios to gain more market share.
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