Smart homes could provide healthcare to residents
Frost & Sullivan says digital healthcare providers looking to integrate solutions in smart homes
Smart home solutions could soon double as healthcare systems, according to analyst company Frost & Sullivan.
The company says that digital healthcare vendors are increasingly looking to integration of their products with smart homes, to allow monitoring and care for all residents in a home.
The ubiquity of broadband connectivity, development of smart sensors, and the decreasing costs of devices have already made it possible to offer specific care solutions for patients in their own homes, including chronic disease management and post-acute care services and services for the elderly, according to Frost & Sullivan.
Digital healthcare providers are seeking to build on that by developing solutions for all people in a household, such as monitoring of diet and nutrition, the environment, and overall wellness.
"Patients are conscious of their health quotient and want to be involved in the wellness and disease management," said Sowmya Rajagopalan Global Program Director Transformational Health, Frost & Sullivan. "With consumerization of healthcare, enabling patients to clinically manage their disease at home has been of crucial importance for care providers and OEMs today as they have made this a reality with the launch of innovation in design, devices, services, and solutions."
Frost & Sullivan's recent analysis, Vision 2025-Healthcare in the Smart Home, predicts that the health and wellness segment of connected homes market revenues was $6.67 billion in 2017, and will grow to $22.26 billion by 2022.
The report also identifies areas for potential growth in home healthcare including providing an intelligent layer that will collect and analyse data to generate precise, customized insights for sharing with residents, caregivers, and clinical care teams; developing solutions that enable further actions, such as hailing an ambulance or notifying the care team of a heart attack or a fall; enhancing pre-defined architecture, protocols, and standards to enable easier integration of products into platforms; and offering smart thermostats, virtual voice assistance devices, and smart security systems, in addition to ensuring tech development for residents, patients and caregivers.
"Any solution that can monitor the health of various individuals in a single house, using cross-industry business models, while operating in a stringently regulated industry, will have to be highly dynamic, integrable, and interoperable," noted Siddharth Shah Industry Analyst Transformational Health. "While the barriers to market entry seem high, there are substantial opportunities for automation and healthtech vendors that are keen to develop technologies, products, and models for this market."