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April 20, 2015

Smart IOT health tech will assist 80 million sick people by 2020

Growth driven by medical monitoring, remote consultations, eldercare, and health and wellness applications.

By

Home health technology use will soar from 14.3 million households in 2014 to 78.5 million in 2020.

Services such as time gap, medical monitoring diagnosis and treatment will be the largest application market driving the adoption of different connected health devices and software applications.

Other key segments of this market are remote consultations, eldercare, and health and wellness.

A newly published study focused on the market trends and technology issues within home health solutions, forecasting users, services, and hardware adoption rates between 2015 and 2020.

Charul Vyas, principal analyst at Tractica, which conducted the research, said: "Key factors driving interest in home healthcare technologies include rising healthcare costs, aging populations, and a rise in the number of people living with chronic diseases.

"However, significant challenges remain for the industry to solve, including regulatory issues, data security and privacy, and technology interoperability and integration issues."

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