Telecom Lead India: Wearable wireless device market will
touch 36 million in 2017, up from under 3 million units in 2011, at a CAGR of
55.9 percent.
A combination of factors including the growing senior
demographic combined with economic, social, and technological developments are
driving investment and demand for home monitoring devices that can extend and
improve in-home care.
As the market transitions from safety focused offerings
toward health monitoring and extending and enhancing the comfort, safety, and
well-being for seniors living in their own homes and care homes, monitoring
devices will grow significantly.
Home monitoring will almost double its share of the
wearable wireless device health market to 22 percent from 12 percent.
Healthcare providers and caregivers alike are looking
for devices to improve the monitoring of seniors in their own homes as
economics and demographics increasingly drive that demand,” said Jonathan
Collins, principal analyst at ABI Research and author of a new report examining
the wearable wireless device healthcare market.
The potential of this market will bring in new players
into the market from traditional specialists, to established healthcare device
players, and a range of new start-ups looking to leverage device availability
and broadband connections into senior’s homes.
Connectivity suppliers, wearable device and health
gateway vendors, online applications, and existing vertically integrated
players are all ramping up their offerings to meet the demands of this growing
market.
The established Personal Emergency Response Systems
(PERS) and Ambient Assisted Living (AAL) market has been a service sold directly
to consumers and largely separate from medical monitoring. Given the
significant link between seniors and chronic disease management these services
will increasingly be integrated with healthcare monitoring.
