Enthusiasm for home health technologies continues to mount, fueled by the aging population, demands for personalized healthcare and convenience, population health efforts and the shift to value-based care. The global smart home healthcare market is set to hit $30 billion by 2023, up from $4.5 billion in 2017, according to ResearchAndMarkets. Of that, fall prevention and detection accounts for the largest share with 39% in 2017. Other major categories include safety and security monitoring, health status monitoring, memory aids and nutrition and diet monitoring. That includes popular home assistants like Google and Amazon, as well as apps, wearables and devices for monitoring glucose and blood pressure. In September, voice-powered care assistant Aiva Health got an undisclosed injection from the Google Assistant Investment Program. The startup uses Google Home, Amazon Echo and other smart speakers to engage patients and the elderly and connect them with their caregivers. Retailers are eyeing the market, too. Last summer, Best Buy put down $800 million in cash to acquire GreatCall, a mobile device that connects health and emergency response services to older people and their caregivers. The deal is part of a broader plan to expand Best Buy’s electronics expertise into the aging-in-place and personal health technologies markets…. Read full this story
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