The healthcare industry faces many challenges that are contributing to rising demand for healthcare services and increases in associated costs. Healthcare providers and patients are looking for cheaper, more cost-effective solutions. Technology can solve these issues by enhancing the quality and cost-effectiveness of patient care and support and moving healthcare services from the hospital to the home. The proliferation of smart home technologies has supported this transition by engaging consumers with easily accessible real-time information through web portals and mobile apps.
Yet, these connected devices and applications are only the first step along a spectrum of the more advanced healthcare services technology can enable. This spectrum of home healthcare is ripe with opportunity for stakeholders—from technology startups to service providers to large tech incumbents—to engage consumers, explore new business models, and create new revenue streams in the home. The nexus of Internet of Things (IoT) and health ultimately puts power in the hands of consumers and enables self-care, which is revolutionizing the healthcare industry and contributing to the emergence of healthcare as a value proposition for the smart home.
This Navigant Research report examines the emerging digital health industry, with a focus on how IoT is disrupting healthcare and moving it to the home. The study discusses how the convergence of smart home value propositions provides new opportunities for stakeholders to introduce innovative digital health solutions to bring efficiencies and enhancements to a traditional market. It also provides recommendations on how players in the smart home and health industries can address the smart home lifestyle and seize digital health market opportunity while there is momentum.
Key Questions Addressed:
- What are digital health solutions?
- What role does the smart home play in healthcare?
- What are the market drivers and barriers for digital health solutions?
- What types of companies are involved in the nexus of Internet of Things (IoT) and health?
- What examples exist of players engaged in IoT for home healthcare?
- What are the key best practices for companies involved in smart home and digital health solutions?
Who needs this report?
- Healthcare providers
- Internet of Things (IoT) platform providers
- Energy suppliers
- Connected device manufacturers
- Home automation providers
- Home security providers
- Web portal and app software providers
- Investor community
Table of Contents
IoT Is Disrupting Healthcare and Moving It to the Home
Health Provides a Convincing Story for Smart Home Solutions
Home Healthcare Is Not Just About Health Tech
Ultimately, We Still Need Traditional Healthcare
Smart Home Value Propositions Are Converging
New Opportunities at the Nexus of Health and IoT
Players from Unexpected Industries Are Entering the Smart Home and Increasing Competition
Vitality Health Insurance
NHS and GP at Hand
Competition Is Heating Up
Address the Smart Home Lifestyle, Including Health
Value IoT Products and Services through a Variety of Use Cases
Partner to Approach the Market from Different Angles
Understand the Implications of Playing in the Digital Health Market
Healthcare Providers Need to Learn from Utilities
List of Figures
- Spectrum of IoT for Home Healthcare
- The Smart Home as a Lifestyle – Convergence of Use Cases
- GP at Hand Mobile App
- Philips Digital Healthcare Platform