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Continuous monitoring of health status has the potential to enhance the quality of life and life expectancy of people suffering from chronic illness and of the elderly. However, such systems can only come into widespread use if the cost of manufacturing is low. Advancements in material science and engineering technology have led to a significant decrease in the expense of developing healthcare monitoring devices. This review aims to investigate the progress of the use of low-cost sensors in healthcare monitoring and discusses the challenges faced when accomplishing continuous and real-time monitoring tasks. The major findings include (1) only a small number of publications (N = 50) have addressed the issue of healthcare monitoring applications using low-cost sensors over the past two decades; (2) the top three algorithms used to process sensor data include SA (Statistical Analysis, 30%), SVM (Support Vector Machine, 18%), and KNN (K-Nearest Neighbour, 12%); and (3) wireless communication techniques (Zigbee, Bluetooth, Wi-Fi, and RF) serve as the major data transmission tools (77%) followed by cable connection (13%) and SD card data storage (10%). Due to the small fraction (N = 50) of low-cost sensor-based studies among thousands of published articles about healthcare monitoring, this review not only summarises the progress of related research but calls for researchers to devote more effort to the consideration of cost reduction as well as the size of these components. [ABSTRACT FROM AUTHOR]