Market Research Report
Home Health Hub Market by Product & Service (Standalone Hub, Mobile Hub, Remote Patient Monitoring Service), Type of Patient Monitoring (High, Moderate, and Low Acuity), End User (Hospital, Payers, Home Care Agency) - Global Forecast to 2023
|Published by||MarketsandMarkets||Product code||638577|
|Published||Content info||123 Pages
Delivery time: 1-2 business days
|Home Health Hub Market by Product & Service (Standalone Hub, Mobile Hub, Remote Patient Monitoring Service), Type of Patient Monitoring (High, Moderate, and Low Acuity), End User (Hospital, Payers, Home Care Agency) - Global Forecast to 2023|
|Published: May 14, 2018||Content info: 123 Pages||
The home health hubs market is expected to reach USD 848.2 million by 2023 from USD 218.5 million in 2018, at a CAGR of 31.2%.
Factors such as the rising geriatric population and the subsequent increase in the prevalence of chronic diseases, growing need to reduce healthcare costs while improving patient outcomes, and shortage of healthcare professionals are driving the growth of the home health hubs market. However, the security and privacy concerns associated with these devices are expected to restrain the growth of this market to a certain extent.
On the basis of product and service, the home health hubs market is segmented into standalone hubs, smartphone-based hubs, and home health hub services. The smartphone-based hubs segment is expected to register the highest CAGR during the forecast period. The rapid growth in the smartphone industry, increasing utilization of mobile platforms to improve the accessibility to patient information, rising awareness about smartphone-based health applications, and the growing adoption of smartphone-enabled home health hubs are the major factors driving the growth of this segment.
Based on end user, the home health hubs market is segmented into hospitals, healthcare payers, home care agencies, and nursing homes & assisted living facilities. The home care agencies segment is expected to register the highest CAGR during the forecast period. The high growth in this segment is primarily attributed to the increasing reliance of patients on telehealth solutions, such as remote monitoring via phones and the Internet to manage their health conditions. Governments in a number of countries are implementing various initiatives to promote home healthcare, which is also expected to further drive the growth of home care agencies segment in the coming years.
North America held the largest share of the global home health hubs market in 2017. On the other hand, The Asia Pacific market is expected to grow at the highest rate owing to the growing per capita income, increasing health awareness, growing demand for remote patient monitoring and better healthcare services, and increasing penetration of smartphones in several APAC countries.
Break of primary participants was as mentioned below:
Prominent players in this market are: Qualcomm (US), Honeywell (US), Vivify (US), Lamprey Networks (US), AMC Health (US), iHealth Lab (US), IDEAL LIFE (US), Hicare (US), MedM (US), and OnKol (US).
The report analyzes the various home health hubs and their adoption patterns. It aims at estimating the market size and future growth potential of the global home health hubs market for different segments such as product and service, type of patient monitoring, end user, and region. The report also includes an in-depth competitive analysis of key players in this market along with their company profiles, product offerings, recent developments, and key market strategies.
The report will enrich established firms as well as new entrants/smaller firms to gauge the pulse of the market. Firms purchasing the report could use one or any combination of the below-mentioned five strategies for strengthening the market, which in turn could help them garner a greater market share.
This report provides insights on the following pointers:
*Details on MarketsandMarkets view, Introduction, Product & Services, Strategy, & Analyst Insights, New Developments might not be captured in case of unlisted companies.