Market Research Report
Home Health Hub - Global Market Outlook (2017-2026)
|Published by||Stratistics Market Research Consulting||Product code||662831|
|Published||Content info||132 Pages
Delivery time: 1-2 business days
|Home Health Hub - Global Market Outlook (2017-2026)|
|Published: June 1, 2018||Content info: 132 Pages||
According to Stratistics MRC, the Global Home Health Hub Market is accounted for $186.60 million in 2017 and is expected to reach $1863.50 million by 2026 growing at a CAGR of 29.2% during the forecast period. Factors favouring the market growth are increasing geriatric population, subsequent increase in the prevalence of chronic diseases, shortage of healthcare professionals and decreasing cost of healthcare. Furthermore, increased interest in health and wellness tracking, high demand for remote patient monitoring are some of the major opportunities for the growth of the market. However, lack of awareness and poor internet availability in underdeveloped and developing countries are hampering the market growth.
Home health hubs, also called home health gateways, will be a growing part of the home health technology market. These devices and applications use wireless connectivity to aggregate information from disparate sources. These devices allow multiple connectivity options to obtain data from commercially available wired and wireless healthcare devices such as blood pressure monitors, pulse oximeters etc. It provides connectivity to take action with collected data by sharing it through a remote device with a display such as a tablet, PC or smartphone or through the cloud. Its primary goal is the need to reduce or contain healthcare costs while improving patient outcomes, increased interest in health and wellness tracking, and the emergence of a more connected consumer base.
Based on type of patient monitoring, high-acuity patient monitoring segment is projected to be the fastest growing segment due to rising demand in aging population, high increase rate in frequency of chronic diseases like kidney failures, heart failures and lung diseases. By end user, home care agencies segment is expected to dominate the market owing to increasing dependency of patients on telehealth solutions, such as remote monitoring via phones and the internet to manage their health conditions, rising government's initiatives to support home healthcare agencies.
By geography, the North America is considered as the largest market in global home health hub market during the forecast period due to increase in advanced technologies, prevalence of chronic and lifestyle diseases, growing healthcare costs, lack of physicians, and high demand in adopting better healthcare services., whereas Asia Pacific stood as the fastest market in this region, factors such as owing to the growth of per capita income, and increase in usage of smartphones.
Some of the key players in home health hub market include OnKol, AMC Health, Hicare (Subsidiary of Insung Information Co. Ltd), Honeywell International, IDEAL LIFE Inc., iHealth Lab, Lamprey Networks, MedM Inc., Qualcomm Incorporated, Vivify Health, Inc.
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