Home Health Hub Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2020-2026

Report Code: ZMR-5413 | Report Format : | Status : Upcoming |

Abstract

Global Home Health Hub Market: Overview

Home Health Hub also referred to as home health gateway is the combination of software and hardware system that enables the creation of a medical hub to monitor, acquire, and transmit patient data to healthcare professionals. It is a revolutionary step to support care coordination and continuity between primary healthcare systems and alternate care sites (ACS). The technology supports virtual healthcare delivery, telemedicine, remote patient monitoring as well as telehealth. The applications and devices of home health hub use wireless connectivity to combine the information from distinct sources like wearable devices, standalone health & wellness devices, and home monitoring equipment.

Global Home Health Hub Market: Growth Factors

The rising number of geriatric population, rising prevalence of chronic & lifestyle-related diseases, initiatives undertaken by the government to reduce the burden of the primary healthcare system are some of the factors driving the growth of the global home health hub market. Additionally, the necessity to reduce the healthcare cost and the growing trend of smart homes are the key factors contributing to the market growth. Moreover, digital health technologies growing at a rapid pace are also contributing to the growth of the global home health hub market. Furthermore, the increasing interest of the population in health & wellness tracking will boost the growth of the market in the forthcoming years. However, low connectivity in low and medium-income countries will hinder the growth of the global home health hub market.

The outbreak of covid-19 has put a huge burden on the healthcare sector and is facing huge challenges due to the rising number of covid-19 patients. The strict orders of lockdown made it difficult to maintain curative and preventive services for the geriatric population, children, and people living with disabilities & chronic conditions. Moreover, a face-to-face consultation is also been reduced due to lockdown and social distancing policy. This has facilitated the rising use of telehealth and telemedicine services. It also helps to avoid the stay of the individuals in hospitals as there are maximum chances of getting an infection. Thus, the home health hub is maintaining the essential health services during the covid-19 pandemic which in turn is expected to boost the global home health hub market post-covid-19 era.

Global Home Health Hub Market: Segmentation

The global home health hub market is bifurcated into type of patient monitoring, product & service, end-user, and region. By type of patient monitoring, the market is divided into low-acuity patient, moderate-acuity, and high-acuity. Based on product & services, the market is bifurcated into standalone hubs, smartphone-based hubs, and services. Among these, the smartphone-based hub segment is expected to grow with the highest CAGR due to increasing smartphone and internet penetration. Based on end-user, the global home health hub is divided into homecare agencies, hospitals, nursing homes & assisted living facilities, and healthcare payers. By end-user, homecare agencies hold the largest share in terms of revenue.

Global Home Health Hub Market: Regional Analysis

North America holds the largest share in terms of revenue in the global home health hub market and is anticipated to grow at a rapid pace during the forecast period. This is attributable to the presence of key players, rising prevalence of chronic disease, increasing geriatric population, and the presence of digitalization in the healthcare sector. The home health hub market in Europe is expected to grow at a steady pace. This is attributable to the necessity to reduce the burden on the healthcare sector which is highly increased due to the covid-19 pandemic and rising demand for enhanced healthcare services. On the other hand, Asia Pacific is estimated to grow with the largest CAGR to become the fastest-growing region in the forthcoming years. Rising interest in health & wellness and the rising trend of digitalization & smart homes are some of the factors contributing to the growth of the home health hub market in this region.

Global Home Health Hub Market: Competitive Players

The global home health hub market is highly competitive. Lamprey Networks, iHealth Lab, Vivify, Honeywell, Qualcomm, MedM, IDEAL LIFE, OnKöl, Hicare, and AMC Health are some of the prominent players operating in the global home health hub market.

Global Home Health Hub Market: Regional Segment Analysis

  • North America
    • The U.S.
    • Canada
  • Europe
    • France
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

What Reports Provides

  • Full in-depth analysis of the parent market
  • Important changes in market dynamics
  • Segmentation details of the market
  • Former, on-going, and projected market analysis in terms of volume and value
  • Assessment of niche industry developments
  • Market share analysis
  • Key strategies of major players
  • Emerging segments and regional markets
  • Testimonials to companies in order to fortify their foothold in the market.

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