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Home Health Hub Market by Product & Service, Type of Patient Monitoring, End User - Global Forecast to 2023

Home Health Hub Market: Global Forecast until 2023

  • May 2018
  • 123 pages
  • ID: 5399278
In this report:
According to GSMA Intelligence, smartphone adoption in the Middle East & North Africa and Sub-Saharan Africa was ##% and ##%, respectively, in 2017; these figures are expected to rise to ##% and ##%, respectively, by the end of 2025.
According to Eurostat, in 2016, the geriatric population accounted for a share of ##.##% of the total population in Europe-registering a ##.##% increase as compared to 2015.

Summary

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The overall home health hubs market forecasted to grow at a CAGR (Compound annual growth rate) of 31.20 percent.

The home health hubs market is forecasted to reach $848.20M by 2023 from $218.50M in 2018, at a compound annual growth rate (CAGR) of 31.20 percent.

Elements such as the growing geriatric population and the subsequent growth in the prevalence of chronic diseases, increasing need to minimize healthcare costs while improving patient outcomes, and shortage of healthcare professionals are driving the rise of the home health hubs market. Nevertheless, the security and privacy concerns combined with these devices are anticipated to restrain the increase of this market to a certain extent.

The smartphone-based hubs segment is projected to record the maximal CAGR (Compound annual growth rate) during the estimate period.

On the basis of product and service, the home health hubs market is divided into standalone hubs, smartphone-based hubs, and home health hub services.The smartphone-based hubs segment is expected to record the maximal compound annual growth rate (CAGR) during the outlook period.

The fast growth in the smartphone sector, growing utilization of mobile platforms to enhance the accessibility to patient information, increasing awareness about smartphone-based health applications, and the increasing adoption of smartphone-enabled home health hubs are the main factors driving the increase of this segment.

The home care agencies segment is anticipated to rise at the highest CAGR (Compound annual growth rate) from 2018 to 2023.

Established on end-user, the home health hubs market is broken down into hospitals, healthcare payers, home care agencies, and nursing homes & assisted living facilities.The home care agencies segment is projected to register the highest compound annual growth rate (CAGR) during the estimate period.

The important increase in this industry segment is primarily attributed to the rising reliance of patients on telehealth solutions, including remote monitoring via phones and the Internet to manage their health conditions. Governments in a number of countries are implementing several initiatives to foster home healthcare, which is also anticipated to further drive the rise of home care agencies segment in the next years.

Asia-Pac is forecasted to witness the highest increase during the outlook period.

North America (NA) held the biggest share of the overall home health hubs market in 2017. On the other hand, The Asia Pacific market is anticipated to grow at the maximal rate due to the increasing per capita income, growing health awareness, increasing demand for remote patient monitoring and better healthcare services, and rising penetration of smartphones in different APAC countries.

Break of primary members taking part was as mentioned below:

• By Company category - Tier 1 - 21.0 percent, Tier 2 - 45.0 percent and Tier 3 - 34.0 percent

• By Description - C-suite - 39.0 percent, D-level - 32.0 percent, Others - 29.0 percent

• By Area - North America continent - 47.0 percent, Europe (EU) - 29.0 percent, Asia Pacific (APAC) - 14.0 percent, Rest of the globe - 10.0 percent

Major players in this industry are Qualcomm, Honeywell, Vivify, Lamprey Networks, AMC Health, iHealth Lab, IDEAL LIFE, Hicare, MedM, and OnKöl.

Segment Research

The market research examines the different home health hubs and their adoption patterns.It aims at evaluating the market value and future increase potential of the overall home health hubs market for distinct segments including product and service, type of patient monitoring, final user, and area.

The industry report also comprises an detailed competitive review of top actors in this sector together with their company descriptions, product offerings, latest developments, and key industries strategies.

Reasons to Buy the Report

The study will increase established companies as well as new entrants/smaller companies to measure the pulse of the sector. Companies obtaining the analysis could use one or any combination of the below-mentioned five strategies for strengthening the market, which in turn could help them collect a larger market share.

This industry report offers business insights on these pointers:

• Market Uptake: Exhaustive data on product types provided by the top actors in the overall home health hubs market. The market research examines the overall home health hubs market by product and service, type of patient monitoring, end-user, and area.

• Product Development/Innovative products: In-depth understanding on upcoming trends and launches of new product in the overall home health hubs market

• Market Development: Highlighted information on the lucrative emerging regions by product and service

• industry diversification: Complete information about recent products, increasing geographies, and recent evolutions in the overall home health hubs market

• opposing assessment: Detailed assessment of market shares, increase strategies, and products of leading actors in the overall home heath hubs market

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