Report Id: SNS/HC/2370 | July 2022 | Region: Global | 125 Pages
Report Scope & Overview:
The Home Health Hub Market Size was valued at USD 622.75 million in 2022, and expected to reach USD 5568 million by 2030, and grow at a CAGR of 31.5% over the forecast period 2023-2030.
Home health hub market make up the largest portion of the market. Information from various sources is gathered by these devices through wireless networking. In order to collect data from wired and wireless healthcare equipment that are commercially accessible, such as pulse oximeters and blood pressure monitors, the devices support a variety of connecting options. Additionally, they offer connectivity so that users can share the data with a remote device with a display, including a laptop, tablet, or smartphone, or through the cloud, in order to take action with the information that has been collected. While enhancing patient outcomes, its main objective is to lower healthcare expenditures.
Expanding Geriatric Population and Associated Rise in Chronic Disease Prevalence
Medical Cost Reduction is Required
Medical Professionals in Short Supply
Security and Privacy Issues
Payment Problems in the US
Expanding Market for Remote Patient Monitoring
Growing Interest in Health and Wellness Tracking
In underdeveloped and developing nations, there is a lack of internet access.
Unavailability and lack of knowledge
IMPACT OF COVID-19
Hospitals and health care systems that were overcrowded and overworked had some difficulties due to the COVID-19 epidemic. While reducing the stress on hospitals, emergency rooms, and key health workers in times of violence, home health center technology has helped patients stay safe in their homes, having a positive impact on the market. Since the onset of the Covid-19 epidemic, home care has been urgently needed to alleviate overcrowding in hospitals and to allow patients with chronic illness or malnourished Covid-19 to be cared for and cared for at home, according to a study entitled. The Lancet Regional Health article "The Impact of COVID-19 on Home Health Services, Caregivers, and Patients: Lessons from the French Experience" Therefore, COVID-19 meaningfully affects the home medical care area.
By Product & Service
Mobile-based hubs, standalone hubs, and services make up the three segments of the global home health hub market. Smartphone-Based Hubs are a thriving market segment that currently holds the biggest market share in the industry due to the rise in the use of digital platform smartphones.
By Type of Patient Monitoring
Three segments of high-, moderate-, and low-acuity patient monitoring were identified in the global home health hub market. Due to its equity nurses and competent, rapid, and professional service, the high equity patient monitoring category is currently the market leader in terms of market share and revenue. In contrast, there is little demand for patient monitoring services with a moderate or low level of acuity.
By End User
Hospitals, nursing homes and assisted living facilities, home-based care centers, and health care providers cover four quarters of the global health hub market. As another comforting way to stay home, home care organizations with a large market share in the sector provide care. Market expansion is expected to be supported during the forecast period by introducing lucrative home care insurance agencies.
Some of the major key players are as follows: AMC Health, Honeywell, IDEAL LIFE, MedM, iHealth Lab, Hicare, Lamprey Networks, OnKöl, Qualcomm, Vivify.
By Product & Service
By Type of Patient Monitoring
High-acuity Patient Monitoring
Moderate-acuity Patient Monitoring
Low-acuity Patient Monitoring
By End User
Home Care Agencies
Nursing Homes & Assisted Living Facilities
North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa comprise the segments of the global market for home health hubs. The home health hub industry was dominated by North America, with Europe coming in second. The high adoption of cutting-edge technology, the prevalence of chronic and lifestyle diseases, rising healthcare expenses, the physician shortage, and the rising demand for better healthcare services are just a few of the reasons why North America holds such a sizable portion of the worldwide market.
Rest of Europe
Rest of Asia-Pacific
The Middle East & Africa
Rest of Middle East & Africa
Rest of Latin America
|Market Size in 2022||US$ 622.75 Million|
|Market Size by 2030||US$ 5568 Million|
|CAGR||CAGR of 31.5% From 2023 to 2030|
|Report Scope & Coverage||Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook|
|Key Segments||• By Product & Service (Standalone Hubs, Smartphone-based hubs, Services)
• By Type of Patient Monitoring (High-acuity Patient Monitoring, Moderate-acuity Patient Monitoring, Low-acuity Patient Monitoring)
• By End User (Hospitals, Healthcare Payers, Home Care Agencies, Nursing Homes & Assisted Living Facilities)
|Regional Analysis/Coverage||North America (USA, Canada, Mexico), Europe
(Germany, UK, France, Italy, Spain, Netherlands,
Rest of Europe), Asia-Pacific (Japan, South Korea,
China, India, Australia, Rest of Asia-Pacific), The
Middle East & Africa (Israel, UAE, South Africa,
Rest of Middle East & Africa), Latin America (Brazil, Argentina, Rest of Latin America)
|Company Profiles||AMC Health, Honeywell, IDEAL LIFE, MedM, iHealth Lab, Hicare, Lamprey Networks, OnKöl, Qualcomm, Vivify.|
|DRIVERS||• Expanding Geriatric Population and Associated Rise in Chronic Disease Prevalence
• Medical Cost Reduction is Required
• Medical Professionals in Short Supply
|RESTRAINTS||• Security and Privacy Issues
• Payment Problems in the US
Frequently Asked Questions (FAQ) :
Home Health Hub Market Size was valued at USD 473.6 million in 2021, and expected to reach USD 3220.6 million by 2028, and grow at a CAGR of 31.5% over the forecast period.
Expanding Market for Remote Patient Monitoring, and Growing Interest in Health and Wellness Tracking are the opportunities of the Home Health Hub market.
The market is divided in three segments By Product & Service, By Type of Patient Monitoring, and By End User.
COVID-19 has positive impact on the Home Health Hub Market.
Manufacturer and service provider, research institutes, university and private libraries, suppliers and distributers.
Table of Content:
1.1 Market Definition
1.3 Research Assumptions
2. Research Methodology
3. Market Dynamics
4. Impact Analysis
4.1 COVID-19 Impact Analysis
4.2 Impact of Ukraine- Russia war
4.3 Impact of ongoing Recession
4.3.2 Impact on major economies
126.96.36.199 United Kingdom
188.8.131.52 South Korea
184.108.40.206 Rest of the World
5. Value Chain Analysis
6. Porter’s 5 forces model
7. PEST Analysis
8. Home Health Hub Market Segmentation, By Product & Service
8.1 Standalone Hubs
8.2 Smartphone-based hubs
9. Home Health Hub Market Segmentation, By Type of Patient Monitoring
9.1 High-acuity Patient Monitoring
9.2 Moderate-acuity Patient Monitoring
9.3 Low-acuity Patient Monitoring
10. Home Health Hub Market Segmentation, By End User
10.2 Healthcare Payers
10.3 Home Care Agencies
10.4 Nursing Homes & Assisted Living Facilities
11. Regional Analysis
11.2 North America
11.3.6 The Netherlands
11.3.7 Rest of Europe
11.4.2 South Korea
11.4.6 Rest of Asia-Pacific
11.5 The Middle East & Africa
11.5.3 South Africa
11.6 Latin America
11.6.3 Rest of Latin America
12.1 AMC Health
12.1.2 Products/ Services Offered
12.1.3 SWOT Analysis
12.1.4 The SNS view
12.6 iHealth Lab
12.8 Lamprey Networks
13.1 Competitive Benchmark
13.2 Market Share analysis
13.3 Recent Developments
An accurate research report requires proper strategizing as well as implementation. There are multiple factors involved in the completion of good and accurate research report and selecting the best methodology to compete the research is the toughest part. Since the research reports we provide play a crucial role in any company’s decision-making process, therefore we at SNS Insider always believe that we should choose the best method which gives us results closer to reality. This allows us to reach at a stage wherein we can provide our clients best and accurate investment to output ratio.
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The 5 steps process:
Step 1: Secondary Research:
Secondary Research or Desk Research is as the name suggests is a research process wherein, we collect data through the readily available information. In this process we use various paid and unpaid databases which our team has access to and gather data through the same. This includes examining of listed companies’ annual reports, Journals, SEC filling etc. Apart from this our team has access to various associations across the globe across different industries. Lastly, we have exchange relationships with various university as well as individual libraries.
Step 2: Primary Research
When we talk about primary research, it is a type of study in which the researchers collect relevant data samples directly, rather than relying on previously collected data. This type of research is focused on gaining content specific facts that can be sued to solve specific problems. Since the collected data is fresh and first hand therefore it makes the study more accurate and genuine.
We at SNS Insider have divided Primary Research into 2 parts.
Part 1 wherein we interview the KOLs of major players as well as the upcoming ones across various geographic regions. This allows us to have their view over the market scenario and acts as an important tool to come closer to the accurate market numbers. As many as 45 paid and unpaid primary interviews are taken from both the demand and supply side of the industry to make sure we land at an accurate judgement and analysis of the market.
This step involves the triangulation of data wherein our team analyses the interview transcripts, online survey responses and observation of on filed participants. The below mentioned chart should give a better understanding of the part 1 of the primary interview.
Part 2: In this part of primary research the data collected via secondary research and the part 1 of the primary research is validated with the interviews from individual consultants and subject matter experts.
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