Home Health Hub Market Set Grow at 31.2% CAGR and to Reach US$ 848.2 Million by 2023 Growth Estimated by Standalone Hub, Mobile Hub, Remote Patient Monitoring Service and Applications
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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 like rising geriatric population & subsequent increase in prevalence of chronic diseases, growing need to reduce healthcare costs while improving patient outcomes, & shortage of healthcare professionals are driving growth of home health hubs market. In-depth assessment of market shares, growth strategies, & products of leading players in home heath hubs market. Factors like increasing geriatric population & subsequent increase in prevalence of chronic diseases, need to reduce healthcare costs, & shortage of healthcare professionals are major factors driving growth of the market.
Report analyzes various home health hubs and their adoption patterns. It aims at estimating market size and future growth potential of home health hubs market for different segments like product & service, type of patient monitoring, end user, & region. Report also includes an in-depth competitive analysis of key players in market along with their company profiles, product offerings, recent developments, & key market strategies.
Objectives of the Study
• To define, describe, segment and forecast the global market on the basis of product and service, type of patient monitoring, end user, and region.
• To forecast the size of the market with respect to five main regions, namely, North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa.
• To provide detailed information regarding the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To analyze micromarkets with respect to individual growth trends, prospects, and contributions to the overall market.
• To analyze the opportunities in the market for stakeholders and provide details of the competitive leadership mapping for market leaders.
• To profile key players in the home health hub market and comprehensively analyze their core competencies and market shares To track and analyze competitive developments such as acquisitions, product launches, collaborations, partnerships, and agreements in the market.
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Home health gateway market is classified high-acuity patient monitoring, moderate-acuity patient monitoring, and low-acuity patient monitoring. The high-acuity patient monitoring segment accounted for the largest share of home health hub market in 2017. Large share can be attributed to the growing geriatric population and high prevalence of chronic diseases.
Key Target Audience
• Original equipment manufacturers (OEMs)
• Home health hub-related service providers
• Remote patient monitoring related associations, organizations, forums, and alliances
• Government bodies, such as regulating authorities and policy makers
• Venture capitalists and start-ups
• Semiconductor component and raw material suppliers
• Home health hub distributors and sales firms
• Home health hub device end users
• Research institutes, organizations, and consulting companies
• Healthcare service providers
• Home health hub software and service providers
• Business research and consulting firms
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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.
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.
Break of primary participants was as mentioned below:
• By Company Type – Tier 1–21%, Tier 2–45% and Tier 3–34%
• By Designation – C-level–39%, Director Level–32%, Others–29%
• By Region – North America–47%, Europe–29%, Asia Pacific–14%, Rest of the World–10%
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