About Home Health Hub
The home health hubs market is expected to grow in the future due to the rising patient engagement & care management and extensive use of software solutions by healthcare providers in developed as well as developing countries. The growth of the healthcare IT sector and the integration of mobile technologies for its application in-home healthcare are expected to detain the growth of this market to a certain level. These devices use wireless connectivity to aggregate information from disparate sources. The devices allow multiple connectivity options to obtain data from commercially available wired and wireless healthcare devices such as pulse oximeters, blood pressure monitors, and many others. Further, they provide connectivity to take action with collected data by sharing it through a remote device with a display such as a smartphone, PC, tablet, or through the cloud.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 31.3% |
The competitive landscape, you can gain insights into the key players, their strengths and weaknesses, and the evolving trends that will shape the future of the home health hub market. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Home Health Hub market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Qualcomm Incorporated (United States), Lamprey Networks (United States), Vivify Health, Inc. (United States), iHealth Lab (United States), AMC Health (United States) and Honeywell International (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are Ideal Life Inc. (United States), Hicare (United States), Medm Inc (United States) and Onkol (United States).
Segmentation Overview
AMA Research has segmented the market of Global Home Health Hub market by Type (Standalone Hubs, Smartphone-based hubs and Services (Remote Patient Monitoring Services, Support & Maintenance Services)) and Region.
On the basis of geography, the market of Home Health Hub has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Patient Monitoring, the sub-segment i.e. High-acuity Patient Monitoring will boost the Home Health Hub market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End User, the sub-segment i.e. Hospitals will boost the Home Health Hub market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Integration of Mobile Technologies with Home Healthcare
Market Growth Drivers:
Growth in the Geriatric Population and Increasing the Prevalence of Chronic Diseases
Challenges:
Lack of Awareness & Availability in Developing Countries
Restraints:
Security & Privacy Concerns
Opportunities:
Growth in Remote Patient Monitoring Market and Increased Interest in Health and Wellness Tracking
Market Leaders and their expansionary development strategies
In November 2023, Royal Philips and NYU Langone Health, the nation’s top-ranked academic medical center announced an 8-year strategic partnership valued up to USD 115 million and aimed at enhancing patient care through further innovation. With the new technologies, NYU Langone clinicians can collaborate in real-time, whether sharing pathology, imaging studies or patient data to support diagnostic confidence and tailor individualized care plans. This integrated, collaborative approach will serve as part of a drive to further enhance the patient experience through faster diagnosis and treatment, and improved outcomes.
In October 2023, Ōmcare announced that it is launching the Ōmcare Home Health Hub®, an all-in-one, customizable home health platform that allows care providers to extend care into the home via a secure infrastructure with one-touch access to telehealth services, aggregated remote patient monitoring, and medication dispensing with visual confirmation of dose-level medication adherence.
Key Target Audience
Home health hub software and service providers, Home health hub distributors and sales firms, Home health hub device end-users, Venture capitalists and start-ups, Research institutes, Government bodies and Healthcare service providers
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.