Global Home Health Hub Market Size Is Set to Hit $987.9 Million by 2028, at a CAGR of 28.70% in Healthcare Service Field

Houston, TX, Feb. 06, 2023 (GLOBE NEWSWIRE) -- According to Zion Market Research has published a new research report titled “Home Health Hub Market By Product & Services (Standalone Hub, Mobile Hub, Remote Patient Monitoring Service), By Patient Monitoring (High, Moderate, And Low Acuity), By End-Use (Hospital, Payers, Home Care Agency), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028” in its research database.

“According to the latest research study, the demand of global Home Health Hub Market size & share in terms of revenue was valued at USD 217.40 million in 2021 and it is expected to surpass around USD 987.9 million mark by 2028, growing at a compound annual growth rate (CAGR) of approximately 28.70% during the forecast period 2022 to 2028.”

What is Home Health Hub? How big is the Home Health Hub Industry?

Home Health Hub Report Coverage & Overview:

The market for home health technology will include a larger share of the global home health hub industry. These gadgets and software programs employ Bluetooth communication to gather and examine data from a variety of home health monitoring systems, including connected blood pressure monitors, stand-alone fitness bands, linked scales, and sleep monitors. The capacity of the health hubs to transfer data to the cloud or an electronic health records system aids in analyzing the gathered data even for future applications. The increasing use of smartphones around the world, as well as the rising amount of life of luxury and infectious illnesses, are likely to have a substantial impact on the consumption of home health hubs over the projection period.

The technology facilitates electronic health records, remote patient monitoring, telehealth, and virtual healthcare delivery. Wireless connectivity is used by the software and hardware in the home health hub to aggregate data from various sources, including wearables, independent health & wellness devices, and home monitoring equipment.

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Global Home Health Hub Market: Growth Dynamics

The use of home care hubs is becoming more popular among consumers. The global home health hub market is predicted to develop due to a rise in the number of chronic diseases and an increase in the elderly population. Furthermore, the growing demand to cut healthcare expenses and the expanding use of phones are factors driving the growth of this market. The limited bandwidth in several developing or rising countries, as well as the epidemic of Covid-19, have placed a significant load on the healthcare sector, resulting in a variety of market issues.

The home health hub market refers to the market for devices, systems, and services that provide remote monitoring, management, and support for individuals receiving care at home. This market encompasses a wide range of technologies and services, including telehealth systems, wearable devices, home medical devices, and cloud-based health data platforms. The growth of the home health hub market is driven by factors such as the increasing demand for home-based care, the need to reduce healthcare costs, and the growing availability of connected health technologies. The market is expected to grow rapidly in the coming years, as more individuals prefer to receive care at home and as healthcare systems look to improve the quality and efficiency of care delivery.

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Report Scope

Home Health Hub Market: Segmentation Analysis

The global home health hub market is segregated based on product monitoring type, end-users, product, and region. Based on product monitoring type, the market is divided into low-acuity, moderate-acuity, and high-acuity patient. Among these, the high equity segment dominated the market in 2021. Based on end-user, the market is classified into homecare agencies, hospitals, nursing homes & assisted living facilities, and healthcare payers. Over the forecast period, the home care agencies market is expected to develop at the fastest rate. Based on product & services, the market is classified into standalone, smartphone-based hubs, and services. The smartphones-based hubs segment dominated the market in 2021.

The global Home Health Hub market is segmented as follows:

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

Browse the full “Home Health Hub Market By Product & Services (Standalone Hub, Mobile Hub, Remote Patient Monitoring Service), By Patient Monitoring (High, Moderate, And Low Acuity), By End-Use (Hospital, Payers, Home Care Agency), And By Region - Global And Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, And Forecasts 2022 – 2028” Report at https://www.zionmarketresearch.com/report/home-health-hub-market

Competitive Landscape

Some of the main competitors dominating the global Home Health Hub market include - 

• Qualcomm
• Honeywell
• Vivify
• Lamprey Networks
• AMC Health
• health Lab
• IDEAL LIFE
• HI care
• Med
• Nook

Key Insights from Primary Research:

• According to the analysis shared by our research forecaster, the Home Health Hub market is likely to expand at a CAGR of around 28.70% during the forecast period (2022-2028).                                
• In terms of revenue, the Home Health Hub market size was valued at around US$ 217.40 million in 2021 and is projected to reach US$ 987.9 million by 2028.
• The increased usage of smartphones around the world, a rise in the number of lifestyle-related and chronic diseases, and an increase in the senior population are likely to drive the market.
• By end user, the home care agencies segment accounted for the largest market share in 2021
• By product monitoring type, the high equity health monitoring segment is expected to hold the highest share in the market in 2021.
• The Asia Pacific dominated the global home health hub market in 2021.

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Key questions answered in this report:

• What is the market size and growth rate forecast for Home Health Hub industry?
• What are the main driving factors propelling the Home Health Hub Market forward?
• What are the leading companies in the Home Health Hub Industry?
• What segments does the Home Health Hub Market cover?
• How can I receive a free copy of the Home Health Hub Market sample report and company profiles?

Key Offerings:

• Market Size & Forecast by Revenue | 2022−2028
• Market Dynamics – Leading Trends, Growth Drivers, Restraints, and Investment Opportunities
• Market Segmentation – A detailed analysis By Product & Service, By Type of Patient Monitoring, By End User, and By Region
• Competitive Landscape – Top Key Vendors and Other Prominent Vendors

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Regional Analysis:

The global home health hub market is divided into geographic regions: North America, Latin America, Europe, Asia Pacific, Middle East, and Africa. Asia Pacific grew at the highest rate in the market in 2021. Increased trends in health and wellness, as well as the growing trend of digitization & smart homes, are some of the factors responsible for the growth of this region's home health hub market. The healthcare industry in these countries still follows a traditional paradigm of healthcare delivery; however, this is increasingly changing as health awareness grows, demand for better healthcare services grows, and smartphone usage grows. As telehealth becomes more widespread in these countries' healthcare infrastructures, the demand for better remote health monitoring technology is likely to skyrocket.

The Asia Pacific regional market is expected to be the fastest-growing regional market during the forecast period. The changing consumption patterns, increased chronic disease instances, and high healthcare spending are all driving the home health hub market's growth.

By Region

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

Recent Developments

• September 2020, Sensate Cybersecurity Solutions launched a cyber-security program for critical access and rural hospitals. This program provides rural hospitals with an integrated security platform to the hospitals in the rural regions, which covers servers, networks, medical devices, and related devices.
• March 2022, VEON Ltd. a global provider of connectivity and internet services, announces that its Banglalink mobile operator in Bangladesh has launched Health Hub, the country's first integrated digital health platform.

To know an additional revised 2022 list of market players, request a brochure of the report: https://www.zionmarketresearch.com/requestbrochure/home-health-hub-market

FREQUENTLY ASKED QUESTIONS

• Which key factors will influence home health hub market growth over 2022-2028?
• What will be the value of the home health hub market during 2022-2028?
• Which region will contribute notably towards the home health hub market value?
• Which are the major players leveraging the home health hub market growth?

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