Global Home Health Hubs Market Report 2021-2027 - Increased Emphasis on Remote Patient Monitoring Creates Fertile Environment for Growth

News provided by

Jun 29, 2021, 08:15 ET

DUBLIN, June 29, 2021 /PRNewswire/ -- The "Home Health Hubs - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

Global Home Health Hubs Market to Reach US$3 Billion by the Year 2027

Amid the COVID-19 crisis, the global market for Home Health Hubs estimated at US$357.4 Million in the year 2020, is projected to reach a revised size of US$3 Billion by 2027, growing at a CAGR of 35.8% over the analysis period 2020-2027.

Standalone Hub, one of the segments analyzed in the report, is projected to grow at a 33.9% CAGR to reach US$1.2 Billion by the end of the analysis period.

After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Mobile Hub segment is readjusted to a revised 39.7% CAGR for the next 7-year period. This segment currently accounts for a 22.5% share of the global Home Health Hubs market.

The U.S. Accounts for Over 49.4% of Global Market Size in 2020, While China is Forecast to Grow at a 42.8% CAGR for the Period of 2020-2027

The Home Health Hubs market in the U.S. is estimated at US$176.7 Million in the year 2020. The country currently accounts for a 49.43% share in the global market. China, the world second largest economy, is forecast to reach an estimated market size of US$285.9 Million in the year 2027 trailing a CAGR of 42.8% through 2027.

Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 30.3% and 34.7% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 31.4% CAGR while Rest of European market (as defined in the study) will reach US$285.9 Million by the year 2027.

Services Segment Corners a 35.5% Share in 2020

In the global Services segment, USA, Canada, Japan, China and Europe will drive the 35.7% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$107.8 Million in the year 2020 will reach a projected size of US$914 Million by the close of the analysis period.

China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$212.4 Million by the year 2027, while Latin America will expand at a 30.7% CAGR through the analysis period.

Key Topics Covered:

I. METHODOLOGY

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

An Introduction to Home Health Hub
Impact of Covid-19 and a Looming Global Recession
The Race Between the Virus & Vaccines Intensifies. Amidst this Chaotic Battle, Where is the World Economy Headed in 2021?
How the Healthcare Industry Has & Continues to be Impacted by the Pandemic & What's the New Normal?
The Pandemic Triggers Shift in Consumer Behaviour & Engagement With Healthcare Technologies & Services
Healthcare Industry Pushed to Adopt Digital Technologies & Innovate to Save Lives Amid the Crisis
Homes Become Wellness Centres
Impact of COVID-19 on Home Health Hub
Shift Driven by New Care Settings
Shift Driven by Advanced Technology
Shift to Evolve New Hospital Settings
The Journey from Smart Home to Home Health Hub
Smart Displays for Tracking Sleep
Home Health Hub: Current Market Scenario and Outlook
While Developed Regions Remain Primary Revenue Contributors, Developing Regions Emerge as Hot Spots for Future Growth
Standalone Hubs Constitutes the Largest Product Segment
Bright Prospects Ahead for Mobile Hubs
High-Acuity Patient Monitoring Steers Home Health Hub Deployments
Hospitals: Largest End-Use Market
Healthcare Hubs in the Post-Covid Era
Shifting Care into Homes Results in Better Symptom Improvement for COVID-19 Patients
Coronavirus Pandemic Poses Challenges for Home Healthcare Workers
Telehealth Holds Potential to Offer Significant Benefits
Teleworking Spurs Home Fitness Trend
Recent Market Activity
Recent Initiatives in the Home Health Hub Market Space
2021: Google Adds Sleep Tracking Feature to Nest Hub
2020: Elsevier Introduces Covid-19 Healthcare Hub
2020: Omcare Launches Home Health Hub
2021: Home Health Hub of CVS Health
2018: The Durham College AI Hub Partners with iCare Home Health for Advancing Home Care

2. FOCUS ON SELECT PLAYERS

AMC Health
Cambridge Consultants
Capsule Technologies, Inc.
Cisco Systems, Inc.
eDevice
Encompass Health Corp.
Honeywell International Inc.
Ideal Life, Inc.
Inhealthcare
Lamprey Networks
MedM, Inc.
MyVitalzT, LLC
Philips Healthcare
Resideo Life Care Solutions
Vivify Health, Inc.

3. MARKET TRENDS & DRIVERS

Home Health Hubs and Smart Homes Facilitate Continued Care Co-ordination between Primary Healthcare Systems and ACSs (2020)
Increased Emphasis on Remote Patient Monitoring Creates Fertile Environment for Growth of Home Health Hub Market
Rise of Healthcare IOT Further Augments Remote Patient Monitoring
Remote Patient Monitoring Seeks Role in Healthcare Big Data Programs
Patient Non-Adherence to Prescribed Medication Promotes Market Growth
Shortage of Healthcare Professionals & Need to Reduce Healthcare Costs Puts Spotlight on Home Health Hubs
Rapidly Evolving Role of Home Telehealth Instigates Broad-based Opportunities
Advent of Sophisticated Healthcare IT Tools Pave Way for Wider Use
Growing Lenience towards Value-Based, Patient-Centric Care and Outcomes Augurs Well
High Tech Sensors & Wearable Med Tech Innovations Amplify Capabilities of Home Health Hub
Focus on Reducing Hospital Readmissions Provides Impetus to Home Health Hub Solutions
Smart Homes as Portals for Healthcare Delivery Help Expand the Addressable Opportunity for Home Health Hub Products & Services
Home Health Hub: A Boon for Immobile Patients
Rising Population of Aged People and their Vulnerability to Chronic Diseases: Strong Business Case
Expanding Middle Class Population Supports Growth in Developing Regions
Internet Connectivity and Expanding Penetration Rate Influences Demand for Home Health Hubs
Issues & Challenges
Security & Privacy Concerns
Lack of Awareness & Availability
Reimbursement Issues in the US

4. GLOBAL MARKET PERSPECTIVE

III. REGIONAL MARKET ANALYSIS

IV. COMPETITION

Total Companies Profiled: 53

For more information about this report visit https://www.researchandmarkets.com/r/uea2ei

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1904
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets