Uploaded on Jul 16, 2021
The Home Health Hubs in healthcare market was valued at US$ 188.73 million in 2018 and it is projected to reach US$ 2,008.30 million by 2027; it is expected to grow at a CAGR of 30.1% from 2019 to 2027.
Home Health Hub Market Inclinations & Development Status Highlighted During Forecast Period 2021-2028
Home Health Hub Market
Home Health Hub Market to 2027 - Global
Analysis and Forecasts by Product &
Services (Smartphone-Based, Standalone,
Services); Type of Patient Monitoring (High-
Acuity Patient Monitoring, Moderate-
Acuity Patient Monitoring, and Low-Acuity
Patient Monitoring); End User (Hospitals,
Healthcare Payers and Home Care
Agencies) and Geography
Home Health Hub Market
Current and future Market Scenario
The Home Health Hubs in healthcare market was valued at US$ 188.73 million in 2018 and it is projected to reach US$
2,008.30 million by 2027; it is expected to grow at a CAGR of 30.1% from 2019 to 2027.
Home health hub is a software platform that connects the health caregiver and patient through the patient's electronic
devices and proactively organizes, cares & manages chronic diseases for better outcomes. Significant developments such
as advanced connected home and mobile technologies are increasing efficiency and automation capabilities of data
collection from patients.
This helps to improve hospital and patient connectivity, thereby improving healthcare delivery and quality of care. The
growth of the Home Health Hubs in healthcare market is attributed to the increasing demand for home monitoring
devices and better health outcomes and reduced costs. However, the growth of market is likely to experience restrain
due to cyber threat and rise in data security.
The Home Health Hubs in healthcare market is expected to witness substantial growth post-pandemic. The COVID-19 has
affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The
COVID-19 crisis has overburdened public health systems in many countries and highlighted the strong need for
sustainable investment in health systems. As the COVID-19 pandemic progresses, the healthcare industry is expected to
see a drop in growth. The life sciences segment thrives due to increased demand for invitro diagnostic products and
rising research and development activities worldwide.
Key Findings
However, the medical technologies and imaging segment is witnessing drop in sales due to a smaller number of
surgeries being carried out and delayed or prolonged equipment procurement. Additionally, virtual consultations by
healthcare professionals are expected to become the mainstream care delivery model post-pandemic. With telehealth
transforming care delivery, digital health will continue to thrive in coming years. In addition, disrupted clinical trials and
the subsequent delay in drug launches is also expected to pave the way for entirely virtual trials in the future. New
technologies such as mRNA is expected to emerge and shift the pharmaceutical industry and market is also expected
to witness more vertical integration and joint ventures in coming years.
Market Insights
Growing Applications of Home Health Hubs in Healthcare to Drive Home Health Hubs in Healthcare Market Growth
Home health hubs are a developing zone of the home health technology market, which is also known as home
health gateways. The two major components included in home health hubs are standalone devices, and monitoring
& maintenance services, which include mobile devices such as smartphone or tablet, and wearable devices such as
smart watches. These devices and services use wireless technology to collect information from disparate sources
from connected home medical monitoring equipment and standalone health and wellness devices.
Home Health Hub Market
Dominating Segments
Home medical monitoring programs are intended to help patients with re-hospitalization or frequent emergency room
(ER) visits to receive treatments at home. The aim of home health hub is to reduce hospital trips and length of stays in
hospitals. A home health hub comprises a wide range of health data of a patient from the point of care that includes vital
signs, weight, heart rates, blood sugar, blood oxygen levels, blood pressure, and electrocardiograms. The data can be
transmitted to skilled health professionals in facilities such as hospitals and intensive care units, skilled nursing facilities,
centralized off-site case management programs and monitoring centers. The patients monitored remotely by professionals
are provided with a treatment plan based on the health data information. Many companies are focusing on developing
innovative products. For instance, in January 2014, iHealth Lab Inc., launched three new wearable mobile personal health
products—ambulatory blood pressure monitor (ABPM), wearable pulse oximeter, and wireless ambulatory
electrocardiogram (ECG). Therefore, owing to the abovementioned factors, the demand for home health hubs is
significantly increasing during the forecast period.
The healthcare industry increasingly becomes more advanced and digital through the increasing adoption of telehealth
solutions & applications. Telehealth has the potential to aim the quality of care for improving the health of populations
and also helps to reduce the per capita cost of care.
Home Health Hub Market
Dominating Segments
Increasing investments in telehealth and telemedicine help to reduce the healthcare system costs. Moreover, these
technologies enable to use of telecommunication techniques from health services research to bring about change in the
health insurance and hospital industries. Self-care medical devices such as blood pressure and blood glucose monitoring
kits, and telemetry monitoring for heart conditions, wearable devices also play a vital role in home healthcare. Moreover,
ehealth and mhealth services also play a dynamic role in decreasing overall healthcare spending. For instance, remote
analysis services and remote or mhealth technologies enable highly trained professionals to work as pooled resources
and contribute to lower cost, in turn of higher quality care.
Moreover, the EU mHealth Hub Project is created to support the innovations and upsurge the usage of mobile health
apps by assembling the stakeholders such as governments, start-up companies, young entrepreneurs, and technical
officers. The program includes the development of more practice of smartphones to collect and share the operating
mHealth projects to the other countries within national health systems. It is a collaboration between ITU and WHO, which
was released on 7th August 2017. The project is funded by The European Commission Horizon-2020 2016-2017 Work
Program.
Home Health Hub Market
Market Segments
By Product (Smartphone-Based, Home Health Hubs in
Standalone, Services) Healthcare Market – by Type
of Patient Monitoring(High- Home Health Hubs in Healthcare
Market – by End User (Hospitals,
Acuity Patient Monitoring, ,
Healthcare Payers , Home Care
Moderate-Acuity Patient Agencies,)
Monitoring, Low-Acuity
Patient Monitoring)
Dominating Segments
Product Insights
Product & Services -Based Insights
In terms of product & services, the Home Health Hubs in healthcare market is segmented into smartphone
based, standalone, and services. In 2018, the standalone hub segment held the largest share of the market.
Moreover, smartphone-based hubs segment is expected to register the highest CAGR of 30.7% in the market
during the forecast period.
Type of Patient Monitoring -Based Insights
Based on type of patient monitoring, the Home Health Hubs in healthcare market is segmented into high acuity
patient monitoring, moderate acuity patient monitoring, low acuity patient monitoring. In 2018, the high-acuity
patient monitoring segment held the largest share of the market. Moreover, moderate-acuity patient
monitoring segment is expected to register the highest CAGR of 30.6% in the market during the forecast period.
End User-Based Insights
In terms of end user, the Home Health Hubs in healthcare market is segmented into hospitals, healthcare payers
and home care agencies. In 2018, the hospital segment held the largest share of the market. Moreover, it is
expected to register the highest CAGR of 30.5% in the market during the forecast period.
Dominating Segments
Strategic Insights
The Home Health Hubs in healthcare market players are adopting the product launch and expansion
strategies to cater to changing customer demands worldwide, which also allows them to maintain
their brand name globally.
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Dominating Segments
Home Health Hubs in Healthcare Market – by Product & Services
Smartphone-Based
Standalone
Services
Home Health Hubs in Healthcare Market – by Type of Patient Monitoring
High-Acuity Patient Monitoring,
Moderate-Acuity Patient Monitoring
Low-Acuity Patient Monitoring
Home Health Hubs in Healthcare Market – by End User
Hospitals
Healthcare Payers
Home Care Agencies
Home Health Hub Market
Leading Players
Company Profiles in Home Health Hub Market are:
OnKöl, INSUNG INFORMATION CO,LTD.
IDEAL LIFE INC.
iHealth Labs Inc.
Honeywell International Inc.
Vivify Health, Inc.
Capsule Technologies Inc. (QUALCOMM LIFE, INC.)
MedM
SENSATO CYBERSECURITY SOLUTIONS
CISCO SYSTEMS, INC
REGIONAL FRAMEWORK
REGIONAL FRAMEWORK
Home Health Hub Market
Home Health Hub Market
Access Full Research Report at:
https://www.theinsightpartners.com/reports/home-health-hubs-market
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