Home Health Hub Market

Home Health Hub Market by Product & Service (Standalone Hub, Mobile Hub, Remote Patient Monitoring Service), Type of Patient Monitoring (High, Moderate, and Low Acuity), End User (Hospital, Payers, Home Care Agency) - Global Forecast to 2023

Report Code: HIT 6275 May, 2018, by marketsandmarkets.com

[122 Pages Report] The home health hubs market is expected to reach USD 848.2 Million by 2023 from USD 158.4 Million in 2017, at a CAGR of 31.2% during the forecast period. The base year considered for the study is 2017 and the forecast period is from 2018 to 2023.

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

Research Methodology

Top-down and bottom-up approaches were used to validate the size of the global home health hub market and estimate the size of other dependent submarkets. Various secondary sources such as directories, industry journals, databases such as Bloomberg Business, Factiva, and Dun & Bradstreet; white papers; annual reports; company house documents; and SEC filings of the companies have been used to identify and collect information useful for the study of this market. Primary sources such as experts from both supply and demand sides have been interviewed to obtain and validate information as well as to assess the dynamics of this market. The breakdown of profiles of primaries is shown in the figure below:

Home Health Hubs Market

To know about the assumptions considered for the study, download the pdf brochure

Some of the prominent players in this market are Qualcomm (US), Honeywell (US), Vivify (US), Lamprey Networks (US), AMC Health (US), iHealth Lab (US), IDEAL LIFE (US), Hicare (US), MedM (US), and OnKφl (US).

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

Scope of the Report

The research report categorizes the market into the following segments and subsegments:

Home Health Hub Market, by Product & Service

  • Standalone Hubs
  • Smartphone-based hubs
  • Services
    • Remote Patient Monitoring Services
    • Support & Maintenance Services

Home Health Hub Market, by Type of Patient Monitoring

  • High-acuity Patient Monitoring
  • Moderate-acuity Patient Monitoring
  • Low-acuity Patient Monitoring

Home Health Hub Market, by End User

  • Hospitals
  • Healthcare Payers
  • Home Care Agencies
  • Nursing Homes & Assisted Living Facilities

Home Health Hub Market, by Region

  • North America
    • US
    • Canada
  • Europe
    • UK
    • Germany
    • Rest of Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa

Available Customization

With the given market data, MarketsandMarkets offers customizations as per the company’s specific needs. The following customization options are available for the report:

Product Analysis

Product matrix which gives a detailed comparison of the product portfolios of the top companies

Geographic Analysis

Further breakdown of the European home health gateway market into Spain and Italy and APAC Market into Japan and China

Company Information

Detailed analysis and profiling of additional market players (Up to 5)

Telehealth-Based Clinical Trials – Future of Clinical Trial Management and a Growth Opportunity for Home Health Hubs Market

Telehealth-based clinical trials are a new concept in the healthcare industry intended to accelerate healthcare research. Telehealth technologies help speed up clinical trial recruitment by expanding patient reach to those living far from the study site. In addition, telehealth-based clinical trials also reduces patient time & travel burden, which in turn improves patient retention for the trial. Although the concept is new, pilot studies have shown positive results such as improved patient connectivity, FDA submissions, and study efficacy. Public-funded clinical studies (Phase III) in countries, such as the US and UK, implementing telehealth services have shown positive results. As home health hubs are basic equipment of telehealth-based clinical trials, the growing concept of telehealth-based clinical trials likely to propel further growth of the home health hubs market.

Remarkable Smartphone Penetration Globally to Drive the Global Smartphone-Based Home Health Hubs Demand to USD 295 million By 2023

Smartphone-based hubs depend on mobile applications (Android, iOS, Linux, and Windows) that can be downloaded to dedicated smartphones and tablets. Today, smartphones and tablets are used as the primary source of internet connectivity in developed regions; and their adoption is on the rise in emerging countries as well. Greater penetration of smartphones and the continued expansion of high-speed mobile networks are driving increasing utilization of mobile platform to improve the accessibility of patient information. With growing awareness and accessibility, there is higher growth anticipated for smartphone-enabled home health hubs by 2023.

Home Health Hubs Market

Asia Pacific Countries Showcase High Growth Potential for Home Health Hubs Market

Countries in the APAC region, such as China and India have shown remarkable economic growth in the past decade, and are likely to surpass many developed countries in the coming years. Although, the healthcare industry in these countries still follows a traditional model of healthcare delivery; the situation is gradually changing with growing health awareness, increasing demand for better healthcare services, and increasing penetration of smartphones. As telehealth becomes more prevalent in the healthcare infrastructure of these countries, the demand for better remote patient monitoring technologies is expected to grow multi-fold. This in turn will create significant growth potential for home health hubs in APAC region over the coming years.

Home Health Hubs Market

Market Dynamics

  • Drivers
    • Growth in the geriatric population and the subsequent increase in the prevalence of chronic diseases
    • Need to reduce healthcare costs
    • Shortage of healthcare professionals
  • Restraints
    • Security & privacy concerns
    • Reimbursement issues in the US
  • Opportunities
    • Growing remote patient monitoring market
    • Increased interest in health and wellness tracking
  • Challenges
    • Poor internet availability in underdeveloped and developing countries
    • Lack of awareness & availability

Key Market Trend

Home Care Agencies are Liekly to Provide Largest Growth Opportunity for Home Health Hub Manufacturers

One of the most prominent trends in the healthcare industry is the shift from hospital-based care to home care. This is mainly attributed to efforts from government agencies and healthcare organizations to reduce overall healthcare spending and cost of care delivery. Home care agencies play a pivotal role in this transition of care delivery model. In order to monitor and store patients’ clinical data to provide better services, home care agencies deploy peripheral devices and home health hubs at patient’s location. With this, patient’s clinical information can easily be accessed through private cloud storage, web portals, and smartphone applications. As more number of patients moved to home care, the demand for connectivity technologies, such as home health hubs is slated to grow in the coming years.

Key Questions

  • The smartphone-based home health hubs seem to be the way forward. With smartphone-based home health hubs gaining more attention, what would be the future of standalone hubs in the next five years?
  • How implementation of telehealth services in clinical trials would change the future of clinical trial management?
  • Most of the home health hub providers have opted agreements, collaborations, & partnerships as the key growth strategies. Where will it take the industry in the mid to long term?
  • How will payer- provider collaborations to provide telehealth services impact the market?

The global home health hubs market is projected to reach USD 848.2 Million by 2023 from USD 218.5 Million in 2018, at a CAGR of 31.2%. Growth in the geriatric population and the subsequent increase in the prevalence of chronic diseases, shortage of healthcare professionals, and need to reduce healthcare costs are some of the major driving factors of the home health hub market.

The report analyzes the global home health gateway market by product and service, type of patient monitoring, end user, and region. On the product and service, the standalone hubs segment accounted for the largest share of the global home health hubs market. The growing focus on reducing healthcare costs and shift of point-of-care diagnostics from hospital-based care to home care settings are the major factors driving its adoption in the market.

Based on type of patient monitoring, the 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 the home health hub market in 2017. The large share can be attributed to the growing geriatric population and high prevalence of chronic diseases.

Home Health Hubs Market

Geographically, the global home health hubs market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa. In 2017, North America accounted for the largest share of the home health hub market, followed by Europe. North America’s large share in the global market is attributed to factors such as high adoption of advanced technologies, prevalence of chronic and lifestyle diseases, growing healthcare costs, shortage of physicians, and increasing demand for better healthcare services.

However, security & privacy concerns and reimbursement issues of telehealth services in the US are expected to restrain the growth of this market to a certain extent.

Prominent players in this market are Qualcomm (US), Honeywell (US), Vivify (US), Lamprey Networks (US), AMC Health (US), iHealth Lab (US), IDEAL LIFE (US), Hicare (US), MedM (US), and OnKφl (US).

To speak to our analyst for a discussion on the above findings, click Speak to Analyst

Table of Contents

1 Introduction (Page No. - 12)
    1.1 Objectives of the Study
    1.2 Market Definition
    1.3 Market Scope
           1.3.1 Markets Covered
           1.3.2 Years Considered for the Study
    1.4 Limitations
    1.5 Currency
    1.6 Stakeholders

2 Research Methodology (Page No. - 15)
    2.1 Research Approach
           2.1.1 Secondary Data
                    2.1.1.1 Key Data From Secondary Research
           2.1.2 Primary Data
                    2.1.2.1 Breakdown of Primaries
                    2.1.2.2 Key Data From Primary Research
                    2.1.2.3 Key Industry Insights
    2.2 Market Size Estimation
    2.3 Market Breakdown and Data Triangulation
    2.4 Assumptions for the Study

3 Executive Summary (Page No. - 23)

4 Premium Insights (Page No. - 27)
    4.1 Home Health Gateway : Market Overview
    4.2 Geographic Analysis: Home Health Gateway Market, By End User (2017)
    4.3 Home Health Gateway Market: Regional Mix
    4.4 Geographical Snapshot of the Home Health Hubs Market

5 Market Overview (Page No. - 31)
    5.1 Introduction
    5.2 Market Dynamics
           5.2.1 Drivers
                    5.2.1.1 Growth in the Geriatric Population and the Subsequent Increase in the Prevalence of Chronic Diseases
                    5.2.1.2 Need to Reduce Healthcare Costs
                    5.2.1.3 Shortage of Healthcare Professionals
           5.2.2 Restraints
                    5.2.2.1 Security & Privacy Concerns
                    5.2.2.2 Reimbursement Issues in the US
           5.2.3 Opportunities
                    5.2.3.1 Growing Remote Patient Monitoring Market
                    5.2.3.2 Increased Interest in Health and Wellness Tracking
           5.2.4 Challenges
                    5.2.4.1 Poor Internet Availability in Underdeveloped and Developing Countries
                    5.2.4.2 Lack of Awareness & Availability

6 Industry Insights (Page No. - 37)
    6.1 Reimbursement Scenario in the US
    6.2 Telehealth-Based Clinical Trials Using Home Health Hubs
    6.3 Case Studies: Home Health Hub
           6.3.1 the Christus Health Care Transition Program
           6.3.2 House Calls Telehealth Program
           6.3.3 Health System With A Personal Touch Program

7 Home Health Hubs Market, By Product & Service (Page No. - 40)
    7.1 Introduction
    7.2 Standalone Hubs
    7.3 Smartphone-Based Hubs
    7.4 Services
           7.4.1 Remote Patient Monitoring Services
           7.4.2 Support & Maintenance Services

8 Home Health Hubs Market, By Type of Patient Monitoring (Page No. - 50)
    8.1 Introduction
    8.2 High-Acuity Patient Monitoring
    8.3 Moderate-Acuity Patient Monitoring
    8.4 Low-Acuity Patient Monitoring

9 Home Health Hubs Market, By End User (Page No. - 55)
    9.1 Introduction
    9.2 Hospitals
    9.3 Healthcare Payers
    9.4 Home Care Agencies
    9.5 Nursing Homes & Assisted Living Facilities

10 Home Health Hubs Market, By Region (Page No. - 61)
     10.1 Introduction
     10.2 North America
             10.2.1 US
             10.2.2 Canada
     10.3 Europe
             10.3.1 UK
             10.3.2 Germany
             10.3.3 Rest of Europe (RoE)
     10.4 Asia Pacific
     10.5 Latin America
     10.6 Middle East & Africa

11 Competitive Landscape (Page No. - 90)
     11.1 Overview
     11.2 Market Ranking Analysis, 2017
     11.3 Competitive Scenario
             11.3.1 Agreements, Collaborations & Partnerships
             11.3.2 Product Launches and Enhancements
             11.3.3 Acquisitions

12 Company Profiles (Page No. - 95)
(Introduction, Products & Services, Strategy, & Analyst Insights, Developments, MnM View)*
     12.1 Qualcomm Incorporated
     12.2 Lamprey Networks
     12.3 Vivify Health, Inc.
     12.4 iHealth Lab
     12.5 AMC Health
     12.6 Honeywell International
     12.7 IDEAL LIFE Inc.
     12.8 Hicare (Subsidiary of Insung Information Co. Ltd)
     12.9 MedM Inc
     12.10 OnKφl

*Details on Marketsandmarkets View, Introduction, Product & Services, Strategy, & Analyst Insights, New Developments Might Not Be Captured in Case of Unlisted Companies.

13 Appendix (Page No. - 112)
     13.1 Insights of Industry Experts
     13.2 Discussion Guide
     13.3 Knowledge Store: Marketsandmarkets’ Subscription Portal
     13.4 Introducing RT: Real-Time Market Intelligence
     13.5 Available Customizations
     13.6 Related Reports
     13.7 Author Details


List of Tables (74 Tables)

Table 1 Impact Analysis: Market Drivers
Table 2 Impact Analysis: Market Restraints
Table 3 Impact Analysis: Market Opportunities
Table 4 Impact Analysis: Market Challenges
Table 5 Home Health Hubs Market, By Product & Service, 2016–2023 (USD Million)
Table 6 Major Standalone Home Health Hubs in the Market
Table 7 Standalone Home Health Gateway Market, By Country/Region, 2016–2023 (USD Million)
Table 8 Major Smartphone-Based Hubs in the Market
Table 9 Smartphone-Based Home Health Hubs Market, By Country/Region, 2016–2023 (USD Million)
Table 10 Home Health Hub Services Market, By Type, 2016–2023 (USD Million)
Table 11 Home Health Hub Services Market, By Country/Region, 2016–2023 (USD Million)
Table 12 Remote Patient Monitoring Services Market, By Country, 2016–2023 (USD Million)
Table 13 Support & Maintenance Services Market, By Country/Region, 2016–2023 (USD Million)
Table 14 Home Health Hubs Market, By Type of Monitoring, 2016–2023 (USD Million)
Table 15 Home Health Hub Market for High-Acuity Patient Monitoring, By Country/Region, 2016–2023 (USD Million)
Table 16 Home Health Gateway Market for Moderate-Acuity Patient Monitoring, By Country/Region, 2016–2023 (USD Million)
Table 17 Home Health Hub Market for Low-Acuity Patient Monitoring, By Country/Region, 2016–2023 (USD Million)
Table 18 Home Health Hubs Market, By End User, 2016–2023 (USD Million)
Table 19 Home Health Gateway Market for Hospitals, By Country, 2016–2023 (USD Million)
Table 20 Home Health Hubs Market for Healthcare Payers, By Country, 2016–2023 (USD Million)
Table 21 Home Health Hub Market for Home Care Agencies, By Country/Region, 2016–2023 (USD Million)
Table 22 Home Health Gateway Market for Nursing Homes & Assisted Living Facilities, By Country/Region, 2016–2023 (USD Million)
Table 23 Home Health Hub Market, By Region, 2016–2023 (USD Million)
Table 24 North America: Home Health Hub Market, By Country, 2016–2023 (USD Million)
Table 25 North America: Home Health Hubs Market, By Product & Service, 2016–2023 (USD Million)
Table 26 North America: Home Health Hub Services Market, By Type, 2016–2023 (USD Million)
Table 27 North America: Home Health Gateway Market, By Type of Patient Monitoring, 2016–2023 (USD Million)
Table 28 North America: Home Health Hubs Market, By End User, 2016–2023 (USD Million)
Table 29 US: Key Macroindicators
Table 30 US: Home Health Hub Market, By Product & Service, 2016–2023 (USD Million)
Table 31 US: Home Health Hub Services Market, By Type, 2016–2023 (USD Million)
Table 32 US: Home Health Hubs Market, By Type of Patient Monitoring, 2016–2023 (USD Million)
Table 33 US: Home Health Gateway Market, By End User, 2016–2023 (USD Million)
Table 34 Canada: Key Macroindicators
Table 35 Canada: Home Health Hubs Market, By Product & Service, 2016–2023 (USD Million)
Table 36 Canada: Home Health Hub Services Market, By Type, 2016–2023 (USD Million)
Table 37 Canada: Home Health Gateway Market, By Type of Patient Monitoring, 2016–2023 (USD Million)
Table 38 Canada: Home Health Hubs Market, By End User, 2016–2023 (USD Million)
Table 39 Europe: Home Health Hub Market, By Country, 2016–2023 (USD Million)
Table 40 Europe: Home Health Gateway Market, By Product & Service, 2016–2023 (USD Million)
Table 41 Europe: Home Health Hub Services Market, By Type, 2016–2023 (USD Million)
Table 42 Europe: Home Health Hubs Market, By Type of Patient Monitoring, 2016–2023 (USD Million)
Table 43 Europe: Home Health Gateway Market, By End User, 2016–2023 (USD Million)
Table 44 UK: Key Macroindicators
Table 45 UK: Home Health Hub Market, By Product & Service, 2016–2023 (USD Million)
Table 46 UK: Home Health Hub Services Market, By Type, 2016–2023 (USD Million)
Table 47 UK: Home Health Hubs Market, By Type of Patient Monitoring, 2016–2023 (USD Million)
Table 48 UK: Home Health Gateway Market, By End User, 2016–2023 (USD Million)
Table 49 Germany: Key Macroindicators
Table 50 Germany: Home Health Hub Market, By Product & Service, 2016–2023 (USD Million)
Table 51 Germany: Home Health Hub Services Market, By Type, 2016–2023 (USD Million)
Table 52 Germany: Home Health Hubs Market, By Type of Patient Monitoring, 2016–2023 (USD Million)
Table 53 Germany: Home Health Gateway Market, By End User, 2016–2023 (USD Million)
Table 54 RoE: Home Health Hub Market, By Product & Service, 2016–2023 (USD Million)
Table 55 RoE: Home Health Hub Services Market, By Type, 2016–2023 (USD Million)
Table 56 RoE: Home Health Hubs Market, By Type of Patient Monitoring, 2016–2023 (USD Million)
Table 57 RoE: Home Health Gateway Market, By End User, 2016–2023 (USD Million)
Table 58 APAC: Home Health Hub Market, By Product & Service, 2016–2023 (USD Million)
Table 59 APAC: Home Health Hub Services Market, By Type, 2016–2023 (USD Million)
Table 60 APAC: Home Health Hubs Market, By Type of Patient Monitoring, 2016–2023 (USD Million)
Table 61 APAC: Home Health Gateway Market, By End User, 2016–2023 (USD Million)
Table 62 Latin America: Home Health Hub Market, By Product & Service, 2016–2023 (USD Million)
Table 63 Latin America: Home Health Hub Services Market, By Type, 2016–2023 (USD Million)
Table 64 Latin America: Home Health Hubs Market, By Type of Patient Monitoring, 2016–2023 (USD Million)
Table 65 Latin America: Home Health Gateway Market, By End User, 2016–2023 (USD Million)
Table 66 Middle East & Africa: Home Health Hub Market, By Product & Service, 2016–2023 (USD Million)
Table 67 Middle East & Africa: Home Health Hub Services Market, By Type, 2016–2023 (USD Million)
Table 68 Middle East & Africa: Home Health Hubs Market, By Type of Patient Monitoring, 2016–2023 (USD Million)
Table 69 Middle East & Africa: Home Health Gateway Market, By End User, 2016–2023 (USD Million)
Table 70 Growth Strategy Matrix (2014–2018)
Table 71 Home Health Hubs Market Ranking, By Key Player, 2017
Table 72 Agreements, Collaborations & Partnerships, 2014–2018
Table 73 Product Launches & Enhancements, 2014–2018
Table 74 Acquisitions, 2014–2018
 
 
List of Figures (31 Figures)
 
Figure 1 Home Health Hub Market Segmentation
Figure 2 Research Design
Figure 3 Breakdown of Primary Interviews: By Company Type, Designation, and Region
Figure 4 Bottom-Up Approach
Figure 5 Top-Down Approach
Figure 6 Data Triangulation Methodology
Figure 7 Home Health Hubs Market, By Product and Service, 2018 vs 2023 (USD Million)
Figure 8 Home Health Hub Services Market, By Type, 2018 vs 2023 (USD Million)
Figure 9 Home Health Hubs Market, By Type of Patient Monitoring, 2018 vs 2023 (USD Million)
Figure 10 Home Health Gateway Market, By End User, 2018 vs 2023 (USD Million)
Figure 11 North America Dominated the Home Health Hub Market in 2017
Figure 12 Rising Geriatric Population & Subsequent Increase in the Prevalence of Chronic Diseases to Drive the Market for Home Health Hubs During the Forecast Period
Figure 13 Hospitals Accounted for the Largest Share of the Home Health Hubs Market in 2017
Figure 14 Asia Pacific to Register the Highest Growth Rate During the Forecast Period
Figure 15 US Commanded the Largest Share of the Home Health Hub Market in 2017
Figure 16 Home Health Hubs Market: Drivers, Restraints, Opportunities, and Challenges
Figure 17 Aging Population Statistics, Global & US
Figure 18 Medical Data Transfer Through Home Health Hubs
Figure 19 Smartphone-Based Hubs to Dominate the Home Health Hub Market During the Forecast Period
Figure 20 Global Smartphone Adoption, 2017 vs 2025
Figure 21 High-Acuity Patient Monitoring to Dominate the Home Health Hubs Market During the Forecast Period
Figure 22 Hospitals to Dominate the Home Health Hubs Market During the Forecast Period
Figure 23 Home Health Gateway Market, By Region, 2018 vs 2023 (USD Million)
Figure 24 Home Health Hubs Market: Geographic Snapshot
Figure 25 North America: Home Health Gateway Market Snapshot
Figure 26 Europe: Home Health Gateway Market Snapshot
Figure 27 APAC: Mobile Subscriber Penetration
Figure 28 APAC: Home Health Hubs Market Snapshot
Figure 29 Key Developments in the Home Health Hubs Market Between January 2014 and March 2018
Figure 30 Qualcomm Incorporated: Company Snapshot (2017)
Figure 31 Honeywell: Company Snapshot (2017)


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