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(Medical-NewsWire.com, October 30, 2018 ) 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.
https://www.marketsandmarkets.com/Market-Reports/home-health-hub-market-18889153.html
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.
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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 OnKöl (US).
Press Release: https://www.marketsandmarkets.com/PressReleases/home-health-hub.asp
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