Global Home Health Hubs Market Report 2021-2027: U.S. Accounts for Over 49.4% of Global Market Size in 2020, While China is Forecast to Grow at a 42.8% CAGR - ResearchAndMarkets.com
DUBLIN--(BUSINESS WIRE)--Jun 28, 2021--
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:
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.
- Encompass Health Corp.
- Honeywell International Inc.
- Ideal Life, Inc.
- 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
- Total Companies Profiled: 53
For more information about this report visit https://www.researchandmarkets.com/r/ssxoib
View source version on businesswire.com:https://www.businesswire.com/news/home/20210628005688/en/
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INDUSTRY KEYWORD: MANAGED CARE HEALTH
SOURCE: Research and Markets
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PUB: 06/28/2021 12:32 PM/DISC: 06/28/2021 12:32 PM