The Home Health Hub Market is projected to reach USD 9.16 Billion by 2032
From GlobeNewswire: 2024-11-27 09:00:00
The Home Health Hub Market was valued at USD 0.80 Billion in 2023 and is projected to reach USD 9.16 Billion by 2032, with a CAGR of 31.29% from 2024 to 2032. Innovations in telemedicine and wearables are driving growth, with over 80% of Americans in favor of remote patient monitoring.
AI, machine learning, and data analytics are fueling innovation in predictive healthcare, reducing administrative tasks by 20%. Collaboration between health providers, tech firms, and insurers is increasing demand for home health hubs, reshaping healthcare delivery worldwide and improving patient outcomes.
Hospitals dominated the market with a 38% revenue share in 2023, while home care agencies are expected to grow at a CAGR of 33.15% from 2024-2032. Smartphone-based hubs led the market with a 45% revenue share in 2023, and high-acuity patient monitoring drove growth with a 32.36% CAGR from 2024-2032.
North America led the market with a 42% revenue share in 2023, while Asia Pacific is experiencing rapid growth. The demand for home healthcare, driven by aging populations and technology, is fueling the growth of the Home Health Hub Market. The Asia Pacific region is experiencing a surge in demand for home health hubs due to the adoption of digital health technology, a robust healthcare infrastructure, and the rising prevalence of chronic diseases. By 2032, the region is expected to grow at a CAGR of 34.20%, with Japan and China driving the growth.
Key developments in the home health hub market include Caregility upgrading its telehealth solutions with AI-driven vitals scanning and Homecare Hub securing CAD 3.4 million in seed funding to expand its senior care platform in the U.S. market.
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