Global home health hub market to be valued at $3.35b in 2029

Thanks to increased internet penetration and a growing demand for customised healthcare.

The global home health hub market is projected to surge from $975.6m in the current year to $3.35b in 2029 at a compound annual growth rate of 28.06%, said Research and Markets.

The sector’s expansion is attributed to increased internet penetration, medical technology advancements, and a growing demand for customised healthcare services.

A shift towards new technological applications in healthcare such as e-medical devices is driving the market’s upward trend, whilst government support for home-based diagnostics plays a key role in this development.

Meanwhile, the rising elderly population and the prevalence of chronic diseases are heightening the need for continuous patient monitoring, impacting the demand for home health hubs.

“Older people with less access to hospitals and who are unable to reach medical or healthcare centres due to physical problems will be highly reliant on home health hub systems for diagnosis and other treatment purposes,” the report said.

By end user, the nursing homes and assisted living facilities market segment is anticipated to witness notable growth during the forecast period, driven by ongoing investments in expanding elderly care establishments and community centres.