News

Healthcare

Staff Reporter

, APAC

Published:

7 hours ago

Photo by Kampus Production via Pexels

Home health hub market to reach $9.16b by 2032

It is driven by innovations in telemedicine, monitoring devices, and wearables.

The home health hub market, valued at $0.80b in 2023, is expected to grow to $9.16b by 2032, with a compound annual growth rate (CAGR) of 31.29% from 2024 to 2032, according to S&S Insider report.

This growth is driven by innovations in telemedicine, monitoring devices, and wearables, the report said.

In 2023, 96% of HRSA-supported health centers used telehealth for primary care, reflecting the growing need for accessible healthcare, especially for elderly individuals with chronic conditions.

As healthcare costs rise and hospitals become overcrowded, demand for cost-effective remote healthcare solutions is increasing.

Looking ahead, AI, machine learning, and data analytics are expected to further drive market growth by improving predictive healthcare and care delivery.

AI is already reducing administrative tasks by 20%, allowing doctors to focus more on patients. Collaboration between healthcare providers, tech companies, and insurers will further boost demand for home health hubs, transforming healthcare delivery and enhancing patient outcomes worldwide.

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