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Global Home Healthcare Market Report 2021-2025: Connected Devices Causing a Paradigm Shift in the Medtech Landscape

Research and Markets
·5-min read

Dublin, April 30, 2021 (GLOBE NEWSWIRE) -- The "Global Home Healthcare Market: Analysis and Forecast, 2020-2025" report has been added to ResearchAndMarkets.com's offering.

The global home healthcare market is projected to reach $214.98 billion by 2025

The market for home healthcare has grown significantly over the years. Furthermore, the development of connected medical devices and software has propelled the growth of the field. Moreover, the COVID-19 pandemic has played a key role in changing the perception of home healthcare, especially in emerging economies such as India.

The study indicates that the global home healthcare market has witnessed significant growth in the past few decades, owing to adoption of mhealth technology. Furthermore, advancement in wearable technology for monitoring of novel vital signs; rise of the Internet of Medical Things (IoMT); evolution of remote monitoring solutions for the treatment of patients in an economical and efficient way; and the launch of products for wide range of applications are some of the prominent factors expected to propel the growth of the home healthcare market in the upcoming years.

The study highlights the various emerging opportunities, such as technological advancements in the home healthcare and regional expansion and increasing business collaborations for home healthcare in emerging economies.

Additionally, the market intelligence report throws a spotlight on the readiness index, technology adoption curve, key payment models, business models, regulatory landscape, patent scenario, and product pipeline for global home healthcare market.

To gain a holistic view of the market, data from different segments of the market has been analyzed minutely. These segments include products, end user, and countries.

The product segment of the global market includes analysis of different types of products such as monitoring devices, health maintenance & promotion devices, diagnostic devices, IT & software, and services (SaaS).

The COVID-19 pandemic is transforming the mode of delivery of healthcare across countries. Both emerging and developed countries have witnessed accelerated growth in the adoption of telehealth services. The pandemic is expected to leave a long-term impact on the global healthcare industry, ushering in a new healthcare paradigm for the masses.

Apart from the accelerated growth due to the COVID-19 pandemic, the home healthcare market has been witnessing increasing activity and innovation from new market entrants. Most of the new features in connected devices are AI-powered and designed for personalized user experience. The increasing level of competition is expected to pave way for further innovation in terms of business model, services, device features, and user experience.

Key Topics Covered:

Industry Landscape

Business Models

  • Device-as-a-Service (DaaS)

  • Features and Benefits

  • Companies

  • Software-as-a-Service (SaaS)

  • Homecare Service

  • One-Time Payment Model (Direct-to-Consumer)

  • Subsidized Cost Model

  • Pay-per-Use

  • Clinician-to-Patient Tele-Health Services

Key Payment Models

Future Potential and New Business Opportunities for Integrated Home Healthcare and Promotion

  • Short-Term Potential and Opportunities

  • Medium-Term Potential and Opportunities

  • Long-Term Potential and Opportunities

Return on Investment Analysis: Break-Even Analysis

Key Success Factors

Global Home Healthcare Market Scenario

Technology Development

Global Adoption

Connected Health, Internet of Medical Things, and Home Healthcare

Home Healthcare Value Assessment

Future Prospective

Global Home Healthcare Market: COVID-19 Impact

Market Dynamics

Drivers

  • Rise of Healthcare Consumerism

  • Growth in Adoption of mHealth

  • Advances in Wearable Technology

  • Remote Monitoring Enabling Anything-as-a-Service

  • Connected Devices Causing a Paradigm Shift in the Medtech Landscape

  • Increase in the Number of Regional Startups

Challenges and Restraints

  • Lack of Insurance Coverage for Home Healthcare Services

  • Patient Preferences and Prejudice Hampering Adoption Rate

  • Lack of Well-Defined Regulations

Opportunities

  • Product Expansion

  • Introducing More Home Healthcare Products in the Middle East

  • Entry of Sensor Technology Providers in the Fever Detection Segment

  • Expanding into the Untapped Markets in Africa and the Asia-Pacific Region

  • Home Healthcare Service

  • Adoption of the Device-as-a-Service (DaaS) Business Model

  • Specialized Home Healthcare Services by Large Hospital Chains

  • Development of Specialized Services for COVID-19 Patients

  • Business Collaborations

  • Synergies Between Healthcare and Non-Healthcare Companies

  • Synergies to Meet the Demand for Multiple Third-Party Software Integration

  • Regional Opportunities

Global Home Healthcare Market (by Product)

Monitoring Devices

Health Maintenance and Promotion Devices

Diagnostic Devices

IT and Software

Services (Including SaaS)

Case Studies

  • Changing Healthcare Landscape in India: Increase in the Number of At-Home Service Providers

  • Connected Hearing Aids: User and Clinician Perspectives

  • Internet of Medical Things (IoMT) and Its Impact on Healthcare

Company Profiles

Key Stakeholders

  • Apple Inc.

  • Alphabet Inc. (Parent Company of Google, LLC)

  • Demant (Parent Company of Oticon)

  • Fitbit, Inc.

  • Garmin Ltd.

  • HK Smartmv Limited (Mobvoi)

  • Huami Corporation

  • Huawei Technologies Co. Ltd.

  • Koninklijke Philips N.V.

  • Omron Corporation

  • ResMed

  • Samsung Electronics Co. Ltd.

  • Sonova Holding AG

  • Withings

  • Xiaomi Corporation

Academic and Research Institutions Snapshot

  • Aristotle University of Thessaloniki

  • Italian Institute of Telemedicine

  • Keio University School of Medicine

  • University of Pittsburgh

  • McMaster University

  • Nanjing University of Chinese Medicine

  • University of Utah College of Pharmacy

  • University of California Irvine

  • The University of Melbourne

  • University of Florida

Start-Up Snapshot

  • Agatsa Software Pvt. Ltd.

  • FitTrack

  • GOQii

  • Hangzhou Bangtang Network Technology Co. Ltd. (Bongmi)

  • Kallows Engineering India Pvt. Ltd.

  • Kinsa, Inc.

  • Lumen

  • Nutromics

  • Qardio, Inc.

  • VivaLnk, Inc.

Non-Profit Organizations

  • Bayada Home Health Care

  • Buurtzorg

  • Intermountain Healthcare

  • Jindagi Live (Jindagi Live Akshay Foundation is the Philanthropic Arm)

  • National Church Residences

  • Northwell Health

  • Providence St. Joseph Health

  • Trinity Health (Parent Organization of Trinity Health at Home)

  • Victorian Order of Nurses (VON) Canada

  • Visiting Nurse Service of New York (VNSNY)

VC and Investment

  • Capricorn Partners

  • First Round Capital

  • General Atlantic

  • GSR Ventures

  • Intel Corporation (Parent Company of Intel Capital)

  • KPN (KPN Ventures is the Venture Capital Investment Arm of KPN)

  • Techstars Central LLC

  • Mitsui & Co. Ltd.

  • Wells Fargo & Company (Parent Company of Norwest Venture Partners)

  • WP Global Partners LLC

Analyst Recommendations

  • Market Identification

  • Opportunity and Future Potential

  • Business Model

  • Market Entry Strategy

  • Account Penetration

  • Launch Strategy

  • Success Matrices

For more information about this report visit https://www.researchandmarkets.com/r/t5moyh

CONTACT: CONTACT: ResearchAndMarkets.com Laura Wood, Senior Press Manager press@researchandmarkets.com For E.S.T Office Hours Call 1-917-300-0470 For U.S./CAN Toll Free Call 1-800-526-8630 For GMT Office Hours Call +353-1-416-8900