Market Overview:
The global home healthcare monitoring device market is expected to grow at a CAGR of 10.8% during the forecast period from 2018 to 2030. The market growth can be attributed to the increasing prevalence of chronic diseases, rising geriatric population, and growing demand for home healthcare services. In addition, technological advancements in home healthcare monitoring devices are also contributing to the growth of this market. Based on type, the global home healthcare monitoring device market is segmented into software and services. The software segment is further sub-segmented into patient management systems and clinical decision support systems. The services segment is further sub-segmented into professional services and managed services. Based on application, the global home healthcare monitoring device market is divided into two segments: home care and hospital care. Geographically, the global Home Healthcare Monitoring Device Market has been segregated into five regions: North America, Latin America, Europe Asia Pacific (APAC), and Middle East & Africa (MEA).
Product Definition:
A home healthcare monitoring device is a medical device that allows for the remote monitoring of a patient's health. This can include things like heart rate, blood pressure, and oxygen levels. Home healthcare monitoring devices are important because they allow doctors to keep track of a patient's health even if they are not in the hospital. This can help to prevent serious health problems from developing and allow for early intervention if needed.
Software:
Software is the part of a device that enables its operation and features. In case of home healthcare monitoring devices, it controls various functions such as taking blood pressure, heart rate, body temperature etc. The software used in these devices is mainly designed for Windows OS but can also be used on Mac OS and Linux. Some examples of software are AcuRaw by Source Biomedica Ltd., ABP Personal Edition by Abbott Laboratories and Epipole Software by LifeWatch AG & Co.
Services:
The global home healthcare monitoring device market size was valued at USD 2.6 billion in 2015 and is expected to grow at a CAGR of XX% over the forecast period. The increasing geriatric population, which is highly prone to chronic diseases such as hypertension, diabetes, cardiac disorders & sleep apnea and other conditions that require continuous patient monitoring are the major factors driving growth in this industry.
Application Insights:
The home healthcare monitoring device market has been segmented into four applications, namely home, hospital, clinics and others. The hospital segment dominated the global market in 2017 owing to the increasing prevalence of chronic diseases such as cancer and cardiac disorders that require regular medical checkups at hospitals. In addition, an increase in the number of government initiatives aimed at reducing healthcare expenditure is expected to drive demand for HHMD devices over the forecast period. For instance, according to a study published by NCBI in 2018; it was found that approximately USD 250 billion are spent annually by U.S.
In Europe and North America region; many private clinics offer remote patient monitoring services through video conferencing systems with advanced software solutions integrated with hardware devices such as thermometers & blood pressure monitors thereby driving demand across these regions over the forecast period.
Regional Analysis:
North America dominated the global market in 2017. The presence of a large number of players coupled with high adoption rate and technological advancements are some factors driving the growth. In addition, increasing demand for patient monitoring at home is also expected to drive regional growth over the forecast period.
Asia Pacific is anticipated to witness lucrative growth over the forecast period owing to rising geriatric population and improving healthcare infrastructure in countries such as China, India, Singapore, Thailand and Malaysia. Moreover, economic development coupled with government initiatives aimed at reducing hospital readmissions is further expected to fuel regional demand for home healthcare monitoring devices during the forecast period. Increasing investments by companies such as Philips Healthcare; Medtronic; Carestream Health; American Hospital Supply Corporation (AHS) & AHA Inc.; Koninklijke Philips N.V.; Becton Dickinson & Company; Fresenius Medical Care AG & Co., Ltd.
Growth Factors:
- Increasing geriatric population: The global geriatric population is expected to grow at a CAGR of 6.5% from 2016 to 2020, owing to the increase in life expectancy and the growth in the number of people aged 65 years and above. This will result in an increased demand for home healthcare monitoring devices, as these devices help seniors stay healthy and independent.
- Rising incidence of chronic diseases: The prevalence of chronic diseases such as heart disease, stroke, diabetes, and cancer is increasing globally due to changing lifestyles and aging populations. This is leading to an increased demand for home healthcare monitoring devices that can help patients manage their conditions effectively.
- Growing awareness about home healthcare monitoring devices: There is a growing awareness among consumers about the benefits of using home healthcare monitoring devices for managing their health conditions independently at home. This is driving the adoption of these devices worldwide.
Scope Of The Report
Report Attributes
Report Details
Report Title
Home Healthcare Monitoring Device Market Research Report
By Type
Software, Services
By Application
Home, Hospital
By Companies
Philips Healthcare, Honeywell, Linde Group, Abbott Laboratories, LHC Group, A&D, Amedisys, Fresenius, Omron, Kinnser Software, Roche
Regions Covered
North America, Europe, APAC, Latin America, MEA
Base Year
2021
Historical Year
2019 to 2020 (Data from 2010 can be provided as per availability)
Forecast Year
2030
Number of Pages
220
Number of Tables & Figures
154
Customization Available
Yes, the report can be customized as per your need.
Global Home Healthcare Monitoring Device Market Report Segments:
The global Home Healthcare Monitoring Device market is segmented on the basis of:
Types
Software, Services
The product segment provides information about the market share of each product and the respective CAGR during the forecast period. It lays out information about the product pricing parameters, trends, and profits that provides in-depth insights of the market. Furthermore, it discusses latest product developments & innovation in the market.
Applications
Home, Hospital
The application segment fragments various applications of the product and provides information on the market share and growth rate of each application segment. It discusses the potential future applications of the products and driving and restraining factors of each application segment.
Some of the companies that are profiled in this report are:
- Philips Healthcare
- Honeywell
- Linde Group
- Abbott Laboratories
- LHC Group
- A&D
- Amedisys
- Fresenius
- Omron
- Kinnser Software
- Roche
Highlights of The Home Healthcare Monitoring Device Market Report:
- The market structure and projections for the coming years.
- Drivers, restraints, opportunities, and current trends of market.
- Historical data and forecast.
- Estimations for the forecast period 2030.
- Developments and trends in the market.
- By Type:
- Software
- Services
- By Application:
- Home
- Hospital
- Market scenario by region, sub-region, and country.
- Market share of the market players, company profiles, product specifications, SWOT analysis, and competitive landscape.
- Analysis regarding upstream raw materials, downstream demand, and current market dynamics.
- Government Policies, Macro & Micro economic factors are also included in the report.
We have studied the Home Healthcare Monitoring Device Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2030.
Regional Analysis
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
Note: A country of choice can be added in the report at no extra cost. If more than one country needs to be added, the research quote will vary accordingly.
The geographical analysis part of the report provides information about the product sales in terms of volume and revenue in regions. It lays out potential opportunities for the new entrants, emerging players, and major players in the region. The regional analysis is done after considering the socio-economic factors and government regulations of the countries in the regions.
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8 Reasons to Buy This Report
- Includes a Chapter on the Impact of COVID-19 Pandemic On the Market
- Report Prepared After Conducting Interviews with Industry Experts & Top Designates of the Companies in the Market
- Implemented Robust Methodology to Prepare the Report
- Includes Graphs, Statistics, Flowcharts, and Infographics to Save Time
- Industry Growth Insights Provides 24/5 Assistance Regarding the Doubts in the Report
- Provides Information About the Top-winning Strategies Implemented by Industry Players.
- In-depth Insights On the Market Drivers, Restraints, Opportunities, and Threats
- Customization of the Report Available
Frequently Asked Questions?
A home healthcare monitoring device is a small, portable device that helps caregivers keep track of the health and well-being of their loved ones at home. These devices can be used to monitor vital signs, track sleep patterns, and provide alerts if there are any changes in a person's condition.
Some of the major players in the home healthcare monitoring device market are Philips Healthcare, Honeywell, Linde Group, Abbott Laboratories, LHC Group, A&D, Amedisys, Fresenius, Omron, Kinnser Software, Roche.
The home healthcare monitoring device market is expected to grow at a compound annual growth rate of 10.8%.
Chapter 1 Executive Summary
Chapter 2 Assumptions and Acronyms Used
Chapter 3 Research Methodology
Chapter 4 Home Healthcare Monitoring Device Market Overview
4.1 Introduction
4.1.1 Market Taxonomy
4.1.2 Market Definition
4.1.3 Macro-Economic Factors Impacting the Market Growth
4.2 Home Healthcare Monitoring Device Market Dynamics
4.2.1 Market Drivers
4.2.2 Market Restraints
4.2.3 Market Opportunity
4.3 Home Healthcare Monitoring Device Market - Supply Chain Analysis
4.3.1 List of Key Suppliers
4.3.2 List of Key Distributors
4.3.3 List of Key Consumers
4.4 Key Forces Shaping the Home Healthcare Monitoring Device Market
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of Substitution
4.4.4 Threat of New Entrants
4.4.5 Competitive Rivalry
4.5 Global Home Healthcare Monitoring Device Market Size & Forecast, 2018-2028
4.5.1 Home Healthcare Monitoring Device Market Size and Y-o-Y Growth
4.5.2 Home Healthcare Monitoring Device Market Absolute $ Opportunity
Chapter 5 Global Home Healthcare Monitoring Device Market Analysis and Forecast by Type
5.1 Introduction
5.1.1 Key Market Trends & Growth Opportunities by Type
5.1.2 Basis Point Share (BPS) Analysis by Type
5.1.3 Absolute $ Opportunity Assessment by Type
5.2 Home Healthcare Monitoring Device Market Size Forecast by Type
5.2.1 Software
5.2.2 Services
5.3 Market Attractiveness Analysis by Type
Chapter 6 Global Home Healthcare Monitoring Device Market Analysis and Forecast by Applications
6.1 Introduction
6.1.1 Key Market Trends & Growth Opportunities by Applications
6.1.2 Basis Point Share (BPS) Analysis by Applications
6.1.3 Absolute $ Opportunity Assessment by Applications
6.2 Home Healthcare Monitoring Device Market Size Forecast by Applications
6.2.1 Home
6.2.2 Hospital
6.3 Market Attractiveness Analysis by Applications
Chapter 7 Global Home Healthcare Monitoring Device Market Analysis and Forecast by Region
7.1 Introduction
7.1.1 Key Market Trends & Growth Opportunities by Region
7.1.2 Basis Point Share (BPS) Analysis by Region
7.1.3 Absolute $ Opportunity Assessment by Region
7.2 Home Healthcare Monitoring Device Market Size Forecast by Region
7.2.1 North America
7.2.2 Europe
7.2.3 Asia Pacific
7.2.4 Latin America
7.2.5 Middle East & Africa (MEA)
7.3 Market Attractiveness Analysis by Region
Chapter 8 Coronavirus Disease (COVID-19) Impact
8.1 Introduction
8.2 Current & Future Impact Analysis
8.3 Economic Impact Analysis
8.4 Government Policies
8.5 Investment Scenario
Chapter 9 North America Home Healthcare Monitoring Device Analysis and Forecast
9.1 Introduction
9.2 North America Home Healthcare Monitoring Device Market Size Forecast by Country
9.2.1 U.S.
9.2.2 Canada
9.3 Basis Point Share (BPS) Analysis by Country
9.4 Absolute $ Opportunity Assessment by Country
9.5 Market Attractiveness Analysis by Country
9.6 North America Home Healthcare Monitoring Device Market Size Forecast by Type
9.6.1 Software
9.6.2 Services
9.7 Basis Point Share (BPS) Analysis by Type
9.8 Absolute $ Opportunity Assessment by Type
9.9 Market Attractiveness Analysis by Type
9.10 North America Home Healthcare Monitoring Device Market Size Forecast by Applications
9.10.1 Home
9.10.2 Hospital
9.11 Basis Point Share (BPS) Analysis by Applications
9.12 Absolute $ Opportunity Assessment by Applications
9.13 Market Attractiveness Analysis by Applications
Chapter 10 Europe Home Healthcare Monitoring Device Analysis and Forecast
10.1 Introduction
10.2 Europe Home Healthcare Monitoring Device Market Size Forecast by Country
10.2.1 Germany
10.2.2 France
10.2.3 Italy
10.2.4 U.K.
10.2.5 Spain
10.2.6 Russia
10.2.7 Rest of Europe
10.3 Basis Point Share (BPS) Analysis by Country
10.4 Absolute $ Opportunity Assessment by Country
10.5 Market Attractiveness Analysis by Country
10.6 Europe Home Healthcare Monitoring Device Market Size Forecast by Type
10.6.1 Software
10.6.2 Services
10.7 Basis Point Share (BPS) Analysis by Type
10.8 Absolute $ Opportunity Assessment by Type
10.9 Market Attractiveness Analysis by Type
10.10 Europe Home Healthcare Monitoring Device Market Size Forecast by Applications
10.10.1 Home
10.10.2 Hospital
10.11 Basis Point Share (BPS) Analysis by Applications
10.12 Absolute $ Opportunity Assessment by Applications
10.13 Market Attractiveness Analysis by Applications
Chapter 11 Asia Pacific Home Healthcare Monitoring Device Analysis and Forecast
11.1 Introduction
11.2 Asia Pacific Home Healthcare Monitoring Device Market Size Forecast by Country
11.2.1 China
11.2.2 Japan
11.2.3 South Korea
11.2.4 India
11.2.5 Australia
11.2.6 South East Asia (SEA)
11.2.7 Rest of Asia Pacific (APAC)
11.3 Basis Point Share (BPS) Analysis by Country
11.4 Absolute $ Opportunity Assessment by Country
11.5 Market Attractiveness Analysis by Country
11.6 Asia Pacific Home Healthcare Monitoring Device Market Size Forecast by Type
11.6.1 Software
11.6.2 Services
11.7 Basis Point Share (BPS) Analysis by Type
11.8 Absolute $ Opportunity Assessment by Type
11.9 Market Attractiveness Analysis by Type
11.10 Asia Pacific Home Healthcare Monitoring Device Market Size Forecast by Applications
11.10.1 Home
11.10.2 Hospital
11.11 Basis Point Share (BPS) Analysis by Applications
11.12 Absolute $ Opportunity Assessment by Applications
11.13 Market Attractiveness Analysis by Applications
Chapter 12 Latin America Home Healthcare Monitoring Device Analysis and Forecast
12.1 Introduction
12.2 Latin America Home Healthcare Monitoring Device Market Size Forecast by Country
12.2.1 Brazil
12.2.2 Mexico
12.2.3 Rest of Latin America (LATAM)
12.3 Basis Point Share (BPS) Analysis by Country
12.4 Absolute $ Opportunity Assessment by Country
12.5 Market Attractiveness Analysis by Country
12.6 Latin America Home Healthcare Monitoring Device Market Size Forecast by Type
12.6.1 Software
12.6.2 Services
12.7 Basis Point Share (BPS) Analysis by Type
12.8 Absolute $ Opportunity Assessment by Type
12.9 Market Attractiveness Analysis by Type
12.10 Latin America Home Healthcare Monitoring Device Market Size Forecast by Applications
12.10.1 Home
12.10.2 Hospital
12.11 Basis Point Share (BPS) Analysis by Applications
12.12 Absolute $ Opportunity Assessment by Applications
12.13 Market Attractiveness Analysis by Applications
Chapter 13 Middle East & Africa (MEA) Home Healthcare Monitoring Device Analysis and Forecast
13.1 Introduction
13.2 Middle East & Africa (MEA) Home Healthcare Monitoring Device Market Size Forecast by Country
13.2.1 Saudi Arabia
13.2.2 South Africa
13.2.3 UAE
13.2.4 Rest of Middle East & Africa (MEA)
13.3 Basis Point Share (BPS) Analysis by Country
13.4 Absolute $ Opportunity Assessment by Country
13.5 Market Attractiveness Analysis by Country
13.6 Middle East & Africa (MEA) Home Healthcare Monitoring Device Market Size Forecast by Type
13.6.1 Software
13.6.2 Services
13.7 Basis Point Share (BPS) Analysis by Type
13.8 Absolute $ Opportunity Assessment by Type
13.9 Market Attractiveness Analysis by Type
13.10 Middle East & Africa (MEA) Home Healthcare Monitoring Device Market Size Forecast by Applications
13.10.1 Home
13.10.2 Hospital
13.11 Basis Point Share (BPS) Analysis by Applications
13.12 Absolute $ Opportunity Assessment by Applications
13.13 Market Attractiveness Analysis by Applications
Chapter 14 Competition Landscape
14.1 Home Healthcare Monitoring Device Market: Competitive Dashboard
14.2 Global Home Healthcare Monitoring Device Market: Market Share Analysis, 2019
14.3 Company Profiles (Details – Overview, Financials, Developments, Strategy)
14.3.1 Philips Healthcare
14.3.2 Honeywell
14.3.3 Linde Group
14.3.4 Abbott Laboratories
14.3.5 LHC Group
14.3.6 A&D
14.3.7 Amedisys
14.3.8 Fresenius
14.3.9 Omron
14.3.10 Kinnser Software
14.3.11 Roche
