BOULDER, Colo.--(BUSINESS WIRE)--Home health hubs, also called home health gateways, will be a growing part of the home health technology market. These devices and applications use wireless connectivity to aggregate information from disparate sources – for example, from connected home medical monitoring equipment, wearable devices, and standalone health and wellness devices – and store and transmit the information gathered. There are two main types of home health hubs: standalone devices and downloadable applications that reside on mobile and wearable devices such as smartphones, tablets, and smart watches.
According to a new report from Tractica, standalone home health hub shipments will increase from approximately 150,000 in 2014 to nearly 1.6 million annually by 2020. During the same period, the market intelligence firm forecasts that mobile and wearable home health hub application downloads will grow from 196,000 to almost 17.3 million annually.
“The primary factor propelling the home health hub market forward is the need to reduce or contain healthcare costs while improving patient outcomes,” says principal analyst Charul Vyas. “Other drivers include the increasing number of individuals with chronic conditions, aging populations, increased interest in health and wellness tracking, and the need to effectively analyze and use the health data collected outside a clinical setting.”
Tractica’s report, “Home Health Hubs”, examines the market trends, drivers and barriers, applications/use cases, and technology issues surrounding home health hubs, including standalone hub devices as well as hub applications that reside on mobile and wearable devices. The study includes global forecasts for users, revenue, and use cases during the period from 2014 through 2020. An Executive Summary of the report is available for free download on the firm’s website.
Tractica is a market intelligence firm that focuses on human interaction with technology. Tractica’s global market research and consulting services combine qualitative and quantitative research methodologies to provide a comprehensive view of the emerging market opportunities surrounding User Interface Technologies, Wearable Devices, and Automation & Robotics. For more information, visit www.tractica.com or call +1.303.248.3000.