Home Healthcare Market is Expected to Grow at 6.5% by 2031. Older adults are majorly benefited with home healthcare as it helps them to stay independently for as long as possible in an injury or illness. Home healthcare covers a broad range of services and can possess capability of delaying the need for long-term nursing home care. According to market experts, in the U.S. currently 12 million patients and more than 428 million patient visits each year out of which 70% are using home healthcare services aged 65 and older. The age group beyond 65 years affects with the most common conditions such as heart disease, diabetes and cerebral vascular diseases. On the basis of device type the home healthcare market is segmented as therapeutic devices, diagnostic and screening devices, home mobility assistance devices and medical supplies/ consumables. Furthermore, the diagnostic and screening devices segment comprises, heart rate monitors, blood pressure monitors, temperature monitors, pregnancy test kits, pedometers and coagulation monitors, pulse oximeters, sleep apnea monitors, and blood glucose monitors. The therapeutic devices segment is further segmented into ventilators, insulin delivery devices, nebulizers, and CPAP devices, IV equipment and dialysis equipment. The home mobility assistance devices segment is sub-segmented as cranes, wheelchairs, and crutches and other mobility assist devices. On the basis of services home healthcare market is segmented as telehealth services, respiratory therapy services, rehabilitation services, infusion therapy services, and unskilled home healthcare services.
The home healthcare market is driven by aging population, rising incidences of chronic diseases, increasing healthcare costs are fueling the demand for affordable healthcare delivery systems, technological advancements, and government supportive measures to ensure promotion of home healthcare. Moreover, patient safety concerns, altering reimbursement policies, and partial insurance coverage are major factors restricting the growth of this market. North America is anticipated to dominate the global home healthcare market due to encouraging reimbursement policies along with existence of large number of small and large scale healthcare service providers in the region stimulates the growth of home healthcare market. Europe was observed as the second largest home healthcare market after North America. The key factors responsible for growth of Europe home healthcare market are high prevalence of lifestyle diseases such as cardiovascular diseases and diabetes and rising healthcare investments by the government supports the growth of home healthcare market. Asia-Pacific home healthcare market is expected to grow at the highest CAGR during the forecast period 2016 to 2023. Rising healthcare expenditure, developing healthcare infrastructure, increasing public awareness associated with the diagnosis of lifestyle diseases and disposable income.
Key Players Identified for Home Healthcare Market Include but are Not Limited to:
McKesson Medical-Surgical Inc.; Fresenius Medical Care; Medline Industries, Inc.; Medtronic PLC; 3M Healthcare; Baxter International Inc.; B. Braun Melsungen AG; Arkray, Inc.; F. Hoffmann-La Roche AG; Becton, Dickinson And Company; Acelity L.P.; Hollister Inc.; ConvaTec Group PLC; Molnlycke Health Care; Brookdale Senior Living, Inc.; Home Health Services Ltd.; Sunrise Carlisle, Extendicare, Inc.; Care UK Limited; Senior Care Centers of America; Genesis Healthcare Corp.; Sompo Holdings, Inc.; Kindred Healthcare, Inc.; Home Instead Senior Care, Inc. And Other Notable Players.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Home Healthcare market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Key questions answered in this report
