The ‘Global Home Healthcare Market Price, Share, Analysis, Growth, Report and Forecast 2023-2031’ by Expert Market Research gives an extensive outlook of the global home healthcare market, assessing the market on the basis of its segments like equipment, services, application, and major regions.
Home Healthcare Market Size, Share, Trends, Industry Report, Key Player, Major Segments and Forecast
The key highlights of the report include:
Market Overview (2018-2031)
- Historical Market Size (2022): USD 298.3 billion
- Forecast CAGR (2023-2031): 10.10%
- Forecast Market Size (2027): USD 710.5 billion
The home healthcare market is driven by a number of factors, including an ageing population, increasing chronic disease rates, and advances in technology. The ageing population is one of the major drivers of the home healthcare market, as older individuals are more likely to require medical care and assistance with daily activities. With the increasing rates of chronic diseases such as diabetes, heart disease, and cancer, individuals are more likely to require ongoing medical care and support in their homes.
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Advances in technology, such as telemedicine, remote monitoring, and wearable devices, have also played a significant role in driving the home healthcare market, as they allow for more efficient and cost-effective delivery of care.
Additionally, the rising costs of healthcare and the desire for more personalized and convenient care has led to an increased demand for home healthcare services. Government initiatives to reduce healthcare costs and increase access to care, such as the Affordable Care Act, have also played a role in driving the home healthcare market. Overall, the home healthcare market is driven by a combination of demographic, economic, and technological factors that are expected to continue to drive growth in the coming years.
Home Healthcare Market Segmentation
Home healthcare refers to medical and therapeutic services provided to individuals in their own homes, rather than in a hospital or other healthcare facility. Services may include nursing care, physical therapy, occupational therapy, speech therapy, and other forms of medical treatment or rehabilitation. Home healthcare can be provided by a variety of healthcare professionals, including nurses, therapists, and home health aides. It is often used for individuals who are recovering from an illness or injury, or for those with chronic health conditions that require ongoing care and support.
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Market Breakup by Equipment
- Therapeutic Products
- Dialysis Equipment
- Wound Care Products
- Home Intravenous Pumps
- Nebulizers and Inhalers
- Insulin Delivery Devices
- Oxygen Delivery Systems
- Sleep Apnea Therapeutic Devices
Testing, Screening, and Monitoring Products
- Blood Glucose Monitors
- Hearing Aids
- Blood Pressure Monitors
- Ovulation and Pregnancy Test Kits
- Pulse Oximeters
- Coagulation Monitoring Products
- Heart Rate Monitors
- HIV Test Kits
- Temperature Monitoring Devices
- Foetal Monitoring Devices
- Mobility Care
- Walking Assist Devices
- Home Medical Furniture
- Mobility Care
Market Breakup by Services
- Skilled Home Healthcare
- Physician Primary Care
- Nursing Care
- Physical/Occupational/Speech Therapy
- Nutritional support
- Unskilled Home Healthcare
Market Breakup by Application
- Respiratory Diseases
- Wound Care
- Cardiovascular Diseases and Hypertension
Market Breakup by Region
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
Home Healthcare Market Trends
The home healthcare market has seen a significant increase in product launches and developments in recent years. One major development has been the rise of connected medical devices, such as wearable health monitors and smart home health systems. These devices allow patients to track their vital signs and manage their health conditions from the comfort of their own homes.
Another major product launch in the home healthcare market has been the development of telemedicine systems. These systems enable patients to consult with healthcare professionals remotely, through video conferencing and other digital tools. This allows patients to receive medical care and advice without having to leave their homes, which is particularly beneficial for those with mobility issues or chronic health conditions.
Another key development in the home healthcare market has been the introduction of home-based diagnostic devices. These devices allow patients to conduct diagnostic tests and monitor their health conditions at home, such as glucose monitoring for diabetes patients, and blood pressure monitoring for hypertension patients.
Another important product launch in the home healthcare market has been the development of home-based rehabilitation equipment. This includes products such as exercise bikes, treadmills, and strength training equipment, which allow patients to continue their rehabilitation at home after a hospital stay or injury.
Key Market Players
The major players in the home healthcare market report are:
- Koninklijke Philips N.V.
- Omron Healthcare, Inc.
- Air Liquide
- B. Braun Melsungen AG
- DaVita Inc.
- Cardinal Health
- Sunrise Medical
- General Electric
- A&D Company, Limited
- BAYADA Home Health Care
- Invacare Corporation
- Philips Healthcare
- GE Healthcare
- F. Hoffmann-La Roche Ltd
- Healthcare at Home
- Linde plc
The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
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