The home healthcare market is on the rise, and it is projected to reach USD 340.2 billion by 2027, at a CAGR of 8.5%. This growth is due to a growing elderly population and an increased demand for home healthcare services. The elderly population is expected to nearly double by 2050, which is driving the need for home healthcare services.
Home healthcare services provide medical care in the comfort of a person’s home. Services can range from nursing care and physical therapy to home medical equipment and medication management. Home healthcare services are often less expensive than traditional hospital care, which is another factor driving the growth of the home healthcare market.
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The home healthcare market is segmented into three main categories: home health agencies, home health equipment and supplies, and home health services. Home health agencies provide a range of services including nursing care, physical therapy, and medical social work. Home health equipment and supplies include medical devices, such as oxygen tanks, CPAP machines, and wheelchairs, as well as medical supplies like bandages and syringes. Home health services include home care aides, home health aides, and medical social workers, among others.
The home healthcare market is highly competitive, and there are many different providers of home healthcare services. It is important for consumers to research providers in their area and compare their services and prices. This will help ensure that they are receiving quality care at an affordable price.
The home healthcare market is expected to continue to grow as the elderly population increases and the demand for home healthcare services continues to rise. As more people turn to home healthcare services, providers must be prepared to provide quality care at an affordable price to meet this growing demand.
The major players operating in this market are:
Fresenius SE & Co. KGaA (Germany), Linde, Plc (Ireland), F.Hoffmann-La Roche, Ltd. (Switzerland), A&D Company, Limited (Japan), Bayada Home Health Care (US), Invacare Corporation (US), Abbott (US), Amedisys (US), ResMed, Inc. (US), LHC Group, Inc. (US), Omron Corporation (Japan), Koninkluke Philips N.V. (Netherlands), GE Healthcare (US), Drive Devilbiss Healthcare (UK), Hamilton Medical (Switzerland), Sunrise Medical (Germany), Roma Medical (UK), Caremax Rehabilitation Equipment Co., Ltd. (China), Vitalograph (UK), Advita Pflegedienst Gmbh (Germany), Renafan Gmbh (Germany), ADMR (France), Apex Medical Corp. (Taiwan), Contec Medical Systems Co., Ltd. (China), Löwenstein Medical Technology Gmbh + Co., KG. (Germany), B. Braun Melsungen Ag (Germany), Baxter International, Inc. (US), Allied Healthcare Products, Inc. (US), Medline Industries, Inc. (US), and Advin Health Care (India).
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This research report categorizes the home healthcare market to forecast revenue and analyze trends in each of the following submarkets:
By Product
- Therapeutic Products
- Testing, Screening, and Monitoring Products
- Mobility Care Products
By Service
- Skilled Nursing
- Rehabilitation Therapy
- Hospice & Palliative Care
- Unskilled Care
- Respiratory Therapy
- Infusion Therapy
- Pregnancy Care
By Indication
- Cancer
- Respiratory Diseases
- Movement Disorders
- Cardiovascular Diseases & Hypertension
- Pregnancy
- Wound Care
- Diabetes
- Hearing Disorders
- Other Indications
By Region:
- North America
- Europe
- Asia Pacific
- Rest of the World
North America is the largest regional market for home healthcare market
The global home healthcare market is segmented into four major regions—North America, Europe, the Asia Pacific, and Rest of the World. North America accounted for the largest share of the home healthcare market. The large share of North America in the global market is attributed to the increasing overall geriatric population, and high disposable income. However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. Growth in the Asia Pacific home healthcare market is driven primarily by the rising disposable income, efforts by the government in promoting home healthcare.
Home Healthcare Industry Recent Developments:
- In August 2022, Fresenius Medical Care North America (FMCNA) acquired InterWell Health Brand (US) to gain expertise in kidney care and value-based contracting and performance.
- In August 2022, Contessa (US) partnered with Mount Sinai Health System (US) to offer a full continuum of home-based care that includes home health, hospitalisation at home, rehabilitation at home (in lieu of care at a skilled nursing facility), and palliative care at home.
- To transform the manual wheelchair, Invacre Corporation (US) introduced the Next Generation e-fix eco Power Assist Device in July 2022.
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