What is the global market size of Home Healthcare Market?

Home Healthcare Market size was valued at USD 335.56 billion in 2021 and is poised to grow from USD 362.1 billion in 2022 to USD 666.9 billion by 2030, growing at a CAGR of 7.96% in the forecast period (2023-2030).

Who are the key vendors in the Global Home Healthcare Market?

Home Healthcare Market Recent Developments 'Fresenius SE & Co. KGaA', 'Amedisys Inc.', 'Bayada Home Health Care', 'CareCentrix', 'Gentiva Health Services Inc.', 'Home Healthcare Solutions Co.', 'Kindred Healthcare Inc.', 'LHC Group Inc.', 'National HealthCare Corporation', 'Omron Healthcare Inc.', 'Philips Healthcare', 'Roche Holding AG', 'Almost Family Inc.', 'Sunrise Medical Inc.', 'Abbott Laboratories Inc.', 'B. Braun Melsungen AG', 'Drive Medical Design & Manufacturing', 'Medline Industries Inc.', 'Teleflex Inc.', 'Welch Allyn Inc.'.

What is the key driver of Global Home Healthcare Market?

The number of patients infected with the novel coronavirus who have respiratory problems is significantly high and growing at an alarming rate. COVID-19 may cause acute respiratory distress syndrome (ARDS) in severe cases, resulting in significant lung damage. With the ongoing pandemic and India's strict lockdown, non-emergent home healthcare services are a safer and more cost-effective alternative to hospital services. Patients with chronic diseases such as cancer, chronic obstructive pulmonary disease (COPD), arthritis, and diabetes may not want to go to the hospital.

Which region accounted for the largest share in Global Home Healthcare Market?

North America dominated the home healthcare Home Healthcare Market with a share of more than 40% in 2021. In North America, the U.S. held the largest market share in 2021. Germany held the largest Home Healthcare Market share in Europe in 2021, followed by France. This is mainly due to increasing expenditure towards in-home healthcare in the country and the growing demand for the skilled nursing workforce for in-house care. The Asia Pacific is also expected to register positive growth in the upcoming years.

Home Healthcare Market Size, Share, Growth Analysis, By Product (Therapeutic Products (Dialysis Equipment, Wound Care Products, IV Equipment, Sleep Apnea Therapeutic Devices)), By Service (Skilled Nursing Services, Rehabilitation Therapy Services, Hospice & Palliative Care Services, Unskilled Care Services), By Indication (Cancer, Respiratory Diseases, Movement Disorders, Pregnancy), By Region - Industry Forecast 2024-2031

Report ID: SQMIG35D2002 | Region: Global | Published Date: August, 2024
Pages: 157 | Tables: 128 | Figures: 77

Home Healthcare Market Regional Insights

North America is the largest region in the home healthcare market with a share of more than 41%. In North America, the U.S. held the largest market share. The high disposable incomes, advanced healthcare infrastructure, and the large geriatric population are driving the home healthcare market share in this region. Furthermore, the rising government initiatives supports research and development helps in providing cost effective home health care services, driving the market.

On the other hand, Asia-Pacific is the fastest growing region in home healthcare market share and is expected to register growth in the upcoming years. The expensive hospital facilities are driving the demand for the home healthcare market as chronic diseases require long term care. Additionally technological advancements in patient monitoring devices contributes to the home healthcare market growth. The rising aging population is prone to lifestyle diseases like diabetes which is expected to grow home healthcare market during the forecasted period.

Home Healthcare Market Report Snapshots

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Global Home Healthcare Market Size was valued at USD 335.56 Billion in 2022 and is poised to grow from USD 362.1 Billion in 2023 to USD 666.9 Billion by 2031, growing at a CAGR of 7.96% in the forecast period (2024-2031).

The market is characterized by a few well-established firms and also several small and medium-sized businesses. Many home health agencies and providers have experienced a drop in business. However, this downturn in the home healthcare market is only expected to last a short time, since the industry is expected to rise faster in the future as more patients recover from COVID-19. 'Fresenius SE & Co. KGaA (Germany) ', 'Amedisys Inc. (US) ', 'Bayada Home Health Care (US) ', 'CareCentrix (US) ', 'Gentiva Health Services Inc. (US) ', 'Home Healthcare Solutions Co. (Georgia) ', 'National HealthCare Corporation (US) ', 'Omron Healthcare Inc. (Japan) ', 'Philips Healthcare (Netherlands) ', 'Roche Holding AG (Switzerland) ', 'Sunrise Medical Inc. (Germany) ', 'Abbott Laboratories Inc. (US) ', 'B. Braun Melsungen AG (Germany) ', 'Drive Medical Design & Manufacturing (US) ', 'Medline Industries Inc. (US) ', 'Teleflex Inc. (US) ', 'Welch Allyn Inc. (US)'

COVID-19 caused acute respiratory distress syndrome (ARDS) in severe cases, resulting in significant lung damage. Due to the pandemic and lockdown, there is seen a rising awareness for non-emergent home healthcare services which is a safer and more cost-effective alternative to hospital services. Patients with chronic diseases such as cancer, chronic obstructive pulmonary disease (COPD), arthritis, and diabetes may not want to go to the hospital.

Technology will play an important in the home health market. The rising use of digital devices to monitor health at home is one of the emerging trends. Home healthcare providers are now using big data, AI, and automation to make the consumer experience novel. With the help of big data, it is possible to recognize patterns among the patients, which will help in better treatment and diagnosis. Data analytics have been used to manage the flu epidemic and identify the strains to include in the flu vaccine. Software solutions and platforms are used for remote monitoring of health.

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Home Healthcare Market Regional Insights

Home Healthcare Market Report Snapshots

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What is the global market size of Home Healthcare Market?

Who are the key vendors in the Home Healthcare Market?

What is the key driver of Home Healthcare Market?

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Which region accounted for the largest share in Home Healthcare Market?

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