The Global Home Healthcare Market Size is estimated to be over USD 645 billion by 2025. Increase in the number of people diagnosed with chronic diseases, growing disposable income, rising awareness for lifestyle disorders and technological advancements are some of the prime reasons driving the home healthcare market growth. Global home healthcare market is expected to grow at a CAGR of 8.7% during the forecast period.
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Advancements in the medical field have led to an increase in life expectancy of people, with more number of people exceeding the average age of 50 years. For example, according to United Nations, by 2050, the number of elderly people will triple as a share of total population globally. These changing demographics are shifting a substantial amount of population to the higher illness categories that require continuous medical interventions. Thus, aging population will create the additional demand for home healthcare services and devices which will drive the market growth.
The global home healthcare market is segment by devices, services and region. The home healthcre devices market is further catogorized as diagnostic & monitoring devices, therapeutic devices and home mobility assist devices. On the basis of home healthcare services the market is further classified as rehabilitation services, telehealth, respiratory therapy services, infusion therapy services, unskilled homecare services. The regional market of global home healthcare is segmented as North America (U.S., Canada and Mexico), Europe (Germany, UK, France, Italy, Russia, Rest of Europe), Asia Pacific (China, Japan, India, Korea, Southeast Asia and Rest of Asia-Pacific) and South America, Middle-Eats & Africa (Brazil, Egypt, Saudi Arabia, South Africa, Nigeria, and Rest of the World). In , North America dominated the global home healthcare market and is expected to retain its dominance during the forecast period from 2019-2025.
3M Healthacre, Bayer, Roche, Abbot Laboratories and others are some of the leading players having a presence in the global home healthcare market. These companies are leveraging on the technological advancements to widen their product reach and expand their consumer range. In order to increase their flexibility and the willingness to adapt products in response to customer feedback, companies are making using of technology to become more customer centric.
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Key segments of the global home healthcare market
Device Type Overview, 2015-2025 (USD million)
- Diagnostic & Monitoring Devices
- Therapeutic Devices
- Home Mobility Assist Devices
Services Overview, 2015-2025 (USD million)
- Respiratory Therapy
- Infusion Therapy
- Unskilled Homecare
Regional Overview, 2015-2025 (USD million)
- North America
- Rest of Euorpe
- Asia Pacific
- Southeast Asia
- Rest of Asia Pacific
- South America, Middle-East & Africa
- Saudi Arabia
- South Africa
- Rest of the World
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