The global home healthcare market is prognosticated to surpass USD 4,14,681.2 million at a staggering 8.5% CAGR over the assessment period (2017-2023). Home healthcare solutions help in collecting information from different records of patients for conjuring the overall picture of health comprising of sentiment data, lifestyle, medical, genetic and biological. It offers an array of services including skilled nursing, occupational therapy, speech therapy and physical therapy. Generally, the home care services are less expensive, extremely convenient for patients and equally effective to skilled nursing facility.
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Home health care’s ultimate goal is the treatment of the injury or disease in its entirety that aids the patient in regaining independence and becoming self-sufficient faster. Not only this, home healthcare also includes assisting senior or elderly citizens with day to day activities such as dressing, bathing, eating and also checking the medication routine. Under home healthcare the different professionals include home health aides, therapists and licensed nurses that work mostly for public health departments or home health agencies.
There are several factors that is propelling the growth of the home healthcare market. These factors according to MRFR (Market Research Future) report include improved patient outcome, cost efficiency, long term care, patient preferred settings, impactful and timely treatment, high quality, reduced medical errors, increasing cases of target diseases mainly Alzheimer’s and dementia and also orthopedic diseases, government initiatives that is encouraging home healthcare, technological advancements in healthcare and increasing geriatric population.
- Testing, Screening, & Monitoring Products
- Sleep Apnea Monitors
- Pulse Oximeters & Heart Rate Monitors
- Cholesterol Monitoring Devices
- Holter and Event Monitors
- Blood Pressure Monitors
- Blood Glucose Monitors
- Therapeutic Products
- Dialysis Equipment
- Wound Care Products
- Respiratory Therapy Equipment
- Insulin Delivery Devices
- IV Equipment
- Skilled Nursing Services
- Unskilled Care Services
- Rehabilitation Therapy Services
- Respiratory Therapy Services
- Pregnancy Care Services
- Infusion Therapy Services
- Clinical Management Systems
- Agency Software
- Telehealth Solution
- Hospice Solutions
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Based on region, the home healthcare market covers latest trends and growth opportunities across North America, Europe, Asia Pacific and Middle East and Africa. Of these, North America will lead the market owing to rising government expenditure made on home healthcare sector and increasing incidence of chronic diseases. The home healthcare market in Europe will have the second largest share due to support from private sectors and government for well-developed technologies and research and development activities. In the APAC region, the home healthcare market is expected to grow at the fastest pace due to massive patient population and increasing geriatric population. Moreover, accessibility of skilled labor will also fuel market growth in this region. On the other hand, the home healthcare market in the Middle East and Africa will have minimum share owing to economic conditions in the African region.
Leading players profiled in the home healthcare market include Kinnser Software (US), A&D Company (US), 3M (US), B. Braun Melsungen AG (Germany), F. Hoffmann-La Roche AG (Switzerland), McKesson Corporation (US), Fresenius SE & Co KGaA (Germany), LG Electronics (South Korea), Koninklijke Philips N.V. (Netherlands), Medtronic Plc (Ireland), Apple (US), Omron Corporation (Japan), Becton Dickinson Company (US), GE Healthcare (US), and Abbott Laboratories (US).
Feb 2019- Leading home healthcare provider Aveanna Healthcare has entered into an agreement to acquire Maxim Healthcare Services’ home healthcare division to offer high-quality care and thereby create a difference in the patients and families lives they serve.
- Home Healthcare Equipment Manufacturers
- Home Health Software Vendors
- Home Healthcare Service Providers
- Medical Devices Companies
- Research and Development (R&D) Companies
- Nursing Services Providers
- Government Research Institutes
- Academic Institutes and Universities
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