Home Healthcare Market Size (2020 to 2025)
As per our recent research report, the size of the global home healthcare market is forecasted to worth USD 465.64 billion by the end of 2025, registering a CAGR of 9.5% between 2020 to 2025.
Key Market Drivers:
Rising incidence of chronic diseases and rapid growth of the elderly population, increase in requirements for cost-effective healthcare delivery, because of rising healthcare costs and technological advancements in homecare devices cause growth for the home healthcare market. Similarly, the growing popularity of Telehealth and untapped emerging regions provides significant growth opportunities for market players in the market. The rising aging population boosts the demand for home healthcare and similarly reduces the burden on governments and various healthcare systems as the aging population more prone to chronic diseases. It further reduces the unnecessary visits, hospital admissions & readmissions, and travel expenses to meet the healthcare professionals, which is estimated to return huge demand for the home healthcare market during the forecast period.
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Significant Challenges:
In-home healthcare, nurse-physicians have lesser face-to-face Contact. The nurse should be responsible for making assessments and communicating findings; it affects patient safety and outcomes. However, situational variable presents risks to patients that will be a severe problem. The unavailability of homecare workers is another significant challenge to this market.
COVID-19 impact on the global home healthcare market:
In recent times, the coronavirus pandemic has a mixed impact on home healthcare markets. The Home healthcare market includes products and services. There has been a positive impact on blood glucose monitors, blood pressure monitors, pulse oximeters, and temperature monitors. It is assumed that due to this pandemic, home healthcare services would be booming because of home care providers, but the scenario is different. Reports have shown that this market growth is declined. However, it is expected to be as normal as it was before in the coming years.
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This research report on the global home healthcare market has been segmented & sub-segmented based on the product type, type service type, software, and region.
By Product Type:
- Testing, Screening, & Monitoring Products
- Therapeutic Products
- Mobility Care Products
By Type:
- Home Telehealth Monitoring Devices
- Home Telehealth Services
- Home Telehealth Software
By Services Type:
- Rehabilitation Therapy Services
- Infusion Therapy Services
- Unskilled Care Services
- Respiratory Therapy Services
- Pregnancy Care Services
- Skilled Nursing Care Services
- Hospice
- Palliative Care Services
By Software:
- Agency Software
- Clinical Management Systems
- Hospice Solutions
By Region:
- North America
- Europe
- Asia Pacific
- Latin America
- The Middle East and Africa
Geographically, North America accounted for a majority share in the Home healthcare market in 2019. North America’s largest share was attributed to factors like widespread chronic diseases, high healthcare expense, rise in disposable income, high geriatric population, and healthcare infrastructure facilities. Besides, high patient awareness with healthcare expenses, initiatives by the Centers for Medicare, and technological advancements contribute to this market boom.
In Europe, Germany held the largest share in-home healthcare market in 2019. The factors that influenced the market growth in this area are increasing healthcare expenditure in this country and demand for the skilled nurse workforce.
The Asia pacific is supposed to have the highest growth in the home healthcare market after North America and Europe during the conjecture period. Prevalence of chronic diseases, growing economy, aging population, and availability of skilled labor at economical costs influence market growth in this locale. Japan had the largest share in this region due to the surge in the aging population and medical care associates.
The Middle East and Africa had a moderate share in-home healthcare market in 2019. It is estimated to have a standard share over the conjecture period due to influencing factors like high healthcare expenses, high disposable income, and healthcare infrastructure facilities.
NOTABLE COMPANIES IN THIS MARKET:
Companies that are playing a promising role in the global home healthcare market analyzed in this report are Almost Family Inc., Amedisys Inc., General Electric Company (GE), Kinner Software Inc., Omron Corporation, Linde Group, Roche Holding AG, Philips Healthcare, Mckesson Corporation, LHC Group Inc., Kindred Healthcare, Fresenius Se & Co Kgaa, Abbott Laboratories, and Apria Healthcare Group.
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List of Tables & Figures of the report:
- Global Home Healthcare Market, By Region, From 2020 to 2025 (USD Billion)
- Global Home Healthcare Market, By Product, From 2020 to 2025 (USD Billion)
- Global Testing, Screening, & Monitoring Market, By Region, From 2020 to 2025 (USD Billion)
- Global Therapeutic Market, By Region, From 2020 to 2025 (USD Billion)
- Global Mobility Care Market, By Region, From 2020 to 2025 (USD Billion)
- Global Home Healthcare Market, By Service, From 2020 to 2025 (USD Billion)
- Global Rehabilitation Therapy Services Market, By Region, From 2020 to 2025 (USD Billion)
- Global Infusion Therapy Services Market, By Region, From 2020 to 2025 (USD Billion)
- Global Unskilled Care Services Market, By Region, From 2020 to 2025 (USD Billion)
- Global Respiratory Therapy Services Market, By Region, From 2020 to 2025 (USD Billion)
- Global Pregnancy Care Services Market, By Region, From 2020 to 2025 (USD Billion)
- Global Skilled Nursing Care Services Market, By Region, From 2020 to 2025 (USD Billion)
- Global Hospice Market, By Region, From 2020 to 2025 (USD Billion)
- Global Palliative Care Services Market, By Region, From 2020 to 2025 (USD Billion)
- Global Home Healthcare Market, By Software, From 2020 to 2025 (USD Billion)
- Global Agency Software Market, By Region, From 2020 to 2025 (USD Billion)
- Global Clinical Management Systems Market, By Region, From 2020 to 2025 (USD Billion)
- Global Hospice Solutions Market, By Region, From 2020 to 2025 (USD Billion)
- Global Home Healthcare Market, By Type, From 2020 to 2025 (USD Billion)
- Global Home Telehealth Monitoring Devices Market, By Region, From 2020 to 2025 (USD Billion)
- Global Home Telehealth Services Market, By Region, From 2020 to 2025 (USD Billion)
- Global Home Telehealth Software Market, By Region, From 2020 to 2025 (USD Billion)
- 150+ More
Browse Regional Reports:
- North America Home Healthcare Market
- Europe Home Healthcare Market
- Asia-Pacific Home Healthcare Market
- Latin America Home Healthcare Market
- The Middle East and Africa Home Healthcare Market
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