Projected to reach global market revenues of over US$ 4 Bn by the end of 2030, home healthcare continues to receive a strong impetus from a shifting preference for a value-based healthcare delivery model.
Expensive hospital stays, coupled with evolving patient expectations and advancing technologies, are putting immense pressure on healthcare systems to reimagine the way healthcare is delivered over the years. Home-based primary care and hospital-at-home care will continue to make significant strides in the near future, according to a new Future Market Insights (FMI) study on the global home healthcare market.
However, adoption of home healthcare products and solutions has been on a slight decline since Q1 2022 due to evolving priorities of industry amid the global outbreak of COVID-19. Nationwide lockdowns, shutdown of production units, and considerable alternations in supply chains are currently challenging the progress of home healthcare market. The market is however set for a rapid rebound post the containment of coronavirus.
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|Home Healthcare Market Size (2022)||US$ 3.13 Bn|
|Sales Forecast (2030)||US$ 4 Bn|
|Global Market Growth Rate (2022 to 2030)||3.1% CAGR|
|Share of Top 5 Market Players||50%|
Key Takeaways of Home Healthcare Market Study
- Prevalence of chronic diseases, especially among the geriatric population, is opening a broad array of opportunities for home healthcare companies.
- Infusion pumps would remain preferred among various home healthcare products such as pressure relief devices; ostomy drainage bags to follow closely.
- Stoma care would be the prominent application area in home healthcare market; key players to invest in IV medication.
- North America and Europe continue to offer opportunities of growth and profitability, owing to strong presence of leading players and rising adoption of home healthcare services.
Leading Manufacturers Capitalize on Product Portfolio Expansion and Distributional Partnerships
A majority of companies are focused on development of innovative home healthcare. Several prominent players are investing in expansion of their product portfolio thorough acquisitions in order to extend their geographical reach. For instance, the famous BD and C.R. Bard merger gave rise to a new global healthcare leader. With an aim to expand operations in the UK, Medline had announced opening of its new warehouse in the UK, in 2018.
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Some of the prominent players in home healthcare industry that are profiled in the FMI report, include Coloplast A/S, Baxter International Inc, B. Braun Melsungen AG, Hollister Incorporated, ConvaTec Group Plc, Medtronic plc., and Becton Dickinson and Co.
Know More About Report Inclusions
The FMI report brings to fore a comprehensive research on the market growth forecast at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2030. The global Home Healthcare market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights on Home Healthcare market on basis of product type (infusion systems, pressure relief devices, hydrocolloid dressings, hydrofibre dressings, hydrogel dressings, semi-permeable film dressings, superabsorbent dressings, wound contact layers, gauze sponges, gauzes, sponges, ostomy drainage bags), application (total parenteral nutrition (TPN), IV medication, pressure ulcer, stoma care), across seven major regions.
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Explore FMI’s Extensive ongoing Coverage on Healthcare Domain
Pharma and Healthcare Social Media Market – Pharma and healthcare social media marketing is an area that is extremely relevant to the modern, digital age, where stakeholders in the pharmaceuticals and healthcare industries are reaching out to their potential customers through digital, social media platforms.
Artificial Intelligence In Healthcare Market – Diverse interventions ranging from EHR (electronic health records) and patient records to surgical procedures application are extensively integrating AI, which in turn has revolutionized the clinical and healthcare settings.
Real-Time E-Healthcare System Market – Real-time e-healthcare system is one of the best ways to keep your health records and track it anytime, without any geographical constraint. Patients can always stay in touch with their doctors and communicate with them about any health issue.
Healthcare IT Outsourcing Market – The convergence of Information Technology and the healthcare industry is not the latest news, however, the notion is constantly subjected to innovations on the technological front. Leading healthcare organizations, as a part of their business digitalization strategy, are moving towards outsourcing their IT wings rather than investing in in-house teams.
Home Healthcare Software Market – The home healthcare software market is gaining popularity and is about to grow at a CAGR of 15% during 2022-2032.
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