Home Healthcare Market is valued at USD 182.21 Billion in 2020 and expected to reach USD 316.34 Billion by 2027 with the CAGR of 8.20% over the forecast period.
Scope of Global Home Healthcare Market Report:
Home health care includes a wide range of health care services that can be assumed in-home for an illness or injury. Home health care is usually less expensive, more convenient and effective as care get in a hospital or skilled nursing facility (SNF). Home health care is the provision of services to individuals and their families in their homes for the purpose of promoting, maintaining, or restoring health. Persons using home health care services provided by a home health care agency include the chronically ill and disabled of all ages, those recuperating from hospitalization or acute illness, and the terminally ill. Home health care can include wide care given by skilled medical professionals, including skilled nursing care, physical therapy, occupational therapy and speech therapy. It is a growing industry, with a plethora of highly specific services available to cater to the wide-ranging and unique needs of the senior citizen population.
Some of the key players/Manufacturers involved in the Home Healthcare Market are:
- GE Healthcare
- Abbott Laboratories
- Almost Family
- Braun Melsungen AG
- Apple Inc.
- Mobility assist
- Rehabilitation Services
- Unskilled Home Care
- Respiratory Therapy Services
- Infusion Therapy Services
Increasing Ageing Population, Rising Incidence of Chronic Diseases and Need for personal medical care costs is Driving the Market Growth.
Increasing ageing population, rising incidence of chronic diseases and need for personal medical care costs are some of the major factors driving the growth of global home health care market size. Demand for home health care is expected to increase as more people are living longer and because older adults rely on home health services to a greater extent than any other population. According to World health Organization, it has been estimated that in 2050, there will be two billion people over the age of 60 years, with 80% of them living in developing countries. The global shift in the burden of illness from acute life-threatening infectious diseases to chronic disabling no communicable diseases associated with population aging can cause limitations with temporary or permanent functional disabilities and diminished quality of life.
North America expected to Dominate the Global Home Healthcare Market
North America is expected to dominate the global home healthcare market trends attributed to the high healthcare expenditure, high disposable income, the increasing overall geriatric population, high disposable income and superior healthcare infrastructure in this region. According to U.S. Centers for Medicare & Medicaid Services, the National Health Expenditure Accounts (NHEA) is the official estimates of total health care spending in the United States. U.S. health care spending grew 4.6 percent in 2018, reaching USD3.6 trillion or USD11, 172 per person. As a share of the nation’s Gross Domestic Product, health spending accounted for 17.7 percent.
In Europe, the central government provides some reimbursement benefits for this service. People are free to choose the suppliers and even the type of healthcare. The trends in home health care is developing at a promising growth in Asia pacific due to the growing elderly population and the rising number of people determined fight diseases like heart issues, diabetes and different respiratory sickness.
On Special Requirement Home Healthcare Market Report is also available for below region:
- S., Canada
- Germany, France, U.K., Italy, Spain, Sweden, Netherlands, Turkey, Switzerland, Belgium, Rest of Europe
- South_Korea, Japan, China, India, Australia, Philippines, Singapore, Malaysia, Thailand, Indonesia, Rest Of APAC
- Mexico, Colombia, Brazil, Argentina, Peru, Rest of Latin America
Middle East and Africa
- Saudi Arabia, UAE, Egypt, South Africa, Rest of MEA
Key Questions This Study Will Answer:
- What is the scope of growth in the Home Healthcare market?
- What is the core strategy for growth in the Home Healthcare market?
- What is the promise of growth in the long run?
- What is the promise of growth during the forecast period?
- How big is the Home Healthcare market?
- What are the main opportunities for growth in the Home Healthcare market?
- What is the scope of growth in a particular country/ region of my interest?
- What are the risks involved in investing in the Home Healthcare market?
- Who are the key players in the Home Healthcare market?
- What are the core strategies of key players in the Home Healthcare market?
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