The Global Home Healthcare Market size is expected to reach $405.6 billion by 2028, rising at a market growth of 8.3% CAGR during the forecast period.
Supportive care is given in the home and is known as home care or home health care. While receiving assistance to recuperate from sickness, accident, or handicap, home care enables a person to stay in the comfort of their own home. The typical healthcare setting, including a hospital, rehabilitation center, skilled nursing facility, or long-term care environment, may not always be the only place where healthcare and support services are offered.
As their health care and daily life requirements are taken care of, people may stay in the comfort of their homes, close to their loved ones, when they get care at home. Patients who get home healthcare services have a team of healthcare professionals working with them to manage their needs and those of their families. Chronic illnesses, including diabetes, hypertension, HIV/AIDS, heart failure, cancer, and chronic obstructive pulmonary disease, are all covered by home care services (COPD). People with physical or cognitive impairments may get home care to assist them in carrying out everyday tasks.
Patients who are receiving hospice care may also get care at home. Patients with a prognosis of six months or less that have been diagnosed with a terminal disease (a condition that cannot be cured) are eligible for hospice home care. People with a terminal disease are able to stay in the comfort of their own homes, accompanied by familiar people and objects, owing to hospice home care.
Depending on their physical state and particular ailment or injury, people who get home care have a range of demands. Patients may want assistance or reminders to take their prescriptions. Patients often need help walking, moving from a bed to a chair or wheelchair, or entering and exiting the shower. Many patients have mobility aids that help them go about their homes, such as wheelchairs, canes, walkers, and prosthetic devices.
The COVID-19 pandemic's impact on the world market for home healthcare has been conflicting. The sales of several home healthcare equipment, including blood pressure monitors, pulse oximeters, blood glucose monitors, and temperature monitors, have benefited from COVID-19. Due to increased knowledge of the possible dangers in case of infection, people all around the globe are buying more of these products. The home medical device sector has seen increased sales as a consequence of the pandemic. Providers of home healthcare services are now concentrating on adjusting to the pandemic by being responsive to changing client expectations.
WHO estimates that by 2030, 1 in 6 individuals worldwide would be 60 years of age or older. From 1 billion in 2020, there will be 1.4 billion persons over the age of 60 by this time. By 2050, there will be twice as many people worldwide who are 60 years of age or older. 2 billion. The number of persons 80 or older is anticipated to triple between 2020 and 2050, reaching 426 million. Due to the rising number of elderly people and the high risk of health problems in this age group, demand for improved healthcare facilities and the convenience of avoiding hospitals develop. This has led to home healthcare becoming more and more popular.
WHO estimates that there were 108 million cases of diabetes in 1980 and 422 million cases in 2014. Compared to high-income countries, prevalence has been increasing more quickly in low- and middle-income nations. Diabetes is a significant contributor to renal disease, heart attacks, blindness, strokes, and lower limb amputation. Due to the increased frequency of chronic illnesses, there is now a healthcare crisis with high expenditures, poor access to treatment, and subpar care quality. As a consequence, there is a growing need for home healthcare facilities all over the world.
In many industrialized countries, home healthcare services are covered by insurance; nevertheless, Medicare-certified home healthcare firms are the only ones who can make use of this insurance. Equipment needed for rehabilitation, telemetry, or multi-parameter monitoring is not covered by insurance. In these countries, insurance coverage for this equipment varies. In many nations, insurance companies only pay for in-home healthcare services for the elderly and those with chronic diseases if they are in post-hospitalization therapy.
On the basis of type, the home healthcare market is divided into services and product. In 2021, the product segment acquired a remarkable revenue share in the home healthcare market. This is because of the wide availability of home healthcare and diagnosis products such as diabetes home diagnosis test kit. The demand for home healthcare products is further growing due to the rising prevalence of obesity, diabetes, eye disorders and other such issues.
Based on product type, the home healthcare market is classified into therapeutics; testing, screening, monitoring; and mobility care. The therapeutics products category held the largest revenue share in the home healthcare market in 2021. The prevalence of illnesses requiring regular use of therapeutic equipment, such as insulin delivery systems, home dialysis systems, and intravenous pumps, is the source of this expansion.
Based on service type, the home healthcare market is classified into skilled nursing, rehabilitation therapy, unskilled care, hospice & palliative care, respiratory therapy, infusion treatment, and pregnancy care. In 2021, the skilled nursing sector had the major revenue share 2021. When someone has a severe or chronic ailment and needs support to manage it, particularly in the wake of the pandemic, skilled nursing at home is one such dependable and affordable alternative they might choose. Seniors use these services the most often, mostly because they have trouble getting about the city on their own.
Based on Indication, the home healthcare market is divided into diabetes, cancer, wound care, pregnancy, respiratory disease, movement disorders, cardiovascular diseases & hypertension, and other indications. The cancer & other indications sector had the highest revenue share in 2021. All across the globe, cancer seems to be quite common. Home healthcare may be very beneficial for a cancer patient and ease the stress on the family.
| Report Attribute | Details |
|---|---|
| Market size value in 2021 | USD 234.7 Billion |
| Market size forecast in 2028 | USD 405.6 Billion |
| Base Year | 2021 |
| Historical Period | 2018 to 2020 |
| Forecast Period | 2022 to 2028 |
| Revenue Growth Rate | CAGR of 8.3% from 2022 to 2028 |
| Number of Pages | 320 |
| Number of Tables | 520 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Indication, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Based on geography, the home healthcare market is classified into North America, Europe, Asia Pacific, and LAMEA. With the largest revenue share, the North American region dominated the home healthcare market in 2021. The market for home healthcare was dominated by North America. Due to its better healthcare infrastructure and increased prevalence of chronic diseases, North America holds a sizable portion of the worldwide market. Some of the important variables are the region's sizable aging population, advanced healthcare infrastructure, and comparatively higher levels of disposable income.
Free Valuable Insights: Global Home Healthcare Market size to reach USD 405.6 Billion by 2028
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Amedisys, Inc., LHC Group, Inc., ResMed, Inc., Omron Corporation, Abbott Laboratories, Invacare Corporation, Linde PLC, A&D HOLON Holdings Company, Limited, Fresenius SE & Co. KGaA and F. Hoffmann-La Roche Ltd.
By Type
By Indication
By Geography
The Home Healthcare Market size is projected to reach USD 405.6 billion by 2028.
Growing elderly population are driving the market in coming years, however, Limited Insurance Protection restraints the growth of the market.
Amedisys, Inc., LHC Group, Inc., ResMed, Inc., Omron Corporation, Abbott Laboratories, Invacare Corporation, Linde PLC, A&D HOLON Holdings Company, Limited, Fresenius SE & Co. KGaA and F. Hoffmann-La Roche Ltd.
The Services market is leading the segment in the Global Home Healthcare Market by Type in 2021; thereby, achieving a market value of $329.3 billion by 2028.
The North America market dominated the Global Home Healthcare Market by Region in 2021; thereby, achieving a market value of $147.9 billion by 2028.
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