Global Home Healthcare Market
Author : geeta narwade | Published On : 11 Aug 2021
The Global Home Healthcare Market size is expected to reach US$ XXBn. by 2026 from US$ XXBn. in 2019, at a CAGR of 8.5% during the forecast period.
Home healthcare is useful in getting diagnoses and a widerange of healthcare services for illness among patients at home. Home healthcare deliversa wide range of health care services which are usually more convenient, expensive, and provided at doorsteps.
The report focuses on home healthcare market value at the top five regions and 26 countries of the world, which shows a regional development, including market size, share, revenue, and much more across the globe. The report has covered, capacity, production value, cost/profit, and supply/demand by statistical analysis. A brief analysis of drivers, restraints, opportunities, and challenges in the market is also covered with examples by region. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments. It also has covered the analysis of key player’s growth strategies, micro and macro analysis of markets, key developments, and key trends in the market.
Global Home Healthcare Market Dynamics:
Technological advances in healthcare and diagnosis equipment and government initiatives in both emerged and emerging countries are the key driving factors for the home healthcare market demand in the future. Taking a signal from patient demands, players such as Philips have made technological advancements in their products. For example, according to IFA 2020, Philips focused on the expansion of its consumer health portfolio with a range of innovations to help people maintain health-enhancing lifestyle routines and digital opportunities that allow them to stay in touch with their healthcare professionals virtually.
The increasing elderly population and increasing incidences of chronic diseases across the globe are other main factors thatare expected to support the growth of the home healthcare market. Hospitalization for the long term is not carried out in hospitals which has led to the introduction of home healthcare. Home healthcare offers better treatment facilities with skilled professionals for patients suffering from diseases.
Home medical devices may lead to serious health disorders and also misguide treatment therapy, which are the key restraint factors that limit the growth of the global home healthcare market.Also, According to American Nurses Foundation, about 79% of health care workers said they haven’t received enough information about the COVID-19 vaccine, in terms of safety, side effects, and administration. This can be aserious issue for home healthcare workers. For example, according to CDC, more than 200,000 U.S. health care workers have now contracted the virus. More than 800 have died from COVID-19.
Global Home Healthcare Market Opportunity
The accessibility of portable medical microcarts is expected to create growth opportunities for players in the global home healthcare market. For instance, in July 2019, Henry Schein Medical, Medpod, and Uber Health collaborated to allow physicians to order portable medical microcarts to be driven to patients' homes for remote examinations.
The reimbursements for home healthcare devices are also expected to support the growth of the market. For instance, in July 2020, the Centers for Medicare & Medicaid Services, U.S., put forward a proposed rule, under which home-based dialysis equipment and supplies for patients with end-stage kidney disease would be eligible for additional Medicare reimbursements.
Global Home Healthcare Market Segment Overview:
By Product, the market is segmented into Testing, Screening, & Monitoring Products, Therapeutic Products, and Mobility Care Products. In 2020, the therapeutic products segment is dominating the market. Thanks totherapeutic products helps the patients to get better treatment at home as well as in hospitals. Devices such as ventilators, wheelchairs, blood glucose meters, apnea, and other home devices are useful for providing health benefits among patients. The devices play an important role in the home healthcare market, hence manufacturers are concentratingon providing devices with advanced technology in the market.
Global Home Healthcare Market
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Global Home Healthcare Market Regional Insights:
North America is dominating the home healthcare market and is expected to retainits constant position during the forecast period (2020-2026). Thanks to the availability of better health coverage and high preference for home healthcare by the patients in North America. Also, the better advancement in products and services, as well as better insurance policies in North America, hence boost up the growth of the home healthcare market.
Europe accounted for the second-largest market for home healthcare, because ofthe increasing aged population, high prevalence of diabetes and cardiovascular diseases, and increasing healthcare investments by the European government. In Europe, Germany is leading the market,on account ofthe high preference for home healthcare services by patients for long-term care. Healthcare expenditure on home healthcare is high in Germany which eventually increases the growth of the market.
Asia-Pacific is expected to grow at the highest CAGR of XX% during the estimated period. This growth is attributed to the increase in the geriatric population as well as an increase in awareness about the facilities of home healthcare. Also, the rising health care expenditures in developing countries like India, China, and Japan are expected to be the fastest-growing countries in the Asia-Pacific home healthcare market during the forecast period (2020-2026).
The objective of the report is to present a comprehensive analysis of the Global Home Healthcare Market to the stakeholders in the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
The report covers all the aspects of the industry with a dedicated study of key players that includes market leaders, followers, and new entrants. PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
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The report also helps in understanding Global Home Healthcare Market dynamics, structure by analyzing the market segments and project the Global Home Healthcare Market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the Global Home Healthcare Market make the report investor’s guide.
Global Home Healthcare Market Scope: Inquire before buying
Global Home Healthcare Market1
Global Home Healthcare Market, by Region
• North America
• Asia Pacific
• Middle East & Africa
• South America
Global Home Healthcare Market Key Players
• Koninklijke Philips N.V.
• Air Liquide
• Apple Home Healthcare
• Davita Inc
• Home Health Care, Inc
• Home Healthcare Solutions Company, LLC
• Kindred Healthcare, LLC
• LHC Group, Inc.
• National HealthCare Corporation
• PORTEA MEDICAL
• OMRON Corporation
• B. Braun Melsungen AG
• BPL Medical Technologies
• CARDINAL HEALTH and Sunrise Medical (US) LLC
• Fresenius SE & Co. KGaA
• GE Healthcare
• Linde plc
• F. Hoffmann-La Roche Ltd
• McKesson Medical-Surgical Inc.
• Medline Industries, Inc.
• Medtronic PLC
• 3M Healthcare
• Baxter International Inc.
• Arkray, Inc.
• Becton, Dickinson And Company
• Acelity L.P.
• Hollister Inc.
• ConvaTec Group PLC
• Molnlycke Health Care
• Almost Family Inc.
• Abbott Laboratories
• Sunrise Medical Inc.
• Bayer AG
• Nxstage Medical, Inc.
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