Market Overview –

The Home Healthcare Market Size was assessed at USD 216.0 billion in 2021, and it is expected to rise from USD 246.1 billion in 2022 to USD 661.12 billion by 2030, representing a compound annual growth rate (CAGR) of 7.14% over the forecast period (2022- 2030).

The home healthcare market is witnessing significant growth as aging populations, advancements in medical technology, and changing healthcare preferences drive the shift towards patient-centric care delivery models. Home healthcare services encompass a wide range of medical and non-medical care provided to patients in their homes, including skilled nursing, rehabilitation therapy, and assistance with activities of daily living.

The Home Healthcare Market is witnessing significant growth, fueled by the increasing demand for home care services among aging populations and patients with chronic illnesses. These services provide personalized medical care, monitoring, and assistance in the comfort of patients' homes. The market offers a variety of services, including skilled nursing, therapy, and personal care, to support patients' needs and improve their quality of life.

Key factors driving market growth include the rising prevalence of chronic diseases, efforts to reduce hospital readmissions, and cost containment initiatives by healthcare payers. Additionally, advancements in telemedicine and remote patient monitoring technologies are enabling healthcare providers to deliver high-quality care outside traditional clinical settings, further driving market expansion.

Segmentation –

MRFR’s report states that the global market is segmented on the basis of product, service, and software.

By product, the market is segmented into testing, screening and monitoring products and therapeutic products. The testing, screening, and monitoring segment is expected to continue to lead the global Home Healthcare Market owing to the increasing demand for home healthcare solutions. This segment is anticipated to register a CAGR of 8.5% during the forecast period, 2017 to 2023.

The testing, screening, and monitoring products are further segmented into blood glucose monitors, blood pressure monitors, sleep apnea monitors, pulse oximeters and heart rate monitors, cholesterol monitoring devices, Holter and event monitors, and others.

Therapeutic products are segmented into respiratory therapy equipment, insulin delivery devices, IV equipment, wound care products, dialysis equipment, and others.

Service-wise, the market is segmented into skilled nursing services, rehabilitation therapy services, unskilled care services, respiratory therapy services, infusion therapy services, and pregnancy care services. Among these, the skilled nursing segment is touted to be a major services segment, projected to reach the value of USD 134166.3 million by the end of 2023. On the other hand, the segment of infusion therapy services is predicted to surge at a CAGR of 8.50% during the assessment period.

By software, the market is segmented into clinical management systems, agency software, telehealth solutions, and hospice solutions. Among these segments, the clinical management systems market is projected to lead the global market and is estimated to register a CAGR of 8.3% during the review period.

Regional Analysis –

The home healthcare market is experiencing rapid growth due to the rising preference for in-home medical services, especially among the elderly population and patients with chronic illnesses. Home healthcare offers convenience, cost-effectiveness, and personalized care, driving its adoption worldwide. Factors such as advancements in medical devices, supportive government initiatives, and the growing prevalence of chronic diseases propel market growth.

North America dominates the home healthcare market, followed by Europe and Asia Pacific. However, with the increasing aging population and rising healthcare costs, emerging economies in Asia Pacific and Latin America are witnessing a surge in demand for home healthcare services.

Key Players –

Home healthcare companies include Koninklijke Philips N.V., F. Hoffmann-La Roche AG, A&D Company, Fresenius SE & Co KGaA, Abbott, GE Healthcare, Axxess, CVS Pharmacy, Becton Dickinson Company, Omron Corporation, Medtronic PLC, LG Electronics, Kinnser Software, Apple, and 3M

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