South Korea Home Healthcare Services Market Overview, 2028

South Korea Home Healthcare Services Market Overview, 2028

The prevalence of chronic disorders such as hypertension, diabetes, arthritis, cancer, and cardiovascular illnesses is increasing, which is aiding the growth of the home healthcare market. Chronic disease management and treatment have risen to the top of the priority list. The need for home healthcare services in South Korea is predicted to rise as the country's population ages. This is due to the fact that older people are more likely to have chronic health concerns that necessitate continuing care and support. As healthcare costs in South Korea continue to grow, more patients are looking for ways to cut their healthcare bills. As home healthcare can be more cost-effective than hospital-based care, demand for these services is increasing. People are increasingly willing to accept care at home as a result of the COVID-19 pandemic. People are more willing to receive care at home to avoid the risk of infection. The Ministry of Health and Welfare is the primary regulatory organization for home healthcare in South Korea. The Ministry establishes rules and regulations for home healthcare services as well as oversees their implementation. The Ministry also offers money and support for home healthcare services, and it collaborates with other government agencies and private organizations to ensure that individuals in need receive them. Furthermore, the National Health Insurance Service (NHIS) oversees and regulates home healthcare services in South Korea, ensuring reimbursement and the quality of the service given.

According to the research report ""South Korea Home Healthcare Services Market Overview, 2028,"" published by Bonafide Research, the South Korea Home Healthcare Services market is anticipated to grow with more than 11% CAGR from 2023 to 2028. South Korea's population is increasingly aging, which is increasing demand for home healthcare services. The country has one of the world's fastest-aging populations, prompting a trend toward home-based care to meet the healthcare demands of elders. South Korea is noted for its technical advances, which are incorporated into home healthcare services. Technology, from telemedicine platforms to wearable gadgets for remote patient monitoring, plays a critical role in providing efficient and effective care at home. The South Korean government has put rules and efforts in place to help with home healthcare services. Programs such as the Community Care Project provide financial support for home care services, supporting their expansion and making them available to individuals in need. South Korea has a technologically aware culture, and this attitude extends to healthcare. As the populace rapidly accepts new technology, telehealth and remote monitoring are becoming more generally acceptable and accessible in the field of home healthcare. South Korea has initiatives in place to assist caregivers who provide family members with home-based care. These programs provide caregivers with training, respite care, and financial aid. South Korea's healthcare system emphasizes preventive treatment, and this strategy extends to home healthcare services. Health education, early intervention, and wellness promotion programs and activities serve to prevent the worsening of health disorders, lowering the need for acute treatment.

Based on type market is segmented into skilled services and unskilled services. Skilled services type is anticipated to play significant role in development of South Korea home healthcare services market in upcoming time frame. Skilled home care services can aid in the reduction of hospital readmission rates, which are a key source of worry in South Korea's healthcare system. Skilled services can minimize complications and encourage speedier recovery by offering continuing monitoring, medication management, and rehabilitation, thereby lowering healthcare expenses. Technology advancements such as remote patient monitoring, telemedicine, and wearable gadgets are opening up new avenues for providing competent services in the home. These technologies have the potential to improve care coordination and patient outcomes and make skilled services more accessible and cheap. Through numerous laws and financial programs, the South Korean government is aggressively fostering the development of the home healthcare sector. This involves expanding home care insurance coverage, investing in skilled worker training, and supporting the use of technology in home care delivery. Patients are increasingly looking for personalized care programs that are tailored to their specific requirements and preferences. This kind of individualized care can be provided by skilled professionals by personalizing interventions depending on a patient's medical history, functional limits, and desired results. In South Korea, there is an increasing emphasis on preventative care, and skilled services can play an important part in this trend. Skilled services can help prevent problems and improve overall health outcomes by offering early therapies and monitoring for chronic conditions. South Korea is investing in programs to train and develop qualified home care personnel, such as nurses, therapists, and home health aides. This expanding and qualified labor pool is critical to meeting the growing demand for specialized services in the home healthcare industry.

In terms of services type segment market is divided into rehabilitation therapy services, hospice and palliative care services, respiratory therapy services, infusion therapy services, pregnancy care services and others (transportation, laboratory and X-ray imaging, pharmaceutical services). Respiratory therapy services is among the common home healthcare services provided in South Korea and is anticipated to gain significant momentum as well. The prevalence of respiratory problems tends to rise as the population ages. As elderly people frequently require continuing respiratory assistance and rehabilitation, home-based services are an appealing alternative for meeting their specific needs while allowing them to remain in a familiar and comfortable environment. Individuals with chronic respiratory disorders who get home-based respiratory therapy can considerably reduce hospital visits and readmissions. Continuous monitoring, education, and home intervention can help to prevent exacerbations, resulting in better disease management and a reduction in the requirement for acute care. South Korea has put legislation and efforts in place to assist home healthcare services, such as respiratory treatment. Programs that provide financial assistance or subsidies for home respiratory devices and therapies promote the growth and accessibility of these services.

Considered in this report:
• Geography: South Korea
• Historic year: 2017
• Base year: 2022
• Estimated year: 2023
• Forecast year: 2028

Aspects covered in this report:
• South Korea Home Healthcare Services market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Type:
• Skilled Services
• Unskilled Services

By Skilled Services Type:
• Rehabilitation Therapy Services
• Hospice and Palliative Care Services
• Respiratory Therapy Services
• Infusion Therapy Services
• Pregnancy Care Services
• Others (Transportation, Laboratory and X-ray imaging, Pharmaceutical services)

By Indication:
• Respiratory Diseases
• Movement Disorders
• Pregnancy
• Cardiovascular Disorders & Hypertension
• Cancer
• Diabetes
• Wound Care
• Hearing Disorders
• Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV)

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and list out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, and annual reports of companies, analyzing the government-generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducting trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers into regional aspects, tier aspects, age groups, and gender. Once we have primary data with us we started verifying the details obtained from secondary sources.

Intended audience:
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to the Home Healthcare Services industry, government bodies, and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.