Global home healthcare market has witnessed growth in the past few years due to rising geriatric population, increasing preference for home settings over hospitals or long-term care centers, and technological advancements in home care products and services. Home healthcare provides medical care and services to patients at their home for illnesses or injuries that otherwise may require hospitalization or care at nursing home. It allows patients to receive medical treatment while staying in the comfort and privacy of their own home surrounded by loved ones. Moreover, home healthcare solutions reduces medical costs, and are more convenient to receive continued care post-discharge from hospitals or facilities. Global home healthcare market growth is driven by growing chronic diseases and preference for in-home medical care.
Market Dynamics:
Global home healthcare market growth is primarily driven by rapidly aging population prone to chronic diseases and mobility issues, increasing healthcare costs leading to a preference for lower-cost home treatment over prolonged facility stays, greater availability of insurance coverage and reimbursement for home medical equipment and services, technological advancements enabling remote patient monitoring and more effective in-home care, and a global trend of healthcare moving from hospitals to home settings. However, significant costs associated with home healthcare devices and technologies, shortage of home care workers, and inconsistent reimbursement policies across regions can hamper the market growth. Increasing investments by market players, growing demand in developing countries, and emergence of connected devices and digital platforms can offer new market growth opportunities.
Key Features of the Study:
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