Home Healthcare Market Size, Share, Growth and Global Industry Analysis By Type & Application, Regional Insights and Forecast to 2024-2032
Growth Factors of Home Healthcare Market
The home healthcare market size was valued at USD 288.38 billion in 2023, and the market is now projected to grow from USD 302.22 billion in 2024 to USD 678.59 billion by 2032, exhibiting a CAGR of 10.6% during the forecast period of 2024-2032.
The COVID-19 pandemic impeded domestic healthcare market growth globally, with reduced demand in each developed and developing international locations because of contamination transmission worries. Declining surgical procedures similarly contributed to this downturn, leading to reduced revenues for home fitness corporations. The demographic skew closer to older patients, who faced higher contamination risks, also impacted demand for domestic visits at some stage in the pandemic.
The growing burden of persistent disorders globally, coupled with high medical institution admission quotes and treatment prices, is driving a shift closer to fee-effective solutions like domestic fitness offerings. Patients an increasing number of choose the benefit and affordability of receiving care of their homes, augmenting marketplace boom for such services.
The COVID-19 pandemic expanded the mixing of telehealth structures into domestic health offerings, previously underutilized. Key gamers in the market have redirected their awareness to leverage telehealth for improved provider transport. This shift towards utilizing telehealth systems is predicted to seriously boost the adoption of domestic fitness offerings with the aid of imparting progressed healthcare options at home.
Comprehensive Analysis of Home Healthcare Market
The home healthcare market growth is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the industry. These segmentations are methodically segregated by type analysis, by indication analysis, by payer analysis. By type analysis incudes services and products. By indication analysis incudes cancer, neurological disorders, mobility disorders, diabetes, cardiovascular disorders, and others. By payer analysis public and private.
The North America region lead the home healthcare market share by benefitting a market size of USD 121.83 billion in 2023 due to the rising desire of sufferers in the direction of domestic fitness due to blessings, which includes privateness, comfort, value-effectiveness, availability of reimbursement for various domestic fitness offerings, presence of key provider vendors, enlargement of services, and release of diverse merchandise with the aid of medical tool manufacturers for the usage of them in home health settings and services by using home fitness providers.
The top gamers inside the market play a critical role in the industry assuring market boom and placing marketplace standards. These players include, Amedisys, Trinity Health, LHC Group, Inc., Portea Medical, BAYADA Home Health Care, AccentCare, Inc., LifePoint Health, Inc., The Pennant Group, Inc., Abbott, Baxter, Masimo, Omron these market players provide a level-playing competitive landscape.
In April 2023, AccentCare and Memorial Hermann Health System joined forces to merge their home health and hospice operations in Texas.
Segmentation Table
Attribute Details
Study Period 2019-2032
Base Year 2023
Estimated Year 2024
Forecast Period 2024-2032
Historical Period 2019-2022
Growth Rate CAGR of 10.6% from 2024-2032
Unit Value (USD billion)
Segmentation By Type
Services
Physician Care
Nursing Care
Physical, Occupational, and Speech Therapy
Medical Social Services
Others
Products
Diagnostic
Blood Glucose Monitors
Pulse Oximeters
Blood Pressure Monitors
Others
Treatment
Home Dialysis Machine
Infusion Pumps
Nebulizers
Oxygen Concentrators
Wheelchairs & Scooters
Walking Aid Devices
Others
By Indication
Cancer
Neurological Disorders
Mobility Disorders
Diabetes
Cardiovascular Disorders
Others
By Payor
Public
Private
By Geography
North America (By Type, By Indication, By Payor, By Country)
- U.S.
- Canada
Europe (By Type, By Indication, By Payor, By Country /Sub-Region)
- Germany
- U.K.
- France
- Italy
- Spain
- Scandinavia
- Rest of Europe
Asia Pacific (By Type, By Indication, By Payor, By Country /Sub-Region)
- China
- India
- Japan
- Australia
- Southeast Asia
- Rest of Asia Pacific
Latin America (By Type, By Indication, By Payor, By Country /Sub-Region)
- Brazil
- Mexico
- Rest of Latin America
Middle East & Africa (By Type, By Indication, By Payor, By Country /Sub-Region)
- GCC
- South Africa
- Rest of the Middle East & Africa
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