Home Healthcare Market: Current Analysis and Forecast (2021-2027)

Home Healthcare Market: Current Analysis and Forecast (2021-2027)

Global Home Healthcare is Expected to Display an Elevated CAGR of ~10% over the forecast period (2021-2027)

The government efforts of several countries the establishment of telemedicine & telehealth defined reimbursement policies, and a legal framework for telehealth practices are intensifying the market growth. For example, in April 2019, the Centers for Medicare & Medicaid Services (CMS) announced and finalized changes in Medicare’s telehealth policy to enable remote patient monitoring for patients to access the latest technology and improve the coordination of healthcare processes.

The surging prevalence of disease coupled with the rising geriatric population is contributing to the growing market for home healthcare. In 2019, the world's population of people aged 65 and up totaled 703 million. In 2050, the number of elderly people is expected to increase to 1.5 billion. The proportion of the world's population aged 65 and up went from 6% in 1990 to 9% in 2019. By 2050, that percentage is expected to climb to 16%. Home healthcare is a cost-efficient alternative to an expensive hospital stay. increasing treatment cost is one of the prime concerns for governments and health organizations, and hence they are striving to curb healthcare costs. as per a report by The Commonwealth Fund, “hospital at home” programs enable patients to receive acute care at home with fewer complications and over 30% reduction in the cost of care.McKesson Medical-Surgical Inc., Fresenius Medical Care, Medline Industries, Inc., Medtronic PLC, 3M Healthcare, Baxter International Inc., B. Braun Melsungen AG, Arkray, Inc., F. Hoffmann-La Roche AG, Becton, etc., are some of the prominent players operating in the home healthcare market. Several M&As along with partnerships have been undertaken by these players to facilitate customers with innovative products.

Insights Presented in the Report
"Amongst product, therapeutic segment to grab considerable market share”

Based on the product, the market is fragmented in diagnostic, therapeutic, and mobility care. The diagnostics segment grabbed XX% market share in 2020. Surging prevalence of diseases owing to the rising geriatric population, surging pollution levels, etc., Also, uplifting healthcare costs across countries are contributing to the growing market for diagnostics. Moreover, the therapeutics segment would witness a considerable CAGR during the forthcoming years
"Amongst service, skilled nursing services segment dominated the market in 2020”

Based on the services, the market is fragmented into skilled nursing services, rehabilitation services, pregnancy care services, and others. The skilled nursing services segment grabbed XX% market share and dominated the market in 2020. The demand for skilled nursing staff is majorly emerging among elderly people. However, the lack of nursing staff is a major market growth hindered for this particular segment. As per the American healthcare Association, 94% of nursing home providers said they have had a shortage of staff members in the last month. In assisted living communities, 81% said they had similar staffing shortages.
"Amongst indication, Diabetes to grab considerable market share”

Based on the indication, the market is fragmented into Cardiovascular Disorders & Hypertension, Diabetes, Respiratory Diseases, Pregnancy, Mobility Disorders, Hearing Disorders, Wound Care, and others. The diabetes segment grabbed the XX% market share in 2020. However, the cardiovascular disorder segment would witness a considerable CAGR in the forthcoming years
"North America represents one of the largest markets of Home Healthcare market”

For a better understanding of the market adoption of the home healthcare market, the market is analyzed based on its worldwide presence in the countries such as North America (the United States and Canada), Europe (Germany, France, Italy, Spain, United Kingdom, and Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and Rest of APAC), and Rest of World. North America region grabbed XX% market for the home healthcare industry and generated revenue of USD XX Million in 2020. However, the Asia-Pacific region would witness the highest CAGR during the forthcoming years

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• The study includes market sizing and forecasting analysis validated by authenticated key industry experts
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• Detailed examination of drivers, restraints, key trends, and opportunities prevailing in the industry
• The study comprehensively covers the market across different segments
• Deep dive regional level analysis of the industry