Global Home Healthcare Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2029

“Global Home Healthcare Market” is the title of an upcoming report offered by MarketResearch.Biz. The report contains information and data, and inputs from both primary and secondary data sources, that have been verified and validated by experts in the target market. The report presents a thorough study of revenues, historical data, and information, key developments, and strategies by major players that - offers vital insights and perspectives in various scenarios market. Besides critical data and related information, the report includes key trends (both present and future), factors that are driving market growth, factors that are or could be potential restraints to market growth, as well as opportunities that can be leveraged for potential revenue generation in untapped regions and countries. It also covers threats or challenges for existing as well as new entrants in the market. The global home healthcare market has been segmented on the basis of component, as well as regions and countries.

Overview:

Home healthcare or home care, is supportive care provided at home. Care may be provided by licensed healthcare professionals or by professional caregivers who provide daily assistance to ensure the activities of the patients are met.

Dynamics:

According to the World Health Organization, the global population of individuals aged 65 years and over, is projected to be approximately 1.5 billion. This ever-increasing global geriatric population is a primary factor that is expected to influence the global home healthcare market substantially in the foreseeable future.

Going by the information provided by the Bureau of Labor Statistics, due to the increasing demand for home and personal healthcare aides, the growing healthcare workforce is expected to outpace the market growth of the healthcare sector. Another major factor that is contributing to the revenue growth of the global home healthcare market is the increasing demand for value-based healthcare.

In light of the recent COVID-19 outbreak, the need to receive home healthcare as opposed to receiving regular treatment at a medical facility has risen exponentially, and this is expected to play a significant role in the future revenue growth of the global home healthcare market.

Other factors that are collectively positively impacting market growth are the increasing expenditure on healthcare, rising disposable incomes of individuals, as well as several initiatives being carried out by both government and private organizations to raise awareness concerning home healthcare.

Segmentation of the global home healthcare market is as follows:

On the basis of component market segmentation, the home healthcare market can be classified into equipment and services. The services segment accounted for the majority revenue share of the global home healthcare market in 2019. This can be attributed to the rising global geriatric populations as well as the increasing incidences of chronic diseases that requires continuous monitoring and treatment.

The therapeutic devices sub-segment of the equipment market segment accounted for the majority revenue share of the global home healthcare market in 2019 due to rising number of patients suffering from diseases that require advanced devices for effective treatment.

The diagnostics equipment segment is expected to register a substantial rate of revenue growth in the coming years owing to the increasing prevalence of cardiovascular diseases, diabetes, etc.

Regional Segmentation and Analysis:

North America accounted for the majority revenue share of the global home healthcare market due to the presence of advanced healthcare infrastructures, various technological advancements, as well as a shift in trends concerning in-home healthcare.

The markets in Europe are expected to continue to register steady growth over the next 10 years due to increasing healthcare expenditures as well as the growing demand for a skilled nursing workforce in the region.

The markets in the Asia Pacific are also expected to register a significant rate of revenue growth in the near future, due to the high prevalence of chronic diseases, the increased availability of economic skilled labor, as well as the steadily surging economic growth of many countries in this region.

Segmentation of the Global Home Healthcare Market:

Segmentation by Component:

Equipment:

• Therapeutic
• Home respiratory equipment
• Insulin delivery devices
• Home IV pumps
• Home dialysis equipment
• Others
• Diagnostic
• Diabetic care unit
• BP monitors
• Multi-para diagnostic monitors
• Home pregnancy and fertility kits
• Apnea and sleep monitors
• Holter monitors
• Heart rate meters
• Others
• Mobility assist
• Wheel chair
• Home medical furniture
• Walking assist devices

Services:

• Skilled home healthcare
• Physician/primary care
• Nursing care
• Physical, occupational, and/or speech therapy
• Nutritional support
• Hospice & palliative care
• Other skilled home care services
• Unskilled home healthcare

Segmentation by Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa