Home Healthcare Market Research Report: Forecast (2021-2026)
Market Overview
Home healthcare offers professional support services to an individual for them to live safely in their home. Professional caregivers include nurses and therapists that can provide short-term or long-term care at home according to the parson’s requirement.
According to MarkNtel Advisors’ research report, “Global Home Healthcare Market Analysis, 2021,” the market is likely to grow at a CAGR of around 9.5% during 2021-26 due to the rising aging population, surging prevalence of chronic diseases, such as diabetes, ostomy, ulcers, etc. Further, a gradual shift in delivering traditional healthcare services to homecare is another factor driving the market. Additionally, integration of medical devices and software, increase in the use of IoT in the medical field, and mounting adoption of remote monitoring solution presents lucrative opportunities to fuel the overall growth of the Home Healthcare Market across the globe.
| Report Coverage | Details |
|---|---|
| Study Period | Historical Data: 2016-19 |
| Base Year: 2020 | |
| Forecast Period: 2021-26 | |
| CAGR (2021-2026) | 9.5% |
| Regions Covered | North America: USA, Canada, Mexico |
| Europe: Germany, UK, France, Italy, Spain, Russia, The Netherlands | |
| Asia-Pacific: China, India, Japan, South Korea, Australia and Others | |
| South America: Brazil, and Argentina | |
| Middle East & Africa: UAE, Saudi Arabia, South Africa | |
| Key Companies Profiled | Fresenius SE & Co. KGaA, GE Healthcare, Linde plc, F. Hoffmann-La Roche Ltd, Amedisys, Kindred at Home, LHC Group, Inc., Asensus Surgical, Inc., Caremax Rehabilitation Equipment Co., Ltd, Vitalograph, Advita Pflegedienst GmbH, RENAFAN GmbH |
| Unit Denominations | USD Million/Billion |
Impact of COVID-19
The outbreak of the COVID-19 pandemic has positively impacted the growth of the Global Home Healthcare Market due to the surging demand for home healthcare monitoring devices like pulse oximeters, temperature monitors, blood pressure monitors, and blood glucose monitors. Further, increasing demand for home healthcare providers for the treatment of vulnerable and elderly populations fuels the growth of the Global Home Healthcare Market.
Market Segmentation
Services Accounted for the Largest Market Share
Based on the Product, the market bifurcates into Testing, Screening, & Monitoring Products, Health Maintenance and Promotion Devices, Diagnostic Devices, IT & Software, and Services. Among these segments, Services captured a significant share in the Global Home Healthcare Market in the previous few years due to the rising geriatric population worldwide needing healthcare assistance at home. Moreover, for better patient assistance and outcome, the demand for home healthcare services is increasing tremendously. Hence, these factors entwined with the mounting prevalence of chronic diseases are fueling the segment growth, cites MarkNtel Advisors in their research report, “Global Home Healthcare Market Analysis, 2021.”
Chronic Segment Dominated the Market
Based on the Purpose, the market segments into Chronic, Infectious, and Nutrition & General Consultancy. In the past few years, the Chronic segment generated the highest revenue in the Global Home Healthcare Market. The segment growth owes to the rising prevalence of chronic diseases, increasing aging population, and massive healthcare costs. The adoption of home healthcare services is beneficial for preventing complications and recovers if complications occur. It also helps in providing home care aides and assistance whenever needed.
Regional Landscape
North America Attained the Highest Market Share
Geographically, North America held the largest share in the Global Home Healthcare Market in the previous few years due to the increasing prevalence of chronic diseases entwined with the surging overall elderly population. In addition to this, high disposable income, advanced healthcare infrastructure, and high healthcare expenditure are other critical aspects factors fueling the market growth in North America.
Market Driver
Rising Geriatric Population Boost the Market Growth
The surging geriatric population accelerates the demand for home healthcare solutions and services; the elderly population is more prone to chronic diseases and cannot visit clinics or hospitals frequently. Home healthcare is beneficial for enhancing the overall access to healthcare services while reducing hospital readmissions.
Competitive Landscape
According to MarkNtel Advisors, the major leading players in the Global Home Healthcare market are Fresenius SE & Co. KGaA, GE Healthcare, Linde plc, F. Hoffmann-La Roche Ltd, Amedisys, Kindred at Home, LHC Group, Inc., Asensus Surgical, Inc., Caremax Rehabilitation Equipment Co., Ltd, Vitalograph, advita Pflegedienst GmbH, and RENAFAN GmbH.
Key Questions Answered in the Market Research Report:
Market Outlook, Segmentation and Statistics
Frequently Asked Questions
A. The Global Home Healthcare Market is forecast to grow at a CAGR of 9.5% during 2021-26.
A. Fresenius SE & Co. KGaA, GE Healthcare, Linde plc, F. Hoffmann-La Roche Ltd, Amedisys, Kindred at Home, LHC Group, Inc., Asensus Surgical, Inc., Caremax Rehabilitation Equipment Co., Ltd, Vitalograph, advita Pflegedienst GmbH, RENAFAN GmbH are a few leading players in the Global Home Healthcare Market.
A. The Services segment is likely to attain the highest CAGR and maintain its significant market share during the forecast period.
A. North America continues to grow at the highest CAGR during 2021-26, thereby presenting immense opportunities to market players of the Global Home Healthcare Market.
A. The surging geriatric population and rising prevalence of chronic diseases accelerate the market growth. Home healthcare is beneficial for enhancing the overall access to healthcare services while reducing hospital readmissions.
A. The outbreak of the COVID-19 pandemic has positively impacted the growth of the Global Home Healthcare Market due to the surging demand for home healthcare monitoring devices like pulse oximeters, temperature monitors, blood pressure monitors, and blood glucose monitors.
