Home Healthcare Market Size, Share & Analysis | Industry Report 2024

The global Home Healthcare market was valued at $230.7 bn in 2016 and is anticipated to reach over $483.1 bn by 2024.

The home healthcare market is anticipated to witness lucrative growth owing to the rising healthcare expenditure, growing prevalence of chronic diseases, shortage of hospital infrastructure, rise in aging population and other factors. Home healthcare enables older people and adults who need long term care to recover from diseases, injuries and for rehabilitation. Home healthcare includes a wide array of product and service portfolio. The out-of-pocket healthcare expenditure and reimbursement play a vital role in market expansion.

The increase in geriatric population is one of the prominent factors driving the demand for home healthcare products and services. The countries such as France, UK, Germany, U.S., and Japan are witnessing rapid growth in the number of people aged 65 and above. In the U.S., as per the 2015, Administration of Aging (AoA) estimates, the number of people aged above 65 is anticipated to be over 46.2 million. In UK, as per the Age UK Group estimates, there are over 23.6 million people above 50 years and nearly 11.6 million people are aged above 65. Furthermore, it is estimated that by 2030, the population above 65 is expected to surpass 20 million. Rise in aging population, coupled with the prevalence of chronic diseases in anticipated to boost the demand for long term home health services over the forecast period.

In 2016, North America held the maximum revenue share of over 40% owing to the prevalence of chronic diseases, well-developed reimbursement network, rising healthcare expenditure, growing geriatric population and increasing support for home healthcare services. The high burden on the hospital network is a key constraint for providing long term treatment and therefore, patients are recommended to opt for home care treatment for post-operative care and long-term chronic care.

Asia Pacific is anticipated to register the maximum CAGR of over 9% over the forecast period. The high growth is expected due to the growing disease burden, rising awareness about home healthcare products and services, rise in aging population. The high unmet needs in the region coupled with the hospital capacity constraints are significantly boosting the usage rate of home health care products.

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Key findings from the study: -
• The rise in global healthcare expenditure is anticipated to positively reinforce the home healthcare market prospects.
• The high burden on the hospital network is a key constraint for providing long term treatment and therefore, patients are recommended to opt for home care treatment for post-operative care and long-term chronic care.
• Some of the major players providing home health services include, Chemed (CHE), Almost Family (AFAM), LHC Group, Lincare Holdings (LNCR), Amedisys (AMED), Gentiva Health Services (GTIV). Some of the leading manufacturers providing the equipment include, GE Healthcare, Medtronic, Cardinal Health Inc., Johnson & Johnson, Intersurgical, Fresenius Kabi, Hill-Rom Holdings and others.

Ameri Research has segmented the Home Healthcare Market by product type, end-use and region:

Market Segmentation:

Home Healthcare Market by Product (Revenue, Million, 2014 – 2024)
• Therapeutic Equipment
o Home Respiratory Equipment
o Insulin Delivery Device
o Home IV Pumps
o Home Dialysis Equipment
o Other Therapeutic Equipment

• Diagnostic Equip Home Respiratory Equipment
o Diabetic Care Unit
o BP Monitors
o Multi Parameter Diagnostic Monitors
o Home Pregnancy and Fertility Kits
o Other Self-Monitoring Equipment
o Apnea and Sleep Monitors
o Holter Monitors
o Heart Rate Maters
o Other

• Personal Mobility Assist Equipment
o Crutches
o Mobility Scooters
o Walkers & Rollators
o Wheelchairs
• Services
o Rehabilitation Services
o Unskilled Home Care
o Respiratory Therapy Services
o Infusion Therapy Services
o Telemetry

Home Healthcare Market Regional Outlook (Revenue, USD Million, 20124- 2024)
• North America
o U.S.
o Canada

• Europe
o UK
o Germany
o France
o Italy
o Spain

• Asia Pacific
o Japan
o China
o India
o Australia

• Latin America
o Brazil
o Mexico
o Columbia

• Middle East and Africa
o South Africa
o Saudi Arabia

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