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Home Healthcare Market: Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Home Healthcare Market
Global Home Healthcare Market: By Product Type (Diagnostic, Therapeutic, and Mobility Assist), By Service (Pregnancy Care, Skilled Nursing, Palliative Care, Rehabilitation, Infusion Therapy, and Respiratory Therapy), By Software (Hospice Solutions, Clinical Management Systems, and Agency Software), and Geography - Market Estimation, Dynamics, Regional Share, Trends, Competitor Analysis 2013-2017 and Forecast 2018-2024
Global home healthcare market was valued at US $ XX Mn in 2017 and expected to grow at XX% Compound Annual Growth Rate (CAGR) over 2018 to 2024
Market Outline: Home Healthcare Market
Home healthcare is a health care service that can be given at home for a patient. Home healthcare is generally inexpensive and more convenient and is even as effective as you can get in the hospital. The major goal of home healthcare is to treat illness or injury. Home healthcare helps in regaining the independence. It is cost effective alternative to an expensive hospital stay.
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Market Dynamics: Home Healthcare Market
The rising demand for home health care delivery systems is anticipating the growth of the market. The increase in geriatric population is the major factor influencing the growth of the home healthcare market. According to the World Health Organization (WHO), the global population of oldest people is expected to more than triple between 2015 and 2050, growing from 126.5 million to 446.6 million. The growing demand for the testing and diagnosis devices such as heart monitoring systems, blood pressure monitors, pregnancy kits, peak flow meters, and pulse oximeters are enriching the growth of the home healthcare market. Also, the soaring demand for the mobility care products such as walkers and crutches is adding fuel for the growth of the home healthcare market. However, the factors such as patient safety concerns and limited coverage of the insurance is hampering the growth of the market.
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Market Scope: Home Healthcare Market
The home healthcare market is segmented based on the product type, service, and software.
Based on the product type, the market is segmented into the following:
• Diagnostic
o Drug and Alcohol Test Kits
o Event and Holter Monitors
o Cholesterol Monitoring Devices
o Colon Cancer Test Kits
o Electrocardiography Devices
o Temperature Monitors
o Hearing Aids
o Blood Pressure Monitors
o Blood Glucose Monitors
o Heart Rate Monitors
o Fetal Monitoring Devices
o Ovulation and Pregnancy Test Kits
o Home Hemoglobin A1c Test Kits
o HIV Test Kits
• Therapeutic
o Wound Care Products
o Dialysis Equipment
o Insulin Delivery Devices
o External Stimulation Devices
o Oxygen Delivery Systems
o Automated External Defibrillators
o Nebulizers
o Sleep Apnea Therapeutic Devices
• Mobility Assist
o Crutches
o Mobility Scooters
o Walkers
o Wheelchairs
o Canes
Based on the service, the market is segmented into the following:
• Pregnancy Care
• Skilled Nursing
• Palliative Care
• Rehabilitation
• Infusion Therapy
• Respiratory Therapy
Based on the software, the market is segmented into the following:
• Hospice Solutions
• Clinical Management Systems
• Agency Software
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Regional Analysis: Home Healthcare Market
Geographically, the global home healthcare market is segmented into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. North America home healthcare market is growing due to increase in adoption of home healthcare. As per the Centers for Disease Control and Prevention in 2014, the number of patients who received care globally was approximately 4.9 million in 2013, with 12,400 home healthcare agencies in the U.S. The growing number of agencies, favorable reimbursement policies are helping North America to keep top spot in the global home healthcare market. The technological advancements are further boosting the growth of the market in this region. The Asia Pacific is expected to grow at a faster pace owing to increasing healthcare expenditure and raising awareness among the people regarding the home health care. Also, the dramatic increase in the geriatric population is adding fuel for the growth of the home healthcare market. As per the World Health Organization (WHO), oldest old population in some Asian countries is predicted to quadruple by 2050.
Competition Assessment: Home Healthcare Market
Some of the players in the global home healthcare market include:
• McKesson (US)
• BAYADA Home Health Care (US)
• Kinnser Software, Inc. (US)
• Roche (Switzerland)
• Philips Healthcare (Netherlands)
• Kindred Healthcare (US)
• Linde Group (Germany)
• Almost Family Inc. (US)
• Abbott Laboratories (US)
• LHC Group (US)
• A&D (Japan)
• Amedisys (US)
• Fresenius (Germany)
Notable Market Developments: Home Healthcare Market
In January 2018, Omron Healthcare has launched two new Blood Pressure Monitors (BPM) HEM-7270 and HEM-7124 with inbuilt unique Intellisence Technology developed by Omron Healthcare.
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