Home Healthcare Market Offers Cost Effective Alternative To Expensive Hospital Stays, Showing Revenue Growth To 2026 Studied With Key Companies Omron Healthcare, McKesson, Philips, Johnson & Johnson, and Roche

Coherent Market Insights has announced the addition of the “Home Healthcare Market By Product (Diagnostic, Therapeutic and Mobility Assist), By Service (Rehabilitation, Infusion Therapy, Respiratory Therapy, Pregnancy Care, Skilled Nursing, and Palliative Care), By Software (Agency Software, Clinical Management Systems, and Hospice Solutions) - Global Industry Insights, Trends, Outlook, and Opportunity Analysis, 2018-2026”, The report classifies the Home Healthcare Market in a precise manner to offer detailed insights about the aspects responsible for augmenting as well as restraining market growth.

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Home Healthcare offers a wide range of healthcare services given from home for the treatment of disease or injury. The diverse industry includes infusion services, home skilled nursing and physical therapy and is often referred as home medical care. The home care services are usually less expensive, highly convenient to the patients, equally effective to the hospital care units or skilled nursing facility. The ultimate goal of home health care is the complete treatment of the disease or injury which helps the patient regain independence and become self-sufficient faster. Home healthcare also involves helping senior citizens with daily activities like bathing, dressing, eating including monitoring the medication routine. The home health care professionals are licensed practical nurses, therapists, and home health aides, mostly working for home health agencies or public health departments.

Market Dyanamics

According to the National Centers for Caregiving estimates in 2015, the number of individuals using paid long-term care services in settings including home, residential care such as assisted living, or skilled nursing facilities is likely double from the 13 million in 2005, expected to 27 million people in 2050 due to the influenced growth in the population of older people in need of care. The shift of healthcare delivery from traditional clinical settings, increasing adoption of telecommunication services, affordable healthcare delivery systems, and the technological advancements are the major factors attributed to the growth of global home healthcare market. Also, the replacement of expensive hospital stays with the cost effective home healthcare is anticipated to serve as high impact rendering driver. Additionally, the factors driving the growth of global healthcare market include the rising prevalence of chronic diseases, rising aging population, the government initiatives to promote home healthcare, and increasing healthcare costs.

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Favorable Reimbursement Policies Is Expected To Dominate The Global Home Healthcare Market In North America

Regional segmentation of the global home healthcare market by Coherent Market Insights comprises of North America, Latin America, Europe, Asia Pacific, Middle East and Africa. According to the Centers for Disease Control and Prevention estimates in 2014, number of patients who received and ended care globally were approximately 4.9 million in 2013, with 12,400 home healthcare agencies in the U.S. Thus, the rising number of agencies, converging trends of aging population, favorable reimbursement policies and technological advancements is expected to dominate North America in the global market. Asia Pacific is poised to be the fastest-growing region during the forecast period owing to the rising geriatric population, increasing disposable income levels, expansion of home healthcare companies, increasing need for affordable healthcare delivery systems, rising awareness about home healthcare, and the rising adoption of innovative techniques.

Competitive Scenario

Key players operating the global home healthcare market include Omron Healthcare, McKesson, Philips, Johnson & Johnson, and Roche. The strategy adopted by the key players include service portfolio expansion, mergers and acquisition, collaborations, and regional expansion.

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Infusion Therapy Segment Contributes The Largest Share Owing To Its Effective Treatment For Serious Conditions

The global home healthcare market is segmented on the basis of products, service, software and geography.

On The Basis Of Products, the global home healthcare market is segmented into: Diagnostic, Blood Pressure Monitors, Blood Glucose Monitors, Heart Rate Monitors, Fetal Monitoring Devices, Ovulation and Pregnancy Test Kits, Home Hemoglobin A1c Test Kits, HIV Test Kits, Sleep Apnea Monitors, Coagulation Monitors, Pulse Oximeters, Drug and Alcohol Test Kits, Event and Holter Monitors, Cholesterol Monitoring Devices, Colon Cancer Test Kits, Electrocardiography Devices, Temperature Monitors, Hearing Aids, Therapeutic, Oxygen Delivery Systems, Automated External Defibrillators, Nebulizers, Sleep Apnea Therapeutic Devices, Wound Care Products, Dialysis Equipment, Insulin Delivery Devices, External Stimulation Devices, Mobility Assist, Wheelchairs, Canes, Crutches, Mobility Scooters, Walkers.

On The Basis Of Service, the global home healthcare market is segmented into:
Rehabilitation
Infusion Therapy
Respiratory Therapy
Pregnancy Care
Skilled Nursing
Palliative Care

On The Basis Of Software, the global home healthcare market is segmented into:
Agency Software
Clinical Management Systems
Hospice Solutions

About Coherent Market Insights:

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