Press release
Global Home Healthcare Market Projected to Grow At a high CAGR 8.80 % over the forecast period 2019-2025
Global home healthcare market is valued at USD 239 billion in 2017 and is anticipated to grow with a healthy growth rate of more than 8.80 % over the forecast period 2018-2025. Major trend for the global home healthcare market is increasing prevalence of chronic diseases. Since, homecare for health offers personal care of chronic infectious and is very common and comfortable for the aging population. As a result, the adoption of home care would increase thereby, aiding the growth of the market across the forecast period.
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Increasing geriatric population is considered as a key driver for the global home healthcare market across the globe. Since elderly people prefer home healthcare as they are unable to travel to hospitals and clinics hence all the needed medication facilities are preferred at their homes. According to the Population Reference Bureau, in year 2016 the number of American aged 65 or more is approx. 46 million which is projected to become more than double and will reach approx. 98 million by the year 2060, share in the total population of the people aged 65 and older age group will rise approx. from 15% to 24 %. Similarly, the Office for National Statistics (United Kingdom) estimates, in 2016 the population of United Kingdom is 65.6 million and is projected to reach 74 million by 2039. In 2016, 18% of UK population were aged 65 and over and 2.4 % of population were aged 85 and over. As geriatric population is more prone to the aforementioned complex diseases hence, they require continuous critical care diagnosis and treatment, and thus are expected to contribute towards the market growth. However, changing reimbursement policies is expected to hinder the growth of the market during the forecast period.
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Based on segmentation, the home healthcare market is segmented into product, services, software and type of telehealth solution
The detailed segments and sub-segment of the market are explained below:
By Product:
• Testing, Screening, & Monitoring Products
• Therapeutic Products
• Home Healthcare Mobility Care Products
By Service:
• Skilled Nursing Services
• Rehabilitation Therapy Services
• Hospice and Palliative Care Services
• Unskilled Care Services
• Respiratory Therapy Services
• Infusion Therapy Services
• Pregnancy Care services
By Software:
• Agency Software
• Clinical Management systems
• Hospice solutions
By Type of telehealth solution:
• Home telehealth software
• Home Telehealth services
• Home telehealth monitoring devices
By Regions:
• North America
• Europe
• Asia Pacific
• LAMEA
• ROW
Major Companies Cited in the Report
• GE Healthcare
• Omron
• Mckesson
• Roche
• A&D Company
• Bayada Home Health Care
• Philips
• Abbott Laboratories
• Amedisys
• Kindred Healthcare
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