Home Healthcare Market s expected to reach USD 482.97 Billion by year 2026| American Well, CarePredict, Emerald, etc.

According to the current analysis of Reports and Data, the global home healthcare market was valued at USD 260.95 Billion in 2018 and is expected to reach USD 482.97 Billion by year 2026, at a CAGR of 7.9%. The market for home healthcare is growing out of critical customer needs. Not common a few years back and still unheard in many small towns of the world, this is an industry that has grown from its nascent to the advanced stages very rapidly. Home healthcare as a market can be divided into several segments and sub-segments today. It includes services ranging from unskilled care to skilled nursing. The product range is also very wide, and so is the scope and need for specializations.

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Companies considered and profiled in this market study
American Well (USA), CarePredict (USA), Emerald (USA), A&D (Japan), Philips Healthcare (Netherlands), Roche (Switzerland), Omron (Japan)

Increasing pediatric healthcare need and a growing geriatric population worldwide are the very key industry drivers. Worldwide population older than 60 years is estimated be around 2 Billion which might lead to increasing chronic diseases being diagnosed which evolve the demand for diagnostics such as imaging diagnostics as well as mobility care products will show rise in demand. Home healthcare is more cost effective than establishing hospitals. It has a ready and growing demand today. North American region is the industry leader today, due to advanced technologies in healthcare such as AI in healthcare IT, diagnostic apps such as mHealth application, high level of healthcare spending and policies for backing up the costly therapies or treatment; while Asia Pacific is expected to witness the highest CAGR in the coming years.

Further key findings from the report suggest-
o China and India are expected to witness a huge surge in this market, as the market value is expected to double itself in India shortly. As more number of elderly population is expected to be residing in China and Asia Pacific region by 2050 along with that increased healthcare spending and the government of India planning to increase public health spending 2.5% of GDP by 2025.
o By product type, Diagnostics occupies the largest market share and is also expected to grow at the highest CAGR of 8.4% during the forecast period.
o North America has the leading share in the home healthcare industry chiefly because of the converging trends of their ageing population, rise in the number and cases of chronic diseases and technological advancements
o Increasing number of trauma and drug abuse cases are multiplying the need of rehabilitation services, both in the general and home healthcare market. These services accounted for almost 50% of all home healthcare services in 2018.
o
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For the purpose of this study, Reports and Data have segmented the Home Healthcare market by Type, by Services, by Product, by Software and by Region:
Type
o Home Telehealth Monitoring
o Home Telehealth Services
o Telehealth Software Solutions

Services
o Rehabilitation
o Infusion Therapy
o Unskilled Care
o Respiratory Therapy
o Pregnancy Care
o Skilled Nursing
o Telemetry
o Hospice and Palliative Care

Product
o Diagnostic
o Therapeutic
o Mobility Care

Software
o Agency Software
o Clinical Management Systems
o Hospice Solutions

Region
o North America
o Europe
o Asia Pacific
o Middle East and Africa
o Latin America

To identify the key trends in the industry, click on the link below: https://www.reportsanddata.com/report-detail/home-healthcare-market

Key selling points of this research study
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3. The market intelligence report derives an eight-year forecast, including historical, contemporary, and potential market prospects, projecting the estimated progress of the market.
4. It aids informed decision-making by offering an exhaustive database of the pivotal market segments and sub-segments.

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This release was published on openPR.