Press release
Home Healthcare Market Size, Share Growth, Key Player and Industry Demand to 2030
New York , United States- Report Ocean presents a new report on Home Healthcare Market size, share, growth, industry trends, and forecast 2030, covering various industry elements and growth trends helpful for predicting the market's future.The global home healthcare market size was US$ 181.5 billion in 2020. The global home healthcare market is forecast to reach the valuation of US$ 410 billion by 2030 by growing at a compound annual growth rate (CAGR) of about 8.7% during the forecast period from 2021-2030.
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In order to produce a holistic assessment of the market, a variety of factors is considered, including demographics, business cycles, and microeconomic factors specific to the market under study. Home Healthcare Market report 2021 also contains a comprehensive business analysis of the state of the business, which analyzes innovative ways for business growth and describes critical factors such as prime manufacturers, production value, key regions, and growth rate.
The Centers for Medicare and Medicaid Services report that US healthcare expenditures grew by 4.6% to US$ 3.8 trillion in 2019, or US$ 11,582 per person, and accounted for 17.7% of GDP. Also, the federal government accounted for 29.0% of the total health expenditures, followed by households (28.4%). State and local governments accounted for 16.1% of total health care expenditures, while other private revenues accounted for 7.5%.
This study aims to define market sizes and forecast the values for different segments and countries in the coming eight years. The study aims to include qualitative and quantitative perspectives about the industry within the regions and countries covered in the report. The report also outlines the significant factors, such as driving factors and challenges, that will determine the market's future growth.
COVID-19 Impact Analysis
The demand for home healthcare facilities suddenly grew during the COVID-19 pandemic period. As hospitals were full of patients and people were struggling to get beds, various patients adopted the home healthcare system to take care of the health ailments. Moreover, the terror of infection prohibited people from visiting hospitals. As a result, it fueled the demand for home healthcare.
COVID-19 pandemic fueled the demand for blood glucose monitors, pulse oximeters, blood pressure monitors, and temperature monitors. Thus, the market witnessed a sudden rise in revenue generation.
Due to the cost-efficiency of home healthcare, consumers adoption increased. The COVID-19 epidemic emerged as an opportunity for home healthcare providers. As a result of that, people have become more aware of the advantages it provides. Due to comfort, independence, and social distancing offered by home healthcare systems, the market would observe lucrative opportunities in the future.
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Factor Influencing
The requirement for quality and consistent healthcare facilities would create beneficial opportunities for the market players in the home healthcare industry.
The growing investments in the healthcare sector would create significant possibilities for market growth.
Growing R&D activities and advancements in smart monitoring solutions along with the emergence of tele-ICU would be other factors propelling the market growth.
The increasing prevalence of disease, combined with the rising geriatric population, would accelerate the growth of the global home healthcare market.
The lack of skilled home care practitioners and service facilities may slow down the growth of the global home healthcare market in the coming years.
Geographic Analysis
North America held the largest home healthcare market share because of the existence of efficient medical infrastructure and growing awareness among the population. Apart from that, rapidly growing investment in R&D activities would create significant opportunities for the market players. North America is home to various large-scale and small-scale healthcare service providers. Thus, it would propel the region's contribution.
Europe holds the second-largest share in the global home healthcare market. The growing CAGR of the region is attributed to the growing geriatric population and increasing government initiatives.
The Asia Pacific region is forecast to witness notable growth in the global home healthcare market. The reasons are the rising geriatric population and growing awareness regarding benefits of the home healthcare. Apart from that, increasing healthcare investments in emerging economies, such as China and India, would be another reason for the regional growth.
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Competitors in the Market
Fresenius SE & Co. KGaA
GENERAL ELECTRIC COMPANY
F. Hoffmann-La Roche Ltd
Amedisys
Kindred at Home
LHC Group Inc.
A&D Company Limited
BAYADA Home Health Care
Abbott
OMRON Corporation
Other prominent players
Market Segmentation
By Product
Testing, Screening, & Monitoring Products
Blood Glucose Monitors
Blood Pressure Monitors
Pulse Oximeters
Peak Flow Meters
Heart Rate Monitors
Fetal Monitoring Devices
HIV Test Kits
Home Sleep Testing Devices
Coagulation Monitoring Products
Ovulation and Pregnancy Test Kits
Holter and Event Monitors
Cholesterol Monitoring Devices
Colon Cancer Test Kits
Home Hemoglobin A1c Test Kits
Drug and Alcohol Test Kits
ECG/EKG Devices
EEG Devices
Temperature Monitors
Hearing Aids
Activity Monitors & Wristbands
Therapeutic Products
Oxygen Delivery Systems
Nebulizers
Ventilators
Sleep Apnea Therapeutic Devices
Wound Care Products
IV Equipment
Dialysis Equipment
Insulin Delivery Devices
Inhalers
Other Therapeutic Products (ostomy devices, automated external defibrillators (AEDs))
Mobility Care Products
Wheelchairs
Walkers & Rollators
Mobility Scooters
Canes
Crutches
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 Indication
Cardiovascular Disorders & Hypertension
Diabetes
Respiratory Diseases
Pregnancy
Mobility Disorders
Hearing Disorders
Cancer
Wound Care
Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV)
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By Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the aspects of this report that relate to regional analysis?
The report's geographical regions include North America, Europe, Asia Pacific, Latin America, the Middle East, and Africa.
The report provides a comprehensive analysis of market trends, including information on usage and consumption at the regional level.
Reports on the market include the growth rates of each region, which includes their countries, over the coming years.
How are the key players in the market assessed?
This report provides a comprehensive analysis of leading competitors in the market.
The report includes information about the key vendors in the market.
The report provides a complete overview of each company, including its profile, revenue generation, cost of goods, and products manufactured.
The report presents the facts and figures about market competitors, alongside the viewpoints of leading market players.
A market report includes details on recent market developments, mergers, and acquisitions involving the key players mentioned.
What is the key information extracted from the report?
Extensive information on factors estimated to affect the Market growth and market share during the forecast period is presented in the report.
The report offers the present scenario and future growth prospects Market in various geographical regions.
The competitive landscape analysis on the market as well as the qualitative and quantitative information is delivered.
The SWOT analysis is conducted along with Porter's Five Force analysis.
The in-depth analysis provides an insight into the Market, underlining the growth rate and opportunities offered in the business.
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About Report Ocean:
We are the best market research reports provider in the industry. Report Ocean believes in providing quality reports to clients to meet the top line and bottom line goals which will boost your market share in today's competitive environment. Report Ocean is a 'one-stop solution' for individuals, organizations, and industries that are looking for innovative market research reports.
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