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With 9.02% CAGR, Home Healthcare Market Size Worth US$ 599.9 Billion in 2028

12-13-2022 10:15 AM CET | Business, Economy, Finances, Banking & Insurance

Press release from: IMARC Group

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Home Healthcare Market

Home Healthcare Market

IMARC Group's latest report, titled "Home Healthcare Market by Product (Therapeutic Products, Testing, Screening, and Monitoring Products, Mobility Care Products), Service (Skilled Nursing, Rehabilitation Therapy, Hospice & Palliative Care, Unskilled Care, Respiratory Therapy, Infusion Therapy, Pregnancy Care), Indication (Cancer, Respiratory Diseases, Movement Disorders, Cardiovascular Diseases & Hypertension, Pregnancy, Wound Care, Diabetes, Hearing Disorders, and Others), and Region 2023-2028", the global home healthcare market size reached US$ 360.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 599.9 Billion by 2028, exhibiting a growth rate (CAGR) of 9.02% during 2023-2028.

Home healthcare refers to the medical service that is provided in the comfort of a patient's home to treat a sickness or accident. It involves mobility care, therapeutic diagnostic, medical kits, and common dose administration equipment that are used for rehabilitation, infusion, and respiratory therapies. It is a convenient, less expensive and comfortable solution that provides efficient treatment outcomes and intensive care, and enables access to nurses, friends, and family during psychological traumas. It is an excellent alternative to conventional care services, as it can be customized as per the requirement of an individual. As a result, it is widely utilized by hospitals, clinics, and sole traders to deliver quality and treat cancer, wound care, diabetes, and hypertension indications.

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Home Healthcare Market Growth:

The growing prevalence of chronic disorders among the masses is driving the global market. Along with this, the rising awareness regarding the convenience and cost-effectiveness of home healthcare products and services is also contributing to the market. In response to the escalating demand, numerous major companies are focussing on developing more effective service models to incentivize and provide reimbursement on home healthcare services, thereby providing a boost to the demand. Apart from this, continuous technological developments in-home care services and the unavailability of hospital beds are acting as other growth-inducing factors. Moreover, the increasing government support to encourage home care settings is also impelling the demand on the global level. Besides, the penetration of artificial intelligence (AI), the Internet of Things (IoT), point-of-care devices, and wearable gadgets in the healthcare sector is also anticipating the market.

Furthermore, the advent of novel home healthcare monitoring technologies, including pulse oximeters and temperature and blood pressure assessment solutions, are creating a positive market outlook. Besides this, the easy availability of skilled nurses for rehabilitation services, wound dressings, tube feedings, and maintaining stable patient health is strengthening the market for home healthcare services across the globe. Moreover, continual improvements in blood pressure monitoring and glucose monitoring devices, are impacting the market favorably. Other factors, such as inflating disposable income levels of the masses, the development of healthcare settings across rural and geographically extended locations and extensive research and development (R&D) activities by leading players, are also influencing the market.

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Competitive Landscape with Key Players:

The competitive landscape of the industry has also been examined along with the profiles of the key players being

• A&D Company Limited
• Addus HomeCare Corporation
• Amedisys Inc
• B. Braun Melsungen AG
• Baxter International Inc
• Becton Dickinson and Company
• Fresenius Medical Care AG & Co.
• KGaA
• Invacare Corporation
• Koninklijke Philips N.V
• McKesson Corporation
• Medline Industries LP
• OMRON Healthcare Inc. (Omron Corporation)
• ResMed Inc

Key Market Segmentation:

Breakup by Product:

• Therapeutic Products
• Testing, Screening, and Monitoring Products
• Mobility Care Products

Breakup by Service:

• Skilled Nursing
• Rehabilitation Therapy
• Hospice & Palliative Care
• Unskilled Care
• Respiratory Therapy
• Infusion Therapy
• Pregnancy Care

Breakup by Indication:

• Cancer
• Respiratory Diseases
• Movement Disorders
• Cardiovascular Diseases & Hypertension
• Pregnancy
• Wound Care
• Diabetes
• Hearing Disorders
• Others

Breakup by Region:

• North America (United States, Canada)
• Europe (Germany, France, United Kingdom, Italy, Spain, Others)
• Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
• Latin America (Brazil, Mexico, Others)
• Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)

Key Highlights of the Report:

• Market Performance (2017-2022)
• Market Outlook (2023-2028)
• Porter's Five Forces Analysis
• Market Drivers and Success Factors
• SWOT Analysis
• Value Chain
• Comprehensive Mapping of the Competitive Landscape

Note: If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization.

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About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC's information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company's expertise.

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