Press release
Home Healthcare Market worth $571.64 Billion by 2028, growing at a CAGR of 10.5% over Forecast Period 2024-2033
Home Healthcare Market Report
The Business Research Company offers in-depth market insights through Home Healthcare Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The home healthcare market size has grown strongly in recent years. It will grow from $349.02 billion in 2023 to $383.52 billion in 2024 at a compound annual growth rate (CAGR) of 9.9%. The growth in the historic period can be attributed to aging population, rising chronic diseases, cost-effective alternatives, patient preference for homecare, government initiatives, skilled healthcare workforce.
The home healthcare market size is expected to see rapid growth in the next few years. It will grow to $571.64 billion in 2028 at a compound annual growth rate (CAGR) of 10.5%. The growth in the forecast period can be attributed to global health events, telehealth expansion, home hospitalization models, value-based care, personalized medicine. Major trends in the forecast period include advancements in technology, remote monitoring expansion, integration of IoT and wearable devices, focus on chronic disease management, expanding home health technology ecosystem, collaboration and partnerships in the healthcare ecosystem.
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Market Segmentation:
The home healthcare market covered in this report is segmented -
1) By Equipment: Therapeutic, Diagnostic, Mobility Care
2) By Services: Rehabilitation Services, Respiratory Therapy Services, Infusion Therapy Services, Other Services
3) By Indication: Cardiovascular Disorders & Hypertension, Diabetes, Respiratory Diseases, Pregnancy, Cancer, Wound Care, Other Indications
Major Driver - Home Healthcare Boom Driven By Aging Demographics
The rapid increase in the aging population is significantly driving the growth of the home healthcare market going forward. The increase in the aging population will boost the demand for healthcare as the aged people are more prone to chronic diseases, which is a favorable factor to the home healthcare market, and increases the overall reach of various home health services. This will reduce the unnecessary visits time involved in traveling, hospital admission, and others. For instance, in 2020, according to the United Nations Organizations, a US-based intergovernmental organization, 727 million persons that were aged above 65 years, which will increase to 1.5 billion people by 2050. Therefore, the increase in the aging population is driving the growth of the home healthcare market.
Competitive Landscape:
Major companies operating in the home healthcare market report are Apple Inc., CVS Health Corporation, McKesson Corporation, MediCar Home Health Services Inc., Humana Inc., F. Hoffmann-La Roche AG, Fresenius SE & Co. KGaA, Medline Industries LP, Becton Dickinson and Company, Koninklijke Philips N.V., Baxter International Inc., B. Braun Melsungen AG, Kindred Healthcare Inc., Encompass Health Corporation, ResMed Inc., Brookdale Senior Living Inc., Maxim Healthcare Services Inc., Amedisys Inc., AccentCare Inc., OMRON Healthcare Inc. (Omron Corporation), LHC Group Inc., Enhabit Home Health & Hospice LLC, Addus HomeCare Corporation, Invacare Corporation, Zorgers, American Well Corporation, Honor Home Care Inc., Clementoni Spa, A&D Company Limited, Grand World Elder Care, Sunrise Senior Living LLC
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Top Trend - Pioneering Senior Care With Homecare Bed
Major companies operating in the home healthcare market are focused on developing advanced products, such as homecare beds, to increase their profitability in the market. A homecare bed in home healthcare refers to a motorized bed designed for use in residential settings to aid healing and ensure the safety and well-being of seniors and home care patients. For instance, in December 2021, Godrej Interio, an India-based furniture company, launched Grace homecare beds. The bed, crafted from durable PLT panels in two natural wood tones, prioritizes seniors' safety and well-being at home. The product has an anodized aluminum finish on the headboard, legboard, and side panels; it supports a safe working load of up to 200 kg. Boasting an electronically adjustable backrest, kneerest, and telescopic side rails for maximum safety, it's an ideal choice for individuals aged 60 and above.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Home Healthcare Market Characteristics
3. Home Healthcare Market Trends And Strategies
4. Home Healthcare Market - Macro Economic Scenario
5. Home Healthcare Market Size And Growth
…..
27. Home Healthcare Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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The Business Research Company (www.thebusinessresearchcompany.com) is a market intelligence firm that pioneers in company, market, and consumer research. Located globally, TBRC's consultants specialize in various industries including manufacturing, healthcare, financial services, chemicals, and technology. The firm has offices located in the UK, the US, and India, along with a network of proficient researchers in 28 countries.
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