Home Healthcare Market Global Leading Players, Industry Updates, Future Growth

The global Home Healthcare Market is expected to reach US$ 621,565.89 million by 2028 from US$ 315,139.27 million in 2020; it is estimated to grow at a CAGR of 8.9% from 2020 to 2028.

The factors such as growing demand for home healthcare due to rising aging population and increasing prevalence of chronic diseases and surging homecare settings drive the market growth. However, the shortage of home care workers hinders the market growth.

Home healthcare comprises a wide range of healthcare services for illness in homecare settings. The goal of home healthcare is to treat injury and improve health outcomes of a patient. These services are more convenient and less expensive and are efficient treatment for chronic diseases and serious illness, elderly population, and nutrition therapy of a patient.

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Analysis of the Top Market Players:

1. Fresenius SE & Co. KGaA
2. General Electric Company
3. LINDE
4. F. HOFFMANN-LA ROCHE LTD.
5. A&D Company, Limited
6. LHC Group, Inc.
7. BAYADA Home Health Care
8. Invacare Corporation
9. Abbott Care
10. Amedisys
11. Kindred Healthcare, LLC

In this report, the market has been segmented on the basis of:

Product Type

• Therapeutic
• Diagnostic
• Mobility Assist

Indication
• Cancer
• Respiratory Diseases
• Mobility Disorders
• Cardiovascular Disorders
• Pregnancy
• Wound Care
• Diabetes
• Other Indications

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

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The growth of the home healthcare market is attributed to the factors such as increasing prevalence of chronic diseases, rising geriatric population, and growing development in the medical device industry. As per the United Nations (UN) estimation, by 2060, the geriatric population will reach 1.8 billion , which will account for 17.8% of the world's total population. Chronic diseases, such as cardiovascular disorders, diabetes, autoimmune disorders, and various types of cancer and neurological disorders are leading to death and disability worldwide.

These clinical conditions affect patients' overall quality of life. As per the World Health Organization (WHO), over 50% of the global population is estimated to be suffering from at least one chronic disease. As per the Centers for Disease Control and Prevention (CDC), in the US, 6 in 10 people suffered from at least one chronic disease in 2019. Cardiovascular diseases (CVDs) are a significant cause of mortality globally owing to the hectic lifestyle. Diabetes is one of the life-threatening diseases and can lead to various complications in different parts of the body and can increase the overall risk of premature death. As per the International Diabetes Federation (IDF), in 2019, ~463 million adults were suffering from diabetes, and the number is expected to reach 700 million by 2045.

Countries such as the US, Japan, South Korea, Canada, the UK, Spain, and France are significantly experiencing growth in the geriatric population. The countries mentioned above, along with the developing countries such as China, India, Saudi Arabia, the UAE, and Brazil, offer significant growth opportunities for the home healthcare players to provide innovative devices. In addition, the increasing adoption of telemedicine and mHealth technologies is driving the growth of the home healthcare market.

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