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Research Report and Overview on Home Care Services Market , 2014-2020

02-06-2017 10:03 AM CET | Advertising, Media Consulting, Marketing Research

Press release from: Future Market Insights

Research Report and Overview on Home Care Services Market ,

Over the years, the home care services market has grown exponentially on account of demand from the baby boomers generation. Most people are comfortable in their own homes and leaving their comfort zone to receive treatment or care in a facility seems like a daunting task for many. Many elderly people who have lived their entire lives at their homes find it difficult to adjust to a new institution/facility and this is where home care services have emerged as a credible alternative.

Demand from Baby Boomers Will Fuel the Demand for Home Care Services Market

The global home care services market is projected to grow at a healthy rate through 2020. Rise in the baby boomers population around the world is projected to be the key driver for the growth of the global home care services market. Also, awareness about the benefits of receiving home care is further expected to propel the growth of this market.

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Home Care Services: Market Segmentation

Home care services can be broadly segmented into health and non-health home care. Home health care services include diagnostic and monitoring services, medical supplies, and therapeutic services. It is projected that home healthcare services market will witness a single-digit CAGR through 2020. The non-health home care services segment includes personal hygiene care and companionship services. Personal hygiene segment further includes cooking and housekeeping, grocery shopping, and bathing and grooming assistance.

Key Drivers and Regions for the Global Home Care Services Market

Asia Pacific, the U.S. And Western Europe are projected to be the key regions for the growth of the global home care services market. The burgeoning elder population in Asia Pacific, especially in densely populated countries of India and China is expected to fuel the demand for the home care services market. The easy availability of home care service providers and increase in chronic diseases are projected to be the reasons that will fuel the global home care services market. The cost effectiveness of home care services is anticipated to augur well for the growth of the home care services market in Western Europe.

Key Challenges for the Global Home Care Services Market

Lack of trained workers remains a key challenge for the growth of the global home care services market. The leading companies in the global home care services market have stringent hiring procedures and they focus on imparting the right training to their staff. However, new entrants in the market are lax about the history of the workers and they do not have the resources or the budget to train them. This remains a key challenge for the growth of the global home care services market.

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Key Players in the Global Home Care Services Market

The prominent home healthcare service provider companies are Apria Healthcare Group (U.S.), Alere, Inc. (U.S.), Fresenius Se & Co KGAa (Germany), GE Healthcare (U.K), and B. Braun Melsungen AG (Germany). These companies have registered their presence among the consumers and it is projected that during the forecast period, these companies will further consolidate their position.

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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services, which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights, an aerial view of the competitive framework, and future market trends.

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