The Home Healthcare Global Market Report 2024 by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).
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According to The Business Research Company’s Home Healthcare Global Market Report 2024, 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.
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.
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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 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 home healthcare market report table of contents includes:
1. Executive Summary
2.Home Healthcare Market Characteristics
3.Home Healthcare Market Trends And Strategies
4.Home Healthcare market analysis
5.Home Healthcare Market Size And Growth
6.Home Healthcare Segmentation
7.Home Healthcare Regional And Country Analysis
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27.Home Healthcare Competitive Landscape And Company Profiles
28.Home Healthcare Key Mergers And Acquisitions
29.Home Healthcare Future Outlook and Potential Analysis
TOP MAJOR PLAYERS:
- Apple Inc.
- CVS Health Corporation
- McKesson Corporation
- MediCar Home Health Services Inc.
- Humana Inc.
- F. Hoffmann-La Roche AG
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