The Pediatric 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 Pediatric Home Healthcare Global Market Report 2024, The pediatric home healthcare market size has grown strongly in recent years. It will grow from $43.22 billion in 2023 to $47.45 billion in 2024 at a compound annual growth rate (CAGR) of 9.8%. The growth in the historic period can be attributed to demand for efficient talent acquisition, globalization of workforce, high volume of job applications, candidate experience enhancement, compliance and regulations, diversity and inclusion initiatives..
The pediatric home healthcare market size is expected to see rapid growth in the next few years. It will grow to $69.87 billion in 2028 at a compound annual growth rate (CAGR) of 10.2%. The growth in the forecast period can be attributed to focus on employee retention, remote onboarding solutions, video interviewing solutions, adoption of mobile recruiting, expansion of gig economy, cybersecurity concerns.. Major trends in the forecast period include ai and automation integration, predictive analytics for talent acquisition, collaborative hiring platforms, blockchain for recruitment, talent relationship management (trm)..
The increasing prevalence of chronic conditions is expected to propel the growth of the pediatric home healthcare market. Chronic diseases are long-term health issues that need constant medical care and control. The most common types of chronic diseases are heart disease, cancer, stroke, diabetes, and arthritis. Pediatric home healthcare helps in chronic conditions, if a child is recovering from medical treatment or has a chronic condition, provide treatments in the comfort of home. These services allow children to receive care from licensed professionals in their environment, often keeping them out of prolonged hospital stays. For instance, according to the NCBI Report 2022 published by the National Library of Medicine, a US-based provider of library services in the areas of a clinical trial, medical, health, and biomedical library, the number with at least one chronic disease is estimated to increase by 99.5% from 71.522 million in 2020 to 142.66 million by 2050. Therefore, the increasing prevalence of chronic conditions is driving the growth of the pediatric home healthcare market.
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The pediatric home healthcare market covered in this report is segmented –
1) By Service: Skilled Nursing Services, Personal Care Assistance, Rehabilitation Therapy Services
2) By Device: Diagnostic And Monitoring Devices, Therapeutic Devices, Home Mobility Assist Devices
3) By Application: Premature Babies, Cardiovascular Disease, Complex Intravenous Therapy, Pediatric Oncology, Chronic Disease, Infectious Disease, Other Applications
The adoption of advanced technologies is a key trend gaining popularity in the pediatric home healthcare market. Companies operating in the pediatric home healthcare market are adopting new technologies to sustain their position in the market. For instance, in April 2023, CognitiveBotics Technologies, an India-based provider of eLearning solutions for children with Autism Spectrum Disorder (ASD), launched an artificial intelligence-based eLearning platform for children with ASD. This revolutionary life cycle product supports children with autism from the age of two to the age of 18, providing a comprehensive special education platform that prepares them for work and a satisfying, independent life. To supplement autism therapy, the company’s cutting-edge digital learning modules leverage the power of Artificial Intelligence (AI), Machine Learning (ML), and Natural Language Processing (NLP). This will benefit children’s social, communicative, motor, and emotional skills.
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