Home Healthcare Market Size Research Report — Forecast to 2023 includes a vast number of healthcare services that are provided to the patient in their home in case of illness or injuries. Home healthcare is typically less expensive, convenient, and just as effective as a hospital or a nursing facility.
Technological advancements in healthcare and diagnosis equipment and changing government initiatives encouraging the adoption of home healthcare are most likely to boost the market demand. The patient demand has prompted prominent market players to take notice. However, concerns related to patient safety can impede the growth of the market.
Home Healthcare Market Segmentation
By product, the Home Healthcare Market is segmented into testing, screening and monitoring products and therapeutic products. The testing, screening, and monitoring segment is expected to continue to lead the global market owing to the increasing demand for home healthcare solutions. This segment is anticipated to register a CAGR of 8.5% during the forecast period.
The testing, screening, and monitoring products are further segmented into blood glucose monitors, blood pressure monitors, sleep apnea monitors, pulse oximeters and heart rate monitors, cholesterol monitoring devices, Holter and event monitors, and others. Therapeutic products are segmented into respiratory therapy equipment, insulin delivery devices, IV equipment, wound care products, dialysis equipment, and others.
Service-wise, the market is segmented into skilled nursing services, rehabilitation therapy services, unskilled care services, respiratory therapy services, infusion therapy services, and pregnancy care services. Among these, the skilled nursing segment is touted to be a major services segment, projected to reach the value of USD 134166.3 million by the end of 2023. On the other hand, the segment of infusion therapy services is predicted to surge at a CAGR of 8.50% during the assessment period.
By software, the market is segmented into clinical management systems, agency software, telehealth solutions, and hospice solutions. Among these segments, the clinical management systems market is projected to lead the global market and is estimated to register a CAGR of 8.3% Competitive Analysis
The report identifies various key market players including Fresenius SE & Co KGaA (Germany), GE Healthcare (U.S.), F. Hoffmann-La Roche AG (Switzerland), Abbott (U.S.), B. Braun Melsungen AG (Germany), Koninklijke Philips N.V. (The Netherlands), 3M (U.S.), Medtronic PLC (U.S.), A&D Company (Japan), McKesson Corporation (U.S.), Kinnser Software (U.S.), Becton Dickinson Company (U.S.), Apple (U.S.), Omron Corporation (Japan), LG Electronics (South Korea), and others.
Get Home Healthcare Market Research Report, by Product (Therapeutic products, Other), Service (Skilled Nursing Services, Respiratory Therapy Service, Other), Software (Clinical Management System, Telehealth Solution, Other) — Global Forecast Till 2023 @ https://www.marketresearchfuture.com/reports/home-healthcare-market-2030
On Feb 2019, Air Liquide continued on its pursuit of developing its home healthcare activity in Europe with a big acquisition of Megamed AG and Sleep & Health SA, two historic market players who are based in Switzerland. This will help patients and healthcare professional’s needs to be addressed in a better manner.
The home healthcare market, by region, has been segmented into Americas, Europe, Asia Pacific, and the Middle East and Africa. Americas holds the major share of the global market and is poised to retain its pole position towards the end of the assessment period. The factors that are favoring the proliferation of the home healthcare market in the region include the consolidation of key players, increasing healthcare expenditure, the large-scale prevalence of chronic diseases, growing government initiatives, etc. The regional market encompasses North America and South America, out of which, North America’s home healthcare market is likely to exhibit a relatively higher growth rate over the next couple of years.
Europe has secured the second spot in the global home healthcare market. It is expected to grow substantially in the forthcoming years due to the presence of well-developed technologies and increasing support from government and private organizations for research & development.
Asia Pacific is projected to strike the highest CAGR over the assessment period. The growth-inducing factors supporting the regional home healthcare market include growing geriatric population, huge patient pool, and availability of skilled labor force. Meanwhile, the Middle East & Africa is prognosticated to account for the least share of the home healthcare market owing to the prevailing poor economic conditions, especially in the African region.
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