Size of Global Home Healthcare Market Expected to Grow USD 454.34 Billion by 2026: Facts & Factors

Home Healthcare Market Size

Home Healthcare Market Size

Global Home Healthcare market is expected to grow at a CAGR of 7.10% and is anticipated to reach around USD 454.34 Billion by 2026.

NEW YORK, UNITED STATES, June 9, 2020 / — Findings from Facts and Factors report “Home Healthcare Market By Product (Diagnostics and Monitoring Home Devices, Therapeutics Home Healthcare Devices, Home Mobility Assist Devices, and Medical Supplies), By Services (Rehabilitation Services, Telehealth and Telemedicine Services, Infusion Therapy Services, Respiratory Therapy Services, and Unskilled Home Healthcare Services), By Software (Clinic Management Systems, Agency Management Software, and Hospice Solutions), and By Region: Global Industry Outlook, Market Size, Business Intelligence, Consumer Preferences, Statistical Surveys, Comprehensive Analysis, Historical Developments, Current Trends, and Forecasts, 2020–2026” states that the global Home Healthcare market in 2019 was approximately USD 281.10 Billion. The market is expected to grow at a CAGR of 7.10% and is anticipated to reach around USD 454.34 Billion by 2026.

The growing geriatric population has increased the prevalence of chronic diseases such as Alzheimer’s, dementia, and orthopedic conditions, thereby increasing the demand for the Home Healthcare market. In addition to this, the rising demand for value-based healthcare is expected to further fuel the growth of the market during the forecast period. Furthermore, the growing demand for more healthcare services and healthcare workers& agencies is anticipated to drive market growth. The Home Healthcare market is set to grow significantly owing to the rising demand for home health and personal healthcare aides in the developed and developing countries. The complete or partial in-home service coverage by the government further helps augment the market growth. The demand for improved patient outcomes at a low cost is likely to propel the Home Healthcare market growth.

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Market Players:

Some of the key market players of the global Home Healthcare market include Air Liquide, Amedisys, Koninklijke Philips N.V., Arcadia, Home Health Care, Inc, Davita Inc, Diaverum, Home Healthcare Solutions Company, LLC, National HealthCare Corporation and PORTEA MEDICAL, Apple Home Healthcare, Kindred Healthcare, LLC, LHC Group, Inc., OMRON Corporation, B. Braun Melsungen AG, Air Liquide, BPL Medical Technologies, CARDINAL HEALTH, and Sunrise Medical LLC, among other.

Market Segment Dominance:

Therapeutic home healthcare devices category dominated the market

The therapeutics home healthcare devices hold the majority of the market share of the global Home Healthcare market during the forecast period. The increasing prevalence of chronic diseases such as Alzheimer’s disease, chronic or acute respiratory illnesses, end-stage renal disease (ESRD), and others have surged the demand for the latest device treatments. In addition to this, low-cost service charges are another factor propelling the demand for therapeutic home healthcare devices.

Rehabilitation services are expected to lead the market during the forecast period

Rehabilitation services held the majority of the market share and are expected to expand during the forecast period due to the surging demand for skilled nurses providing rehabilitation services.

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Clinic management systems are projected to dominate the global Home Healthcare market

The clinic management systems are expected to lead in the software segment owing to its superior features such as providing all in one solution for the agencies. On the other hand, the agency management software highest growth due to its high utilization in billing, roaster scheduling, maintaining records, patient remote monitoring, and associated with the business.

Regional Dominance:

North America dominates the global Home Healthcare market

North America is expected to hold the largest market share owing to the high demand for home healthcare in the region. The shift toward in-home healthcare from the nursing home coupled with technological advancement will further augment the Home Healthcare market in North America. Additionally, the presence of advanced medical infrastructure, increasing patient awareness, high healthcare spending, and the enactment of the efficient regulatory framework are also fueling the market in the region.

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This report segments the global Home Healthcare market as follows:

Global Home Healthcare Market: Product Segmentation Analysis

Diagnostics and Monitoring Home Devices
Therapeutics Home Healthcare Devices
Home Mobility Assist Devices
Medical Supplies

Global Home Healthcare Market: Services Segmentation Analysis

Rehabilitation Services
Telehealth and Telemedicine Services
Infusion Therapy Services
Respiratory Therapy Services
Unskilled Home Healthcare Services

Global Home Healthcare Market: Software Segmentation Analysis

Clinic Management Systems
Agency Management Software
Hospice Solutions

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Source: EIN Presswire