The introduction of new devices for treating a variety of conditions at home and rising awareness of home care services are the main factors driving home healthcare market expansion. The incidence of target diseases like dementia and Alzheimer's is expected to rise, along with the number of people who are getting older. People are gravitating toward homecare services due to emerging digitization because they offer a lot of feasibility. Home health care is preferred in this case over hospitalization.
According to Data Bridge Market Research Home Healthcare is valued at USD 108,068.3 million in 2022 and will grow to USD 213,757.6 million by 2030 at 8.9% GAGR
“High rate of purchases of various home healthcare providers will surge the market growth"
The major players in the region have made increasing numbers of mergers and acquisitions between companies one of their key strategies. For instance, in 2019 Air Liquide purchased Megamed AG and Sleep and Health SA, two Swiss-based home healthcare companies. The primary objective was to increase its home healthcare operations in Europe. As a result, this factor will spur market expansion.
What restraints the growth of the Europe Home Healthcare Market?
“Restricted mobility of patients will limit the growth"
Geriatric chairs, bed rails, and belts are the main modes of movement considered by services. In order to prevent patients from using the stairs, reaching their medications, organizing specific areas of the house, and carrying out other household tasks, nurses restricted their freedom of movement. The nurses allegedly frequently locked the patient in a different room, as well, as was also observed. This constrains the growth of the market.
Segmentation: Europe Home Healthcare Market
The home healthcare market is segmented on the basis type, disease, and distribution channel.
- On the basis of type, the home healthcare market is segmented into devices, therapeutics, diagnostic, mobility assist, services, skilled nursing, unskilled nursing, and software.
- On the basis of disease, the home healthcare market is segmented into heart diseases, hypertension, bone and joint diseases, diabetes, chronic obstructive pulmonary diseases, obesity, dementia/alzheimer's diseases, infective diseases (hiv/aids), parkinson's diseases, smoking, asthma, depression.
- On the basis of distribution channel, the home healthcare market is segmented into direct tenders, and retail sales.
Regional Insights: Germany is expected to dominate the Europe Home Healthcare Market
Germany is expected to experience the highest CAGR during the forecast period because of its significant elderly population, sophisticated healthcare system, and relatively higher levels of disposable income. The company's high market share is also a result of growing government initiatives aimed at reducing healthcare costs by improving home healthcare.
To know more about the study, visit, https://www.databridgemarketresearch.com/reports/europe-home-healthcare-market
Recent Developments in Europe Home Healthcare Market
- In 2019, ResMed strengthened its position as the market leader in Korea (HBH) by purchasing HB Healthcare. Manufacturer of home medical equipment HB Healthcare Safety, based in Korea, provides guidance and technology to patients and healthcare professionals.
The Prominent Key Players Operating in the Home Healthcare Market Include:
- Koninklijke Philips N.V. (U.S)
- Omron Healthcare, Inc. (Japan)
- Air Liquide (France)
- B. Braun Melsungen AG (Germany)
- Medtronic (Ireland)
- DaVita Inc. (U.S)
- Cardinal Health (U.S)
- Sunrise Medical (U.S)
- General Electric (U.S)
- A&D Company, Limited (Japan)
- BAYADA Home Health Care (U.S)
- Invacare Corporation (U.S)
- GE Healthcare (U.K.)
- Baxter (U.S.)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Bupa Home Healthcare, Ltd (U.K.)
- Healthcare at Home (U.K.)
- Linde plc (Germany)
Above are the key players covered in the report, to know about more and exhaustive list of Europe home healthcare market companies contact, https://www.databridgemarketresearch.com/contact
Research Methodology: Europe Home Healthcare Market
Data collection and base year analysis are done using data collection modules with large sample sizes. The market data is analyzed and estimated using market statistical and coherent models. In addition, market share analysis and key trend analysis are the major success factors in the market report. The key research methodology used by dbmr research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, data models include vendor positioning grid, market time line analysis, market overview and guide, company positioning grid, company market share analysis, standards of measurement, global vs regional and vendor share analysis. Please request analyst call in case of further inquiry.
