Global Home Care Providers Market – Industry Trends and Forecast to 2029

Home Care Providers Market Analysis and Size

The future of home health project sought to support the transformation of home health and home-based care to meet the needs of patients in the evolving health-care system in the United States. Home health care providers primarily provide therapeutic services, skilled nursing services, and other healthcare services. The growing geriatric population and the increasing prevalence of chronic diseases are driving demand for the home care providers market.

Data Bridge Market Research analyses that the home care providers market which was USD 320.6 billion in 2021, is expected to reach USD 576.05 billion by 2029, at a CAGR of 7.60% during the forecast period 2022 to 2029. In addition to the insights on market scenarios such as market value, growth rate, segmentation, geographical coverage, and major players, the market reports curated by the Data Bridge Market Research also include depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.

Home Care Providers Market Scope and Segmentation      

Market Definition

Homecare is health care or supportive care provided by a professional care provided in the patient's or client's individual home, as opposed to care provided in group settings such as clinics or nursing homes. Homecare can also be referred to as domiciliary care, social care, or in-home care. Home care products are used to maintain the interior of a home or any commercial building.

Global Home Care Providers Market Dynamics

Drivers

• Rising demand for household care products

The market for home care providers is likely to grow at a healthy rate during the forecast period. This can be attributed to the fact that proper home care enhances the aesthetics and, at the same time, reduces the risk of infection due to poor sanitation, especially in remote areas. Thus, this helps to control the increasing rate of hospitalisation due to infections, which is driving the segment growth. During the forecast period, the growing popularity of odour control products and carpet cleaners, owing to the rising standards of living and increasing disposable income, is anticipated to boost the market growth.

• Increasing inclination for home hygiene

Hygiene is more than just cleanliness because cleanliness entails removing dirt, waste, or unwanted items from the surface of objects with detergents and other necessary equipment. Cleaning is one of several methods used to prevent disease in hygiene practices. Previously, despite a general awareness of its importance, hygiene consciousness among the general public in India was not particularly high. The increasing number of households and disposable income in India, as well as increased purchasing power for home care and hygiene products, are driving home care product sales in the country's residential sector. According to the World Bank, the percentage of people in India using basic sanitation services increased from 59.85% in 2016 to 71.26% in 2020. These all factors propel the market growth.

Opportunities

• Increase in housing units

The primary factors driving the home care providers market in North American countries such as the United States are the adoption of a healthier lifestyle and the rising concern for sanitation. Home care sales in the United States are intimately correlated with the country's thriving real estate market, household spending, and increase in housing units. For instance, according to the US Census Bureau, the number of dwelling units increased from 135.58 million in 2016 to 140.8 million in 2020, significantly boosting the sales of home care providers in the US.

Restraints/Challenges

• Unfavourable reimbursement policies

Unfavourable reimbursement policies along with patient safety concern. The socio-demographic trends, worldwide home healthcare providers are faced with patients and healthcare providers, increasing demand for restraint use from informal caregivers, resulting in the use of various types of restraints in home care which will obstruct the market's growth rate.

This home care providers market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the home care providers market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.

COVID-19 Impact on the Home Care Providers Market

The demand for home healthcare providers is anticipated to rise due to shifting toward home healthcare services in the coming years. This is expected to increase opportunities for regional and multinational medical device manufacturers. Since the COVID-19 Pandemic has revealed a significant gap in many countries pertaining to the adequate healthcare staff for home settings, various strategies are being undertaken by the providers such as a dedicated hotline for handling queries related to C0VID-19 emergencies.

The COVID-19 pandemic significantly impacted home care agencies, including home health agencies, and their staff. Some of the difficulties encountered were entirely novel and directly related to the pandemic. In other cases, the pandemic exacerbated long-standing industry issues. Some of these issues were addressed by states and the federal government through policies, regulations, and guidance changes. Home care agencies also changed their policies and practises in response.

Recent developments

• In October 2021, Samsung launched the IntensiveWash Dishwater range in India. The new dishwashers are available in stainless steel, silver, and white. Three rinse cycles in the IntensiveWash with triple Rinse feature effectively remove every strain from heavily soiled dishes. It cleans cookware, dishes, and utensils of grease, leftover oil, burnt stains, and baked food.

Global Home Care Providers Market Scope

The home care providers market is segmented on the basis of service, duration, and end user. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.

Service

• Home Health Care Agencies
• Visiting Nurses
• In-Home Hospice Care Services

 Duration

• Daily
• Weekly
• Monthly
• Quarterly
• Annually

 End User

• Patients After Surgery
• Older Persons
• Mothers and New-borns
• People with Disabilities
• Mentally ill Adults
• Others

Home Care Providers Market Regional Analysis/Insights

The home care providers market is analysed and market size insights and trends are provided by country, service, duration, and end user as referenced above.

The countries covered in the home care providers market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

North America dominates the home care providers market due to the rising occurrences of chronic diseases along with easy availability of service providers.

Asia-Pacific is expected to grow at the highest growth rate in the forecast period of 2022 to 2029 owing to the rising awareness regarding services.

The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.

Competitive Landscape and Home Care Providers Market Share Analysis

The home care providers market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to home care providers market.

Some of the major players operating in the home care providers market are:

• Abbott (U.S.)
• Fresenius SE & Co. KGaA (Germany)
• General Electric (U.S.)
• B. Braun Melsungen AG (Germany)
• Chemed Corporation. (U.S.)
• Children's Healthcare of Atlanta Inc. (U.S.)
• Knight Health Holdings, LLC (U.S.)
• Touching Hearts At Home. (U.S.)
• Brookdale Senior Living Inc. (U.S.)
• Encompass Health Corporation (U.S.)
• Golden Living HomeCare, Inc. (U.S.)

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