Supply Chain Ecosystem Analysis now part of DBMR Reports
Market Size in USD Billion
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USD 320.60 Billion |
| USD 576.05 Billion | |
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Global Home Care Providers Market, By 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) – Industry Trends and Forecast to 2029.
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.
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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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)
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Countries Covered
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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.
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Market Players Covered
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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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Market Opportunities
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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.
Drivers
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.
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
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 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.
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
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
Duration
End User
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.
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:
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Data collection and base year analysis are done using data collection modules with large sample sizes. The stage includes obtaining market information or related data through various sources and strategies. It includes examining and planning all the data acquired from the past in advance. It likewise envelops the examination of information inconsistencies seen across different information sources. The market data is analysed and estimated using market statistical and coherent models. Also, market share analysis and key trend analysis are the major success factors in the market report. To know more, please request an analyst call or drop down your inquiry.
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. Data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Patent Analysis, Pricing Analysis, Company Market Share Analysis, Standards of Measurement, Global versus Regional and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.
Data Bridge Market Research is a leader in advanced formative research. We take pride in servicing our existing and new customers with data and analysis that match and suits their goal. The report can be customized to include price trend analysis of target brands understanding the market for additional countries (ask for the list of countries), clinical trial results data, literature review, refurbished market and product base analysis. Market analysis of target competitors can be analyzed from technology-based analysis to market portfolio strategies. We can add as many competitors that you require data about in the format and data style you are looking for. Our team of analysts can also provide you data in crude raw excel files pivot tables (Fact book) or can assist you in creating presentations from the data sets available in the report.