Global Home Healthcare Market, By Type (Devices, Services, Software), Disease (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), Distribution Channel (Direct Tenders, Retail Sales) – Industry Trends and Forecast to 2030.
Home Healthcare Market Analysis and Size
Significant advancements in the healthcare field have been made, including research and drug development. Home healthcare organizations are becoming more and more popular with each passing year. Additionally, market players in the current contract research organization (CRO) services market primarily focus on meeting the customized needs of clinical trials.
Data Bridge Market Research analyses that the home healthcare market, which was USD 99,236.66 million in 2022, would rise to USD 196,288.64 million by 2030 and is expected to undergo a CAGR of 8.90% during the forecast period from 2023 to 2030. 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 Healthcare Market Scope and Segmentation
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Report Metric
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Details
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Forecast Period
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2023 to 2030
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Base Year
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2022
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Historic Years
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2021 (Customizable to 2015 - 2020)
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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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Type (Devices, Services, Software), Disease (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), Distribution Channel (Direct Tenders, Retail Sales)
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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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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.), Philips Healthcare (Netherlands), Fresenious SE & Co KGaA (Germany), GE Healthcare (U.K.), Baxter (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Healthcare at Home (U.K.), and Linde plc (Germany)
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Market Opportunities
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Market Definition
The home healthcare industry includes many healthcare services for diseases in homecare settings. Home healthcare is developed to treat injuries and enhance overall health. The physician will determine the treatment plan and any treatments that the patient may need at home. The period of home healthcare can be short-term to long-term which, depends on the health of the patient.
Global Home Healthcare Market Dynamics
Drivers
- Higher Availability of Home Healthcare Devices
The multiple availabilities of home healthcare devices increase the market growth due to the growing demand for blood glucose monitoring devices, home dialysis machines, and thermometers. The reduced demand for nurses because of the fear among patients associated with contracting coronavirus infection is anticipated to positively affect this segment's growth. Thus, these devices are boosting the market's growth.
- Huge Rate of Acquisitions of Different Home Healthcare Providers
The growing number of mergers and acquisitions between multiple organizations is a significant strategy followed by the major market players in the region. For instance, Air Liquide acquired two home healthcare providers based in Switzerland named Megamed AG and Sleep and Health SA in 2019. The main goal was to enhance its home healthcare activity in Europe. Thus, this factor will boost market growth.
Opportunities
- Increasing Reimbursement Policies Provided by Organizations
In most developed and emerging nations, the central government provides partial or complete coverage for in-home services, enhancing market growth. For instance, in the U.S., Medicare reimbursements are very favorable in offering value-based healthcare for improved patient outcomes at a much lower cost. Therefore, homecare has become a modality of choice for treatment. Thus, this factor increases the market growth.
- Growing Elderly Population
The population of older people in this region will increase on a large scale, from 90.5 million at the start of 2019 to 129.8 million by 2050. In the last few decades, the WHO European Region has seen a major increase in life expectancy. In most European nations, the central government has extended its policy for home care. The elderly are in much need of these homecare services as it gets difficult to access hospital facilities. Thus, this factor boosts market growth.
Restraints/Challenges
- Restricted Mobility of Patients
The mode of movement mainly considered in these services is geriatric chairs, bed rails, and belts. Patients' freedom of movement was limited by nurses inhibiting access to stairs, access to medication, reorganizing portions of the house, and different household activities. It has also been witnessed that the nurses claimed to have locked the patient in a different room regularly. Thus, this factor limits the market growth.
This home healthcare 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 healthcare market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Recent Development
• In 2021, Charles River Laboratories entered a definitive agreement to acquire Cognate BioServices Inc., a cell and gene therapy contract development and manufacturing organization (CDMO). This agreement aims to increase Charles River's scientific capabilities in the fast-growing cell and gene therapy sector.
Global Home Healthcare Market Scope
The home healthcare market is segmented on the basis of type, disease and distribution channel. 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.
Type
- Devices
- Services
- Software
Disease
- 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
Distribution Channel
- Direct Tenders
- Retail Sales
Home Healthcare Market Regional Analysis/Insights
The home healthcare market is analyzed and market size insights and trends are provided by type, disease and distribution channel as referenced above.
The countries covered in the home healthcare 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 healthcare market due to the presence of a large elderly population in this region, along with advanced healthcare infrastructure and relatively higher disposable income levels. Furthermore, the rising number of government initiatives to decrease healthcare expenditures by supporting home healthcare also adds to its large market share.
Asia-Pacific is expected to grow significantly due to underdeveloped healthcare infrastructure, high-end in-hospital healthcare facilities, and chronic diseases needing long-term care. Also, several companies are primarily focusing more on untapped countries such as India and China, enhancing market growth.
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.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The home healthcare market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for home healthcare market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the home healthcare market. The data is available for historic period 2011-2021.
Competitive Landscape and Home Healthcare Market Share Analysis
The home healthcare 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 healthcare market.
Some of the major players operating in the home healthcare market are:
- 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.)
- Philips Healthcare (Netherlands)
- GE Healthcare (U.K.)
- Baxter (U.S.)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Healthcare at Home (U.K.)
- Linde plc (Germany)
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