North America 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, Cardiovascular Disorders and Hypertension, Respiratory Diseases, Pregnancy, Mobility Disorders, Cancer), Product (Wound Care, Mattress Overlays, Seating Cushions, Heel Protectors, Annual Unit Sales by Company), Services (Home Care, Unskilled Home Care, Durable Medical Equipment), Distribution Channel (Direct Tenders, Retail Sales), Equipment (Therapeutic, Diagnostic, Mobility Assist) - Industry Trends and Forecast to 2030.
North America Home Healthcare Market Analysis and Size
According to the U.S. Bureau of Labor Statistics, the number of home health aides and personal care aides is expected to increase by 70% from 2010 to 13 million by 2020. Growing geriatric population, increasing incidence rate of target diseases, and increasing need to reduce healthcare expenditure as an economically viable initiative are some of the market's. With the rising prevalence of chronic diseases, treatment costs are expected to rise steadily over the forecast period. This personalized care is a low-cost solution for controlling treatment costs and serves as a high-impact rendering driver for the industry.
Data Bridge Market Research analyses that the home healthcare market which was USD 166549.25 million in 2022, is expected to reach USD 336762.55 million by 2030, at a CAGR of 9.2% during the forecast period 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.
North America 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, Cardiovascular Disorders and Hypertension, Respiratory Diseases, Pregnancy, Mobility Disorders, Cancer), Product (Wound Care, Mattress Overlays, Seating Cushions, Heel Protectors, Annual Unit Sales by Company), Services (Home Care, Unskilled Home Care, Durable Medical Equipment), Distribution Channel (Direct Tenders, Retail Sales), Equipment (Therapeutic, Diagnostic, Mobility Assist)
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Countries Covered
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U.S., Canada and Mexico in North 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 SE (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), Fresenius SE & Co KGaA (Germany), GE Healthcare (U.K.), Baxter (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Bupa Home Healthcare, Ltd (U.K.), Healthcare at Home (U.K.), and Linde plc (Germany)
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Market Opportunities
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Market Definition
Home healthcare services include skilled medical professionals, physical therapy, occupational therapy, speech therapy, and a variety of other services. The rising prevalence of diseases such as cardiovascular, metabolic, Parkinson's, infectious (HIV/AIDS), and others has increased demand for home healthcare. Home healthcare refers to rehabilitation services provided in a patient's home, such as skilled nursing, physical therapy, and occupational therapy.
North America Home Healthcare Market Dynamics
Drivers
- Rising geriatric population
The market is expected to be driven primarily by the large geriatric population, which is highly susceptible to diseases such as pressure ulcers and venous stasis ulcers. According to World Health Organization (WHO) statistics, the global population of people aged 60 and up is expected to grow by 841 million in 2014, reaching 2 billion by 2050. As a result, the growing global geriatric population base, and the fact that approximately 70% of home health patients are 65 and older, drive the market demand during the forecast period.
Opportunities
- Rising focus on telehealth
Home healthcare practitioners can still have an impact even when they are not physically present, because of telehealth. During virtual sessions, nurses or doctors can use audio-virtual technologies to assess a patient's condition and determine the best course of action, which may include providing care or writing a prescription. These are the certain factors which propel the market growth.
Restraints/Challenges
- Limited insurance coverage
In most North American countries, home healthcare is covered by insurance, however, this insurance is only extended to Medicare-certified home healthcare organizations. Insurance does not cover equipment used for remote monitoring or multi-parameter monitoring.
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.
COVID-19 Impact on the Home Healthcare Market
The healthcare industry has seen a shift in trends toward home healthcare as opposed to hospital care because of the COVID-19 pandemic. The shift toward home healthcare services is expected to increase demand for home healthcare equipment in the coming years. This will expand opportunities for regional and multinational medical device manufacturers. Since the COVID-19 Pandemic has revealed a significant gap in many countries in terms of adequate healthcare staff for home settings, providers are implementing various strategies such as a dedicated hotline for handling C0VID-19 emergencies.
North America Home Healthcare Market Scope
The home healthcare market is segmented on the basis of type, disease, product, services, equipment 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
- Cardiovascular Disorders and Hypertension
- Respiratory Diseases
- Pregnancy
- Mobility Disorders
- Cancer
Product
- Wound Care
- Mattress Overlays
- Seating Cushions
- Heel Protectors
- Annual Unit Sales by Company
Services
- Home Care
- Unskilled Home Care
- Durable Medical Equipment
Distribution Channel
- Direct Tenders
- Retail Sales
Equipment
- Therapeutic
- Home Respiratory Therapy Equipment
- Insulin Delivery Devices
- Home IV Pumps
- Home Dialysis Equipment
- Others
- Diagnostic
- Diabetic Care Unit
- BP Monitors
- Multi Para Diagnostic Monitors
- Home Pregnancy and Fertility Kits
- Apnea and Sleep Monitors
- Holter Monitors
- Heart Rate Monitors
- Others
- Mobility Assist
- Wheel Chair
- Home Medical Furniture
- Walking Assist Devices
Home Healthcare Market Regional Analysis/Insights
The home healthcare market is analyzed and market size insights and trends are provided by country, 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.
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 SE (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)
- Bupa Home Healthcare, Ltd (U.K.)
- Healthcare at Home (U.K.)
- Linde plc (Germany)
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