According to the latest report by IMARC Group, titled “Home Healthcare Market by Product (Therapeutic Products, Testing, Screening, and Monitoring Products, Mobility Care Products), Service (Skilled Nursing, Rehabilitation Therapy, Hospice & Palliative Care, Unskilled Care, Respiratory Therapy, Infusion Therapy, Pregnancy Care), Indication (Cancer, Respiratory Diseases, Movement Disorders, Cardiovascular Diseases & Hypertension, Pregnancy, Wound Care, Diabetes, Hearing Disorders, and Others), and Region 2023-2028,” the global home healthcare market? size reached US$ 360.2 Billion in 2022.?Home healthcare refers to a range of medical, therapeutic, and supportive services provided to individuals within the comfort of their own homes. It encompasses a wide range of healthcare services, such as physical therapy, nursing care, speech therapy, occupational therapy, personal care assistance, and medical-social services. Home healthcare services are provided by a team of trained professionals, including registered nurses, licensed therapists, certified nursing assistants, and home health aides. They work collaboratively to build a customized care plan tailored to the individual's specific needs, ensuring continuity of care, and addressing the unique challenges and goals of each patient. The goal of home healthcare is to deliver personalized, high-quality healthcare services to individuals who may have difficulty accessing or prefer to receive care outside of traditional healthcare facilities such as hospitals or nursing homes. It enables patients to receive comprehensive care while remaining in a familiar environment that promotes comfort, independence, and emotional well-being. These home healthcare services vary on the basis of the patient's condition and requirements. They also include wound care, medication management, chronic disease management, rehabilitation therapies, assistance with activities of daily living (ADLs) such as bathing, dressing, and meal preparation, and emotional support.
Global Home Healthcare Market Trends:
The increasing geriatric population represents one of the significant factors driving the growth of the market across the globe. Since elderly people often find it unable to visit any healthcare center or hospitals to get the required treatment, this is facilitating the need for the home healthcare setup, which is acting as a growth-inducing factor. The market is also driven by advancements in medical technology, which provide complex healthcare services within the home setting. Moreover, devices, such as remote monitoring systems, telehealth platforms, and wearable sensors enable healthcare professionals to monitor patients remotely and deliver care efficiently, enhancing the viability and convenience of home healthcare, which, in turn, is driving the growth of the market. In line with this, the cost-effectiveness of home healthcare services as compared to in-patient hospital care is boosting the demand for home healthcare services. This is primarily due to receiving care at home, patients can avoid expensive hospital stays, reducing healthcare costs for both individuals and healthcare systems, which is further contributing to the growth of the market. In addition to this, the increasing incidences of target diseases, such as dementia, Alzheimer’s, and orthopedic diseases, is propelling the growth of the market. Apart from this, the shortage of healthcare professionals, advancements in chronic disease management, and governments in several countries worldwide implementing policies and initiatives to support home healthcare including reimbursement policies, regulatory frameworks, and funding programs, are some of the other factors creating a positive outlook for the market across the globe. Looking forward, the market value is projected to reach US$ 599.9 Billion by 2028, expanding at a CAGR of 9.02 % during 2023-2028.
- Based on the product, the market has been classified into therapeutic products, testing, screening, and monitoring products, and mobility care products. Currently, therapeutic product holds the largest market share worldwide.
- On the basis of the service, the market has been segmented into skilled nursing, rehabilitation therapy, hospice & palliative care, unskilled care, respiratory therapy, infusion therapy, and pregnancy care. Currently, skilled nursing is dominating the market across the globe.
- Based on indication, the market has been segregated into cancer, respiratory diseases, movement disorders, cardiovascular diseases & hypertension, pregnancy, wound care, diabetes, hearing disorders, and others. Presently, diabetes is holding the largest market share worldwide.
- On a geographical front, the market has been segmented into Asia Pacific, North America, Europe, Middle East and Africa, and Latin America. Presently, North America is dominating the largest market across the world.
- The competitive landscape of the market has also been examined with some of the key players being A&D Company Limited, Addus HomeCare Corporation, Amedisys Inc., B. Braun Melsungen AG, Baxter International Inc., Becton Dickinson and Company, Fresenius Medical Care AG & Co. KGaA, Invacare Corporation, Koninklijke Philips N.V., McKesson Corporation, Medline Industries LP, OMRON Healthcare Inc. (Omron Corporation) and ResMed Inc.
|Base Year of the Analysis
| Historical Period
||Product, Service, Indication, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||A&D Company Limited, Addus HomeCare Corporation, Amedisys Inc., B. Braun Melsungen AG, Baxter International Inc., Becton Dickinson and Company, Fresenius Medical Care AG & Co. KGaA, Invacare Corporation, Koninklijke Philips N.V., McKesson Corporation, Medline Industries LP, OMRON Healthcare Inc. (Omron Corporation) and ResMed Inc.
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