Home Healthcare Market Size to Reach Revenues of around USD 390 Billion by 2026 - Arizton
CHICAGO, May 13, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global home healthcare market report.
The home healthcare market is expected to grow at a CAGR of around 6% during the period 2020?2026.
Key Highlights Offered in the Report:
- Several trends in healthcare such as increasing demand of on-demand healthcare services, increasing demand of preventive healthcare devices, and adoption of patient-centric model in healthcare are expected to drive the growth of home healthcare market.
- The effect of COVID-19 has been slightly negative on global home healthcare market, but during the forecast period it expected boost this growth. This is because of the shift towards preventive healthcare and fueled the demand of contact-less thermometers and pulse oximeters during the pandemic.
- North America region has the highest market share in home healthcare market with an absolute growth of 38%, which is attributed by its mature healthcare sector and high awareness towards personal health in population.
- The global home healthcare market is segmented as home healthcare devices segment and home healthcare services segment and services segment accounted for almost 72% market share.
- The diagnostic and monitoring devices are widely used in home healthcare, as they are useful in monitoring several chronic diseases such as diabetes, hypertension, heart diseases, etc. They are also useful in monitoring several vital signs such as body temperature, blood oxygen levels, and in monitoring sleep patterns of a person and the segment accounted for around 54% to the global home healthcare devices market.
- In home healthcare services market, the skilled nursing services accounted for a market share of 36% in 2020.
- Cardiovascular diseases occupied the highest market share of over 18% in global home healthcare market in 2020.
Key Offerings:
- Market Size & Forecast by Revenue | 2020?2026
- Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
- Market Segmentation – A detailed analysis by products, indication, and geography
- Competitive Landscape – 16 key vendors and 29 other vendors
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Home Healthcare Market – Segmentation
- The home healthcare services market accounted for the highest share of over 72% in 2020. Home services help provide the patients suffering from chronic diseases or are affected by any disability. Skilled nursing, diagnostics & monitoring, therapeutic, infusion therapy, and home health aide services are the major services offered under the services segment.
- The global home healthcare devices market is growing at a CAGR of over 6% during the forecast period. Home use medical devices are observing demand as the awareness in the population toward home healthcare is growing. The devices segment accounted for the home healthcare market share of approx. 28% in 2020, the segment is likely to increase its market share in 2026.
- The orthopedic disease segment captured over 16% of the global home healthcare market share. Home care services mainly dominate the orthopedic disease segment as they aid in daily life for people suffering from mobility challenges and musculoskeletal abnormalities. The increasing burden of orthopedic diseases across the globe is a significant impetus for the growth of orthopedic home healthcare services, especially in countries with a high percentage of the elderly population.
Home Healthcare Market by Product
- Devices
- Diagnostic and Monitoring devices
- Therapeutic devices
- Rehabilitation devices
- Services
- Skilled Nurse Services
- Diagnostic and Monitoring Services
- Therapeutic Services
- Infusion Therapy Services
- Home Health Aides Services
- Others
Home Healthcare Market by Indication
- Cardiovascular disease
- Orthopedic Disease
- Metabolic Diseases
- Respiratory/Pulmonary Disease
- Neurovascular Disease
- Kidney Disease
- Mobility Disorder
- Others
Home Healthcare Market – Dynamics
On-demand healthcare services are popular as they are consumer-centric, easy to access and provide satisfactory services. These services are available in the travel industry, food industry, and transport industry. They are evolving in the healthcare industry as one of the fastest-growing trends. At present, people are expecting service to be available on their demand. Hence, many healthcare service providers have started on-demand healthcare services. One of the most popular examples is on-demand pharmacy apps. These apps let users get pharmaceutical products on-demand delivered to their homes. Telemedicine and telehealth platforms provide on-demand virtual healthcare services that let people book appointments with physicians of their choice to get the required medical consultation.
Key Drivers and Trends fueling Market Growth:
- Shift to Patient-Centric Model
- On-Demand Healthcare Services
- Technological Advances in Home Healthcare Products
- Low Risk of Hospital Readmission & Fall Injuries
Home Healthcare Market – Geography
North America includes countries such as the US and Canada that have advanced healthcare systems and high awareness of personal health. Most key vendors of the home healthcare market are native to the US. The major home healthcare service providers are from the US, which has attributed to its higher market share on a global scale. Hence, North America is expected to retain its position in the global home healthcare market. However, as the market is reached maturity, the market share is expected to be throughout the forecast period. The region is expected to show an incremental growth of over USD 43 billion during the forecast period, which is the highest value when compared with the incremental growth of other regions.
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Home Healthcare Market by Geography
- North America
- US
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- APAC
- China
- India
- Japan
- South Korea
- Australia
- Latin America
- Mexico
- Brazil
- Argentina
- Middle East & Africa
- Saudi Arabia
- Turkey
- South Africa
Major Vendors
- Omron Corporation
- Abbott
- B. Braun Melsungen Ag
- GE Healthcare
- Medtronic
- Koninklijke Philips N.V
- A&D Company
- Cardinal Health
- Hoffmann-La Roche AG
- Fresenius SE & Co. KGaA
- Air Liquide
- Kindred Healthcare LLC
- Bayada Home Health Care
- Amedisys
- LHC Group, Inc.
- Encompass Health Corporation
Other Prominent Vendors
- Advita Pflegedienst GmbH
- Healthcare at Home
- Privatassistenza
- Portea
- NIHON KOHDEN
- OSI Systems
- Shenzhen Mindray Bio-Medical Electronics
- Contec Medical Systems
- Drägerwerk
- EPSIMED
- GUANGDONG BIOLIGHT MEDITECH
- Kizlonmedical
- Mediana
- MEDION HEALTHCARE
- SCHILLER
- Skanray Technologies
- Baxter International
- CardioMed Supplies
- Merit Medical Systems
- MITRA INDUSTRIES
- Angiplast
- Lifeline Services
- Health Line International
- Newsol Technologies
- Poly Medicure
- Terumo
- Utah Medical Products
- Medcomp
- Renax Biomedical Tech
Explore our healthcare & lifesciences profile to know more about the industry.
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About Arizton:
Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.
We offer comprehensive market research reports on industries such as consumer goods & retail technology, automotive and mobility, smart tech, healthcare, and life sciences, industrial machinery, chemicals and materials, IT and media, logistics and packaging. These reports contain detailed industry analysis, market size, share, growth drivers, and trend forecasts.
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