The ‘Global Home Healthcare Market Size, Share, Growth, Analysis, Report and Forecast 2023-2031’ by Expert Market Research gives an extensive outlook of the global home healthcare market, assessing the market on the basis of its segments like equipment, services, application, and major regions.
The report studies the latest updates in the market, along with their impact across the market. It also analyses the market demand, together with its price and demand indicators. The report also tracks the market on the bases of SWOT and Porter’s Five Forces Models.
The key highlights of the report include:
Market Overview (2016-2031)
• Forecast CAGR (2023-2031): 8.50%
The home healthcare market is driven by a number of factors, including an ageing population, increasing chronic disease rates, and advances in technology. The ageing population is one of the major drivers of the home healthcare market, as older individuals are more likely to require medical care and assistance with daily activities. With the increasing rates of chronic diseases such as diabetes, heart disease, and cancer, individuals are more likely to require ongoing medical care and support in their homes.
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Advances in technology, such as telemedicine, remote monitoring, and wearable devices, have also played a significant role in driving the home healthcare market, as they allow for more efficient and cost-effective delivery of care.
Additionally, the rising costs of healthcare and the desire for more personalized and convenient care has led to an increased demand for home healthcare services. Government initiatives to reduce healthcare costs and increase access to care, such as the Affordable Care Act, have also played a role in driving the home healthcare market. Overall, the home healthcare market is driven by a combination of demographic, economic, and technological factors that are expected to continue to drive growth in the coming years.
Home Healthcare Market Segmentation
Home healthcare refers to medical and therapeutic services provided to individuals in their own homes, rather than in a hospital or other healthcare facility. Services may include nursing care, physical therapy, occupational therapy, speech therapy, and other forms of medical treatment or rehabilitation. Home healthcare can be provided by a variety of healthcare professionals, including nurses, therapists, and home health aides. It is often used for individuals who are recovering from an illness or injury, or for those with chronic health conditions that require ongoing care and support.
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Market Breakup by Equipment
• Therapeutic Products
Wound Care Products
Home Intravenous Pumps
Nebulizers and Inhalers
Insulin Delivery Devices
Oxygen Delivery Systems
Sleep Apnea Therapeutic Devices
• Testing, Screening, and Monitoring Products
Blood Glucose Monitors
Blood Pressure Monitors
Ovulation and Pregnancy Test Kits
Coagulation Monitoring Products
Heart Rate Monitors
HIV Test Kits
Temperature Monitoring Devices
Foetal Monitoring Devices
• Mobility Care
Walking Assist Devices
Home Medical Furniture
Market Breakup by Services
• Skilled Home Healthcare
Physician Primary Care
• Unskilled Home Healthcare
Market Breakup by Application
• Respiratory Diseases
• Wound Care
• Cardiovascular Diseases and Hypertension
Market Breakup by Region
• North America
• Asia Pacific
• Latin America
• Middle East and Africa
Home Healthcare Market Trends
The home healthcare market has seen a significant increase in product launches and developments in recent years. One major development has been the rise of connected medical devices, such as wearable health monitors and smart home health systems. These devices allow patients to track their vital signs and manage their health conditions from the comfort of their own homes.
Another major product launch in the home healthcare market has been the development of telemedicine systems. These systems enable patients to consult with healthcare professionals remotely, through video conferencing and other digital tools. This allows patients to receive medical care and advice without having to leave their homes, which is particularly beneficial for those with mobility issues or chronic health conditions.
Another key development in the home healthcare market has been the introduction of home-based diagnostic devices. These devices allow patients to conduct diagnostic tests and monitor their health conditions at home, such as glucose monitoring for diabetes patients, and blood pressure monitoring for hypertension patients.
Another important product launch in the home healthcare market has been the development of home-based rehabilitation equipment. This includes products such as exercise bikes, treadmills, and strength training equipment, which allow patients to continue their rehabilitation at home after a hospital stay or injury.
Key Market Players
The major players in the home healthcare market report are Sonida Senior Living Corporation, LifePoint Health National Healthcare Corporation, Addus Homecare, Genesis Healthcare, Inc., Abbott Home Health Care, Inc., Omron Corporation, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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