1. Health

Home Healthcare Market Top Manufacturers, Share Rate, Product Information, Explosive Growth Opportunity, Size Analysis, and Industry Environment

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Home Healthcare Industry Overview

The global home healthcare market size is expected to reach USD 634.9 billion by 2030, according to a new report by Grand View Research, Inc. The market is expected to expand at a CAGR of 7.9% from 2022 to 2030. This growth can be attributed to cost-efficiency, improved patient outcomes, and convenience offered by home healthcare agencies. In addition, the rising geriatric population and the growing prevalence of chronic diseases such as Alzheimer’s, dementia, and orthopedic conditions, are expected to drive market growth. As per the Population Reference Bureau data updated in June 2019, the number of people aged 65 years and above was 52 million in 2018 and is projected to double by 2060 to reach 95 million.

Home Healthcare Market Segmentation

Grand View Research has segmented the global home healthcare market on the basis of component and region:

Based on the Component Insights, the market is segmented into Equipment, Services.

  • The equipment segment is expected to witness the highest CAGR of 8.8% over the forecast period. The segment is further segmented into therapeutic, diagnostic, and mobility assistance.
  • The therapeutic segment is expected to hold the largest revenue share over the forecast period due to the rising prevalence of diseases that require frequent usage.
  • For instance, the usage of insulin delivery devices, home dialysis equipment, and intravenous pumps.
  • Diagnostics accounted for the largest market share of the overall home healthcare equipment market in 2021 and is expected to gain a lucrative share over the forecast period, owing to the increasing prevalence of diabetes and cardiovascular and cardiopulmonary diseases, growing patient awareness, increasing prevalence of long-term illnesses requiring frequent diagnosis, and high adoption of BP monitors and pregnancy and fertility tests.
  • With the increasing geriatric population, the demand for home healthcare services is rising in several countries. Service providers focus on covering the entire scope to deliver the best services to the geriatric population.
  • Individualized disease management programs are developed to address physical needs specific to Alzheimer’s disease and dementia (Memory Care Specialty Program) as well as manage symptoms related to heart diseases, focusing on pain control and quality of life (Cardiac Specialty Program). The market by services is segmented into skilled home care and unskilled home care.
  • Skilled home care services are provided by healthcare professionals. Unskilled home care services are provided for daily living aid to home-bound patients and are categorized as basic assistance care/personal care services. Skilled home healthcare services dominated the market in 2020 due to rising medical expenditure associated with hospital stays.

Home Healthcare Regional Outlook 

  • North America
  • Europe
  • Asia Pacific
  • Latin America
  • Middle East & Africa (MEA)

Key Companies Profile & Market Share Insights

The market is highly fragmented due to the presence of a large number of multinational as well as local market players. Moreover, the consolidation activities undertaken by multinational companies are estimated to increase competition amongst new and local market players.

Some prominent players in the global home healthcare market include

  • Manufactures
  • McKesson Medical-Surgical Inc.
  • Fresenius Medical Care
  • Medline Industries, Inc.
  • Medtronic PLC
  • 3M Healthcare
  • Baxter International Inc.
  • B. Braun Melsungen AG
  • Arkray, Inc.
  • F. Hoffmann-La Roche AG
  • Becton, Dickinson And Company
  • Acelity L.P.
  • Hollister Inc.
  • ConvaTec Group PLC
  • Molnlycke Health Care
  • Service Providers
    • Brookdale Senior Living, Inc.
    • Home Health Services Ltd.
    • Sunrise Carlisle, LP
    • Extendicare, Inc.
    • Care UK Limited
    • Senior Care Centers of America
    • Genesis Healthcare Corp.
    • Sompo Holdings, Inc.
    • Kindred Healthcare, Inc.
    • Home Instead Senior Care, Inc.

Order a free sample PDF of the Home Healthcare Market Intelligence Study, published by Grand View Research. 

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research Helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

Contact:

Sherry James

Corporate Sales Specialist, USA

Grand View Research, Inc.

Phone: 1-415-349-0058

Toll Free: 1-888-202-9519

Email: sales@grandviewresearch.com

Web: https://www.grandviewresearch.com

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