The global Home Healthcare Market is anticipated to rise at a higher CAGR during the forecast period. Home healthcare is a rapidly growing segment in the healthcare domain with a definite rise in market size and over 5+ million patients receiving home healthcare settings. Employment opportunities being relatively higher in this field also contributes to the market development.
The drivers for home healthcare market comprise features of home care services in the modern era and convenience for patients. Homecare services are less expensive and strongly convenient to patients with a desired effect. The treatment is subjective to nature of the disease that helps the patient to regain the health within a short time. Home healthcare services are likely to gain significant attention in the modern era due to availability of therapists, nurses and specialized doctors that work for home health agencies and public health departments.
Product segmentation for home healthcare industry includes diagnostic and therapeutic. Service segment for home healthcare market comprises respiratory therapy, rehabilitation, infusion therapy, skilled nursing, pregnancy care and palliative care. Software segment for home healthcare industry include hospice solutions, clinical management software and agency software.
Geographical segmentation for home healthcare market includes North America, South America, Europe, Asia-Pacific, Middle East and Africa. North American and European markets are likely to gain a significant CAGR during the forecast period due to rise in popularity and disposable income. The expensive nature of hospitals, rise in geriatric population, and variation in reimbursement policies is likely to propel the market growth during the forecast period.
Asia-Pacific's market is likely to have a significant attention due to rise in population and growing demands for medical safety. NGOs and government initiatives are contributing to strengthening of homecare services in the APAC sector. Apart, telecommunication services and online platforms are preferred outlets to gain access to the market.
The key players in the home healthcare industry include Sunrise Medical Inc, Almost Family Inc, B.Braun Melsungen AG, Abbott Laboratories, 3M Healthcare, Medtronic, Roche Diagnostics Corp, Air Liquide, Arcadia Healthcare, Bayer Ag, Amedisys Inc, Nxstage Medical Inc, Arkray Inc, Apria Healthcare Group, Odyssey Healthcare Inc, Becton Dickinson and Company, National Healthcare Corp, Critical Homecare, and Omron Healthcare Inc.
Home Healthcare Technology Outlook (Revenue, USD Million, 2014 - 2025)
• Mobility assist
• Rehabilitation services
• Unskilled home care
• Respiratory therapy services
• Infusion therapy services
Home Healthcare Regional Outlook (Revenue, USD Million, 2014 - 2025)
• North America
• Asia Pacific
• Latin America
• Middle East and Africa (MEA)
• South Africa
• Saudi Arabia
Research Support Specialist, USA