An upsurge in demand for telehealth systems, coupled with a rapid adoption rate of endless numbers of home healthcare systems globally amid the COVID-19 outbreak owing to lack of sufficient isolation wards & critical units.
Market Size – USD 280.76 Billion in 2019, Market Growth – CAGR of 11.6%, Market Trends – Increase in demand for the home healthcare solutions for geriatric & contagious diseases.
The Global Home Healthcare Market is forecast to reach USD 680.35 Billion by 2027. The global Home Healthcare market is currently observing a tremendous pace owing to the growing prevalence of the telehealth system, the rising cost of the hospital beds, unavailability of the ambulance service in rural or remote areas, availability of the skilled nursing care at home, and overall affection for the home healthcare systems compared to hospital admissions coupled with growing geriatric population, pediatric deformity, the proliferation of chronic diseases, and the rising rate of novel pandemics globally.
Tele-ICU has been one of the most trendy technology in the ICU management or critical care patient monitoring market, due to its cost-effective solutions against conventional 24/7 critical care team monitoring for a particular patient. Tele-ICU provides incessant technological advancements in centralized and remote patient monitoring through a number of hardware and software deployed in intensive care units. Incorporating a minimal amount of handy hardware can provide highly spontaneous solutions with advanced monitoring and alarming systems and reduce the burden of undergoing huge expenses of the critical care units, having treated the critical care patients right from their home.
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The report offers a comprehensive assessment of the competition in the Home Healthcare market with extensive profiling of the companies to offer a better understanding of the competitive landscape on a global and regional level. The top manufactures/companies are profiled along with their sales and revenue estimations, market size, market reach, market share, financial standing, product portfolio, business expansion plans and production and manufacturing capacity. It also covers recent mergers and acquisitions, joint ventures, collaborations, partnerships, agreements, and brand promotion and product launches among others in the market.
Top companies profiled in the report include:
McKesson Medical-Surgical Inc., Medline Industries, Inc., 3M Healthcare, Brookdale Senior Living, Inc., Home Health Services Ltd., Genesis Healthcare Corp., Home Instead Senior Care, Inc., Care UK Limited, Becton, Dickinson And Company, ConvaTec Group PLC, and Extendicare, Inc. among many others.
Further key findings from the report suggest
- The increasing popularity of the ambulatory care hospitals, which releases the patients right after the surgery and let the patients take necessary medication and treatments at home, are widely being preferred especially for its considerably low expenses.
- China and India are expected to witness a huge surge in this market, as the market value is expected to double itself in India shortly. As more number of elderly population is expected to be residing in China and Asia Pacific region by 2050 along with that increased healthcare spending and the government of India planning to increase public health spending 2.5% of GDP by 2025.
- Infectious Diseases sub-segment is observing the highest demand now owing to the COVID-19 cases diagnosed worldwide. This sub-segment is projected to grow at a CAGR of 19.4% throughout the forecast period.
- In February 2019, Philips partners with DispatchHealth to provide seniors in Arizona U.S. with on-demand care at home, expanding its geographical reach home health care solutions.
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The report also covers SWOT analysis and Porter’s Five Forces analysis along with feasibility analysis and investment return analysis. Key statistical data has been organized in tables, charts, diagrams, figures, and other pictorial representations. The report also offers strategic recommendations to established players as well as details on entry barriers for new entrants.
The report covers the Home Healthcare market on a global scale along with market breakdown into product types, applications, technology, end-user, and key regions.
Product Outlook (Revenue, USD Million; 2019-2027)
- Homecare Diagnostic
- Mobility Care
Software Outlook (Revenue, USD Million; 2019-2027)
- Agency Software
- Clinical Management Systems
- Hospice Solutions
Services Outlook (Revenue, USD Million; 2019-2027)
- Infusion Therapy
- Unskilled Care
- Respiratory Therapy
- Pregnancy Care
- Skilled Nursing
- Hospice & Palliative Care
Purposes Outlook (Revenue, USD Million; 2019-2027)
- Chronic Diseases
- Infectious Diseases
- Psychological Diseases
- Geriatric Diseases
- Pediatric Diseases
- Fertility Treatments & Pregnancy
- Intensive & Critical Care
- Injuries & Accidental Deformity
- Nutrition & General Consultancy
Types Outlook (Revenue, USD Million; 2019-2027)
- Home Healthcare Monitoring
- Home Healthcare Services
- Home Healthcare Software Solutions
Regional analysis covers:
- North America (U.S.A., Canada, Mexico)
- Europe (U.K., Italy, Germany, France, Rest of EU)
- Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
- Latin America (Chile, Brazil, Argentina, Rest of Latin America)
- Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
The study also analyses the market share, growth forecast and rate, current and future trends, market drivers and restraints, opportunities and challenges, risks, and threats. The report also covers a comprehensive analysis of the changing market dynamics and offers a futuristic outlook of industry.
Key Benefits of the Global Home Healthcare Report:
- Comprehensive analysis of the changing competitive landscape
- The report offers an 8 year forecast and assessment of the Global Home Healthcare Market
- Helps in understanding the key product segments and their estimated growth rate and key factors influencing market growth
- In-depth analysis of market drivers, restraints, trends, and opportunities
- Comprehensive regional analysis of the Global Home Healthcare Market
- Detailed analysis of the factors influencing the growth of the Global Home Healthcare Market
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