The global home healthcare market size is expected to be worth around US$ 705.1 billion by 2030, according to a new report by Vision Research Reports.
The global home healthcare market size was valued at US$ 350.0 billion in 2020 and is anticipated to grow at a CAGR of 11.8% during forecast period 2021 to 2030.
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Home Healthcare Market (By Component: Equipment, Services) – Global Industry Analysis, Size, Share, Growth, Trends, Revenue, Regional Outlook 2021 – 2030
|Market Size||USD 705.1 billion by 2030|
|Growth Rate||CAGR of 11.8% From 2021 to 2030|
|Historic Data||2017 to 2020|
|Forecast Period||2021 to 2030|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa|
|Companies Mentioned||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; Brookdale Senior Living, Inc.; Home Health Services Ltd.; Sunrise Carlisle, LP; Extendicare, Inc.; Care U.K. Limited; Senior Care Centers of America; Genesis Healthcare Corp.; Sompo Holdings, Inc.; Kindred Healthcare, Inc.; and Home Instead Senior Care, Inc.|
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. The growing geriatric population and rising incidence of target diseases, such as dementia and Alzheimer’s, as well as orthopedic diseases are factors expected to fuel the market growth. Increasing treatment cost is one of the prime concerns for governments and health organizations, and hence they are striving to curb healthcare costs.
The services segment led the market with a revenue share of over 94% in 2020. The equipment segment, on the other hand, is estimated to register the fastest CAGR from 201 to 2028. The market by services is segmented into skilled home care and unskilled home care. The home healthcare equipment market is segmented into three major categories; diagnostic, therapeutic, and mobility assist. The therapeutic segment led the market in 2020 and will expand further at a steady CAGR over the forecast period.
Diagnostics accounted for approximately 39% of the overall home healthcare equipment market in 2020. It is expected to gain a lucrative share over the forecast period. North America accounted for the highest revenue share of 52.92% in 2020. The presence of a large geriatric population in this region, sophisticated healthcare infrastructure, and relatively higher disposable income levels are some of the key factors driving the growth.
Asia Pacific is estimated to be the fastest-growing regional market. Factors, such as underdeveloped healthcare infrastructure, expensive in-hospital healthcare facilities, and chronic diseases that require long-term care, are resulting in increasing adoption of home healthcare products and services.
- 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 U.K. Limited
- Senior Care Centers of America
- Genesis Healthcare Corp.
- Sompo Holdings, Inc.
- Kindred Healthcare, Inc.
- Home Instead Senior Care, Inc.
- Home Respiratory Therapy Equipment
- Insulin Delivery Devices
- Home IV Pumps
- Home Dialysis Equipment
- Diabetic Care Unit
- BP Monitors
- Multi Para Diagnostic Monitors
- Home Pregnancy & Fertility Kits
- Apnea & Sleep Monitors
- Holter Monitors
- Heart Rate Monitors
- Mobility Assist
- Home Medical Furniture
- Walking Assist Devices
- Skilled Home Healthcare Services
- Physician Primary Care
- Nursing Care
- Physical/Occupational/Speech Therapy
- Nutritional Support
- Hospice & Palliative Care
- Unskilled Home Healthcare Services
- Skilled Home Healthcare Services
- North America
- Asia Pacific
- The Netherlands
- South Korea
- Latin America
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- North America
The study objectives of this report are:
- To analyze and study the global market capacity, production, value, consumption, status (2017-2020) and forecast (2021-2030);
- Focuses on the key manufacturers, to study the capacity, production, value, market share and development plans in future.
- Comprehensive company profiles covering the product offerings, key financial information, recent developments, SWOT analysis, and strategies employed by the major market players
- To define, describe and forecast the market by type, application and region.
- To analyze the global and key regions market potential and advantage, opportunity and challenge, restraints and risks.
- To identify significant trends and factors driving or inhibiting the market growth.
- To analyze the opportunities in the market for stakeholders by identifying the high growth segments.
- To strategically analyze each submarket with respect to individual growth trend and their contribution to the market
- To analyze competitive developments such as expansions, agreements, new product launches, and acquisitions in the market
- To strategically profile the key players and comprehensively analyze their growth strategies.
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