Home Healthcare Market Insights, Business Revenue Forecast and Future Plans 2030
The home healthcare market size is projected to reach USD 568 billion by 2030 at CAGR of 6.3% during the forecast period 2022-2030. As per market analysts, the global market is anticipated to witness growth owing to the factors such as technological advances in healthcare and diagnosis equipment as well as government initiatives encouraging home healthcare. However, the market will face challenges and restraints due to concerns regarding patient safety and increasing healthcare costs during the forecast period 2022 to 2030.
Drivers and Restrains Impacting Home Healthcare Market
The rise of the global home healthcare market is can be attributed to factors, such as; adoption of advanced technology in healthcare and diagnosis equipment and introduction of initiatives by governments to encourage home healthcare solutions. On the contrary, the home healthcare market is anticipated to face challenges and restraints owing to rising about patient safety and high healthcare costs. However, the expansion of the geriatric population in can support the market rise in years to come.
Competitive Landscape of Home Healthcare Market
Some reputed companies that are functioning in the home healthcare market include Abbott (U.S.), Koninklijke Philips N.V. (The Netherlands), Fresenius SE & Co KGaA (Germany), F. Hoffmann-La Roche AG (Switzerland), GE Healthcare (U.S.), A&D Company (Japan), B. Braun Melsungen AG (Germany), McKesson Corporation (U.S.), Omron Corporation (Japan), Becton Dickinson Company (U.S.), LG Electronics (South Korea), Medtronic PLC (U.S.), Apple (U.S.), Kinnser Software (U.S.), and 3M (U.S.) and others. Eminent players are engaged in launching new products and entering partnerships in the global market and to expand their consumer base.
By region, the home healthcare market report covers the latest trends and growth opportunities across North America, Europe, the Asia Pacific (APAC), and the Middle East and Africa (MEA). Of these, North America will have the lion’s share in the market during the forecast period. Numerous factors are propelling the growth of the home healthcare market in the region, such as the presence of many leading players, growing awareness about the benefits of home healthcare services, increasing healthcare expenditures, and rising geriatric population.
The global home healthcare market in Europe will have the second-largest share in the market over the forecast period. Numerous factors are propelling the growth of the home healthcare market in the region, such as the presence of some leading players and a well-established healthcare sector, increasing healthcare expenditures, the resurging economy, advanced technologies, and funding support for research and development activities.
The global home healthcare market in the Asia Pacific region will grow at the fastest pace during the forecast period. Numerous factors are propelling the growth of the home healthcare market in the region, such as increasing awareness about the benefits of home healthcare services, increasing geriatric populace, and the rapid growth of the healthcare sector in China as well as India.
Segment Analysis of Home Healthcare Market
The home healthcare market Insights segment study is based on product, software, and service.
By products, the segments of the home healthcare market study are screening, therapeutic and testing, and monitoring products. The segment of therapeutic and testing is sub-segmented into respiratory therapy equipment, dialysis equipment, insulin delivery devices, IV equipment, and wound care products among others. The segment of monitoring products is sub-segmented into event monitors, holter, sleep apnea monitors, pulse oximeters & heart rate monitors, blood pressure monitors, blood glucose monitors, and cholesterol monitoring devices among others.
By software, the home healthcare market study is segmented into hospice solutions, agency software, telehealth solution, and clinical management systems. The telehealth solution segment can rise at high growth pace over the years to come.
By services, the global home healthcare market is segmented into unskilled care services, skilled nursing services, rehabilitation therapy services, respiratory therapy services, infusion pregnancy care services, and therapy services. The expansion of the respiratory therapy services to support market.
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