Home Healthcare Market by Component (Services, Solution), Product (Home Healthcare Mobility Care Products, Testing, Screening, & Monitoring Products, Therapeutic Products) - Global Forecast 2024-2030
Description
Home Healthcare Market by Component (Services, Solution), Product (Home Healthcare Mobility Care Products, Testing, Screening, & Monitoring Products, Therapeutic Products) - Global Forecast 2024-2030
The Home Healthcare Market size was estimated at USD 30.80 billion in 2023 and expected to reach USD 33.39 billion in 2024, at a CAGR 8.49% to reach USD 54.51 billion by 2030.
Home healthcare contains a wide range of medical, therapeutic, and supportive services that can be delivered in the comfort of a patient's home. The home healthcare market comprises services and products designed to support medical care in a patient's home. This may include professional healthcare services such as nursing, physical therapy, home health aide, medical equipment, and supplies. It targets patients who require regular medical attention, prefer the convenience of their homes, or need long-term care for chronic conditions. The significant increase in incidence of chronic diseases, increasing healthcare costs are creating the need for home healthcare. Moreover, technological advancements in home-aided healthcare and government initiatives promoting home healthcare also fuel market development. Limitations associated with insurance coverage, reimbursement policies, and limited availability of home care workers can pose challenging market growth. Rising adoption of telemedicine and telehealth and emerging home healthcare services in developing economies are expected to create opportunities for market expansion.
Regional Insights
In the Americas, particularly the United States and Canada, the home healthcare field is well-established and supported by strong infrastructure and reimbursement policies. The presence of private insurers also adds to the diversity of reimbursement options. The market is driven by technological advancements, such as telemedicine, remote monitoring, and mobile health applications, which facilitate more effective patient care at home. South America is experiencing a period of growth due to an aging population, the rising prevalence of chronic diseases, and a growing preference for home healthcare services over traditional hospital care. In Europe, countries such as Germany, the U.K., and France have robust healthcare systems with favorable reimbursement scenarios, contributing to the growth of the home healthcare market. The Middle East shows promising growth due to increasing healthcare expenditure and government initiatives, while Africa remains an underdeveloped market with significant potential for improvement. The region is characterized by increased adoption of home healthcare due to its cost-effectiveness and patient-centric approaches. The APAC region, with countries such as Japan, China, and India, is experiencing rapid transition in the home healthcare market, primarily driven by its large aging population and rising prevalence of chronic conditions. Emerging economies in the region face challenges such as lower healthcare spending and underdeveloped healthcare infrastructure, partially offset by growing investments and government initiatives. The adoption of home healthcare technologies is increasing but at a slower rate compared to the Americas.
Market Insights
- Market Dynamics
The market dynamics represent an ever-changing landscape of the Home Healthcare Market by providing actionable insights into factors, including supply and demand levels. Accounting for these factors helps design strategies, make investments, and formulate developments to capitalize on future opportunities. In addition, these factors assist in avoiding potential pitfalls related to political, geographical, technical, social, and economic conditions, highlighting consumer behaviors and influencing manufacturing costs and purchasing decisions.- Market Drivers
- Growing Incidence of Chronic Diseases and Increasing Healthcare Costs
- Technology Advancements in Home-Aided Healthcare
- Government Initiatives Promoting Home Healthcare
- Market Restraints
- Limitation Associated with the Insurance Coverage and the Reimbursement Policies
- Market Opportunities
- Rising Adoption of Telemedicine and Telehealth
- Emerging Home Healthcare Services in the Developing Economies
- Market Challenges
- Limited Availability of Home Care Workers
- Market Segmentation Analysis
- Component: Rising demand for solutions to enable, enhance, or deliver home healthcare services
- Product: Growing popularity of wearable technology and remote monitoring devices for patients convenience and real-time data tracking
- Market Disruption Analysis
- Porter’s Five Forces Analysis
- Value Chain & Critical Path Analysis
- Pricing Analysis
- Technology Analysis
- Patent Analysis
- Trade Analysis
- Regulatory Framework Analysis
The FPNV positioning matrix is essential in evaluating the market positioning of the vendors in the Home Healthcare Market. This matrix offers a comprehensive assessment of vendors, examining critical metrics related to business strategy and product satisfaction. This in-depth assessment empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success, namely Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The market share analysis is a comprehensive tool that provides an insightful and in-depth assessment of the current state of vendors in the Home Healthcare Market. By meticulously comparing and analyzing vendor contributions, companies are offered a greater understanding of their performance and the challenges they face when competing for market share. These contributions include overall revenue, customer base, and other vital metrics. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With these illustrative details, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Recent Developments- Care Advantage Acquires Nova Home Health Care
Care Advantage acquired Nova Home Health Care to deepen its engagement within the region's culturally rich communities, offering personal and home healthcare services to a broad Medicaid population. Focused on continuing a robust growth strategy, Care Advantage anticipates further mergers and acquisitions as a critical means to extend market reach and bolster its service spectrum.
VERTESS Announces Acquisition of Apple Homecare Medical Supply by Pediatric Home Service
Pediatric Home Respiratory Services, LLC (PHS) expanded its operational reach by acquiring Apple Homecare Medical Supply, Inc., a pediatric respiratory and enteral supply company in Texas. Facilitated by VERTESS, a premier healthcare Mergers + Acquisitions advisory firm, this transaction aligns with PHS's commitment to enhancing the quality of life for children with complex medical needs. This acquisition marks a significant milestone for PHS, propelling the organization's vision as a Pediatric Center of Excellence geared towards nurturing children's lives at home and within their communities.
CVS Pharmacy Develops Innovative, Modern Line of Home Health Care Products
CVS Pharmacy, a subsidiary of CVS Health, introduced six sophisticated home health care products under their exclusive CVS Health line. By reimagining everyday health aids, CVS Pharmacy renews its commitment to delivering personalized healthcare experiences while expanding its Store Brands portfolio to include premium, cost-effective options that significantly enhance quality of life.
The strategic analysis is essential for organizations seeking a solid foothold in the global marketplace. Companies are better positioned to make informed decisions that align with their long-term aspirations by thoroughly evaluating their current standing in the Home Healthcare Market. This critical assessment involves a thorough analysis of the organization’s resources, capabilities, and overall performance to identify its core strengths and areas for improvement.
Key Company Profiles
The report delves into recent significant developments in the Home Healthcare Market, highlighting leading vendors and their innovative profiles. These include A&D Company, Limited, Abbott Laboratories, B. Braun SE, Baxter International Inc., Bayada Home Health Care, Becton, Dickinson and Company, Cardinal Health Inc., Caremax Rehabilitation Equipment Co., Ltd., Contec Medical Systems Co., Ltd., Drive Devilbiss Healthcare, F. Hoffmann-La Roche AG, Fresenius Medical Care AG & Co. KGaA, GE HealthCare Technologies Inc., Hamilton Medical AG, Invacare Corporation, Johnson & Johnson Services, Inc., Koninklijke Philips N.V., Lifepoint Health, Inc., Linde PLC, Löwenstein Medical Technology GmbH + Co. KG., Medline Industries, LP, Medtronic PLC, Omron Corporation, RENAFAN GmbH, Roma Medical Aids Limited, Skylight Health Group, Sunrise Medical, Inc., UnitedHealth Group, and Vitalograph Limited.
Market Segmentation & Coverage
This research report categorizes the Home Healthcare Market to forecast the revenues and analyze trends in each of the following sub-markets:- Component
- Services
- Hospice & Palliative Care Services
- Infusion Therapy Services
- Pregnancy Care Services
- Rehabilitation Therapy Services
- Respiratory Therapy Services
- Skilled Nursing Services
- Unskilled Care Services
- Solution
- Agency Software
- Clinical Management Systems
- Hospice Solutions
- Telehealthcare Solutions
- Product
- Home Healthcare Mobility Care Products
- Canes
- Crutches
- Mobility Scooters
- Walkers & Rollators
- Wheelchairs
- Testing, Screening, & Monitoring Products
- Blood Glucose Monitors
- Blood Pressure Monitors
- Drug & Alcohol Test Kits
- ECG/EKG Devices
- EEG Devices
- Heart Rate Monitors
- HIV Test Kits
- Ovulation & Pregnancy Test Kits
- Pedometers & Pulse Oximeters
- Sleep Apnea Monitors
- Temperature Monitors
- Therapeutic Products
- Dialysis Equipment
- Inhalers
- Insulin Delivery Devices
- IV Equipment
- Nebulizers
- Oxygen Delivery Systems
- Sleep Apnea Therapeutic Devices
- Ventilators
- Wound Care Products
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
Please Note: PDF & Excel + Online Access - 1 Year
- Americas
- Home Healthcare Mobility Care Products
- Services
- Market Drivers
Table of Contents
195 Pages
- 1. Preface
- 1.1. Objectives of the Study
- 1.2. Market Segmentation & Coverage
- 1.3. Years Considered for the Study
- 1.4. Currency & Pricing
- 1.5. Language
- 1.6. Stakeholders
- 2. Research Methodology
- 2.1. Define: Research Objective
- 2.2. Determine: Research Design
- 2.3. Prepare: Research Instrument
- 2.4. Collect: Data Source
- 2.5. Analyze: Data Interpretation
- 2.6. Formulate: Data Verification
- 2.7. Publish: Research Report
- 2.8. Repeat: Report Update
- 3. Executive Summary
- 4. Market Overview
- 5. Market Insights
- 5.1. Market Dynamics
- 5.1.1. Drivers
- 5.1.1.1. Growing Incidence of Chronic Diseases and Increasing Healthcare Costs
- 5.1.1.2. Technology Advancements in Home-Aided Healthcare
- 5.1.1.3. Government Initiatives Promoting Home Healthcare
- 5.1.2. Restraints
- 5.1.2.1. Limitation Associated with the Insurance Coverage and the Reimbursement Policies
- 5.1.3. Opportunities
- 5.1.3.1. Rising Adoption of Telemedicine and Telehealth
- 5.1.3.2. Emerging Home Healthcare Services in the Developing Economies
- 5.1.4. Challenges
- 5.1.4.1. Limited Availability of Home Care Workers
- 5.2. Market Segmentation Analysis
- 5.2.1. Component: Rising demand for solutions to enable, enhance, or deliver home healthcare services
- 5.2.2. Product: Growing popularity of wearable technology and remote monitoring devices for patients convenience and real-time data tracking
- 5.3. Market Trend Analysis
- 5.4. Cumulative Impact of Russia-Ukraine Conflict
- 5.5. Cumulative Impact of High Inflation
- 5.6. Porter’s Five Forces Analysis
- 5.6.1. Threat of New Entrants
- 5.6.2. Threat of Substitutes
- 5.6.3. Bargaining Power of Customers
- 5.6.4. Bargaining Power of Suppliers
- 5.6.5. Industry Rivalry
- 5.7. Value Chain & Critical Path Analysis
- 5.8. Regulatory Framework Analysis
- 5.9. Client Customization
- 6. Home Healthcare Market, by Component
- 6.1. Introduction
- 6.2. Services
- 6.3. Solution
- 7. Home Healthcare Market, by Product
- 7.1. Introduction
- 7.2. Home Healthcare Mobility Care Products
- 7.3. Testing, Screening, & Monitoring Products
- 7.4. Therapeutic Products
- 8. Americas Home Healthcare Market
- 8.1. Introduction
- 8.2. Argentina
- 8.3. Brazil
- 8.4. Canada
- 8.5. Mexico
- 8.6. United States
- 9. Asia-Pacific Home Healthcare Market
- 9.1. Introduction
- 9.2. Australia
- 9.3. China
- 9.4. India
- 9.5. Indonesia
- 9.6. Japan
- 9.7. Malaysia
- 9.8. Philippines
- 9.9. Singapore
- 9.10. South Korea
- 9.11. Taiwan
- 9.12. Thailand
- 9.13. Vietnam
- 10. Europe, Middle East & Africa Home Healthcare Market
- 10.1. Introduction
- 10.2. Denmark
- 10.3. Egypt
- 10.4. Finland
- 10.5. France
- 10.6. Germany
- 10.7. Israel
- 10.8. Italy
- 10.9. Netherlands
- 10.10. Nigeria
- 10.11. Norway
- 10.12. Poland
- 10.13. Qatar
- 10.14. Russia
- 10.15. Saudi Arabia
- 10.16. South Africa
- 10.17. Spain
- 10.18. Sweden
- 10.19. Switzerland
- 10.20. Turkey
- 10.21. United Arab Emirates
- 10.22. United Kingdom
- 11. Competitive Landscape
- 11.1. Market Share Analysis, 2023
- 11.2. FPNV Positioning Matrix, 2023
- 11.3. Competitive Scenario Analysis
- 11.3.1. Care Advantage Acquires Nova Home Health Care
- 11.3.2. VERTESS Announces Acquisition of Apple Homecare Medical Supply by Pediatric Home Service
- 11.3.3. CVS Pharmacy Develops Innovative, Modern Line of Home Health Care Products
- 12. Competitive Portfolio
- 12.1. Key Company Profiles
- 12.2. Key Product Portfolio
Pricing
Currency Rates
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