Global Home Healthcare Market 2017-2021
About Home Healthcare
Home healthcare refers to home-based healthcare services provided to users at the convenience of their homes. The integration of products and services and technological advances in home healthcare are driving the growth of the global home healthcare market. However, the lack of trained home HCPs and structured insurance policies and reimbursements could affect the growth of the market during the forecast period.
Technavio’s analysts forecast the global home healthcare market to grow at a CAGR of 8.78% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global home healthcare market for 2017-2021. The report presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Home Healthcare Market 2017-2021
Technavio recognizes the following companies as the key players in the global home healthcare market: Abbott, Johnson & Johnson, Omron Healthcare, and Koninklijke Philips.
Other Prominent Vendors in the market are: A&D Medical, Addus HomeCare, Almost Family Inc., amedisys, Apria Healthcare Group, Briggs Healthcare, BD, eCaring, Exergen, Gentiva Health Service, HCR Manorcare, Hospira, IHHC, Interim Healthcare, Kindred Healthcare, LHC Group, Linde Group, Nightingales Home Healthcare Services, NX Stage, Roche Holdings, Prism Medical, Portea Medicals, Fresenius Medical Care, Smiths Medical, Sutter Care at Home, B.Braun Melsungen, and 3M Healthcare.
Commenting on the report, an analyst from Technavio’s team said: “One trend in the market is expansion and growth of several healthcare domains. Healthcare facilities are undergoing a paradigm shift to become patient-centric service providers. There are several notable changes such as the entry of new vendors, the development of new treatment therapies and techniques, improvements in infrastructure, and the availability of skilled professionals.”
According to the report, one driver in the market is growing demand for home healthcare from aging population. The aging population is prone to acquire acute diseases due to low immunity. Hypertension, heart diseases, diabetes, chronic obstructive pulmonary disease (COPD), osteoarthritis, malignant neoplasm, dementia, and cerebrovascular diseases are common among the aging population. To reduce the prevalence of these diseases, the aging population adopts home healthcare. They require products, services, and solutions.
Further, the report states that one challenge in the market is lack of home HCPs. The global home healthcare market is expected to grow at a CAGR of 8.78% during the forecast period. However, there is a supply-demand gap between the number of home HCPs and patients. This supply-demand gap is due to the lack of skilled home HCPs and developed facilities. In 2013, globally, there was a lack of over 7.5 million HCPs. The number is expected to reach 13.5 million-14 million by 2035. Out of this, approximately 38% will be for home HCPs. These HCPs include doctors, surgeons, healthcare specialists and consultants, nurses, and other caregivers.
Abbott, Johnson & Johnson, Omron Healthcare, Koninklijke Philips, A&D Medical, Addus HomeCare, Almost Family Inc., amedisys, Apria Healthcare Group, Briggs Healthcare, BD, eCaring, Exergen, Gentiva Health Service, HCR Manorcare, Hospira, IHHC, Interim Healthcare, Kindred Healthcare, LHC Group, Linde Group, Nightingales Home Healthcare Services, NX Stage, Roche Holdings, Prism Medical, Portea Medicals, Fresenius Medical Care, Smiths Medical, Sutter Care at Home, B.Braun Melsungen, and 3M Healthcare.
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