The global Home healthcare market accounted for USD 370.7 Billion in 2020 and is expected to reach USD 839.0 Billion by 2028, growing at a CAGR of around 10.1% between 2021 and 2028.
The global Home healthcare Market accounted for USD 370.7 Billion in 2020 and is expected to reach USD 839.0 Billion by 2028, growing at a CAGR of around 10.1% between 2021 and 2028.
Home health care is a diversified industry that includes home nursing care, infusion services, companion care, and others. Home healthcare is particularly referred to as home medical care. Home health care generally involves helping geriatric people to recover from an illness or injury and live independently for as long as possible. Home health care includes occupational & physical therapy, speech therapy, and skilled nursing. It may involve helping older adults with activities of daily living, like bathing, dressing, and eating. It can also include assistance with cooking, cleaning, other housekeeping, and monitoring one’s medication routine.
The global Home healthcare market has witnessed significant growth during the pandemic. This is mainly attributed to the fact that the COVID-19 pandemic situation has led to the shortage of hospital beds, oxygen, medicines, and medical equipment, following the exponential rise in covid-19 cases. Hence, a rising number of private sector hospital chains are rapidly starting to provide home healthcare facilities, especially for covid-19 patients.
The market would remain bullish in the upcoming year. The significant increase in the global Home healthcare market size in 2020 is estimated on the basis of the COVID-19 outbreak. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.
The global home healthcare market is mainly driven by the increasing geriatric population, rising healthcare costs, and technological advancements in healthcare devices. With increasing health awareness among people, and an increase in the number of people diagnosed with chronic diseases such as diabetes cardiac disorders, and respiratory diseases, the demand for the home healthcare market is expected to grow in the near future. The population of geriatric people is growing rapidly across the world. The geriatric population is more vulnerable to chronic diseases such as diabetes. This, in turn, is expected to fuel the growth of the home healthcare market. However, changing reimbursement policies and limited insurance coverage may pose a challenge to the home healthcare market growth in the near future. Rapid job growth in home healthcare services is expected open alluring avenues for market growth over the next few years.
Report Attribute | Details |
---|---|
Base Year | 2020 |
Historic Years | 2016 - 2020 |
Forecast Years | 2021 - 2028 |
Segments Covered | By Product Type, By Application, and By End Use |
Forecast Units | Value (USD Billion), and Volume (Units) |
Quantitative Units | Revenue in USD million/billion and CAGR from 2021 to 2028 |
Regions Covered | North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, and Rest of World |
Countries Covered | U.S., Canada, Mexico, U.K., Germany, France, Italy, Spain, China, India, Japan, South Korea, Brazil, Argentina, GCC Countries, and South Africa, among others |
Number of Companies Covered | 10 companies with scope for including additional 15 companies upon request |
Report Coverage | Market growth drivers, restraints, opportunities, Porter’s five forces analysis, PEST analysis, value chain analysis, regulatory landscape, market attractiveness analysis by segments and region, company market share analysis, and COVID-19 impact analysis. |
Customization Scope | Avail customized purchase options to meet your exact research needs. |
Based on product segments, the home healthcare market has been segmented into diagnostics and monitoring home devices, therapeutics home healthcare devices, medical supplies, and home mobility assists devices. Diagnostic and monitoring devices include blood pressure monitors, pregnancy test kits, heart rate monitors, temperature monitors, and others. In 2020, diagnostic and monitoring devices were the major segment of the global home healthcare market in terms of revenue and are expected to continue their dominance in the global market over the forecast period. The medical supplies product segment was the second largest segment of home healthcare and constituted a 27.89% share of the global demand in 2020. Further, it is expected to grow at the fastest pace in the forecast period. Conversely, the home mobility assistive devices product segment held a smaller share of the global home healthcare market in 2020.
Rehabilitation services, telehealth and telemedicine services, infusion therapy services, respiratory therapy services, and unskilled home healthcare services are the key services of the home healthcare market. The rehabilitation services segment dominated the home healthcare market with the largest share in terms of total revenue generated in 2020. This was mainly due to increased demand from the geriatric or aging population.
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North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa are key regional markets for the home healthcare market. North America acquired the majority of share home healthcare market in 2020 and accounted for 41.05% of the overall market. North America is followed by Europe and Asia-Pacific in terms of demand for home healthcare. In terms of revenue, Asia Pacific was predicted to be the fastest-growing region in the forecast period. Increasing investments in the healthcare sector by the European government supports the growth of the home healthcare market in this region.
Some of the major players in the global home healthcare market include 3M Health Care, Bayer AG, Abbott Laboratories, Cardinal Health, Inc., GE Healthcare, Johnson & Johnson Services, Inc., Gentiva Health Services, Inc., Invacare Corporation, F. Hoffmann-La Roche Ltd., Phillips Healthcare, Medtronic, Inc. and Omron Healthcare, Inc. among others.
The global Home Healthcare Market is segmented as follows:
List of Figures
FIG NO. 1. Market Attractiveness Analysis, By Product
FIG NO. 2. Market Attractiveness Analysis, By Services
FIG NO. 3. Market Attractiveness Analysis, By Region
FIG NO. 4. Global Home healthcare Market Revenue, 2016 – 2028 (USD Billion)
FIG NO. 5. Impact of COVID-19 Pandemic in North America Countries
FIG NO. 6. Market Revenue Share, By Product, 2020 & 2028
FIG NO. 7. Global Home healthcare Market for Diagnostics and monitoring home devices, Revenue (USD Billion) 2016 – 2028
FIG NO. 8. Comparative Revenue Analysis of Home healthcare Market for Diagnostics and monitoring home devices, By Country, 2020 & 2028
FIG NO. 9. Global Home healthcare Market for Therapeutics home healthcare devices, Revenue (USD Billion) 2016 – 2028
FIG NO. 10. Comparative Revenue Analysis of Home healthcare Market for Therapeutics home healthcare devices, By Country, 2020 & 2028
FIG NO. 11. Global Home healthcare Market for Home mobility assist devices, Revenue (USD Billion) 2016 – 2028
FIG NO. 12. Comparative Revenue Analysis of Home healthcare Market for Home mobility assist devices, By Country, 2020 & 2028
FIG NO. 13. Global Home healthcare Market for Medical supplies, Revenue (USD Billion) 2016 – 2028
FIG NO. 14. Comparative Revenue Analysis of Home healthcare Market for Medical supplies, By Country, 2020 & 2028
FIG NO. 15. Market Revenue Share, By Services, 2020 & 2028
FIG NO. 16. Global Home healthcare Market for Rehabilitation services, Revenue (USD Billion) 2016 – 2028
FIG NO. 17. Comparative Revenue Analysis of Home healthcare Market for Rehabilitation services, By Country, 2020 & 2028
FIG NO. 18. Global Home healthcare Market for Telehealth and telemedicine services, Revenue (USD Billion) 2016 – 2028
FIG NO. 19. Comparative Revenue Analysis of Home healthcare Market for Telehealth and telemedicine services, By Country, 2020 & 2028
FIG NO. 20. Global Home healthcare Market for Infusion therapy services, Revenue (USD Billion) 2016 – 2028
FIG NO. 21. Comparative Revenue Analysis of Home healthcare Market for Infusion therapy services, By Country, 2020 & 2028
FIG NO. 22. Global Home healthcare Market for Respiratory therapy services, Revenue (USD Billion) 2016 – 2028
FIG NO. 23. Comparative Revenue Analysis of Home healthcare Market for Respiratory therapy services, By Country, 2020 & 2028
FIG NO. 24. Global Home healthcare Market for Unskilled home healthcare services, Revenue (USD Billion) 2016 – 2028
FIG NO. 25. Comparative Revenue Analysis of Home healthcare Market for Unskilled home healthcare services, By Country, 2020 & 2028
FIG NO. 26. Global Home healthcare Market Revenue Share, By Region, 2020 & 2028
FIG NO. 27. North America Home healthcare Market Revenue, 2016 - 2028 (USD Billion)
FIG NO. 28. Porter’s Five Forces Analysis for Global Home healthcare Market
FIG NO. 29. PEST Analysis for Global Home healthcare Market
FIG NO. 30. Pricing Analysis for Global Home healthcare Market
FIG NO. 31. Value Chain Analysis for Global Home healthcare Market
FIG NO. 32. Company Share Analysis, 2019
FIG NO. 33. Radar Determinant Chart, 2019
FIG NO. 34. Company Strategic Developments – Heat Map Analysis
FIG NO. 35. 3M Health Care Business Segment Revenue Share, 2020 (%)
FIG NO. 36. 3M Health Care Geographical Segment Revenue Share, 2020 (%)
FIG NO. 37. Market Channels
FIG NO. 38. Marketing Channel Development Trend
FIG NO. 39. Growth in World Gross Product, 2008-2018
FIG NO. 40. Research Methodology – Detailed View
FIG NO. 41. Research Methodology
List of Tables
TABLE NO. 1. Global Home healthcare Market: Snapshot
TABLE NO. 2. Quarterly Home healthcare Market Revenue by Region, 2020
TABLE NO. 3. Quarterly Home healthcare Market Revenue Forecast by Region, 2021
TABLE NO. 4. Pre COVID-19 Market Revenue, By Region, 2016-2019 (USD Billion)
TABLE NO. 5. Post COVID-19 Market Revenue, By Region, 2020-2028 (USD Billion)
TABLE NO. 6. Global Home healthcare Market for Diagnostics and monitoring home devices, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 7. Global Home healthcare Market for Therapeutics home healthcare devices, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 8. Global Home healthcare Market for Home mobility assist devices, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 9. Global Home healthcare Market for Medical supplies, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 10. Global Home healthcare Market for Rehabilitation services, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 11 Global Home healthcare Market for Telehealth and telemedicine services, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 12. Global Home healthcare Market for Infusion therapy services, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 13. Global Home healthcare Market for Respiratory therapy services, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 14. Global Home healthcare Market for Unskilled home healthcare services, by Region, 2016 – 2028 (USD Billion)
TABLE NO. 15. Global Home healthcare Market Revenue, By Region, 2016 – 2028 (USD Billion)
TABLE NO. 16. North America Home healthcare Market Revenue, By Country, 2016 – 2028 (USD Billion)
TABLE NO. 17. North America Home healthcare Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 18. North America Home healthcare Market Revenue, By Services, 2016 – 2028 (USD Billion)
TABLE NO. 19. U.S. Home healthcare Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 20. U.S. Home healthcare Market Revenue, By Services, 2016 – 2028 (USD Billion)
TABLE NO. 21. Canada Home healthcare Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 22. Canada Home healthcare Market Revenue, By Services, 2016 – 2028 (USD Billion)
TABLE NO. 23. Mexico Home healthcare Market Revenue, By Product, 2016 – 2028 (USD Billion)
TABLE NO. 24. Mexico Home healthcare Market Revenue, By Services, 2016 – 2028 (USD Billion)
TABLE NO. 25. Drivers for the Home healthcare Market: Impact Analysis
TABLE NO. 26. Restraints for the Home healthcare Market: Impact Analysis
TABLE NO. 27. Major Buyers of Home healthcare
TABLE NO. 28. Distributors/Traders List of Home healthcare
TABLE NO. 29. Global Home healthcare Market, Company Market Revenue, 2016 – 2019 (USD Billion)
TABLE NO. 30: Global Home healthcare Market, Company Y-o-Y Growth, 2017 – 2019 (USD Billion)
This report is based on in-depth qualitative and quantitative analyses of the global Home Healthcare market. Zion Research has collected and analyzed key data belong to the global Home Healthcare market using a variety of methods. Quantitative analysis has been done following various projection and sampling techniques.
The qualitative analysis involved primary interviews, surveys, and vendor briefings. The data gathered as a result of these processes were validated through experts' opinions. The market dynamics have been determined afterconducting a detailed study of the micro and macroeconomic indicators of the market.
Various parameters have been taken into account, while estimating market size. The revenue generated by the leading industry participants in from the sales of Home Healthcare across the world has been calculated through primary and secondary research.
Zion Research employs combination of secondary research followed by extensive primary research. Under secondary research, we refer to prominent paid as well as open access data sources including product literature, company annual reports, government publications, press releases, industry association’s magazines and other relevant sources for data collection. Other prominent secondary sources include, STATISTA, trade journals, trade associations, statistical data from government websites, etc.
For this study, Zion Research has conducted all-encompassing primary research with key industry participants to collect first had data. Moreover, in-depth interviews with key opinion leaders also assistedin validation of findings from secondary research and to understand key trends in the Home Healthcare industry. Primary research makes up major source of data collection and validation.
Primary Research
We conduct primary interviews with industry participants and commentators on an ongoing basis to validate data and analysis. A typical research interview fulfills the following functions:
Participants who typically participate in such a process include, but are not limited to:
Key opinion leaders specializing in different areas corresponding to different industry verticals
Secondary Research
Secondary research sources that are typically referred to include, but are not limited to:
News articles, press releases and webcasts specific to companies operating in the market
Following a comprehensive secondary and primary research and insights thus gathered, analysts at Zion Research have provided an in-depth analysis of various aspects of the Home Healthcare market.
Models
Where no hard data is available, we use models and estimates to produce comprehensive data sets. A rigorous methodology is adopted, wherein the available hard data is cross-referenced with the following data types to produce estimates:
Home healthcare can be referred as home medical care or formal care. Home health care usually involves helping someone to recover from an illness or injury and live independently for as long as possible. Home health care includes occupational and physical therapy and skilled nursing. It can also involve helping older adults with activities of daily living, such as bathing, dressing, and eating. Further, it involves assistance with cooking, cleaning, other housekeeping, and monitoring one’s medication schedule. Entirely the aim of home healthcare is to treat an illness or injury.
Growing global geriatric population, increasing the incidence of chronic disease, favorable government initiatives, and growing demand for affordable health care delivery systems are the key factors fueling demand of home health care services. In addition, growing healthcare costs and increasing health awareness among people, is expected to trigger the growth of this industry in the years to come. Favorable reimbursement policies coupled with the presence of a large number of small scale and large scale healthcare service has provided the strong boost to the home healthcare market in North America. However, varying reimbursement policies, limited coverage, and patient safety concerns are some of the factors which curtail the growth of this market.
The home healthcare market is segmented on the basis of different products into diagnostics and monitoring devices, therapeutics devices, medical supplies and home mobility assists devices. In 2015, a diagnostic and monitoring device was the largest segment in the home healthcare market and accounted for around 36.46% share of the total market. This segment is expected to continue its dominance in the global market throughout the forecast period. Medical supply was another key outlet for this market in 2015. It is expected to grow at a moderate rate in the forecast period. The therapeutic device is also one of the lucrative product segments in 2015.
Services segments of home healthcare market include rehabilitation services, telehealth and telemedicine services, infusion therapy services, respiratory therapy services and unskilled home healthcare services. Rehabilitation service was leading segment in the home healthcare market and accounted for 30.13% market share of a total market in 2015. Telehealth and telemedicine and respiratory therapy services sector are also expected to show strong growth in the coming years.
North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa are key regional markets for the home healthcare market. Demand for home healthcare was highest in North America. In terms of revenue, Europe acquired the second largest share of the market globally in 2015. Asia Pacific expected to be the fastest growing region due to emerging healthcare sector and growing population.
Some of the major industry participants in home healthcare market includes 3M Health Care, Bayer AG, Abbott Laboratories, Cardinal Health, Inc., GE Healthcare, Johnson & Johnson Services, Inc., Gentiva Health Services, Inc., Invacare Corporation, F. Hoffmann-La Roche Ltd., Phillips Healthcare, Medtronic, Inc. and Omron Healthcare, Inc.
The global Home healthcare Market was valued at USD 370.7 Billion in 2020.
The global Home healthcare Market is expected to reach USD 839.0 Billion by 2028, growing at a CAGR of 10.1% between 2021 to 2028.
Some of the key factors driving the global Home healthcare Market growth are increasing geriatric population, rising healthcare costs and technological advancements in healthcare devices.
North America is expected to remain the dominant region over the forecast period. North America followed by Europe and Asia-Pacific in terms of demand for home healthcare.
Some of the major players of global Home healthcare market 3M Health Care, Bayer AG, Abbott Laboratories, Cardinal Health, Inc., GE Healthcare, Johnson & Johnson Services, Inc., Gentiva Health Services, Inc., Invacare Corporation, F. Hoffmann-La Roche Ltd., Phillips Healthcare, Medtronic, Inc. and Omron Healthcare, Inc. among others.
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