Home Healthcare Market Size, Share & Industry Analysis by 2028

Home Healthcare Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Product ( Home Healthcare Mobility Care Products, Therapeutic Products and Testing, Testing, Screening and Monitoring Products Market ); Software ( Hospice Solutions, Clinical Management Systems, Agency Software, Others ); Services ( Hospice and Palliative Care Services, Respiratory Therapy Services, Infusion Therapy Services, Rehabilitation Therapy Services, Skilled Nursing Services, Pregnancy Care Services, Unskilled Care Services, Other ) and Geography

  • Report Code : TIPHE100000858
  • Category : Medical Device
  • Status : Published
  • No. of Pages : 186
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The home healthcare market was valued at US$ 315,139.27 million in 2020 and is projected to reach US$ 621,565.89 million by 2028; it is expected to grow at a CAGR of 8.9% from 2020 to 2028.

Home healthcare comprises a wide range of healthcare services for illness in homecare settings. The goal of home healthcare is to treat injury and improve health outcomes of a patient. These services are more convenient and less expensive and are efficient treatment for chronic diseases and serious illness, elderly population, and nutrition therapy of a patient.  

The home healthcare market is segmented on the bases of indication, product type, service, and geography. By geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South and Central America. The report offers insights and in-depth analysis of the market, emphasizing on parameters such as market trends, technological advancements, and market dynamics along with the analysis of competitive landscape of world’s leading market players.       

Lucrative Regions for Home Healthcare Market

  Lucrative Regions for Home Healthcare Market

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Market Insights

The growth of the home healthcare market is attributed to the factors such as increasing prevalence of chronic diseases, rising geriatric population, and growing development in the medical device industry. As per the United Nations (UN) estimation, by 2060, the geriatric population will reach 1.8 billion, which will account for 17.8% of the world's total population. Chronic diseases, such as cardiovascular disorders, diabetes, autoimmune disorders, and various types of cancer and neurological disorders are leading to death and disability worldwide. These clinical conditions affect patients’ overall quality of life. As per the World Health Organization (WHO), over 50% of the global population is estimated to be suffering from at least one chronic disease. As per the Centers for Disease Control and Prevention (CDC), in the US, 6 in 10 people suffered from at least one chronic disease in 2019. Cardiovascular diseases (CVDs) are a significant cause of mortality globally owing to the hectic lifestyle. Diabetes is one of the life-threatening diseases and can lead to various complications in different parts of the body and can increase the overall risk of premature death. As per the International Diabetes Federation (IDF), in 2019, ~463 million adults were suffering from diabetes, and the number is expected to reach 700 million by 2045. Countries such as the US, Japan, South Korea, Canada, the UK, Spain, and France are significantly experiencing growth in the geriatric population. The countries mentioned above, along with the developing countries such as China, India, Saudi Arabia, the UAE, and Brazil, offer significant growth opportunities for the home healthcare players to provide innovative devices. In addition, the increasing adoption of telemedicine and mHealth technologies is driving the growth of the home healthcare market.

Increasing Homecare Settings Contributes Significantly to Market Growth

Growing support from the government to encourage home care settings by offering all the required comfort for patients, increasing product launches for home care settings, and growing initiatives to expand the home care setting are the prominent factors supporting the growth of the home healthcare market. Countries such as the US, the UK, Canada, and Israel have supported hospital-at-home programs. In addition, the outbreak of the COVID-19 has promoted the adoption of homecare settings owing to shortage of hospitals and medical devices for patients worldwide. Given that, due to COVID-19 situation, the US Centers for Medicare & Medicaid Services (CMS) launched a new hospital-at-home initiative in November 2020. The hospital-at-home initiative will offer flexibilities to hospitals to provide patients with hospital-level care in their homes or home care setting. Also, as of January 2021, nearly 80 hospitals have participated in the initiative. Moreover, the home care setting industry has experienced a rise due to various product launches, collaborations, and innovations by the market players. For instance, in September 2020, SURE Universal (Israel) partnered with the UAE’s Hamad Bin Khalifa (HBK) Department of Projects to launch smart IoT healthcare solution, HBKiCare remote healthcare platform, which monitors vital signs and activities, detects falls and location, offers AI-based insights and voice activation for the UAE and the Middle East regional markets. In February 2019, Fresenius Medical Care (Germany) completed NxStage Medical Inc.'s (US) acquisition to be among the global players for the home treatment segment. In August 2020, LHC Group Inc (US) entered into a joint venture agreement with University Health Care System (US) to strengthen home health and hospice services across eight cities in Georgia and South Carolina. Therefore, such strategies by the market players are likely to accelerate the market growth in the coming years.

Product Type Insights                   

Based on product type, the global home healthcare market is segmented into therapeutic, diagnostic, and mobility assist. In 2020, the therapeutic segment held the largest share in the market. Moreover, the market for the diagnostic segment is expected to grow at the highest rate by 2028. A physician may recommend the benefits of home health therapy services following surgery, injury, or illness. Home therapy provides three different forms of care treatment—physical therapy, occupational therapy, and speech therapy. This factor is likely to boost the demand for home healthcare across the world during the forecast period

Indication Insights

Based on indication, the global home healthcare market is segmented into cancer, respiratory diseases, mobility disorders, cardiovascular disorders, pregnancy, wound care, diabetes, and other indications. The cancer segment held the largest market share in 2020, and the mobility disorders segment is expected to dominate the market by 2028. The prevalence of cancer is high across the world. Home healthcare can be hugely helpful to a cancer patient, as well as relieve pressure of family members. A nurse visits a patient at home, evaluates the patient's and family's medical needs, and collaborates with the doctor to develop a plan of care.

Service Insights

Based on service, the global home healthcare market is segmented into skilled nursing, rehabilitation therapy, hospice and palliative care, unskilled care, respiratory therapy, infusion therapy, and pregnancy care. The skilled nursing segment held the largest market share in 2020. However, the hospice and palliative care segment is expected to dominate the market by 2028. Hospice and palliative care segment are expected to grow during the forecast period owing to increasing jobs and services for nurses and caregivers. The growing advancements in medical devices are helping in offering training to the nurses to enhance their skills.    

Home Healthcare Market, by Product Type – 2020 and 2028

                                               Home Healthcare Market, by Product Type – 2020 and 2028

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Home Healthcare Market: Strategic Insights

Home Healthcare Market

  • CAGR (2020 - 2028)
    8.9%
  • Market Size 2020
    US$ 315.14 Billion
  • Market Size 2028
    US$ 621.57 Billion

Market Dynamics

GROWTH DRIVERS
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FUTURE TRENDS
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OPPORTUNITIES
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Key Players

  • Fresenius SE & Co. KGaA
  • General Electric Company
  • LINDE
  • F. HOFFMANN-LA ROCHE LTD.
  • A&D Company, Limited
  • LHC Group, Inc.
  • BAYADA Home Health Care
  • Invacare Corporation
  • Abbott Care

Regional Overview

  • North America
  • Europe
  • Asia-Pacific
  • South and Central America
  • Middle East and Africa

Market Segmentation

Product
  • Home Healthcare Mobility Care Products
  • Therapeutic Products and Testing
  • Testing
  • Screening and Monitoring Products Market
Software
  • Hospice Solutions
  • Clinical Management Systems
  • Agency Software
  • Others
Services
  • Hospice and Palliative Care Services
  • Respiratory Therapy Services
  • Infusion Therapy Services
  • Rehabilitation Therapy Services
  • Skilled Nursing Services
  • Pregnancy Care Services
  • Unskilled Care Services
  • Other
Geography
  • North America
  • Europe
  • Asia Pacific
  • Middle East and Africa
  • South and Central America
  • Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.

Product launches, and mergers and acquisitions are highly adopted strategies by the players operating in the global home healthcare market. A few of the recent key product developments are listed below:

In April 2021, Humana announced an agreement to fully acquire Kindred at Home. Humana will acquire the remaining 60% of Kindred at Home. The company purchased 40% ownership stake in 2018 and since then has collaborated closely with Kindred at Home. The transaction is expected to close in the third quarter of 2021.

In January 2020, CNET, famous for their reviews and buying guides, listed A&D Medical's UA-767F series blood pressure monitors as one of the best devices to use at home. Their authors call out this model's ease of use and accuracy as some of the top features, plus the convenience of multi-user capability (up to 4 users).

The COVID-19 pandemic is having the mixed impact on the home healthcare market. Since the home healthcare sector comprises both products and services, each has its own set of effects. The outbreak pandemic will positively impact on sales of variety of home healthcare monitoring devices, such as blood glucose monitors, blood pressure monitors, pulse oximeters, and temperature monitors. On the other side, disruptions in the supply chain caused due to the halt in global operations are hindering the market growth. 

Home Healthcare – Market Segmentation

By Product Type

  • Therapeutic
  • Diagnostic
  • Mobility assist

By Indication

  • Cancer
  • Respiratory Diseases
  • Cardiovascular Disorders
  • Mobility Disorders
  • Wound Care
  • Diabetes
  • Pregnancy
  • Other Indications

By Service

  • Skilled Nursing
  • Rehabilitation Therapy
  • Hospice and Palliative Care
  • Unskilled Care
  • Respiratory Therapy
  • Infusion Therapy
  • Pregnancy Care

By Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • UK
    • Italy
    • Spain
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • Japan
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
  • Middle East & Africa (MEA)

    • Saudi Arabia
    • South Africa
    • UAE
    • Rest of Middle East & Africa
  • South and Central America (SCAM)

    • Brazil
    • Argentina
    • Rest of South and Central America

Company Profiles

  • Fresenius SE & Co. KGaA
  • General Electric Company
  • LINDE
  • F. HOFFMANN-LA ROCHE LTD.
  • A&D Company, Limited
  • LHC Group, Inc.
  • BAYADA Home Health Care
  • Invacare Corporation
  • Abbott Care
  • Amedisys
  • Kindred Healthcare, LLC

Home Healthcare Market Report Scope

Report Attribute Details
Market size in 2020 US$ 315.14 Billion
Market Size by 2028 US$ 621.57 Billion
Global CAGR (2020 - 2028) 8.9%
Historical Data 2018-2019
Forecast period 2021-2028
Segments Covered By Product
  • Home Healthcare Mobility Care Products
  • Therapeutic Products and Testing
  • Testing
  • Screening and Monitoring Products Market
By Software
  • Hospice Solutions
  • Clinical Management Systems
  • Agency Software
  • Others
By Services
  • Hospice and Palliative Care Services
  • Respiratory Therapy Services
  • Infusion Therapy Services
  • Rehabilitation Therapy Services
  • Skilled Nursing Services
  • Pregnancy Care Services
  • Unskilled Care Services
  • Other
Regions and Countries Covered North America
  • US
  • Canada
  • Mexico
Europe
  • UK
  • Germany
  • France
  • Russia
  • Italy
  • Rest of Europe
Asia-Pacific
  • China
  • India
  • Japan
  • Australia
  • Rest of Asia-Pacific
South and Central America
  • Brazil
  • Argentina
  • Rest of South and Central America
Middle East and Africa
  • South Africa
  • Saudi Arabia
  • UAE
  • Rest of Middle East and Africa
Market leaders and key company profiles
  • Fresenius SE & Co. KGaA
  • General Electric Company
  • LINDE
  • F. HOFFMANN-LA ROCHE LTD.
  • A&D Company, Limited
  • LHC Group, Inc.
  • BAYADA Home Health Care
  • Invacare Corporation
  • Abbott Care
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    Report Coverage
    Report Coverage

    Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

    Segment Covered
    Segment Covered

    Home Healthcare Market Forecast to 2028 - Covid-19 Impact and Global Analysis - By Product ; Software ; Services and Geography

    Regional Scope
    Regional Scope

    North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

    Country Scope
    Country Scope

    Argentina, Australia, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Saudi Arabia, South Africa, South Korea, Spain, United Arab Emirates, United Kingdom, United States

    The List of Companies - Home Healthcare Market

    1. Fresenius SE & Co. KGaA
    2. General Electric Company
    3. LINDE
    4. F. HOFFMANN-LA ROCHE LTD.
    5. A&D Company, Limited
    6. LHC Group, Inc.
    7. BAYADA Home Health Care
    8. Invacare Corporation
    9. Abbott Care
    10. Amedisys
    11. Kindred Healthcare, LLC

    The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

    1. Data Collection and Secondary Research:

    As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

    Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

    1. Primary Research:

    The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

    For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

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    Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

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    Below is the breakup of our primary respondents by company, designation, and region:

    Research Methodology

    Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

    1. Data Analysis:

    Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

    • 3.1 Macro-Economic Factor Analysis:

    We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

    • 3.2 Country Level Data:

    Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

    • 3.3 Company Profile:

    The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

    • 3.4 Developing Base Number:

    Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

    1. Data Triangulation and Final Review:

    The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

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    We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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