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.       

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.

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Home Healthcare Market: Strategic Insights

Home Healthcare Market

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  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

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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.                                    

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 Report Scope

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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