New York, United States, Nov. 15, 2023 (GLOBE NEWSWIRE) -- The Global Pediatric Home Healthcare Market Size is To Grow from USD 42.6 Billion in 2022 to USD 85.8 Billion by 2032, at a Compound Annual Growth Rate (CAGR) of 7.25% during the forecast period.
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Pediatric home healthcare is medical treatment delivered to newborns, children, and adolescents in the comfort of their own homes. It includes a wide range of healthcare services and treatments offered by qualified healthcare professionals such as nurses, therapists, and aides who specialize in caring for children's patients. The advancement of contemporary technology and telemedicine in birth support solutions, as well as a growth in the number of pediatric home healthcare service providers, has raised market demand. Increased healthcare expenditure for improved healthcare facilities, increased disposable income, adoption of smart home healthcare models, and technical developments in-home healthcare services are some of the primary drivers driving global acceptance of pediatric home healthcare. Furthermore, the availability of cutting-edge technology for providing continuous care and medical assistance to Children with Medical Complexities (CMC) at home is expected to fuel market growth.
The growing number of preterm babies born each year, as well as the global prevalence of numerous congenital neurological, cardiac, and respiratory problems, have a significant impact on the global market. The advancement of technology and rising public awareness of pediatric home care are expected to drive the growth of the pediatric home healthcare market over the forecast period. Moreover, the increased life expectancy of preterm babies as a result of improved medical techniques has created a need for in-home pediatric care services. Infants born prematurely and weighing less than one pound generally have several chronic issues that require prompt management. Furthermore, the high cost of home healthcare services for pediatric patients may provide a significant hurdle to market growth in the coming years. Professional nurses, therapists, and aides who specialize in caring for children with complex medical needs are required for pediatric home healthcare, which can boost the cost of their services.
Covid 19 Impacts
The COVID-19 epidemic increased the income of the pediatric home healthcare business. The coronavirus outbreak spread disease and affected various worldwide enterprises, particularly the healthcare industry. These circumstances encouraged the development of home care services in several nations throughout the world. Families have sought alternatives to hospital or clinic visits due to worries about viral transmission in healthcare settings. Pediatric home healthcare provides a secure and regulated environment for children with medical requirements, lowering their risk of infection. Furthermore, the development of telehealth services such as virtual consultations and remote monitoring has increased market demand. As a result, the COVID-19 epidemic has hastened the uptake of pediatric home healthcare services while emphasizing their importance in providing safe, effective, and family-centered treatment. It has fueled innovation, expanded the use of technology, and reinforced healthcare system integration, laying the path for the pediatric home healthcare industry's sustained development and expansion in the post-pandemic age.
Browse key industry insights spread across 200 pages with 110 Market data tables and figures & charts from the report on the "Global Pediatric Home Healthcare Market Size By Service (Skilled Nursing Services, Personal Care Assistance, Rehabilitation Therapy Services, and Others), By Indication (Cancer, Respiratory Diseases, Cardiovascular Diseases, Hearing Disorders, & Others), By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2022– 2032".
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The rehabilitation therapy services segment is dominating the largest market share over the forecast period.
The global pediatric home healthcare market is segmented into services such as skilled nursing, personal care assistance, rehabilitation therapy services, and others. Because the purpose of rehabilitation treatment is to increase functional abilities such as mobility, strength, coordination, and self-care skills, the rehabilitation therapy services category is predicted to have high growth potential over the forecast period. These programs include targeted exercises, therapeutic activities, and therapies that help youngsters improve their motor skills and achieve more independence in daily duties.
The cancer segment is influencing the market with the largest market share during the forecast period.
The global pediatric home healthcare market is bifurcated by indication into different categories such as cancer, respiratory illnesses, cardiovascular diseases, hearing problems, and others. Because of the multiple clinical benefits given by the pediatric home healthcare method in cancer diagnostics, the cancer sector is leading the market with the biggest revenue share over the projection period. According to the National Cancer Institute, about 15,590 children in the United States will be diagnosed with cancer in 2021. The increased prevalence of such disorders is expected to drive market expansion. As a result of chemotherapy or other treatments, children with cancer usually have impaired immune systems. Home healthcare protects children from infections and germs that may be found in healthcare institutions.
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North America led the market with the largest market share over the forecast period
North America is expected to lead substantial market expansion during the forecast period because of several causes, including the presence of significant service providers, the increasing prevalence of chronic diseases, and growing awareness of the therapeutic benefits given by pediatric home healthcare, among others. Asthma, diabetes, cerebral palsy, and other complex medical conditions require ongoing medical attention and treatment. Pediatric home healthcare provides specialized treatment and help to children suffering from various disorders, therefore enhancing their quality of life and overall health results.
Asia Pacific is predicted to experience strong revenue market growth throughout the forecast period owing to the life expectancy of preterm neonates and neonatal kids has risen considerably due to advances in medical technology in developing countries; yet, these babies are at a higher risk of developing physical and neurological defects, needing in-home pediatric care. BAYADA Home Health Care has created various pediatric services in India, South Korea, and New Zealand as a consequence.
Competitive Analysis:
The report offers the appropriate analysis of the key organizations/companies involved within the global market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market. Major vendors in Global Pediatric Home Healthcare Market include Aveanna Healthcare, Inc., DJK Home Healthcare LLC, BAYADA Home Health Care, Tendercare Home Health, BrightStar Care, Angels of Care Pediatric Home Health, New England Home Care, Inc., Pediatric Home Healthcare, Enviva Paediatric Care, Interim Healthcare Inc., eKidzCare, MGA Homecare, At Home Healthcare, ParaMed, and Others.
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Recent Development
In February 2022, Pfizer Inc. and BioNTech initiated a rolling submission to alter the Emergency Use Authorization (EUA) of the Pfizer-BioNTech COVID-19 Vaccine to cover children 6 months to 4 years of age, in response to an urgent public health need in this demographic.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2022 to 2032. Spherical Insights has segmented the Global Pediatric Home Healthcare Market based on the below-mentioned segments:
Global Pediatric Home Healthcare Market, By Service
- Skilled Nursing Services
- Personal Care Assistance
- Rehabilitation Therapy Services
- Others
Global Pediatric Home Healthcare Market, By Indication
- Cancer
- Respiratory Diseases
- Cardiovascular Diseases
- Hearing Disorders
- Others
Pediatric Home Healthcare Market, By Regional Analysis
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- Uk
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
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