Home Healthcare Market Is Expected to Reach US$ 666.9 billion by 2030, Grow at a CAGR Of 7.96% during Forecast Period 2023 To 2030 | Data By Contrive Datum Insights Pvt Ltd.

According to a market research study published by Contrive Datum Insights, Because to technological progress, doctors may now provide top-notch house calls for their patients by using tools like telehealth and remote monitoring to keep tabs on their health from afar.


Farmington, May 15, 2023 (GLOBE NEWSWIRE) -- The Global Home Healthcare Market Was Valued At US$ 362.1 billion In 2022 And Is Expected To Expand US$ 666.9 billion By 2030 at a CAGR Of 7.96% From 2023 To 2030. Factors that are projected to drive market expansion include the increasing elderly population and the rising prevalence of key disorders, such as dementia and Alzheimer's and orthopaedic diseases. Governments and health organizations are working hard to reduce healthcare costs because of the rising cost of treatment. The alternative to a costly hospital visit is healthcare provided in the comfort of one's own home.

For instance, "hospital at home" programs allow patients to receive acute care at home with fewer complications and nearly 30% lower costs of care, as reported by The Commonwealth Fund. This helps patients feel more at ease and is expected to be a major market driver. In developing countries, the prevalence of noncommunicable diseases has increased as communicable ones have decreased thanks to medical progress. The prevalence of lifestyle diseases has been on the rise due to risk factors such as sedentary behaviour and excessive alcohol consumption. The market will be driven by the increasing prevalence of disorders including Alzheimer's and dementia that require chronic treatment.

In addition, there is rising consciousness regarding the availability of home care services and tools for such conditions. Convenient and accurate home care for lifestyle illnesses is now possible because to the availability of portable gadgets including heart rate monitors, breathing assistance, and blood glucose monitors. The rise of value-based healthcare is also influencing the industry. The government provides either partial or full coverage for home services in the vast majority of industrialized and developing countries. Medicare reimbursements in the United States are exceptionally generous for providing value-based healthcare with the goal of bettering patient outcomes while keeping costs down. As a result, healthcare delivered to patients' homes is more popular.

Request Sample Copy of Report “Home Healthcare Market Size, Share & Trends Estimation Report By Type Outlook (Rigid, Semi-rigid & Flexible) By Material Type (Paper & Paper-based, Plastic, Metal, Glass & Others) By Application Outlook (Bakery & Confectionery, Dairy Products, Fruits &Vegetables, Meat, Poultry, & Seafood, Sauces & Dressings & Others) By Region, And Segment Forecasts, 2023 - 2030 ”, published by Contrive Datum Insights.

Segmentation Overview:

Component Outlook:

Home healthcare goods like monitors, walkers, and oxygen concentrators are all part of the products division's offerings. Increasing desire for non-invasive and cost-effective treatment alternatives, technological improvements, and the rise in the incidence of chronic diseases are all factors that are driving the home healthcare industry.

Electronic health records (EHR), telehealth applications, and remote patient monitoring (RPM) systems are all examples of software used in at-home healthcare settings. Market growth for home healthcare software is being propelled by factors including rising interest in remote monitoring and the requirement for effective healthcare management systems. Healthcare practitioners can remotely monitor patients with the use of home healthcare software solutions, which also boosts communication and collaboration among healthcare teams and streamlines healthcare procedures.

Indication Outlook:

Conditions covered in the Cardiovascular Disorders section include high blood pressure, heart failure, and coronary artery disease. The growing number of people with cardiovascular disease, skyrocketing healthcare expenses, and the imperative to constantly monitor and control symptoms are all driving forces in this sector of the home healthcare services and products market.

Conditions including COPD, asthma, and sleep apnea are all covered under the Respiratory Disorders section. The growing number of people suffering from breathing problems, the subsequent demand for home-based respiratory therapy, and the accompanying necessity for constant symptom monitoring are all factors that are propelling this sector of the home healthcare market forward.

The rising prevalence of chronic diseases, technological improvements, and rising desire for individualized and affordable healthcare solutions are all factors propelling growth in the global home healthcare market. When it comes to providing high-quality care for a wide range of indications, home healthcare professionals must adopt a patient-centric approach.

Regional Outlook:

The home healthcare industry in North America is mature, with deep penetration and strict oversight. Factors such as an aging population, the incidence of chronic diseases, and technological advancements are driving the market. The United States, followed by Canada, is the largest market in North America.

There is a rising need for home healthcare services and a robust regulatory framework in Europe's home healthcare industry. An aging population, rising healthcare expenses, and the trend toward patient-centered care are all pushing the market forward. The marketplaces in the UK, Germany, and France are some of Europe's most important.

Factors such as an expanding consumer base, rising healthcare costs, and better medical equipment are fueling significant expansion in the home healthcare market across Asia and the Pacific. There is a wide range of market penetration in different countries, making for a highly fragmented market. The economies of China and Japan are two of the region's largest.

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Scope of Report:

Report AttributesDetails
Growth RateCAGR of 7.96% from 2023 to 2030.
Revenue Forecast by 2030US$ 666.9 billion
By EquipmentTherapeutic

  • Home respiratory therapy equipment
  • Insulin delivery devices
  • Home IV pumps
  • Home dialysis equipment
  • Others
Diagnostic

  • Diabetic care unit
  • BP monitors
  • Multi para diagnostic monitors
  • Home pregnancy and fertility kits
  • Apnea and sleep monitors
  • Holter monitors
  • Heart rate monitors
  • Others
Mobility Assist

  • Wheel chair
  • Home medical furniture
  • Walking assist devices
Services
  • Skilled Home Healthcare Services
  • Physician primary care
  • Nursing care
  • Physical/occupational/speech therapy
  • Nutritional support
  • Hospice & palliative care
  • Others
By Indication
  • Cardiovascular Disorders & Hypertension
  • Diabetes
  • Respiratory Diseases
  • Pregnancy
  • Mobility Disorders
  • Cancer
  • Wound Care
  • Other Indications
By Companies
  • McKesson Medical-Surgical Inc.
  • Fresenius Medical Care
  • Medline Industries, Inc.
  • Medtronic PLC
  • 3M Healthcare
  • Baxter International Inc.
  • B. Braun Melsungen AG
  • Arkray, Inc.
  • F. Hoffmann-La Roche AG
  • Becton, Dickinson And Company
  • Acelity L.P.
  • Hollister Inc.
  • ConvaTec Group PLC
  • Molnlycke Health Care
 Regional Scope
  • North America
  • Europe
  • Asia-Pacific
  • The Middle East & Africa
  • Latin America
Regions and Countries Covered
  • North America: (US, Canada, Mexico, Rest of North America)
  • Europe(Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
  • Asia-Pacific (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
  • The Middle East & Africa(Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
  • Latin America(Brazil, Argentina, Rest of Latin America)
  • Rest Of the World
Base Year 2022
Historical Year 2017 to 2022
Forecast Year 2023 to 2030

Market Dynamics:

Driving Factors:

The worldwide home healthcare market has been expanding for a variety of reasons. Consider some of the following examples of such elements:

Technological Advancements: Because to technological advancements like telehealth and remote monitoring, patients can now get professional healthcare in the comfort of their own homes.

Rising Healthcare Costs: The rising cost of healthcare around the world has made at-home medical care an appealing alternative for many consumers and healthcare providers concerned about keeping costs down without sacrificing quality of care.

Restraining Factors:

The worldwide home healthcare market is poised for expansion, but it faces a number of challenges that could slow its expansion. They include, but are not limited to:

Limited Coverage: Insurance may not cover all forms of home healthcare, limiting its availability to some patients. In addition, certain populations of patients, such as those with chronic conditions or impairments, may be excluded from receiving home healthcare services in particular places.

Lack of Infrastructure: Inadequate Transportation, Communication, and Technology Systems Home healthcare cannot be provided effectively without adequate support from these areas. Healthcare at home might be difficult to access and get in some areas due to inadequate infrastructure.

Key Segments Covered:

Top Market Players:

  • McKesson Medical-Surgical Inc.
  • Fresenius Medical Care
  • Medline Industries, Inc.
  • Medtronic PLC
  • 3M Healthcare
  • Baxter International Inc.
  • B. Braun Melsungen AG
  • Arkray, Inc.
  • F. Hoffmann-La Roche AG
  • Becton, Dickinson And Company
  • Acelity L.P.
  • Hollister Inc.
  • ConvaTec Group PLC
  • Molnlycke Health Care

By Equipment

Therapeutic

  • Home respiratory therapy equipment
  • Insulin delivery devices
  • Home IV pumps
  • Home dialysis equipment
  • Others

Diagnostic

  • Diabetic care unit
  • BP monitors
  • Multi para diagnostic monitors
  • Home pregnancy and fertility kits
  • Apnea and sleep monitors
  • Holter monitors
  • Heart rate monitors
  • Others

Mobility Assist

  • Wheel chair
  • Home medical furniture
  • Walking assist devices

Services

  • Skilled Home Healthcare Services
  • Physician primary care
  • Nursing care
  • Physical/occupational/speech therapy
  • Nutritional support
  • Hospice & palliative care
  • Others

By Indication

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

By Region

  • North America
    • US
    • Canada
    • Mexico
    • Rest of North America
  • Europe
    • Germany
    • France
    • Italy
    • Spain
    • UK
    • Nordic Countries
      • Denmark
      • Finland
      • Iceland
      • Sweden
      • Norway
    • Benelux Union
      • Belgium
      • The Netherlands
      • Luxembourg
      • Rest of Europe
  • Asia-Pacific
    • Japan
    • China
    • India
    • Australia
    • South Korea
    • Southeast Asia
      • Indonesia
      • Thailand
      • Malaysia
      • Singapore
      • Rest of Southeast Asia
    • Rest of Asia-Pacific
  • The Middle East & Africa
    • Saudi Arabia
    • UAE
    • Egypt
    • South Africa
    • Rest of the Middle East & Africa
  • Latin America
    • Brazil
    • Argentina
    • Rest of Latin America

Regions and Countries Covered

  • North America: (US, Canada, Mexico, Rest of North America)
  • Europe: (Germany, France, Italy, Spain, UK, Nordic Countries, Benelux Union, Rest of Europe)
  • Asia-Pacific: (Japan, China, India, Australia, South Korea, Southeast Asia, Rest of Asia-Pacific)
  • The Middle East & Africa: (Saudi Arabia, UAE, Egypt, South Africa, Rest of the Middle East & Africa)
  • Latin America: (Brazil, Argentina, Rest of Latin America)
  • Rest Of the World

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