Dublin, Oct. 19, 2021 (GLOBE NEWSWIRE) -- The "Home Healthcare Market Size, Share & Trends Analysis Report By Component (Equipment, Services), By Region (North America, APAC, Europe), And Segment Forecasts, 2021 - 2028" report has been added to ResearchAndMarkets.com's offering.
The global home healthcare market size is expected to reach USD 545.1 billion by 2028, according to a new report by the publisher, expanding at a CAGR of 7.88% over the forecast period. This growth can be attributed to cost-efficiency, improved patient outcomes, and convenience offered by home healthcare agencies. In addition, the rising geriatric population and the growing prevalence of chronic diseases, such as Alzheimer's, dementia, and orthopedic conditions, are expected to drive market growth. As per the Population Reference Bureau data updated in June 2019, the number of people aged 65 years and above was 52 million in 2018 and is projected to double by 2060 to reach 95 million. The World Health Organization (WHO) statistics state that there are around 50 million dementia patients in the world with 10 million new cases getting added every year. This number is expected to reach 82 million by 2030.
The elderly population is expected to outnumber the children population in the span, which is a demographic shift and poses to be a public health challenge. Moreover, the maintenance and establishment of hospitals and other healthcare settings need high capital investment. Some of the healthcare solutions providers are following a merger and acquisition strategy to enter the market and provide cost-effective services and leverage the expertise of the merged or acquired firm. Also, shifting trends toward in-home healthcare services for patients to avoid hospital stays is another key factor driving the market growth. During the COVID-19 pandemic, the majority of the nursing facilities were significantly impacted, while the in-home services aided the majority of healthcare providers to offer their services in a safe environment.
The demand for home care services is expected to increase in the immediate future, owing to the ongoing COVID-19 pandemic. These services are safer and cost-effective alternatives to hospital services. External substitutes, including hospitals, informal care, and other healthcare establishments, pose a limited threat, mostly due to their high costs. Thus, the threat of substitutes in the market is expected to be moderate during the forecast period.
Home Healthcare Market Report Highlights
- Services dominated the component segment in 2020. Growing demand for skilled nurses for rehabilitation services, wound dressings, tube feedings, and maintaining stable patient health drive the growth of this segment
- Mainly, patients with major trauma due to accidents or those suffering from strokes opt for rehabilitation services for improving their way of talking, walking, and feeding themselves all over again
- The demand for home therapeutic equipment is increasing due to the rising prevalence of chronic conditions, such as respiratory diseases, kidney disorders, and diabetes
- Advancement in technology is likely to favor market growth. For instance, active home telemonitoring devices can help in capturing vital signs and symptoms, which help the home health agency
- North America is the most matured regional market. The presence of a large geriatric population, sophisticated healthcare infrastructure, and relatively higher patient disposable income levels are some of the key factors driving the regional market
- Europe held a significant share in 2020. With the ongoing COVID-19 pandemic, the demand for nurses, attendants, physicians, physiotherapists, and caregivers is expected to rise, with home care services being considered a safer alternative to hospital services
Key Topics Covered:
Chapter 1 Report Scope
Chapter 2 Market Definition
Chapter 3 Methodology
Chapter 4 Objectives
Chapter 5 Executive Summary
Chapter 6 Industry Outlook
6.1 Market Lineage outlook
6.1.1 Parent market outlook
6.1.2 Related/ancillary market outlook
6.2 User Perspective Analysis
6.2.1 Consumer Behavior Analysis
6.3 Business Segment Trends
6.3.1 Product business analysis
6.3.2 regional business analysis
6.4 Market Dynamics
6.4.1 Market driver analysis
6.4.1.1 Home healthcare as a cost-effective alternative
6.4.1.2 Growing geriatric population
6.4.1.3 Hospital solution providers penetrating the home healthcare market
6.4.1.4 Growing prevalence of target diseases, especially Alzheimer's and dementia
6.4.1.5 Companies are expanding operations in other cities
6.4.1.6 Advancement in technology
6.4.2 Market restraint analysis
6.4.2.1 Lower remunerations
6.4.2.2 Shortage of skilled healthcare staff
6.4.2.3 Complicated reimbursement framework and reimbursement cuts
6.5 Penetration & Growth Prospect Mapping
6.6 Business Environment Analysis tools
6.6.1 SWOT Analysis, by PEST
6.6.1.1 Political & legal
6.6.1.2 Economic
6.6.1.3 Technological & social
6.6.2 Porter's five forces analysis
6.6.2.1 Threat of new entrants: Moderate
6.6.2.2 Bargaining power of buyers : Moderate
6.6.2.3 Competitive rivalry : High
6.6.2.4 Bargaining power of suppliers : Moderate
6.6.2.5 Threat of substitutes : Moderate
6.6.3 Industry Analysis - Ansoff Matrix
Chapter 7 Regulatory & Political Forces
7.1 North America
7.1.1 U.S.
7.1.2 Canada
7.2 Europe
7.3 Asia
Chapter 8 Reimbursement Scenario
8.1 U.S.
8.2 Canada
8.3 UK
8.4 Germany
8.5 France
8.6 Italy
8.7 Spain
8.8 Netherlands
8.9 Japan
8.10 Australia
8.11 Singapore
8.12 Brazil
Chapter 9 Home Healthcare Market: Component Analysis
Chapter 10 Home Healthcare Market: Regional Outlook
Chapter 11 Competitive & Vendor Landscape
Chapter 12 Company Profiles: Service Providers
12.1 KINDRED HEALTHCARE, INC.
12.1.1 Company overview
12.1.2 Financial performance
12.1.3 Service benchmarking
12.1.4 Strategic initiatives
12.2 ALMOST FAMILY, INC.
12.2.1 Company overview
12.2.2 Financial performance
12.2.3 Service benchmarking
12.2.4 Strategic initiatives
12.3 NATIONAL HEALTHCARE CORPORATION
12.3.1 Company overview
12.3.2 Financial performance
12.3.3 Service benchmarking
12.3.4 Strategic initiatives
12.4 CHUBB FIRE & SECURITY PTY LTD
12.4.1 Company overview
12.4.2 Financial performance
12.4.3 Service benchmarking
12.4.4 Strategic initiatives
12.5 GENTIVA HEALTH SERVICES, INC.
12.5.1 Company overview
12.5.2 Financial performance
12.5.3 Service benchmarking
12.5.4 Strategic initiatives
12.6 MEDCO HOME HEALTHCARE, INC.
12.6.1 Company overview
12.6.2 Service benchmarking
12.7 ADDUS HOMECARE
12.7.1 Company overview
12.7.2 Financial performance
12.7.3 Service benchmarking
12.7.4 Strategic initiatives
12.8 BROOKDALE SENIOR LIVING INC.
12.8.1 Company overview
12.8.2 Financial performance
12.8.3 Services benchmarking
12.8.4 Strategic initiatives
12.9 SUNRISE StRATFORD, LP (SUNRISE SENIOR LIVING, LLC)
12.9.1 Company overview
12.9.2 Financial performance
12.9.3 Services benchmarking
12.9.4 Strategic initiatives
12.10 GENESIS HEALTHCARE, INC.
12.10.1 Company overview
12.10.2 Financial performance
12.10.3 Service benchmarking
12.10.4 Strategic initiatives
12.11 EXTENDICARE, INC.
12.11.1 Company overview
12.11.2 Financial performance
12.11.3 Service benchmarking
12.11.4 Strategic initiatives
12.12 CAPITAL SENIOR LIVING CORPORATION
12.12.1 Company overview
12.12.2 Financial performance
12.12.3 Services benchmarking
12.12.4 Strategic initiatives
12.13 DIVERSICARE HEALTHCARE SERVICES, INC.
12.13.1 Company overview
12.13.2 Financial performance
12.13.3 Services benchmarking
12.13.4 Strategic initiatives
12.14 HOME INSTEAD, INC.
12.14.1 Company overview
12.14.2 Services benchmarking
12.14.3 Strategic initiatives
12.15 SENIOR CARE CENTERS OF AMERICA
12.15.1 Company overview
12.15.2 Services benchmarking
12.15.3 Strategic initiatives
12.16 ATRIA SENIOR LIVING, INC.
12.16.1 Company overview
12.16.2 Services benchmarking
12.16.3 Strategic initiatives
12.17 AMEDISYS, INC.
12.17.1 Company overview
12.17.2 Financial performance
12.17.3 Service benchmarking
12.17.4 Strategic initiatives
Chapter 13 Company Profiles: Suppliers
13.1 B. BRAUN MELSUNGEN AG
13.1.1 Company overview
13.1.2 Financial performance
13.1.3 Product benchmarking
13.1.4 Strategic initiatives
13.2 ABBOTT
13.2.1 Company overview
13.2.2 Financial performance
13.2.3 Product benchmarking
13.2.4 Strategic initiatives
13.3 SUNRISE MEDICAL
13.3.1 Company overview
13.3.2 Financial performance
13.3.3 Product benchmarking
13.3.4 Strategic initiatives
13.4 3M HEALTHCARE
13.4.1 Company overview
13.4.2 Financial performance
13.4.3 Product benchmarking
13.4.4 Strategic initiatives
13.5 BAXTER INTERNATIONAL INC.
13.5.1 Company overview
13.5.2 Financial performance
13.5.3 Product benchmarking
13.5.4 Strategic initiatives
13.6 MEDTRONIC PLC
13.6.1 Company overview
13.6.2 Financial performance
13.6.3 Product benchmarking
13.6.4 Strategic initiatives
13.7 CARDINAL HEALTH INC.
13.7.1 Company overview
13.7.2 Financial performance
13.7.3 Product benchmarking
13.7.4 Strategic initiatives
13.8 F. HOFFMANN-LA ROCHE AG
13.8.1 Company overview
13.8.2 Financial performance
13.8.3 Product benchmarking
13.8.4 Strategic initiatives
13.9 AIR LIQUIDE
13.9.1 Company overview
13.9.2 Financial performance
13.9.3 Product benchmarking
13.9.4 Strategic initiatives.
13.10 NXSTAGE MEDICAL, INC. (FRESENIUS MEDICAL CARE)
13.10.1 Company overview
13.10.2 Financial performance
13.10.3 Product benchmarking
13.10.4 Strategic initiatives
13.11 ARKRAY, INC.
13.11.1 Company overview
13.11.2 Product benchmarking
13.11.3 Strategic Initiatives
13.12 BECTON, DICKINSON AND COMPANY
13.12.1 Company overview
13.12.2 Financial performance
13.12.3 Product benchmarking
13.12.4 Strategic initiatives
13.13 OMRON HEALTHCARE, INC.
13.13.1 Company overview
13.13.2 Financial performance
13.13.3 Product benchmarking
13.13.4 Strategic initiatives
13.14 DRIVE DEVILBISS HEALTHCARE
13.14.1 Company overview
13.14.2 Financial performance
13.14.3 Product benchmarking
13.14.4 Strategic initiatives
13.15 GE HEALTHCARE
13.15.1 Company overview
13.15.2 Financial performance
13.15.3 Product benchmarking
13.15.4 Strategic initiatives
13.16 MEDLINE INDUSTRIES, INC.
13.16.1 Company overview
13.16.2 Financial performance
13.16.3 Product benchmarking
13.16.4 Strategic initiatives
13.17 KONINKLIJKE PHILIPS N.V.
13.17.1 Company overview
13.17.2 Financial performance
13.17.3 Product benchmarking
13.17.4 Strategic initiatives
13.18 HILL-ROM, INC.
13.18.1 Company overview
13.18.2 Financial performance
13.18.3 Product benchmarking
13.18.4 Strategic initiatives
13.19 JOHNSON & JOHNSON SERVICES, INC.
13.19.1 Company overview
13.19.2 Financial performance
13.19.3 Product benchmarking
13.19.4 Strategic initiatives
13.20 LINDE HEALTHCARE
13.20.1 Company overview
13.20.2 Financial performance
13.20.3 Product benchmarking
13.20.4 Strategic initiatives
13.21 ACELITY
13.21.1 Company overview
13.21.2 Product benchmarking
13.21.3 Strategic initiatives
13.22 VYGON
13.22.1 Company overview
13.22.2 Financial performance
13.22.3 Product benchmarking
13.23 TELEFLEX, INC.
13.23.1 Company overview
13.23.2 Financial performance
13.23.3 Product benchmarking
13.24 MOOG INC.
13.24.1 Company overview
13.24.2 Financial performance
13.24.3 Product benchmarking
13.25 INTERSURGICAL LTD.
13.25.1 Company overview
13.25.2 Product benchmarking
13.26 FRESENIUS KABI AG.
13.26.1 Company overview
13.26.2 Financial performance
13.26.3 Product benchmarking
13.26.4 Strategic initiatives
13.27 BAYER HEALTHCARE
13.27.1 Company overview
13.27.2 Financial performance
13.27.3 Product benchmarking
13.27.4 Strategic initiatives
13.28 GF HEALTH PRODUCTS, INC.
13.28.1 Company overview
13.28.2 Financial performance
13.28.3 Product benchmarking
13.28.4 Strategic initiatives
Chapter 14 Recommendations
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