Pune, India, Oct. 06, 2023 (GLOBE NEWSWIRE) -- Global U.S. Home Healthcare Services Market Size was valued at USD 90.47 billion in 2022 and is projected to USD 156.28 billion by 2030 exhibiting a CAGR of 7.2% during the forecast period. Home healthcare services refer to a vast range of medical services offered at home to treat an illness or injury.
These services are less expensive, more convenient, and as effective as those provided at medical centers. The growing elderly population in the U.S. has increased their risk of being diagnosed with several chronic diseases. Moreover, shifting patient preference for home treatment is anticipated to boost the U.S. home healthcare services market growth.
This information is provided by Fortune Business Insights™ in its research report titled U.S. Home Healthcare Services Market, 2023-2030.
Key Industry Development-
- September 2022 – Trinity Health acquired MercyOne Health System in Iowa to expand its healthcare services, including home care, hospice care, and infusion care.
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Key Takeaways –
- Rising Aging Population with Chronic Diseases Expected to Drive Market Expansion
- The Shift Towards Home-Based Healthcare Services to Lower Healthcare Costs
- Increasing Spending from Government to Boost Demand for Public Health Insurance
- The nursing care segment is expected to hold a major market share during the projected period.
Discover the Leading Players Featured in the Report-
- Amedisys (U.S.)
- LHC Group, Inc. (UNITEDHEALTH GROUP) (U.S.)
- Enhabit Home Health & Hospice (U.S.)
- Brookdale Senior Living Inc. (U.S.)
- Trinity Health (U.S.)
- CenterWell Home Health (Humana) (U.S.)
- AccentCare, Inc. (U.S.)
- BAYADA Home Health Care (U.S.)
- ELARA CARING (U.S.)
- Interim Healthcare Inc. (U.S.)
Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 7.2% |
| 2030 Value Projection | USD 156.28 Billion |
| Base Year | 2022 |
| U.S. Home Healthcare Services Market Size in 2022 | USD 90.47 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 92 |
| Segments covered | Type and Payor |
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Drivers & Restraints:
Increasing Percentage of Elderly Population to Accelerate Market Progress
Individuals aged 65 years and above are highly vulnerable to chronic ailments, encompassing conditions such as dementia, diabetes, and heart-related disorders. The elderly population is on the rise in the U.S., which has also increased the need for continuous monitoring of these medical ailments to ensure proper and timely treatments. Since a rising number of old patients prefer to get treated at home, the demand for home healthcare services is set to rise in the U.S.
However, increased exposure to waste, fraud, and abuse may restrain the market’s growth.
Segmentation:
By Type
- Physician Care
- Nursing Care
- Physical, Occupational & Speech Therapy
- Medical Social Services
- Others
By Payor
- Public Health Insurance
- Private Health Insurance/Out of Pocket
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Competitive Landscape:
Strong Product Portfolios and Distribution Channels Help Key Companies Maintain Market Dominance
The key companies operating in the U.S. home healthcare services market include LHC Group, Amedisys Inc., CenterWell Home Health, and Enhabit Home Health & Hospice. These companies possess expansive and dependable product portfolios, coupled with well-established distribution channels, enabling them to bolster their revenue margins and fortify their market position.
FAQs
How big is the U.S. Home Healthcare Services Market?
U.S. Home Healthcare Services Market size was USD 90.47 billion in 2022. It is expected to reach USD 156.28 billion in 2030.
How fast is the U.S. Home Healthcare Services Market growing?
The U.S. Home Healthcare Services Market will exhibit a CAGR of 7.2% during the forecast period, 2023-2030.
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