Dublin, Jan. 08, 2025 (GLOBE NEWSWIRE) -- The "Home Healthcare Market Report 2024-2034" report has been added to ResearchAndMarkets.com's offering.
Overall world revenue for the Home Healthcare Market will surpass US$400 billion in 2024
This report will prove invaluable to leading firms striving for new revenue pockets if they wish to better understand the industry and its underlying dynamics. It will be useful for companies that would like to expand into different industries or to expand their existing operations in a new region.
Advancements in Technology and Rising Awareness of Home Care Options are Driving Significant Growth
Technological advancements are significantly driving the growth of the home healthcare market, particularly through innovations like telemedicine and remote patient monitoring. These technologies allow healthcare providers to manage patients remotely, enabling real-time interventions that improve outcomes and lower healthcare costs. Remote monitoring solutions, including smart sensors, telehealth platforms, and medical devices, are boosting global demand for home healthcare services as they offer more convenient and efficient alternatives to traditional care.
Additionally, rising awareness of home care options, coupled with growing disposable incomes, is accelerating the adoption of home healthcare, especially among elderly or bedridden patients. These services not only reduce hospital readmissions but also improve recovery rates compared to conventional inpatient care. Companies are now focusing on emerging markets, such as India and China, to capture this growing demand.
Segment Analysis
The services segment continues to dominate the home healthcare market, anticipated to capture a significant revenue share of over 60% in 2024. This segment is divided into skilled and unskilled home healthcare services. Skilled services are delivered by licensed healthcare professionals, while unskilled services provide non-medical support, such as basic assistance or personal care services, helping home-bound patients with daily living tasks. The rising costs of hospital admissions are expected to drive further demand for skilled care services.
Skilled nursing services involve healthcare professionals, such as physicians, registered nurses, physiotherapists, and specialized caregivers, offering critical care in home settings or dedicated care facilities. With a growing elderly population suffering from chronic conditions like diabetes and cardiovascular diseases, there is an increasing need for essential medical services, including medication management and continuous monitoring.
Advancements in medical technology now enable many treatments to be administered at home, providing patients with a more comfortable and convenient care environment. This is significantly fueling the growth of skilled home care services within the broader home healthcare market.
Key Questions Answered
- How is the home healthcare market evolving?
- What is driving and restraining the home healthcare market?
- How will each home healthcare submarket segment grow over the forecast period and how much revenue will these submarkets account for in 2034?
- How will the market shares for each home healthcare submarket develop from 2024 to 2034?
- What will be the main driver for the overall market from 2024 to 2034?
- Will leading home healthcare markets broadly follow the macroeconomic dynamics, or will individual national markets outperform others?
- How will the market shares of the national markets change by 2034 and which geographical region will lead the market in 2034?
- Who are the leading players and what are their prospects over the forecast period?
- What are the home healthcare projects for these leading companies?
- How will the industry evolve during the period between 2024 and 2034? What are the implications of home healthcare projects taking place now and over the next 10 years?
- Is there a greater need for product commercialisation to further scale the home healthcare market?
- Where is the home healthcare market heading and how can you ensure you are at the forefront of the market?
- What are the best investment options for new product and service lines?
- What are the key prospects for moving companies into a new growth path and C-suite?
Forecasts to 2034 and other analyses reveal commercial prospects
- In addition to revenue forecasting to 2034, the new study provides you with recent results, growth rates, and market shares.
- You will find original analyses, with business outlooks and developments.
- Discover qualitative analyses (including market dynamics, drivers, opportunities, and restraints), Porter's Five Forces
- Analysis, PEST Analysis and recent developments.
Home Healthcare Market Overview
Market Driving Factors
- Rising Demand for Cost-Effective and Patient-Centred Healthcare Solutions
- Technological Advancements in Telehealth and Remote Monitoring Devices
- Increasing Prevalence of Chronic Diseases Requiring Ongoing Home Care
- Growing Geriatric Population Preferring to Receive Care at Home
- Supportive Government Initiatives Promoting Home Healthcare Services
Market Restraining Factors
- Challenges Related to Reimbursement Policies for Home Healthcare Services
- Regulatory Hurdles Impacting the Approval and Usage of Home Care Products
- Limited Awareness and Acceptance of Home Healthcare Solutions Among Patients
Market Opportunities
- Expansion of Digital Health Solutions Enhancing Remote Patient Management
- Increasing Partnerships Between Healthcare Providers and Technology Companies
- Growing Interest in Preventive Healthcare and Wellness Programs
Emerging Markets and Megatrends
Porter's Five Forces Analysis
PEST Analysis
Leading companies and the potential for market growth
- Abbott
- Amedisys
- Owens & Minor, Inc.
- B. Braun Medical Ltd.
- Baxter
- BAYADA Home Health Care
- Koninklijke Philips N.V.
- Fisher & Paykel Healthcare Limited
- Fresenius Medical Care AG
- GE HealthCare
- Johnson & Johnson Services, Inc.
- OMRON Corporation
- McKesson Medical-Surgical Inc.
- Medline
- Medtronic
- 3M Health Care
- ARKRAY, Inc.
- BD
- Invacare Corporation
- Hollister Incorporated
- Convatec Group PLC
Segments Covered in the Report
Type
- Product
- Diagnostic: Blood Glucose Monitors, Pulse Oximeters, Blood Pressure Monitors, Others
- Treatment: Home Dialysis Machine, Infusion Pumps, Nebulizers, Oxygen Concentrators, Wheelchairs & Scooters, Walking Aid Devices, Others
- Services
- Skilled Home Healthcare: Physician Primary Care, Nursing Care, Physical/Occupational/Speech Therapy, Nutritional Support & Infusion Therapy, Hospice & Palliative, Others
- Unskilled Home Healthcare
Indication
- Cardiovascular Disorder & Hypertension
- Diabetes & Kidney Disorders
- Neurological & Mental Disorders
- Respiratory Disease & COPD
- Maternal Disorders
- Mobility Disorders
- Cancer
- Wound Care
- Others
North America
- U.S.
- Canada
Europe
- Germany
- UK
- France
- Italy
- Spain
- Rest of Europe
Asia Pacific
- Japan
- China
- India
- Australia
- South Korea
- Rest of Asia Pacific
Latin America
- Brazil
- Mexico
- Rest of Latin America
MEA
- GCC
- South Africa
- Rest of MEA
For more information about this report visit https://www.researchandmarkets.com/r/eylvic
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