USD 176.61 billion
Report ID: SQMIG35D2064 | Region: Global | Published Date: March, 2023 | Pages: 241 | Tables: 67 | Figures: 75
Europe Home Healthcare Market size was valued at USD 176.61 billion in 2021 and is poised to grow from USD 191.8 billion in 2022 to USD 371.09 billion by 2030, growing at a CAGR of 8.6% in the forecast period (2023-2030).
The escalating desire for home healthcare settings among patients and healthcare professionals, as well as the growing attention to telehealth, are credited with driving the market expansion in Europe. Insufficient insurance coverage and worries about patient safety are, however, to some extent impeding market expansion. The term "home health care" refers to a broad range of medical services offered for treating ailments at home. The government's increasing encouragement of the introduction of products needed for the construction of home care settings is one of the main drivers of the growth of the home healthcare industry in Europe.
Hospital-at-home initiatives have received support from nations like the UK and Germany because they give hospitals the freedom to give patients hospital-quality care at home. The industry for home care settings has also grown as a result of several product launches, alliances, and developments by key market players. As a result, these market players' strategies are probably going to accelerate market growth in the upcoming years. In order to enhance outcomes at lower costs, health systems in European nations are embracing telehealth as a way to expand care at homes. This is probably going to drive the development of more transportable and reasonably priced home healthcare equipment.
Europe Home Healthcare Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Market Size
USD 176.61 billion
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The Europe Home Health care market is segmented into product type, indication type, and region. By product type , Europe Home Healthcare Market is divided into the therapeutic, diagnostic, and mobility assist. On the basis of indication, diabetes, pregnancy, wound care, cancer, respiratory diseases, mobility impairments, and other indications. By region, the Europe Home Healthcare Market is segmented into North America, Latin America, Europe, Asia Pacific, and MEA.
Europe Home Healthcare Market Analysis by Type
The therapeutic, diagnostic, and mobility assist product categories are divided into the Europe home healthcare market. In 2022, the therapeutic segment held the highest market share. However, it is predicted that during the forecast period, the diagnostic category will see the highest CAGR.
Europe Home Healthcare Market Analysis by Indication
The Europe home healthcare market is divided into indications for diabetes, pregnancy, wound care, cancer, respiratory diseases, mobility impairments, and other indications. In 2022, the cancer segment had the biggest market share. However, it is projected that throughout the projection period, the market's category for mobility disorders would see the highest CAGR.
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In 2022, Germany will lead the European market for home healthcare. A significant portion of the population in this area is elderly, and there is also a well developed healthcare system and relatively greater levels of disposable income. Several factors are anticipated to propel the market throughout the projected period, including the expanding geriatric population in major economies like Germany, the U.K., France, and Italy as well as the presence of significant unexplored potential in Eastern Europe.
The demand for home medical care may also increase due to changes in Europe's social and demographic makeup. Universal long-term care insurance is available in some European nations. Additionally, the tax-based system in England is emphasising the provision of services for patient rehabilitation and reablement. Over the course of the projection period, these elements are anticipated to produce profitable market growth in Europe.
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Europe Home Healthcare Market Drivers
Demand for Distant Healthcare to Bolster Market Growth
Europe Home Healthcare Market Restraints
Limitations applied in the Home Healthcare to Hinder Market Growth
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Due to the existence of numerous foreign and local companies, the European home care industry is highly fragmented. Additionally, it is predicted that the consolidation efforts made by global corporations will intensify rivalry among emerging and regional market competitors.
Europe Home Healthcare Market Top Player's Company Profiles
Europe Home Healthcare Market Recent Developments
SkyQuest’s ABIRAWA (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Correlates, and Analyses the Data collected utilizing Primary Exploratory Research backed by the robust Secondary Desk research.
According to our Europe home healthcare market analysis, The sector includes a wide range of medical treatments for illnesses. Injuries are treated and the patient's general health is improved with the help of home healthcare. These services are more practical and more reasonably priced, and they are beneficial for patients with chronic illnesses, the elderly, nutrition treatment, and serious illnesses. The need for home-based treatment is rising quickly as COVID-19 continues to wreak havoc on healthcare facilities. The COVID-19 pandemic has had a conflicting effect on the European home healthcare industry. Some of the most popular home healthcare monitoring devices include blood glucose monitors, blood pressure monitors, pulse oximeters, and temperature monitors.
|Market size value in 2021||USD 176.61 billion|
|Market size value in 2030||USD 191.8 billion|
|Forecast Unit (Value)||USD Billion|
|Regions covered||North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA)|
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Parent Market Analysis
KEY MARKET INSIGHTS
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For the Europe Home Healthcare Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Europe Home Healthcare Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
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