Europe Home Healthcare Market

Europe Home Healthcare Market Size, Share, Growth Analysis, By Product type(therapeutic, diagnostic), By Indication type(diabetes, pregnancy) - Industry Forecast 2024-2031

Report ID: SQMIR35D2243 | Region: Regional | Published Date: February, 2024
Pages: 241 | Tables: 67 | Figures: 75

Europe Home Healthcare Market Insights

Europe Home Healthcare Market size was valued at USD 176.61 billion in 2019 and is poised to grow from USD 191.8 billion in 2023 to USD 371.09 billion by 2031, growing at a CAGR of 8.6% in the forecast period (2024-2031).

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.

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Europe Home Healthcare Market size was valued at USD 176.61 billion in 2019 and is poised to grow from USD 191.8 billion in 2023 to USD 371.09 billion by 2031, growing at a CAGR of 8.6% in the forecast period (2024-2031).

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. 'Fresenius SE & Co. KGaA', 'Philips Healthcare', 'Medline Industries, Inc.', 'B. Braun Melsungen AG', 'Air Liquide S.A.', 'Becton, Dickinson and Company', 'Convatec Group Plc', 'Hill-Rom Holdings, Inc.', 'Linde AG', 'Abbott Laboratories', 'Roche Holding AG', 'Siemens Healthineers AG', 'Cardinal Health, Inc.', 'Medtronic plc', 'Johnson & Johnson', 'Baxter International Inc.', 'General Electric Company', '3M Company', 'Smith & Nephew plc', 'Danaher Corporation'

Newer technology has greatly boosted the current flow of communication between patients and healthcare professionals, enabling better, quicker, and more efficient care. The successful fusion of medical devices and information and communication technology (ICT), for instance, as well as the provision of healthcare over long distances, are what eventually fuel market expansion in remote patient monitoring.

The home healthcare market in Europe has expanded tremendously. A major factor in the market's growth has been the rising cost of healthcare, which has shifted the focus of treatment from hospitals to homes. The business is expanding even more quickly as a result of government attempts to improve home healthcare.

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.

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