Global Home Healthcare Market

Home Healthcare Market Size, Share, Growth Analysis, By Product(Dialysis Equipment, IV Equipment), By Service(Infusion Therapy, Skilled Nursing), By Indication(Cancer, Wound Care), By Component({Therapeutic (Home respiratory therapy equipment, Insulin delivery devices) - Industry Forecast 2024-2031


Report ID: SQMIG35D2002 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 128 | Figures: 77

Home Healthcare Market Insights

Home Healthcare Market size was valued at USD 335.56 billion in 2019 and is poised to grow from USD 362.1 billion in 2023 to USD 666.9 billion by 2031, growing at a CAGR of 7.96% in the forecast period (2024-2031).

The patient-centric approach of home healthcare has several benefits such as enhanced patient results, long-term care, cost proficiency, end of superfluous hospitalization. Due to the rising trend to use home health care owing to its benefit, the Home Healthcare Market will show positive growth. In terms of services, the services of skilled nursing care had the largest revenue and growth share in 2019. The main factor contributing to the growth was the insurance coverage of such services and the possibility to have these services at home.

The changing demographics in terms of age and the rising preference for value-based services will boost the Home Healthcare Market growth. The demand for at-home health services is more among the aging population, which increases the demand for healthcare providers. Another factor that affects Home Healthcare Market growth is government support. The number of acquisitions taking place in the Home Healthcare Market also boosts the growth.

US Home Healthcare Market is poised to grow at a sustainable CAGR for the next forecast year.

Market snapshot - 2024-2031

Global Market Size

USD 335.56 billion

Largest Segment

therapeutic

Fastest Growth

therapeutic

Growth Rate

7.96% CAGR

Europe Home Healthcare Market ($ Bn)
States Share for Germany Country (%)
Europe Home Healthcare Market By Product ($ Bn)
Europe Home Healthcare Market By Product (%)

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Home Healthcare Market Segmental Analysis

The Global Home Healthcare Market is segmented based on Product, Service, Indication and Region. Based on Product it is categorized into Dialysis Equipment, IV Equipment, Ventilators, Coagulation Monitors, Peak Flow Meters. Based on Service it is categorized into Infusion Therapy, Skilled Nursing, Hospice. Based on Indication it is categorized into Cancer, Wound Care, Diabetes. Based on Region it is categorized into: North America, Europe, Asia-Pacific, South America, and MEA.

Home Healthcare Market Analysis by Indication

In 2021, the diabetes category held the maximum Home Healthcare Market share. The rising number of diabetic patients is to blame for this segment's rapid expansion. Monitoring blood sugar at home aids in the development of an overall diabetes treatment plan as well as the management of blood sugar medications, nutrition, and exercise. As the aging population is more prone to diabetic diseases, the growth of the aging population segment will increase demand for healthcare and place a significant burden on governments and health systems. This will benefit the home healthcare sector, which can improve overall reach and access to healthcare while lowering unnecessary visits, hospital admissions and readmissions, and the time and costs associated with traveling to meet with healthcare providers.

Europe Home Healthcare Market By Product, 2019 (%)

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Home Healthcare Market Regional Insights

North America dominated the home healthcare Home Healthcare Market with a share of more than 40% in 2021. In North America, the U.S. held the largest market share in 2021. Germany held the largest Home Healthcare Market share in Europe in 2021, followed by France. This is mainly due to increasing expenditure towards in-home healthcare in the country and the growing demand for the skilled nursing workforce for in-house care. The Asia Pacific is also expected to register positive growth in the upcoming years.

Europe Home Healthcare Market By Geography, 2024-2031
  • Largest
  • Fastest

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Home Healthcare Market Dynamics

Home Healthcare Market Driver

  • The number of patients infected with the novel coronavirus who have respiratory problems is significantly high and growing at an alarming rate. COVID-19 may cause acute respiratory distress syndrome (ARDS) in severe cases, resulting in significant lung damage. With the ongoing pandemic and India's strict lockdown, non-emergent home healthcare services are a safer and more cost-effective alternative to hospital services. Patients with chronic diseases such as cancer, chronic obstructive pulmonary disease (COPD), arthritis, and diabetes may not want to go to the hospital.
  • Increased patient demand for home-based treatments has stemmed from rising health spending. Patients' in-home care settings include nebulizers, ventilators, and continuous positive airway pressure (CPAP) devices to treat, diagnose, and monitor various respiratory disorders. Patients can receive cost-effective healthcare by using these devices in combination with home care services.
  • Along with the trends, Government initiatives and measures are also supporting the Home Healthcare Market growth. For instance, In Europe, the central government offers some reimbursement benefits for this service. People are free to choose the providers and even the type of healthcare. The US also recently launched the Well-Being Insurance for Seniors to be at Home (WISH) Act. This will help senior citizens to fund their long-term care services.

Home Healthcare Market Restraint

  • Factors such as lack of skilled workers and concerns about patients' safety might restrict the Home Healthcare Market growth. There may be situational variables that present risks to patients that may be difficult to remove. Hospitals have well-equipped environmental safety departments to take care of such instances. home healthcare is a booming Home Healthcare Market, with increasing demand for home care providers/workers. In light of the rising demand, there are fewer health care workers to meet the rising demand of the consumers.

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Home Healthcare Market Competitive Landscape

The Home Healthcare Market is characterized by a few well-established firms and also several small and medium-sized businesses. Many home health agencies and providers have experienced a drop in business. However, this downturn in the home healthcare market is only expected to last a short time, since the industry is expected to rise up faster in the future as more patients recover from COVID-19.

Companies can promote home healthcare as a clinically safer alternative to traditional inpatient services, such as ICU care and dialysis/chemotherapy, which require more clinical supervision. To enter the rural Home Healthcare Market, mature Home Healthcare Market players can form Public-Private Partnerships (PPPs). Various healthcare leaders have recommended fiscal and non-fiscal interventions for specific sectors, with a primary focus on services such as homecare, pathology labs, MedTech, insurance, and hospital diagnostics.

Home Healthcare Market Top Players Company Profiles

  • Fresenius SE & Co. KGaA
  • Amedisys Inc.
  • Bayada Home Health Care
  • CareCentrix
  • Gentiva Health Services Inc.
  • Home Healthcare Solutions Co.
  • Kindred Healthcare Inc.
  • LHC Group Inc.
  • National HealthCare Corporation
  • Omron Healthcare Inc.
  • Philips Healthcare
  • Roche Holding AG
  • Almost Family Inc.
  • Sunrise Medical Inc.
  • Abbott Laboratories Inc.
  • B. Braun Melsungen AG
  • Drive Medical Design & Manufacturing
  • Medline Industries Inc.
  • Teleflex Inc.
  • Welch Allyn Inc.

Home Healthcare Market Recent Developments

  • In May 2022, Sakra World Hospital teamed up with MyHealthcare to launch a patient-centered digital health ecosystem. The platform aims to provide patients with access to all Sakra World Hospital, Sakra Premium Clinic, and Sakra Homecare services from the comfort of their own homes.
  • In March 2022, LG Electronics teamed up with Amwell to create new digital health solutions aimed at improving patient access to care. LG will create a healthcare platform that will house services from Amwell's digital health platform Converge, Converge-integrated services, and other third-party tools that will run on LG devices.

Home Healthcare Key Market Trends

  • Technology will play an important in the home health market. The rising use of digital devices to monitor health at home is one of the emerging trends. home healthcare providers are now using big data, AI, and automation to make the consumer experience novel. With the help of big data, it is possible to recognize patterns among the patients, which will help in better treatment and diagnosis. Data analytics have been used to manage the flu epidemic and identify the strains to include in the flu vaccine. Software solutions and platforms are used for remote monitoring of health.
  • Owing to the pandemic, the home health care market will offer more growth opportunities. There is a trend towards the demand for companionship services. Home care agencies will double down on companionship services, pumping new money into old offerings. Clients, their families, and potential referral sources will seek out those agencies that do companionship well.
  • Home health care providers are now shifting towards franchising. Many players in the Home Healthcare Market have already started franchising and have seen significant growth. For example, Synergy HomeCare announced the sale of 35% more territories in 2020 compared to 2019. Home care franchise growth will not only come from new players entering the market but, there will also be more independent-to-franchise conversions.

Home Healthcare Market SkyQuest Analysis

SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates and Analyses the Data collected by means of Primary Exploratory Research backed by the robust Secondary Desk research. SQ identified the key dominating segments of the Home Healthcare Market by offerings and verticals.

According to our analysis, as the aging population is becoming more prone to chronic diseases, the demand for healthcare will rise, putting a significant strain on governments and healthcare systems. This will boost the home healthcare sector, which can improve overall reach and access to healthcare while lowering unnecessary visits, hospital admissions and readmissions, and the time and costs associated with traveling to meet healthcare experts.

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Report Metric Details
Market size value in 2019 USD 335.56 billion
Market size value in 2031 USD 666.9 billion
Growth Rate 7.96%
Base year 2023
Forecast period 2024-2031
Forecast Unit (Value) USD Billion
Segments covered
  • Product
    • Dialysis Equipment, IV Equipment, Ventilators, Coagulation Monitors, Peak Flow Meters
  • Service
    • Infusion Therapy, Skilled Nursing, Hospice
  • Indication
    • Cancer, Wound Care, Diabetes
  • Component
    • {Therapeutic (Home respiratory therapy equipment, Insulin delivery devices, Home IV pumps, Home dialysis equipment, Others) and Diagnostic (Diabetic care unit, BP monitors, Multi para diagnostic monitors, Home pregnancy and fertility kits, Apnea and sleep monitors, Holter monitors, Heart rate monitors, Others)}
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)
Companies covered
  • Fresenius SE & Co. KGaA
  • Amedisys Inc.
  • Bayada Home Health Care
  • CareCentrix
  • Gentiva Health Services Inc.
  • Home Healthcare Solutions Co.
  • Kindred Healthcare Inc.
  • LHC Group Inc.
  • National HealthCare Corporation
  • Omron Healthcare Inc.
  • Philips Healthcare
  • Roche Holding AG
  • Almost Family Inc.
  • Sunrise Medical Inc.
  • Abbott Laboratories Inc.
  • B. Braun Melsungen AG
  • Drive Medical Design & Manufacturing
  • Medline Industries Inc.
  • Teleflex Inc.
  • Welch Allyn Inc.
Customization scope

Free report customization with purchase. Customization includes:-

  • Segments by type, application, etc
  • Company profile
  • Market dynamics & outlook
  • Region

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Table Of Content

Executive Summary

Market overview

  • Exhibit: Executive Summary – Chart on Market Overview
  • Exhibit: Executive Summary – Data Table on Market Overview
  • Exhibit: Executive Summary – Chart on Home Healthcare Market Characteristics
  • Exhibit: Executive Summary – Chart on Market by Geography
  • Exhibit: Executive Summary – Chart on Market Segmentation
  • Exhibit: Executive Summary – Chart on Incremental Growth
  • Exhibit: Executive Summary – Data Table on Incremental Growth
  • Exhibit: Executive Summary – Chart on Vendor Market Positioning

Parent Market Analysis

Market overview

Market size

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • SWOT Analysis

KEY MARKET INSIGHTS

  • Technology Analysis
    • (Exhibit: Data Table: Name of technology and details)
  • Pricing Analysis
    • (Exhibit: Data Table: Name of technology and pricing details)
  • Supply Chain Analysis
    • (Exhibit: Detailed Supply Chain Presentation)
  • Value Chain Analysis
    • (Exhibit: Detailed Value Chain Presentation)
  • Ecosystem Of the Market
    • Exhibit: Parent Market Ecosystem Market Analysis
    • Exhibit: Market Characteristics of Parent Market
  • IP Analysis
    • (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
  • Trade Analysis
    • (Exhibit: Data Table: Import and Export data details)
  • Startup Analysis
    • (Exhibit: Data Table: Emerging startups details)
  • Raw Material Analysis
    • (Exhibit: Data Table: Mapping of key raw materials)
  • Innovation Matrix
    • (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
  • Pipeline product Analysis
    • (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
  • Macroeconomic Indicators

COVID IMPACT

  • Introduction
  • Impact On Economy—scenario Assessment
    • Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
  • Revised Market Size
    • Exhibit: Data Table on Home Healthcare Market size and forecast 2021-2027 ($ million)
  • Impact Of COVID On Key Segments
    • Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
  • COVID Strategies By Company
    • Exhibit: Analysis on key strategies adopted by companies

MARKET DYNAMICS & OUTLOOK

  • Market Dynamics
    • Exhibit: Impact analysis of DROC, 2021
      • Drivers
      • Opportunities
      • Restraints
      • Challenges
  • Regulatory Landscape
    • Exhibit: Data Table on regulation from different region
  • SWOT Analysis
  • Porters Analysis
    • Competitive rivalry
      • Exhibit: Competitive rivalry Impact of key factors, 2021
    • Threat of substitute products
      • Exhibit: Threat of Substitute Products Impact of key factors, 2021
    • Bargaining power of buyers
      • Exhibit: buyers bargaining power Impact of key factors, 2021
    • Threat of new entrants
      • Exhibit: Threat of new entrants Impact of key factors, 2021
    • Bargaining power of suppliers
      • Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
  • Skyquest special insights on future disruptions
    • Political Impact
    • Economic impact
    • Social Impact
    • Technical Impact
    • Environmental Impact
    • Legal Impact

Market Size by Region

  • Chart on Market share by geography 2021-2027 (%)
  • Data Table on Market share by geography 2021-2027(%)
  • North America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • USA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Canada
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Europe
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Germany
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Spain
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • France
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • UK
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Europe
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Asia Pacific
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • China
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • India
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Japan
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Korea
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of Asia Pacific
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Latin America
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • Brazil
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of South America
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
  • Middle East & Africa (MEA)
    • Chart on Market share by country 2021-2027 (%)
    • Data Table on Market share by country 2021-2027(%)
    • GCC Countries
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • South Africa
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)
    • Rest of MEA
      • Exhibit: Chart on Market share 2021-2027 (%)
      • Exhibit: Market size and forecast 2021-2027 ($ million)

KEY COMPANY PROFILES

  • Competitive Landscape
    • Total number of companies covered
      • Exhibit: companies covered in the report, 2021
    • Top companies market positioning
      • Exhibit: company positioning matrix, 2021
    • Top companies market Share
      • Exhibit: Pie chart analysis on company market share, 2021(%)

Methodology

For the 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 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.

Analyst Support

Customization Options

With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Home Healthcare Market:

Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.

Regional Analysis: Further analysis of the Home Healthcare Market for additional countries.

Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.

Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.

Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.

Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.

Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.

Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.

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FAQs

Home Healthcare Market size was valued at USD 335.56 billion in 2019 and is poised to grow from USD 362.1 billion in 2023 to USD 666.9 billion by 2031, growing at a CAGR of 7.96% in the forecast period (2024-2031).

Home Healthcare Market Recent Developments 'Fresenius SE & Co. KGaA', 'Amedisys Inc.', 'Bayada Home Health Care', 'CareCentrix', 'Gentiva Health Services Inc.', 'Home Healthcare Solutions Co.', 'Kindred Healthcare Inc.', 'LHC Group Inc.', 'National HealthCare Corporation', 'Omron Healthcare Inc.', 'Philips Healthcare', 'Roche Holding AG', 'Almost Family Inc.', 'Sunrise Medical Inc.', 'Abbott Laboratories Inc.', 'B. Braun Melsungen AG', 'Drive Medical Design & Manufacturing', 'Medline Industries Inc.', 'Teleflex Inc.', 'Welch Allyn Inc.'

The number of patients infected with the novel coronavirus who have respiratory problems is significantly high and growing at an alarming rate. COVID-19 may cause acute respiratory distress syndrome (ARDS) in severe cases, resulting in significant lung damage. With the ongoing pandemic and India's strict lockdown, non-emergent home healthcare services are a safer and more cost-effective alternative to hospital services. Patients with chronic diseases such as cancer, chronic obstructive pulmonary disease (COPD), arthritis, and diabetes may not want to go to the hospital.

Technology will play an important in the home health market. The rising use of digital devices to monitor health at home is one of the emerging trends. home healthcare providers are now using big data, AI, and automation to make the consumer experience novel. With the help of big data, it is possible to recognize patterns among the patients, which will help in better treatment and diagnosis. Data analytics have been used to manage the flu epidemic and identify the strains to include in the flu vaccine. Software solutions and platforms are used for remote monitoring of health.

North America dominated the home healthcare Home Healthcare Market with a share of more than 40% in 2021. In North America, the U.S. held the largest market share in 2021. Germany held the largest Home Healthcare Market share in Europe in 2021, followed by France. This is mainly due to increasing expenditure towards in-home healthcare in the country and the growing demand for the skilled nursing workforce for in-house care. The Asia Pacific is also expected to register positive growth in the upcoming years.

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