Grand View Research, Inc. - Market Research And Consulting.According to a new report by Grand View Research, Inc the global home healthcare market size was valued at USD 281.8 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 7.9% from 2020 to 2027. Population aging around the world and increased patient preference for value-based healthcare are anticipated to fuel market growth.
The global home healthcare market size is anticipated to reach USD 515.6 billion by 2027, registering a CAGR of 7.9%, according to a new report by Grand View Research, Inc. This growth can be attributed to cost-efficiency, improved patient outcomes, and convenience offered by home healthcare agencies. In addition, rising geriatric population and growing prevalence of chronic diseases such as Alzheimer’s, dementia, and orthopedic conditions, is expected to drive market growth. As per the Population Reference Bureau data updated in June 2019, the number of people aged 65 years and above was 52 million in 2018 and is projected to double by 2060 to reach 95 million. The World Health Organization (WHO) statistics state that there are around 50 million dementia patients in the world with 10 million new cases getting added every year. This number is expected to reach 82 million by 2030.
Request For a Free Sample Copy of This Report, Click The Link:
https://www.grandviewresearch.com/industry-analysis/home-healthcare-industry/request/rs1
The elderly population is expected to outnumber the children population in the span, which is a demographic shift and poses to be a public health challenge. Besides, maintenance and establishment of hospitals and other healthcare settings need high capital investment. Some of the healthcare solutions providers are following merger and acquisition strategy to enter the market, in order to provide cost-effective service and leverage the expertise of the merged or acquired firm. Also, shifting trends toward in-home healthcare services for patients to avoid hospital stay is another key factor driving home healthcare market growth. In the past several years, the number of nursing facilities has reduced, while the in-home nursing programs have doubled.
Home Healthcare Market Report HighlightsServices dominated the component segment in 2019 attributed to the growing demand for skilled nurse in-home healthcare for services like physical and occupational therapy
Growing demand for the skilled nurses at home for rehabilitation service, wound dressings, tube feedings, and maintaining stable patient health drive the growth of this segment. Mainly, patients suffering major trauma due to accidents or those suffering from strokes opt for rehabilitation services for improving their way of talking, walking, and feeding themselves all over again
Key manufacturers operating in the market are Medline Industries, Inc.; McKesson Medical-Surgical Inc.; Medtronic Plc; Baxter International Inc.; Becton, Dickinson And Company; Cardinal Health; and GE Healthcare
The key service providers are Brookdale Senior Living, Inc.; Home Health Services Ltd.; Sunrise Carlisle, LP; Extendicare, Inc.; Care UK Limited; Senior Care Centers of America; Genesis Healthcare Corp.; Sompo Holdings, Inc.; Kindred Healthcare, Inc.; and Home Instead Senior Care, Inc. The key software solution providers are Allscripts Healthcare Solutions, Inc.; Epic Systems Corporation; Cerner; and McKesson Corporation
Have Inquiry before buying about this report, our team of analyst will be glad to help!
North America dominated the home healthcare market with a share of around 42% in 2019. In North America, U.S. held the largest market share in 2019 attributed to shifting trends towards in-home healthcare from the nursing homes, technological advancement, and presence of advanced medical infrastructure. In addition, high patient awareness levels coupled with increasing healthcare expenditure and the implementation of the streamlined regulatory framework are also driving the market in the region. Supportive initiatives by the Centers for Medicare and Medicaid Services are anticipated to propel market growth further.
Access complete Home Healthcare Market Report By Grand View Research, Inc.
Grand View Research has segmented the global home healthcare market based on components and Regions:
Home Healthcare Component Outlook (Revenue, USD Million; 2016 - 2027)
Equipment
Therapeutic
Home respiratory therapy equipment
Insulin delivery devices
Home IV pumps
Home dialysis equipment
Others
Diagnostic
Diabetic care unit
BP monitors
Multi para diagnostic monitors
Home pregnancy and fertility kits
Apnea and sleep monitors
Holter monitors
Heart rate meters
Other
Mobility Assist
Wheel chair
Home medical furniture
Walking assist devices
Services
Skilled home healthcare
Physician/primary care
Nursing care
Physical, occupational, and/or speech therapy
Nutritional support
Hospice & palliative care
Other skilled home care services
Unskilled home healthcare
Home Healthcare Regional Outlook (Revenue, USD Million, 2016 - 2027)
North America
U.S.
Canada
Europe
UK
Germany
Sweden
France
Italy
Russia
Netherlands
Spain
Asia Pacific
Japan
China
India
Australia
Singapore
Thailand
Philippines
Korea
Malaysia
Latin America
Brazil
Mexico
Argentina
Middle East & Africa
South Africa
Saudi Arabia
Oman
Egypt
UAE
List of Key Players in the Home Healthcare Market:
Manufacturers:-
McKesson Medical-Surgical Inc.
Fresenius Medical Care
Medline Industries, Inc.
Medtronic PLC
3M Healthcare
Baxter International Inc.
B. Braun Melsungen AG
Arkray, Inc.
F. Hoffmann-La Roche AG
Becton, Dickinson And Company
Acelity L.P.
Hollister Inc.
ConvaTec Group PLC
Molnlycke Health Care
Service Providers:-
Brookdale Senior Living, Inc.
Home Health Services Ltd.
Sunrise Carlisle, LP
Extendicare, Inc.
Care UK Limited
Senior Care Centers of America
Genesis Healthcare Corp.
Sompo Holdings, Inc.
Kindred Healthcare, Inc.
Home Instead Senior Care, Inc.
Check out special pricing options for sectional purchase and startup companies
About Grand View Research
Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research Guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.
Media Contact
Company Name: Grand View Research, Inc.
Contact Person: Sherry James, Corporate Sales Specialist - U.S.A.
Email: Send Email
Phone: 1-415-349-0058, Toll Free: 1-888-202-9519
Address:201, Spear Street, 1100
City: San Francisco
State: California
Country: United States
Website: https://www.grandviewresearch.com/industry-analysis/home-healthcare-industry