Global Home Healthcare Market Outlook Report 2021-2026 | Surging Demand for Home Healthcare Monitoring Devices due to COVID-19

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Oct 15, 2021, 11:45 ET

DUBLIN, Oct. 15, 2021 /PRNewswire/ -- The "Global Home Healthcare Market Research Report: Forecast (2021-2026)" report has been added to ResearchAndMarkets.com's offering.

According to the report, the market is likely to grow at a CAGR of around 9.5% during 2021-2026, due to rising aging population, surging prevalence of chronic diseases, such as diabetes, ostomy, ulcers, etc.

Further, a gradual shift in delivering traditional healthcare services to homecare is another factor driving the market. Additionally, integration of medical devices and software, increase in the use of IoT in the medical field, and mounting adoption of remote monitoring solution presents lucrative opportunities to fuel the overall growth of the Home Healthcare Market across the globe.

Rising Geriatric Population Boosts Market Growth

The surging geriatric population accelerates the demand for home healthcare solutions and services; the elderly population is more prone to chronic diseases and cannot visit clinics or hospitals frequently. Home healthcare is beneficial for enhancing the overall access to healthcare services while reducing hospital readmissions.

Impact of COVID-19

The outbreak of the COVID-19 pandemic has positively impacted the growth of the Global Home Healthcare Market due to the surging demand for home healthcare monitoring devices like pulse oximeters, temperature monitors, blood pressure monitors, and blood glucose monitors. Further, increasing demand for home healthcare providers for the treatment of vulnerable and elderly populations fuels the growth of the Global Home Healthcare Market.

Services Accounted for the Largest Market Share

Based on the Product, the market bifurcates into Testing, Screening, & Monitoring Products, Health Maintenance and Promotion Devices, Diagnostic Devices, IT & Software, and Services. Among these segments, Services captured a significant share in the Global Home Healthcare Market in the previous few years due to the rising geriatric population worldwide needing healthcare assistance at home. Moreover, for better patient assistance and outcome, the demand for home healthcare services is increasing tremendously. Hence, these factors entwined with the mounting prevalence of chronic diseases are fueling the segment growth.

Chronic Segment Dominated the Market

Based on the Purpose, the market segments into Chronic, Infectious, and Nutrition & General Consultancy. In the past few years, the Chronic segment generated the highest revenue in the Global Home Healthcare Market. The segment growth owes to the rising prevalence of chronic diseases, increasing aging population, and massive healthcare costs. The adoption of home healthcare services is beneficial for preventing complications and recovers if complications occur. It also helps in providing home care aides and assistance whenever needed.

North America Attained the Highest Market Share

Geographically, North America held the largest share in the Global Home Healthcare Market in the previous few years due to the increasing prevalence of chronic diseases entwined with the surging overall elderly population. In addition to this, high disposable income, advanced healthcare infrastructure, and high healthcare expenditure are other critical aspects factors fueling the market growth in North America.

Key Questions Answered

What are the overall market statistics or estimates (Market Overview, Market Size - by Value, Forecast Numbers, Market Segmentation, and Market Shares) of the Global Home Healthcare Market?
What is the region-wise industry size, growth drivers, and challenges?
What are the key innovations, opportunities, current & future trends, and regulations in the Global Home Healthcare Market?
Who are the key competitors, their key strengths & weaknesses, and how they perform in the Global Home Healthcare Market based on a competitive benchmarking matrix?
What are the key results derived from the market surveys conducted during the Global Home Healthcare Market study?

Major Players Profiled

Fresenius SE & Co. KGaA
GE Healthcare
Linde plc
F. Hoffmann-La Roche Ltd.
Amedisys
Kindred at Home
LHC Group Inc.
Asensus Surgical Inc.
Caremax Rehabilitation Equipment Co. Ltd.
Vitalograph
Advita Pflegedienst GmbH
RENAFAN GmbH

For more information about this report visit https://www.researchandmarkets.com/r/ipkb1u

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