Home Healthcare Market Size to Reach Revenues of around USD 390 Billion by 2026 - Arizton

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May 13, 2021, 09:00 ET

CHICAGO, May 13, 2021 /PRNewswire/ -- In-depth analysis and data-driven insights on the impact of COVID-19 included in this global home healthcare market report.

The home healthcare market is expected to grow at a CAGR of around 6% during the period 2020−2026.

Key Highlights Offered in the Report:

Several trends in healthcare such as increasing demand of on-demand healthcare services, increasing demand of preventive healthcare devices, and adoption of patient-centric model in healthcare are expected to drive the growth of home healthcare market.
The effect of COVID-19 has been slightly negative on global home healthcare market, but during the forecast period it expected boost this growth. This is because of the shift towards preventive healthcare and fueled the demand of contact-less thermometers and pulse oximeters during the pandemic.
North America region has the highest market share in home healthcare market with an absolute growth of 38%, which is attributed by its mature healthcare sector and high awareness towards personal health in population.
The global home healthcare market is segmented as home healthcare devices segment and home healthcare services segment and services segment accounted for almost 72% market share.
The diagnostic and monitoring devices are widely used in home healthcare, as they are useful in monitoring several chronic diseases such as diabetes, hypertension, heart diseases, etc. They are also useful in monitoring several vital signs such as body temperature, blood oxygen levels, and in monitoring sleep patterns of a person and the segment accounted for around 54% to the global home healthcare devices market.
In home healthcare services market, the skilled nursing services accounted for a market share of 36% in 2020.
Cardiovascular diseases occupied the highest market share of over 18% in global home healthcare market in 2020.

Key Offerings:

Market Size & Forecast by Revenue | 2020−2026
Market Dynamics – Leading trends, growth drivers, restraints, and investment opportunities
Market Segmentation – A detailed analysis by products, indication, and geography
Competitive Landscape – 16 key vendors and 29 other vendors

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Home Healthcare Market – Segmentation

The home healthcare services market accounted for the highest share of over 72% in 2020. Home services help provide the patients suffering from chronic diseases or are affected by any disability. Skilled nursing, diagnostics & monitoring, therapeutic, infusion therapy, and home health aide services are the major services offered under the services segment.
The global home healthcare devices market is growing at a CAGR of over 6% during the forecast period. Home use medical devices are observing demand as the awareness in the population toward home healthcare is growing. The devices segment accounted for the home healthcare market share of approx. 28% in 2020, the segment is likely to increase its market share in 2026.
The orthopedic disease segment captured over 16% of the global home healthcare market share. Home care services mainly dominate the orthopedic disease segment as they aid in daily life for people suffering from mobility challenges and musculoskeletal abnormalities. The increasing burden of orthopedic diseases across the globe is a significant impetus for the growth of orthopedic home healthcare services, especially in countries with a high percentage of the elderly population.

Home Healthcare Market by Product

Devices

Diagnostic and Monitoring devices
Therapeutic devices
Rehabilitation devices

Services

Skilled Nurse Services
Diagnostic and Monitoring Services
Therapeutic Services
Infusion Therapy Services
Home Health Aides Services
Others

Home Healthcare Market by Indication

Cardiovascular disease
Orthopedic Disease
Metabolic Diseases
Respiratory/Pulmonary Disease
Neurovascular Disease
Kidney Disease
Mobility Disorder
Others

Home Healthcare Market – Dynamics

On-demand healthcare services are popular as they are consumer-centric, easy to access and provide satisfactory services. These services are available in the travel industry, food industry, and transport industry. They are evolving in the healthcare industry as one of the fastest-growing trends. At present, people are expecting service to be available on their demand. Hence, many healthcare service providers have started on-demand healthcare services. One of the most popular examples is on-demand pharmacy apps. These apps let users get pharmaceutical products on-demand delivered to their homes. Telemedicine and telehealth platforms provide on-demand virtual healthcare services that let people book appointments with physicians of their choice to get the required medical consultation.

Key Drivers and Trends fueling Market Growth:

Shift to Patient-Centric Model
On-Demand Healthcare Services
Technological Advances in Home Healthcare Products
Low Risk of Hospital Readmission & Fall Injuries

Home Healthcare Market – Geography

North America includes countries such as the US and Canada that have advanced healthcare systems and high awareness of personal health. Most key vendors of the home healthcare market are native to the US. The major home healthcare service providers are from the US, which has attributed to its higher market share on a global scale. Hence, North America is expected to retain its position in the global home healthcare market. However, as the market is reached maturity, the market share is expected to be throughout the forecast period. The region is expected to show an incremental growth of over USD 43 billion during the forecast period, which is the highest value when compared with the incremental growth of other regions.

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Home Healthcare Market by Geography

North America

US
Canada

Europe

UK
Germany
France
Italy
Spain

APAC

China
India
Japan
South Korea
Australia

Latin America

Mexico
Brazil
Argentina

Middle East & Africa

Saudi Arabia
Turkey
South Africa

Major Vendors

Omron Corporation
Abbott
B. Braun Melsungen Ag
GE Healthcare
Medtronic
Koninklijke Philips N.V
A&D Company
Cardinal Health
Hoffmann-La Roche AG
Fresenius SE & Co. KGaA
Air Liquide
Kindred Healthcare LLC
Bayada Home Health Care
Amedisys
LHC Group, Inc.
Encompass Health Corporation

Other Prominent Vendors

Advita Pflegedienst GmbH
Healthcare at Home
Privatassistenza
Portea
NIHON KOHDEN
OSI Systems
Shenzhen Mindray Bio-Medical Electronics
Contec Medical Systems
Drägerwerk
EPSIMED
GUANGDONG BIOLIGHT MEDITECH
Kizlonmedical
Mediana
MEDION HEALTHCARE
SCHILLER
Skanray Technologies
Baxter International
CardioMed Supplies
Merit Medical Systems
MITRA INDUSTRIES
Angiplast
Lifeline Services
Health Line International
Newsol Technologies
Poly Medicure
Terumo
Utah Medical Products
Medcomp
Renax Biomedical Tech

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About Arizton:

Arizton Advisory and Intelligence is an innovation and quality-driven firm, which offers cutting-edge research solutions to clients across the world. We excel in providing comprehensive market intelligence reports and advisory and consulting services.

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SOURCE Arizton Advisory & Intelligence