Home Healthcare Market Outlook 2023-2028:
IMARC Group’s latest report, titled “Home Healthcare Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028”, the global home healthcare market size reached US$ 360.2 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 599.9 Billion by 2028, exhibiting a growth rate (CAGR) of 9.02% during 2023-2028.
Home Healthcare Market Management:
Home healthcare involves various medical or non-medical professional services that allow caregivers to offer several nursing, medical, and physical therapies to patients in residential settings to treat diseases or injuries. It uses therapeutic diagnostic, mobility care, medical kits, and common dose administration equipment as standard devices that are utilized in infusion, rehabilitation, and respiratory therapies. Compared to hospitals, home healthcare is more cost-effective and comfortable and provides intensive care, better treatment outcomes, and access to friends, nurses, and family during psychological trauma or surgeries. In addition, it ensures medication management, reduces the risk of infections, supports activities of daily living, offers customized and personalized services, and improves health with initial treatments. As a result, home healthcare is extensively utilized by hospitals, clinics, and sole traders to deliver quality and treat wound care, diabetes, cancer, and hypertension indications.
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Home Healthcare Market Growth and Advantages:
The escalating prevalence of various chronic and cardiovascular disorders (CVDs), owing to the rising instances of communicable diseases in individuals, is among the primary factors driving the home healthcare market. Besides this, the increasing need for effective treatments at reduced hospitalization costs, such as telehealth, and the high shortages of intensive care units (ICUs) in hospitals are further augmenting the market growth. Moreover, the introduction of innovative home healthcare monitoring technologies, including pulse oximeters and temperature and blood pressure assessment solutions, and the integration of the internet of things (IoT), point-of-care devices, and wearable gadgets are also catalyzing the global market. Apart from this, the expanding medical infrastructure, the launch of several policies by the government bodies, and the emerging trend of nursing care systems are acting as significant growth-inducing factors. Furthermore, the development of at-home diagnostics kits with self-administered testing solutions is anticipated to propel the home healthcare market over the forecasted period.
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Competitive Landscape with Key Players:
The competitive landscape of the industry has also been examined along with the profiles of the key players being
- A&D Company Limited
- Addus HomeCare Corporation
- Amedisys Inc
- B. Braun Melsungen AG
- Baxter International Inc
- Becton Dickinson and Company
- Fresenius Medical Care AG & Co.
- KGaA
- Invacare Corporation
- Koninklijke Philips N.V
- McKesson Corporation
- Medline Industries LP
- OMRON Healthcare Inc. (Omron Corporation)
- ResMed Inc
Key Market Segmentation:
Breakup by Product:
- Therapeutic Products
- Testing, Screening, and Monitoring Products
- Mobility Care Products
Breakup by Service:
- Skilled Nursing
- Rehabilitation Therapy
- Hospice & Palliative Care
- Unskilled Care
- Respiratory Therapy
- Infusion Therapy
- Pregnancy Care
Breakup by Indication:
- Cancer
- Respiratory Diseases
- Movement Disorders
- Cardiovascular Diseases & Hypertension
- Pregnancy
- Wound Care
- Diabetes
- Hearing Disorders
- Others
Breakup by Region:
- North America (United States, Canada)
- Europe (Germany, France, United Kingdom, Italy, Spain, Others)
- Asia Pacific (China, Japan, India, Australia, Indonesia, Korea, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa (United Arab Emirates, Saudi Arabia, Qatar, Iraq, Other)
Key Highlights of the Report:
- Market Performance (2017-2022)
- Market Outlook (2023-2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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