The "Home Healthcare Market by Product (Dialysis Equipment, Ventilators, ECG, Canes, Wheelchairs, Activity Monitors, Nebulizers, BP Monitors), Service (Infusion Therapy, Skilled Nursing, Hospice), Indication, Region - Global Forecast to 2025" report has been added to ResearchAndMarkets.com's offering.
The global home healthcare market is projected to reach USD 274.73 billion by 2025 from USD 181.92 billion in 2020, at a CAGR of 8.6% during the forecast period.
The market growth is mainly driven by factors such as the rapid growth in the elderly population and the rising incidence of chronic diseases, growing need for cost-effective healthcare delivery due to the increasing healthcare costs, and technological advancements in-home care devices. On the other hand, changing reimbursement policies, limited insurance coverage, and concerns regarding patient safety are factors limiting the growth of the market to a certain extent. The growing popularity of telehealth and untapped developing regions present significant growth opportunities for players in the home healthcare market.
The cancer segment is expected to dominate the market during the forecast period.
Based on indication, the global home healthcare market is segmented into cancer, respiratory diseases, mobility disorders, cardiovascular diseases & hypertension, pregnancy, wound care, diabetes, hearing disorders, and other indications. The cancer segment accounted for the largest share of the home healthcare market in 2019. The large share of this segment can primarily be attributed to the high prevalence of cancer cases across the globe and the transforming healthcare system, which allows the management of cancer at home.
Testing, screening & monitoring segment will witness the highest growth in the home healthcare products market.
Based on products, the home healthcare market is segmented into testing, screening, and monitoring products; therapeutic products; and mobility care products. The testing, screening, and monitoring products are expected to witness the highest CAGR during the forecast period. The high growth of this segment can primarily be attributed to factors such as the rising emphasis on preventive medicine and an increasing number of patients with chronic diseases. The potential to reduce healthcare complications and ensure the portability of devices with high accuracy is also expected to create a significant demand for monitoring and testing devices in the coming year.
North America will dominate the market during the forecast period.
Geographically, the home healthcare market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2019, North America accounted for the largest share of the home healthcare market. The large share of this region in the global market is attributed to the rising prevalence of chronic conditions, high healthcare expenditure, high disposable income, the increasing overall geriatric population, high disposable income, and the presence of superior healthcare infrastructure.
Rising Aging Population, High Incidence of Chronic Diseases, and Need to Expand Healthcare Access
Increasing Healthcare Costs and the Growing Need for Affordable Treatment Options
Changing Reimbursement Policies
Limited Insurance Coverage
Patient Safety Concerns
Rising Focus on Telehealth
Untapped Developing Regions
Shortage of Home Care Workers
Advita Pflegedienst GmbH
Apex Medical Corp.
Bayada Home Health Care
Caremax Rehabilitation Equipment Co., Ltd.
Contec Medical Systems Co., Ltd
Drive Devilbiss Healthcare
GE Healthcare (Subsidiary of General Electric Company)
Hamilton Medical Ag
Kindred at Home
Koninklijke Philips N.V.
Lowenstein Medical Technology GmbH + Co. Kg.
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