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Global Home Healthcare Market Share, Size, Analysis, Research: By Product Type: Devices, Services, Software; By Diseases Type: Heart Diseases, Hypertension, Bone and Joint Diseases, Diabetes, Chronic Obstructive Pulmonary Diseases, Obesity, Others; By Distribution Channel; Regional Analysis; Patent Analysis; Supplier Landscape; 2023-2031
Global Home Healthcare Market Outlook
The global home healthcare market attained a value of USD 298.3 billion in 2022 and is likely to grow at a CAGR of 10.10% during the forecast period of 2023-2031. With this growth rate, the market is anticipated to attain a value of USD 710.5 billion by 2031.
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News and Developments in the Market
In September 2022, CVS Health (NYSE: CVS) confirmed its acquisition of home healthcare service provider ‘Signify Health’. The acquisition will supplement the healthcare services strategy of CVS, providing them with a robust platform for accelerated value-based patient care.
In June 2022, the United States’ Centers for Medicare and Medicaid Services (CMS) submitted the proposal for a rule reducing spending on home healthcare services. Although the aim of the rule is to reduce overall expenditure, experts view the move as risky, with the potential to increase in-patient and other forms of medical expenditure.
In May 2022, Sonida Senior Living completed its first acquisition of the past 5 years, adding two independent living communities to its extensive network. With the new acquisitions, Sonida now has 62 communities it owns directly, and another 14 under its management, through which it offers home healthcare services to senior citizens.
In December 2021, leading healthcare company, LifePoint Health acquired Kindred Healthcare. The mission has been to help patients recover from health issues with intensive medical care from comfort of their homes. After the acquisition, LifePoint Health launched a new division in the form of ScionHealth.
Key trends in the Market
Home healthcare involves providing healthcare services to vulnerable individuals so that they can be treated in the comfort of their homes. It includes various services provided by skilled and unskilled healthcare professionals such as elder care services, and pregnancy care services, among others. Home healthcare may be for short-term or long-term depending upon the needs of the patient and can involve the use of specialised tools and equipment. They are usually considered to be less expensive and provide equally effective care as compared to in the hospital.
- The pandemic extended ample of opportunities in the telehealth market. Telemedicine technology is aiding the growth of the global home healthcare market by providing access to experienced doctors and medical professionals directly from patient homes.
- The increasing prevalence of long-term conditions and extended rehabilitation periods, along with concerns over extended stays in hospitals is driving the market for home healthcare. Recovering at home is comfortable for patients, less expensive, and protects them from exposure to hospital contaminations.
- Artificial Intelligence is playing an increasingly important role across numerous applications. The influence of artificial Intelligence in home healthcare can be observed in the surge in the number of monitoring equipment such as fitness trackers, smart watch, and many more. Use of AI-powered equipment can help monitor results in home healthcare.
- Chronic diseases which impact senior citizens disproportionately, contribute to disabilities, reduce the quality of existence, and improve long-term maintenance expenses, thus unlocking an array of opportunities for numerous home healthcare companies.
- Rapid Increase in the elderly population is also contributing to the market exclusively. The rate at which the diseases are surging and affecting mostly the grown-ups has somehow risen the need for healthcare industries.
Market Analysis
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On the basis of equipment, the global home healthcare market can be classified into therapeutic products, testing, screening, and monitoring products, and mobility care. Based on services, the market is divided into skilled home healthcare, and unskilled home healthcare. According to condition, the market is segmented into cancer, respiratory diseases, pregnancy, wound care, diabetes, cardiovascular diseases and hypertension, among others. The regional markets are divided into North America, Europe, Asia Pacific, Latin America, Middle East and Africa.
The comprehensive EMR report provides an in-depth assessment of the market based on the ‘Porter’s five forces model’ along with giving a ‘SWOT analysis’. The report gives a detailed analysis of the following key players in the global home healthcare market, covering their competitive landscape and latest developments:
- Sonida Senior Living Corporation
- LifePoint Health
- National Healthcare Corporation
- Addus Homecare
- Genesis Healthcare Inc.
- Abbot Home Healthcare
- Omron Corporation
- Others
Market Share by Equipment
The global home healthcare market requires a variety of equipment, depending upon the specific needs of the patient and the type of care. While certain products are used for monitoring purposes, others are used for treatment, and for the prevention of complications. Long-term usage equipment for the treatment of chronic conditions occupies a significant share of the market, with types of equipment comprising of insulin delivery devices, inhalers, nebulisers, and sleep apnea therapeutic devices.
The newer technologies in this market have improved the communication flow between patients and healthcare providers, enabling better, faster, and more effective care. The increase in prevalence of chronic conditions, growing awareness of lifestyle diseases, and rise in elderly suffering from long-term health diseases will therefore increase the demand for home healthcare, proving favourable for market growth.
Market Share by Region
The regional development and penetration of the home healthcare market depends heavily upon market maturity, awareness of the public, support from healthcare providers, and level of expense. North America heavily invested in the home healthcare sector and is a major leading region in the market for home healthcare. The large geriatric population, high volume of chronic diseases, and expensive hospital stays encourage spending in home healthcare. The technical developments are assessed to promote the global home healthcare market growth in these regions.
In the developing countries of the Asia Pacific, the expanding population suffering from chronic diseases, rising disposable income, and growing awareness are calculated to run the global home healthcare market expansion. In the Middle East and African regions, the evolving healthcare market and development of home-based treatment protocols is projected to stimulate the global home healthcare market progress.
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Competitive Landscape
LifePoint Health comprises of a diversified network of healthcare delivery systems, offering specialised healthcare services in rural areas, small towns, and growing regions. It recently completed the acquisition of Kindred Healthcare, which aims to provide proper care and support to those recovering from illness or injury. The mission is to help clients attain the best possible health with intensive medical and rehabilitative care from comfort of their homes.
Addus Homecare provides healthcare services, primarily, personal care services such as bathing and self-cleaning as well as hospice and home health services. It aims at providing cost-effective care and aid that will allow patients the independence to remain in their homes and receive assistance in comfort.
National HealthCare Corporation (NHC) has been offering the best services in geriatric care for about 50 years now, offering homecare and assisted living services. At NHC, they understand that care should honour the individual, and facilitate healing, well-being, and self-sufficiency. It is comprehended nationwide as an architect in the liberation of excellent senior care.
Other market players include Omron Corporation, Abbot Home Healthcare Inc., Genesis Healthcare Inc., Sonida Senior Living Corporation.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2016-2022 |
| Forecast Period | 2023-2031 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Product Type |
|
| Breakup by Diseases Type |
|
| Breakup by Distribution Channel |
|
| Breakup by Region |
|
| Market Dynamics |
|
| Supplier Landscape |
|
| Companies Covered |
|
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
1.1 Objectives of the Study
1.2 Key Assumptions
1.3 Report Coverage – Key Segmentation and Scope
1.4 Research Methodology
2 Executive Summary
3 Global Home Healthcare Market Overview
3.1 Global Home Healthcare Market Historical Value (2016-2022)
3.2 Global Home Healthcare Market Forecast Value (2023-2031)
4 Global Home Healthcare Landscape
4.1 Global Home Healthcare Developers Landscape
4.1.1 Analysis by Year of Establishment
4.1.2 Analysis by Company Size
4.1.3 Analysis by Region
4.2 Global Home Healthcare Product Landscape
4.2.1 Analysis by Disease Type
4.2.2 Analysis by Product Type
4.2.3 Analysis by Distribution Channel
5 Global Home Healthcare Market Dynamics
5.1 Market Drivers and Constraints
5.2 SWOT Analysis
5.3 Porter’s Five Forces Model
5.4 Key Demand Indicators
5.5 Key Price Indicators
5.6 Industry Events, Initiatives, and Trends
5.7 Value Chain Analysis
6 Global Home Healthcare Market Segmentation
6.1 Global Home Healthcare Market by Product Type
6.1.1 Devices
6.1.2 Services
6.1.3 Software
6.2 Global Home Healthcare Market by Diseases Type
6.2.1 Market Overview
6.2.2 Heart Diseases
6.2.3 Hypertension
6.2.4 Bone and Joint Diseases
6.2.5 Diabetes
6.2.6 Chronic Obstructive Pulmonary Diseases
6.2.7 Obesity
6.2.8 Dementia/Alzheimer's Diseases
6.2.9 Infective Diseases (HIV/AIDS)
6.2.10 Parkinson's Diseases
6.2.11 Smoking
6.2.12 Asthma
6.2.13 Depression
6.2.14 Others
6.3 Global Home Healthcare Market by Distribution Channel
6.3.1 Market Overview
6.3.2 Direct Tenders
6.3.3 Retail Stores
6.3.4 Others
6.4 Global Home Healthcare Market by Region
6.4.1 Market Overview
6.4.2 North America
6.4.3 Europe
6.4.4 Asia Pacific
6.4.5 Latin America
6.4.6 Middle East and Africa
7 North America Home Healthcare Market
7.1 Market Share by Country
7.2 United States of America
7.3 Canada
8 Europe Home Healthcare Market
8.1 Market Share by Country
8.2 United Kingdom
8.3 Germany
8.4 France
8.5 Italy
8.6 Others
9 Asia Pacific Home Healthcare Market
9.1 Market Share by Country
9.2 China
9.3 Japan
9.4 India
9.5 ASEAN
9.6 Australia
9.7 Others
10 Latin America Home Healthcare Market
10.1 Market Share by Country
10.2 Brazil
10.3 Argentina
10.4 Mexico
10.5 Others
11 Middle East and Africa Home Healthcare Market
11.1 Market Share by Country
11.2 Saudi Arabia
11.3 United Arab Emirates
11.4 Nigeria
11.5 South Africa
11.6 Others
12 Patent Analysis
12.1 Analysis by Type of Patent
12.2 Analysis by Publication year
12.3 Analysis by Issuing Authority
12.4 Analysis by Patent Age
12.5 Analysis by CPC Analysis
12.6 Analysis by Patent Valuation
12.7 Analysis by Key Players
13 Grants Analysis
13.1 Analysis by year
13.2 Analysis by Amount Awarded
13.3 Analysis by Issuing Authority
13.4 Analysis by Grant Application
13.5 Analysis by Funding Institute
13.6 Analysis by NIH Departments
13.7 Analysis by Recipient Organization
14 Funding Analysis
14.1 Analysis by Funding Instances
14.2 Analysis by Type of Funding
14.3 Analysis by Funding Amount
14.4 Analysis by Leading Players
14.5 Analysis by Leading Investors
14.6 Analysis by Geography
15 Partnership and Collaborations Analysis
15.1 Analysis by Partnership Instances
15.2 Analysis by Type of Partnership
15.3 Analysis by Leading Players
15.4 Analysis by Geography
16 Regulatory Framework
16.1 Regulatory Overview
16.1.1 US FDA
16.1.2 EU EMA
16.1.3 INDIA CDSCO
16.1.4 JAPAN PMDA
16.1.5 Others
17 Supplier Landscape
17.1 Koninklijke Philips N.V.
17.1.1 Financial Analysis
17.1.2 Product Portfolio
17.1.3 Demographic Reach and Achievements
17.1.4 Mergers and Acquisitions
17.1.5 Certifications
17.2 Omron Healthcare, Inc.
17.2.1 Financial Analysis
17.2.2 Product Portfolio
17.2.3 Demographic Reach and Achievements
17.2.4 Mergers and Acquisitions
17.2.5 Certifications
17.3 Air Liquide
17.3.1 Financial Analysis
17.3.2 Product Portfolio
17.3.3 Demographic Reach and Achievements
17.3.4 Mergers and Acquisitions
17.3.5 Certifications
17.4 B. Braun Melsungen AG
17.4.1 Financial Analysis
17.4.2 Product Portfolio
17.4.3 Demographic Reach and Achievements
17.4.4 Mergers and Acquisitions
17.4.5 Certifications
17.5 Medtronic
17.5.1 Financial Analysis
17.5.2 Product Portfolio
17.5.3 Demographic Reach and Achievements
17.5.4 Mergers and Acquisitions
17.5.5 Certifications
17.6 DaVita Inc.
17.6.1 Financial Analysis
17.6.2 Product Portfolio
17.6.3 Demographic Reach and Achievements
17.6.4 Mergers and Acquisitions
17.6.5 Certifications
17.7 Cardinal Health
17.7.1 Financial Analysis
17.7.2 Product Portfolio
17.7.3 Demographic Reach and Achievements
17.7.4 Mergers and Acquisitions
17.7.5 Certifications
17.8 Sunrise Medical
17.8.1 Financial Analysis
17.8.2 Product Portfolio
17.8.3 Demographic Reach and Achievements
17.8.4 Mergers and Acquisitions
17.8.5 Certifications
17.9 General Electric
17.9.1 Financial Analysis
17.9.2 Product Portfolio
17.9.3 Demographic Reach and Achievements
17.9.4 Mergers and Acquisitions
17.9.5 Certifications
17.10 A&D Company, Limited
17.10.1 Financial Analysis
17.10.2 Product Portfolio
17.10.3 Demographic Reach and Achievements
17.10.4 Mergers and Acquisitions
17.10.5 Certifications
17.11 BAYADA Home Health Care
17.11.1 Financial Analysis
17.11.2 Product Portfolio
17.11.3 Demographic Reach and Achievements
17.11.4 Mergers and Acquisitions
17.11.5 Certifications
17.12 Invacare Corporation
17.12.1 Financial Analysis
17.12.2 Product Portfolio
17.12.3 Demographic Reach and Achievements
17.12.4 Mergers and Acquisitions
17.12.5 Certifications
17.13 Philips Healthcare
17.13.1 Financial Analysis
17.13.2 Product Portfolio
17.13.3 Demographic Reach and Achievements
17.13.4 Mergers and Acquisitions
17.13.5 Certifications
17.14 GE Healthcare
17.14.1 Financial Analysis
17.14.2 Product Portfolio
17.14.3 Demographic Reach and Achievements
17.14.4 Mergers and Acquisitions
17.14.5 Certifications
17.15 Baxter
17.15.1 Financial Analysis
17.15.2 Product Portfolio
17.15.3 Demographic Reach and Achievements
17.15.4 Mergers and Acquisitions
17.15.5 Certifications
17.16 F. Hoffmann-La Roche Ltd
17.16.1 Financial Analysis
17.16.2 Product Portfolio
17.16.3 Demographic Reach and Achievements
17.16.4 Mergers and Acquisitions
17.16.5 Certifications
17.17 Healthcare at Home
17.17.1 Financial Analysis
17.17.2 Product Portfolio
17.17.3 Demographic Reach and Achievements
17.17.4 Mergers and Acquisitions
17.17.5 Certifications
17.18 Linde plc
17.18.1 Financial Analysis
17.18.2 Product Portfolio
17.18.3 Demographic Reach and Achievements
17.18.4 Mergers and Acquisitions
17.18.5 Certifications
18 Global Home Healthcare Market- Distribution Model (Additional Insight)
18.1 Overview
18.2 Potential Distributors
18.3 Key Parameters for Distribution Partner Assessment
19 Key Opinion Leaders (KOL) Insights (Additional Insight)
20 Company Competitiveness Analysis (Additional Insight)
20.1 Very Small Companies
20.2 Small Companies
20.3 Mid-Sized Companies
20.4 Large Companies
20.5 Very Large Companies
21 Payment Methods (Additional Insight)
21.1 Government Funded
21.2 Private Insurance
21.3 Out-of-Pocket
*Additional insights provided are customisable as per client requirements.
Key Questions Answered in the Report
The global home healthcare market size was valued at USD 298.3 billion in 2022.
The market is expected to grow at a CAGR of 10.10% from 2023 to 2031 to reach a value of USD 710.5 billion by 2031.
The major market drivers are rise in population, increase in income levels, growing awareness, increase in the population of elderly, rising disease prevalence, and medical service utilisation.
The key trends of the market are use of AI-powered technologies, growth of telemedicine, and preference to recover from long-term conditions at home.
The major regional markets are North America, Europe, the Asia Pacific, Latin America, and Middle East & Africa.
It varies based on the country, however, typically, home healthcare services are paid for through private spending or insurance.
Home healthcare provides support to vulnerable individuals so that they can be treated and recover from the comfort of their homes. Hospice care concentrates on taking care of the individual and in improving the quality of life of a person with a fatal illness who is nearing the end of life.
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