Home Healthcare Market Analysis By Component {Equipment (Therapeutic, Diagnostic, Mobility Assist)}, Services (Rehabilitation, Unskilled Home Care, Respiratory Therapy Services, Infusion Therapy Services, Telemetry), And Segment Forecasts, 2018 - 2025

Industry Insights

The global home healthcare market size was valued at USD 244.4 billion in 2015 and is expected to grow at a CAGR of 7.8% over the forecast period. Rising treatment cost is one of the biggest area of concern amongst government and health organizations, and these organizations are striving to curb increasing health cost.

Home healthcare is a cost efficient alternative to expensive hospital stays. For instance, treatment cost for acute care hospital is around USD 3,250.0 per day. On the contrary, home care cost is approximately USD 50.0 per day. These settings help to save cost significantly hence, anticipated to serve as high impact rendering driver for the home healthcare market.

U.S. home healthcare market, by services, 2014 - 2025 (USD Billion)

Growing workforce pertaining to these services translates the increasing demand for home healthcare services. As per the statistics published by the U.S. Bureau of Labor Statistics, the ranks of personal care and home care aids are anticipated to increase to around 13.0 million by 2020, which translates to approximately 70.0% hike from 2010.

Growing geriatric population is one of the key driver for the lucrative growth of market. As per the World Health Organization’s estimates, the geriatric population is anticipated to be more than double from 7.0% to 16.0% in 2050. These, demographic group is prone to chronic diseases which require long term care and approximately 70.0% patients in these settings are geriatric. Hence, home healthcare offers best possible alternative providing affordable quality care.

The establishment and maintenance of hospitals and other such settings are capital intensive in nature and entail large investments in terms of capital and operational expenses. Therefore, providers with the help of mergers and acquisitions are now entering the rapidly growing home healthcare market in an attempt to capitalize on the available opportunities and contain costs. Moreover, these companies engage extensively in strategic initiatives to enhance regional presence. For example, in 2014, National Nursing & Rehab acquired Home Health Services to expand its reach into the Texas metropolitan areas.

Component Insights

Diagnostics equipment accounted for more than 35.0% of the overall home healthcare equipment market in 2015, and is expected to gain share over the forecast period, owing to increasing prevalence of diabetes, cardiovascular and cardiopulmonary diseases, patient awareness levels, growing prevalence levels of long term illnesses requiring constant diagnosis and high usage rates of BP monitors and pregnancy and fertility tests.

Global home healthcare market, by equipment, 2015

Rehabilitation services accounted for more than 50.0% of the overall home healthcare service market in 2015 majorly owing to increasing geriatric population base and growing incidence rates of surgeries pertaining to trauma. Infusion therapy on the other hand is expected to gain market share during the forecast period owing to increasing demand for enteral and parenteral nutrition.

Regional Insights

North America held the largest revenue share of regional market in 2015 at over 40.0% owing to the presence of sophisticated medical infrastructure, high patient awareness levels coupled with relatively higher health expenditure levels in the region.

Asia Pacific is anticipated to witness lucrative growth over the forecasts period. Progressive economy, reforms to improve infrastructure, high unmet needs of huge population chunk and availability skilled labor expected to govern the growth of this region. For instance, introduction of Goods and Services Tax (GST) in India is anticipated to multiple tax burden and its cascading effect. This further is anticipated to improve the ease of doing business in India.

Competitive Insights

Major players in this vertical include Almost Family Inc., B. Braun Melsungen AG, Abbott Laboratories, Sunrise Medical Inc., 3M Health Care, Baxter, Medtronic, Cardinal Health Inc., Roche diagnostics corp., Air Liquide, Arcadia Health Care, Bayer AG, Amedisys, Inc., Nxstage Medical, Inc., Arkray Inc., Apria healthcare group, Odyssey Healthcare Inc. Becton, Dickinson and Company, Critical Homecare, National Healthcare crop., and Omron Healthcare Inc.

These players are involved in various strategic initiatives such as regional expansion, collaborations, service portfolio expansion, mergers and acquisitions. For instance, in March 2014, Almost Family, Inc. announced that it had entered into an agreement to acquire the assets of the Medicare-certified home health agency owned by Caldwell Medical Center located in Princeton, Kentucky

Report Scope

Segments Covered in the Report

This report forecasts revenue growth and provides an analysis on the latest trends in each of the sub-segments from 2014 to 2025. For the purpose of this study, Grand View Research has segmented the home healthcare market on the basis of component and region:

• Component Outlook (Revenue, USD Billion, 2014 - 2025)

  • Equipment

    •  Therapeutic

      • Home Respiratory Equipment

      • Insulin Delivery Device

      • Home IV Pumps

      • Home Dialysis Equipment

      • Other Therapeutic Equipment

    •  Diagnostic

      • Diabetic Care Unit

      • BP Monitors

      • Multi Parameter Diagnostic Monitors

      • Home Pregnancy and Fertility Kits

      • Other Self-Monitoring Equipment

      • Apnea and Sleep Monitors

      • Holter Monitors

      • Heart Rate Maters

      • Other

    • Mobility Assist

      • Wheel Chair

      • Home Medical Furniture

      • Walking Assist Devices

    •  Services

      • Rehabilitation Services

      • Unskilled Home Care

      • Respiratory Therapy Services

      • Infusion Therapy Services

      • Telemetry

• Regional Outlook (Revenue, USD Billion, 2014 - 2025)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

  • Asia Pacific

    • Japan

    • China

  • Latin America

    • Brazil

    • Mexico

  • Middle East and Africa (MEA)

    • South Africa