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

Industry Insights

The global home healthcare market size was valued at USD 263.30 billion in 2016. It is expected to register a CAGR of 7.8% over the forecast period. Rising treatment cost is one of the biggest areas of concern for government and healthcare 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 and thus, anticipated to provide a significant push to the market.

Growing workforce in the industry is translating into a greater 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 aides are projected to increase to around 13.0 million by 2020, which is approximately 70.0% hike from 2010.

Growing geriatric population is one of the key drivers for the market. As per the Department of Economic and Social Affairs of the United Nations, population aged above 60 is likely to reach 2.1 billion by 2050. The demographic group is prone to chronic diseases, which require long term care and approximately 70.0% patients opting for home healthcare are geriatric.

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 into this highly promising arena in an attempt to capitalize on 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 to Texas metropolitan areas.

Component Insights

Diagnostics equipment accounted for just over 38.0% of the market for home healthcare equipment in 2016. The segment is poised to gain share over the forecast period, owing to increasing prevalence of diabetes, cardiovascular, and cardiopulmonary diseases. Besides this, rising patient awareness levels, soaring need for constant diagnosis of patients with chronic illness and high usage rates of BP monitors and pregnancy and fertility tests are contributing to the growth of the market.

Rehabilitation services accounted for approximately 60.0% of the market for home healthcare services in 2016. The growth of the segment can be attributed to widening geriatric population base and growing incidence rate 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 in the global home healthcare market in 2016, with a share of a little over 44.0% of the overall market. The growth of the regional market can be attributed to presence of sophisticated medical infrastructure and high patient awareness levels coupled with relatively higher health expenditure levels in the region.

Asia Pacific is anticipated to witness promising growth over the forecast period. Progressive economy, reforms to improve infrastructure, high unmet needs of a wide population base, and availability skilled labor are expected to stimulate the growth of the region.

Home Healthcare Market Share Insights

Some of the prominent companies operating in the market are 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 Corp.; and Omron Healthcare Inc.

These players are involved in various strategic initiatives such as regional expansion, collaborations, service portfolio expansion, and mergers and acquisitions. For instance, in March 2014, Almost Family, Inc. announced that it had entered into an agreement to acquire assets of 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, Inc. has segmented the global home healthcare market report on the basis of component, and region:

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

  • Equipment

    • Therapeutic

    • Diagnostic

    • Mobility assist

  • Services

    • Rehabilitation

    • Unskilled home care

    • Respiratory therapy services

    • Infusion therapy services

    • Telemetry

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

  • North America

    • U.S.

    • Canada

  • Europe

    •  Germany

    •  U.K.

    •  France

    •  Italy

    •  Spain

    •  Sweden

    •  Russia

    • Netherlands

  • Asia Pacific

    • Japan

    •  China

    •  India

    •  Australia

    •  Singapore

    •  Thailand

    •  Philippines

    •  Korea

    • Malaysia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East and Africa (MEA)

    • South Africa

    • Saudi Arabia

    • Oman

    • Egypt

    • UAE