Home Healthcare Market Size, Share & Trends Analysis Report By Component (Equipment, Services), By Indication (Cardiovascular Disorder & Hypertension, Diabetes & Kidney Disorders), By Region, And Segment Forecasts, 2023 - 2030

Report Overview

The global home healthcare market size was valued at USD 362.1 billion in 2022 and is expected to grow at a CAGR of 7.96% from 2023 to 2030. Growing geriatric population and rising incidence of target diseases such as dementia and Alzheimer’s, as well as orthopedic diseases, are factors expected to fuel the market growth. Increasing treatment cost is one of the prime concerns for governments and health organizations, and hence they are striving to curb healthcare costs. Home healthcare is a cost-efficient alternative to an expensive hospital stay. For instance, as per a report by The Commonwealth Fund, “hospital at home,” programs enable patients to receive acute care at home with fewer complications and over 30% reduction in the cost of care. This helps ensure patient comfort and is projected to serve as a high impact rendering driver of the market.

The global geriatric population is growing at a rapid pace. According to World Population Prospects 2019 (United Nations, 2019), there were 703 million people aged 65 years and above globally in 2019. In 2050, the number of elderly people is anticipated to reach 1.5 billion. From 1990 to 2019, the proportion of the world's population aged 65 years and above increased from 6% to 9%. By 2050, it is anticipated that 16% of the global population, or one in six individuals, will be aged 65 years and above. Aging is considered the greatest risk factor for developing chronic diseases, which demands long-term care. Major diseases associated with old age are Alzheimer’s (the risk of suffering from Alzheimer’s reaches 50% in individuals beyond 85 years), dementia, and orthopedic disorders that affect mobility.

In addition, advancement in technology is likely to favor the growth of the home healthcare market. For instance, active home telemonitoring devices can help in capturing vital signs and symptoms which helps the home health agency. People prefer devices that can be used at their convenience. This provides a sense of comfort and flexibility to the patients, thereby increasing the demand. For instance, the usage of insulin delivery devices, home dialysis equipment, intravenous pumps, and BP monitors.

Rising awareness of home care facilities and disposable income is leading to demand of for home healthcare services. The bed-ridden and old patients opt for home healthcare services and products, as it reduces readmission to the hospital and the recovery rate is higher in comparison to in-hospital. Companies are also focusing more on untapped countries such as India and China. For instance, Apollo Homecare offers long term plans for various categories such as ortho rehab, heart rehab, neuro rehab, lung rehab, mother & baby care, and elderly care. These programs include medical supervision and personalized healthcare services.

The COVID-19 pandemic had a substantial impact on the market expansion. COVID-19 has raised the demand for patient monitoring in region such as Asia and MEA as a result of hospital visit restrictions. Government agencies provided a variety of services to help monitor the condition of COVID-19-infected individuals. In April 2020, for instance, the Saudi Ministry of Health released an app designed to track the health of individuals suspected of having COVID-19. During the pandemic, the government made attempts to monitor the health of patients, contributing to the expansion of the market. Moreover, during the post-pandemic period, the growing usage of patient monitoring across MEA is anticipated to boost the market.

Component Insights

The services segment dominated the market and held the largest revenue share of 84.3% in 2022. The market by services is segmented into skilled home healthcare and unskilled home healthcare. Skilled services are provided by healthcare professionals. Unskilled services are provided for daily living aid to home-bound patients and are categorized as basic assistance care/personal care service. Rising medical expenditure associated with hospital stays is expected to boost the demand for skilled care.

Under skilled nursing services, medical professionals such as physicians, registered nurses, physiotherapists, and specialty care providers aid patients at home or home care centers. The aging population suffering from diseases, such as diabetes and cardiac disorders, require medical assistance services such as medication management and continuous monitoring. With advancements in medical technology, many procedures can be performed at home in a more comfortable and convenient environment, which can be attributed to the growth of skilled home care services in the market for home healthcare.

Equipment is segmented as therapeutic, diagnostic, and mobility assistance. Diagnostics accounted for 40% of the overall home healthcare equipment market share in 2022 and is expected to gain a lucrative share over the forecast period. Technologically advanced products that enable accurate and timely diagnosis, such as strapless heart rate monitor, iPhone heart-rate monitor, and TQR heart rate watches are likely to propel the diagnostic equipment segment growth. Further, increasing patient awareness and health consciousness is also likely to boost segment growth.

Indication Insights

The neurological & mental disorder segment accounted for the largest revenue share of 16.7% in 2022 owing to increasing disease prevalence. Neurological disorders, including epilepsy, Alzheimer's & other dementias, stroke, migraine & other headaches, multiple sclerosis, & Parkinson's disease, can affect the functioning of the brain, spine, and nerves. Home healthcare services, such as physical therapy, occupational therapy, speech therapy, and mental health services, can help those with such disorders manage symptoms. According to the NCBI, in 2022, an estimated 6.5 million people aged 65 and over in the US were suffering from Alzheimer's disease, which is expected to rise to 13.8 million by 2060. In addition, women are more likely to be diagnosed with Alzheimer’s than men due to their longer life expectancy, and it is becoming the most common cause of death in neurodegenerative diseases, as well as a common cause of physical disability that requires urgent treatment.

Mobility disorders have been estimated to be the fastest growing segment. According to the CDC, 11.1% of U.S. adults have a mobility-related disability with serious difficulty walking or climbing stairs. Mobility disorders are conditions that limit movement due to physical, psychological, or neurological impairment, and treatment may include physical therapy, assistive devices, and medications. Home healthcare services can provide numerous benefits to individuals with mobility disorders, such as assistance with daily tasks & activities to help maintain independence and physiotherapists to help regain mobility, functionality, & strength & reduce pain through exercise, movements, & massage. The increasing prevalence of mobility disorders is expected to drive the growth of this segment over the forecast period.

Diabetes is one of the leading causes of disability & death worldwide, and the number of people living with diabetes is expected to grow in the coming years. This growing prevalence of diabetes is expected to have a significant impact on the growth of the home healthcare services market. For instance, according to the International Diabetes Federation estimates, in 2021, approximately 536 million adults were living with diabetes, and this number is expected to increase to 783 million by 2045. Home healthcare services can enable people with diabetes to manage their conditions in the comfort of their homes, thereby reducing the need for hospital visits and the overall cost of care. Such services can involve care planning, monitoring, and education, as well as providing diabetes-related equipment & supplies.

Regional Insights

North America accounted for the largest market share of 42.7% in the market. The large geriatric population in this region, coupled with sophisticated healthcare infrastructure and relatively high disposable incomes, are some key drivers of this market. Moreover, an increasing number of government initiatives that aim to curb healthcare expenditure levels, by promoting home healthcare is expected to serve as a vital impact-rendering driver.

In addition, by 2030, one in five Americans will be above 65 years of age. Around 90% of the population aged above 65 in the U.S. is expected to have one or more chronic diseases requiring long-term care. Home healthcare services are very useful for the geriatric population, as they enable elderly people to manage chronic conditions at home, thereby reducing hospital visits and the cost of treatment.

Asia Pacific has been estimated to be the fastest-growing segment. Factors such as underdeveloped healthcare infrastructure, expensive in-hospital healthcare facilities, and chronic diseases that require long-term care are resulting in an increase in home healthcare products and services. Thailand, Australia, South Korea, and New Zealand are some of the emerging countries in the region. Technological advancements in patient monitoring devices and an increasing geriatric population coupled with the growing prevalence of lifestyle diseases, such as obesity & diabetes, are anticipated to drive the growth of the market.

Key Companies & Market Share Insights

The market is highly fragmented due to the presence of a large number of multinational as well as local market players. Moreover, the consolidation activities undertaken by multinational companies are estimated to increase competition amongst new and local market players. Players in the market undertake the strategy to strengthen their product portfolios and offer diverse technologically advanced & innovative products to their customers. The strategies such as product launch is being widely adopted by companies to attract more customers in the market.

Key market players following this strategy include Roche; Medline Industries, Inc.; B. Braun Melsungen AG; and GF Health Products, Inc. For instance, in April 2022, Abbott launched an updated digital health app, NeuroSphere myPath, to assist medical professionals in tracking and managing chronic pain in patients. This upgraded version helps doctors monitor patients’ progress and provide more tailored treatments. To improve the quality of care, service providers are entering into partnerships. For instance, in February 2023, 3M launched a new medical adhesive designed for use with a range of sensors, health trackers, and long-term medical wearables. Some of the prominent players in the home healthcare market include:

• Suppliers

  • B. Braun Melsungen AG

  • Abbott

  • Sunrise Medical

  • 3M Healthcare

  • Baxter International Inc.

  • Medtronic PLC

  • Cardinal Health Inc.

  • F. Hoffmann-La Roche AG

  • Air Liquide

  • Amedisys, Inc.

  • NxStage Medical, Inc. (Fresenius Medical Care)

  • Arkray, Inc.

  • Becton, Dickinson and Company

  • Omron Healthcare, Inc.

  • Drive DeVilbiss Healthcare

  • GE Healthcare

  • Medline Industries, Inc

  • Koninklijke Philips N.V.

  • Johnson & Johnson Services, Inc.

  • Linde Healthcare

  • Acelity (3M)

  • Vygon

  • Teleflex, Inc.

  • Moog Inc.

  • Intersurgical Ltd.

  • Fresenius Kabi AG.

  • Bayer HealthCare

  • GF Health Products, Inc.

• Service Providers

  • Kindred Healthcare, Inc.

  • Almost Family, Inc.

  • National HealthCare Corporation

  • Chubb Fire & Security Pty Ltd

  • Gentiva Health Services, Inc.

  • Medco Home Healthcare, Inc.

  • Addus Homecare

  • Brookdale Senior Living Solutions

  • Sunrise Carlisle, LP (Sunrise Senior Living, LLC)

  • Genesis Healthcare, Inc.

  • Extendicare, Inc.

  • SONIDA SENIOR LIVING. (CAPITAL SENIOR LIVING CORPORATION)

  • Diversicare Healthcare Services, Inc.

  • Home Instead, Inc.

  • Senior Care Centers of America

  • Atria Senior Living, Inc

Recent Developments

• In June 2023, it was announced that Amedisys has agreed to combine with Optum, a company specializing in providing diversified health services. Amedisys provides personalized home health and hospice care services and performs over 11.2 million visits to patient homes annually.

• In April 2022, Fresenius Medical Care announced that it had received FDA approval for its VersiPD Cycler System, an advanced portable, automated peritoneal dialysis system. It offers an intuitive touchscreen for assisting patients through setup & treatment, and is supported by the Kinexus Therapy Management Platform, which is a connected health system.

• In December 2021, Arkray, which specializes in developing diagnostic and monitoring devices for several health conditions, announced that it had started full-scale operations at 6 European locations, including 5 sales offices and 1 manufacturing base in Ireland. Through this, the company aims to improve its supply chain and customer service in the region.

• In February 2023, OMRON Healthcare announced the addition of new educational components to its OMRON Connect mobile application. These include articles relating to study summaries and AFib identification, as well as pointers for behavioral and lifestyle changes to reduce risks of heart attack and stroke.

• In May 2023, Medtronic announced that it had entered into an agreement to acquire EOFlow Co. Ltd., which manufactures the EOPatch tubeless, wearable, and fully disposable insulin delivery device.

• In August 2022, Graham-Field introduced the Everest & Jennings PureTilt Tilt-in-Space Wheelchair that promises optimal patient comfort by providing safe and independent transitions. The wheelchair features a user-adjusting tilt control that allows for the wheelchair user to readjust their posture during the day.

• In March 2023, Philips announced the launch of the Philips Virtual Care Management solutions and services portfolio, which has been designed to improve patient engagement and health outcomes through a more comprehensive telehealth approach.

Home Healthcare Market Report Scope

Global Home Healthcare Market Report Segmentation

This report forecasts revenue growth at the global, regional, and country levels and provides an analysis on the latest industry trends and opportunities in each of the sub-segments from 2018 to 2030. For this study, Grand View Research has segmented the global home healthcare market report based on component, indication, and region:

• Component Outlook (Revenue, USD Million, 2018 - 2030)

  • Equipment

    • Therapeutic

      • Home respiratory therapy equipment

      • Insulin delivery devices

      • Home IV pumps

      • Home dialysis equipment

      • Others

    • Diagnostic

      • Diabetic care unit

      • BP monitors

      • Multi para diagnostic monitors

      • Home pregnancy and fertility kits

      • Apnea and sleep monitors

      • Holter monitors

      • Heart rate monitors

      • Others

    • Mobility Assist

      • Wheel chair

      • Home medical furniture

      • Walking assist devices

  • Services

    • Skilled Home Healthcare Services

      • Physician primary care

      • Nursing care

      • Physical/occupational/speech therapy

      • Nutritional support

      • Hospice & palliative care

      • Others

    • Unskilled Home Healthcare Services

• Indication Outlook (Revenue, USD Million, 2018 - 2030)

  • Cardiovascular Disorder & Hypertension

  • Diabetes & Kidney Disorders

  • Neurological & Mental Disorders

  • Respiratory Disease & COPD

  • Maternal Disorders

  • Mobility Disorders

  • Cancer

  • Wound Care

  • Others

• Regional Outlook (Revenue, USD Million, 2018 - 2030)

  • North America

    • U.S.

    • Canada

  • Europe

    • U.K.

    • Germany

    • France

    • Italy

    • Spain

    • Russia

    • Netherlands

  • Asia Pacific

    • China

    • Japan

    • India

    • Australia

    • Singapore

    • Malaysia

    • Thailand

    • Philippines

    • South Korea

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa (MEA)

    • South Africa

    • Saudi Arabia

    • Oman

    • UAE

    • Egypt