Home Healthcare Market Size, Share & Trends Analysis Report By Equipment (Therapeutic, Diagnostic), By Services (Skilled Home Healthcare Service, Unskilled Home Healthcare Service), By Indication, 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 expand at a compound annual growth rate (CAGR) of 7.96% from 2023 to 2030. The 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 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. Advancements in medicine have led to a shift from communicable to noncommunicable diseases in developing countries. Sedentary lifestyle and high consumption of alcohol are factors responsible for increase in the prevalence of lifestyle diseases. Growing incidence of target diseases requiring long-term care, such as Alzheimer’s disease and dementia, is expected to drive the market during the forecast period.

Furthermore, awareness about home care services and devices for such conditions is increasing. Availability of portable devices such as heart rate monitors, respiratory aids, and blood glucose monitors has improved the efficiency and effectiveness of home care for lifestyle diseases. Value-based healthcare is another major factor contributing to the market. In most of the developed and developing nations, the central government is offering either partial or complete coverage for the in-home services. In the U.S., Medicare reimbursements are highly favorable in providing value-based healthcare for improved patient outcomes at a low cost. Thus, in-home care has become a modality of choice for treatment.

COVID-19 home healthcare market impact: 7.21% growth from 2020 to 2021

The advent of advanced home healthcare services in the country has enabled the delivery of high-quality healthcare in the comfort of one’s home. Moreover, patients can save 10% to 25% from their overall medical treatment costs by opting for home healthcare services. Modern-age networking has provided physicians with access to patient data from remote locations and the ability to provide immediate consultation.

Component Insights

The equipment segment is expected to witness the highest CAGR of 8.84% over the forecast period. The segment is further segmented into therapeutic, diagnostic, and mobility assistance. The therapeutic segment is expected to hold the largest revenue share over the forecast period due to the rising prevalence of diseases that require frequent usage. For instance, the usage of insulin delivery devices, home dialysis equipment, and intravenous pumps. Diagnostics accounted for the largest market share of the overall home healthcare equipment market in 2021 and is expected to gain a lucrative share over the forecast period, owing to the increasing prevalence of diabetes and cardiovascular and cardiopulmonary diseases, growing patient awareness, increasing prevalence of long-term illnesses requiring frequent diagnosis, and high adoption of BP monitors and pregnancy and fertility tests.

With the increasing geriatric population, the demand for home healthcare services is rising in several countries. The services segment dominated the market and captured the largest revenue share of 84.33% in 2022. Service providers focus on covering the entire scope to deliver the best services to the geriatric population. Individualized disease management programs are developed to address physical needs specific to Alzheimer’s disease and dementia (Memory Care Specialty Program) as well as manage symptoms related to heart diseases, focusing on pain control and quality of life (Cardiac Specialty Program). The market by services is segmented into skilled home care and unskilled home care. Skilled home care services are provided by healthcare professionals. Unskilled home care services are provided for daily living aid to home-bound patients and are categorized as basic assistance care/personal care services. Skilled home healthcare services dominated the market in 2020 due to rising medical expenditure associated with hospital stays

Regional Insights

North America dominated the market and accounted for a revenue share of 42.73% in 2022. The presence of a large geriatric population in this region coupled with sophisticated healthcare infrastructure and relatively higher disposable income levels are some of the key factors. Moreover, an increasing number of government initiatives aimed at curbing healthcare expenditures by promoting home healthcare is also adding up to its large market share. For instance, Hospital at Home program was initiated wherein the patients received treatment at home, this reduced the cost of care by nearly 30%.

The Asia Pacific market is expected to register the fastest growth with a CAGR of 8.96% during the forecast period. 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. Companies are also focusing more on untapped countries such as India, China. For instance, Apollo Homecare offers long-term plans for various categories such as ortho rehab, heart rehab, neuro rehab, lung rehab, mother and baby care, and elderly care. These programs include medical supervision and personalized healthcare services.

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. The leading players are constantly looking to increase their share in the market. For instance, Nightingales Home Health Services (India) recently launched its operations in Chennai. Portea Medical is offering at-home COVID-19 testing services to expand its service offerings. Currently, service providers are focused on geographical expansions over increasing service offerings. Moreover, the market is largely unregulated, which may lead to unfair competition and hostile takeovers. Some of the prominent players in the home healthcare market include:

• Manufacturers

  • McKesson Medical-Surgical Inc.

  • Fresenius Medical Care

  • Medline Industries, Inc.

  • Medtronic PLC

  • 3M Healthcare

  • Baxter International Inc.

  • B. Braun Melsungen AG

  • Arkray, Inc.

  • F. Hoffmann-La Roche AG

  • Becton, Dickinson And Company

  • Acelity L.P.

  • Hollister Inc.

  • ConvaTec Group PLC

  • Molnlycke Health Care

• Service Providers

  • Brookdale Senior Living, Inc.

  • Home Health Services Ltd.

  • Sunrise Carlisle, LP

  • Extendicare, Inc.

  • Care UK Limited

  • Senior Care Centers of America

  • Genesis Healthcare Corp.

  • Sompo Holdings, Inc.

  • Kindred Healthcare, Inc.

  • Home Instead Senior Care, Inc.

Home Healthcare Market Report Scope

Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For the purpose of this study, Grand View Research has segmented the global home healthcare market report on the basis of component, indication and region:

• Component Outlook (Revenue, USD Million, 2017 - 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, 2017 - 2030)

  • Cardiovascular Disorders & Hypertension

  • Diabetes

  • Respiratory Diseases

  • Pregnancy

  • Mobility Disorders

  • Cancer

  • Wound Care

  • Other Indications

• Regional Outlook (Revenue, USD Million, 2017 - 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