A three-pronged approach was followed for deducing the pediatric home healthcare market estimates and forecasts. The process has three steps: information procurement, analysis, and validation. The whole process is cyclical, and steps repeat until the estimates are validated. The three steps are explained in detail below:
Information procurement: Information procurement is one of the most extensive and important stages in our research process, and quality data is critical for accurate analysis. We followed a multi-channel data collection process for pediatric home healthcare market to gather the most reliable and current information possible.
Analysis: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilized different methods of pediatric home healthcare market data depending on the type of information we’re trying to uncover in our research.
Market Research Efforts: Bottom-up Approach for estimating and forecasting demand size and opportunity, top-down Approach for new product forecasting and penetration, and combined approach of both Bottom-up and Top-down for full coverage analysis.
Value-Chain-Based Sizing & Forecasting: Supply-side estimates for understanding potential revenue through competitive benchmarking, forecasting, and penetration modeling.
Demand-side estimates for identifying parent and ancillary markets, segment modeling, and heuristic forecasting.
Qualitative Functional Deployment (QFD) Modelling for market share assessment.
Market formulation and validation: We mine the data collected to establish baselines for forecasting, identify trends and opportunities, gain insight into consumer demographics and drivers, and so much more. We utilize different methods of data analysis depending on the type of information we’re trying to uncover in our research.
Market Formulation: This step involves the finalization of market numbers. This step on an internal level is designed to manage outputs from the Data Analysis step.
Data Normalization: The final market estimates and forecasts are then aligned and sent to industry experts, in-panel quality control managers for validation.
This step also entails the finalization of the report scope and data representation pattern.
Validation: The process entails multiple levels of validation. All these steps run in parallel, and the study is forwarded for publishing only if all three levels render validated results.
The pediatric home healthcare market was categorized into four segments, namely service (Skilled Nursing Services, Personal Care Assistance, Rehabilitation Therapy Services), and regions (North America, Europe, Asia Pacific, Latin America, Middle East & Africa).
The pediatric home healthcare market was segmented into service, and regions. The demand at a segment level was deduced using a funnel method. Concepts like the TAM, SAM, SOM, etc., were put into practice to understand the demand. We at GVR deploy three methods to deduce market estimates and determine forecasts. These methods are explained below:
Demand estimation of each product across countries/regions summed up to from the total market.
Variable analysis for demand forecast.
Demand estimation via analyzing paid database, and company financials either via annual reports or paid database.
Primary interviews for data revalidation and insight collection.
Used extensively for new product forecasting or analyzing penetration levels.
Tool used invoice product flow and penetration models Use of regression multi-variant analysis for forecasting Involves extensive use of paid and public databases.
Primary interviews and vendor-based primary research for variable impact analysis.
The pediatric home healthcare market was analyzed at a regional level. The globe was divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa, keeping in focus variables like consumption patterns, export-import regulations, consumer expectations, etc. These regions were further divided into twenty-three countries, namely, the U.S.; Canada; the UK.; Germany; France; Italy; Spain; Sweden; Norway; Denmark; Japan; China; India; Australia; South Korea; Thailand; Brazil; Mexico; Argentina; South Africa; Saudi Arabia; UAE and Kuwait
All three above-mentioned market research methodologies were applied to arrive at regional-level conclusions. The regions were then summed up to form the global market.
The pediatric home healthcare market was analyzed via companies operating in the sector. Analyzing these companies and cross-referencing them to the demand equation helped us validate our assumptions and conclusions. Key market players analyzed include:
Aveanna Healthcare, LLC: The company is a privately held pediatric and adult homecare services provider based in Georgia, U.S. The company focuses on developing innovative and convenient home care and healthcare services. The company’s key areas of focus are private duty services, home health & hospice, and medical solutions. The specialties covered by the company include nursing, therapy services, enteral nutrition, medical supplies, day healthcare, personal care, and rehabilitation services. Currently, Aveanna Healthcare provides care services to over 50,000 adults and children through 200 branch offices set up in 27 states.
DJK Home Healthcare: The company is a privately held pediatric nursing care provider. The company provides focused quality pediatric care solutions through its five agencies in Texas and one agency in New Mexico. The team comprises licensed vocational nurses and registered nurses providing skilled and compassionate care. The therapeutic services provided by the company include physical therapy, speech therapy, pathology services, medical social services, occupational therapy, and home health aide services.
Tendercare Home Health Services: The company is a family-owned private company deploying homecare health services locally in Indiana. The company specializes in 24-hour homecare services and high-tech nursing services. The Tendercare team consists of registered nurses, licensed nurses, physical therapists, medical social workers, homecare aides, occupational therapists, and home companionship services.
BrightStar Care: The company is a privately held healthcare staffing and franchising agency, that delivers medical and non-medical care in home environments to pediatrics as well as adult patients. In addition, the company also provides corporate setups with supplemental healthcare staff. The company focuses on designing customizable treatment & care plans to be provided by a licensed practitioner. The company has a renowned presence in the U.S. through its 300 franchise locations 20,000 caregivers and 4,000 nurses.
Angels of Care Pediatric Home Health: The company is a privately held nurse-owned and operated agency, that provides pediatric nursing and respite care nursing services. The wide array of homecare services available are private duty nursing, hourly nursing care, skilled nurse visits, respite care, certified nursing aide programs, personal assistant services, physical therapy, occupational therapy, and speech therapy. The company has more than 15 office locations spread across Texas, Colorado, Arizona, North Carolina, and Florida.
New England Home Health Care: The company is a privately held home healthcare and staffing solutions provider. Their services range from routine checkups to 24×7 nursing solutions. The company specializes in elder care, pediatric care, recovering patients, post-surgery home care, post-injury/trauma care, support services, and concierge services. The company provides nursing facilities at schools, nursing homes, assisted living homes, hospitals, retirement homes, and boarding homes.
Pediatric Home Healthcare: The company is a family-owned and managed privately held company serving private-duty nursing solutions for medically fragile children. The company focuses on improving services for home healthcare through communication, and compassionate care coupled with clinical excellence. The company caters to patients from birth to the age of 21 years through registered nurses and licensed vocational nurses. The company provides an online patient portal, Kantime Client Portal, with tracking and monitoring features. The company has 14 business offices in Texas, U.S.
Enviva Pediatric Care: The company is a privately held nursing services specialist for pediatrics and young adults. The company provides tailored care plans as per an individual’s health and development needs. The services available at Enviva include complex medical needs, mental health, physical disabilities, respite care, and privately funded care. In addition, the company also functions as a recruitment agency for health and social care. Moreover, the company serves both professional nursing services and personal care services for babies, children, and young adults.
Interim HealthCare, Inc.: The company is a privately held home care, hospice, and medical staffing company. The company is part of Caring Brands International, which also manages Bluebird Care in the UK and Just Better Care in Australia. Throughout the U.S., Interim Healthcare provides its home health, hospice, senior care, palliative care, healthcare staffing, and pediatric care services through 300 owned franchises. The company provides its services through its workforce of nurses, therapists, aides, and other healthcare personnel.
Supply Side Estimates
Company revenue estimation via referring to annual reports, investor presentations, and Hoover’s.
Segment revenue determination via variable analysis and penetration modeling.
Competitive benchmarking to identify market leaders and their collective revenue shares.
Forecasting via analyzing commercialization rates, pipelines, market initiatives, distribution networks, etc.
Demand side estimates
Identifying parent markets and ancillary markets
Segment penetration analysis to obtain pertinent
Heuristic forecasting with the help of subject matter experts
Forecasting via variable analysis
Understanding market dynamics (in terms of drivers, restraints, & opportunities) in the countries.
Understanding trends & variables in the individual countries & their impact on growth and using analytical tools to provide high-level insights into the market dynamics and the associated growth pattern.
Understanding market estimates and forecasts (with the base year as 2022, historic information from 2018 to 2021, and forecast from 2023 to 2030). Regional estimates & forecasts for each category are available and are summed up to form the global market estimates.
The report provides market value for the base year 2022 and a yearly forecast till 2030 in terms of revenue/volume or both. The market for each of the segment outlooks has been provided on region & country basis for the above-mentioned forecast period.
The key industry dynamics, major technological trends, and application markets are evaluated to understand their impact on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis.
We have used the bottom-up approach for market sizing, analyzing key regional markets, dynamics, & trends for various products and end-users. The total market has been estimated by integrating the country markets.
All market estimates and forecasts have been validated through primary interviews with the key industry participants.
Inflation has not been accounted for to estimate and forecast the market.
Numbers may not add up due to rounding off.
Europe consists of EU-8, Central & Eastern Europe, along with the Commonwealth of Independent States (CIS).
Asia Pacific includes South Asia, East Asia, Southeast Asia, and Oceania (Australia & New Zealand).
Latin America includes Central American countries and the South American continent
Middle East includes Western Asia (as assigned by the UN Statistics Division) and the African continent.
GVR strives to procure the latest and unique information for reports directly from industry experts, which gives it a competitive edge. Quality is of utmost importance to us, therefore every year we focus on increasing our experts’ panel. Primary interviews are one of the critical steps in identifying recent market trends and scenarios. This process enables us to justify and validate our market estimates and forecasts to our clients. With more than 8,000 reports in our database, we have connected with some key opinion leaders across various domains, including healthcare, technology, consumer goods, and the chemical sector. Our process starts with identifying the right platform for a particular type of report, i.e., emails, LinkedIn, seminars, or telephonic conversation, as every report is unique and requires a differentiated approach.
We send out questionnaires to different experts from various regions/ countries, which is dependent on the following factors:
Report/Market scope: If the market study is global, we send questionnaires to industry experts across various regions, including North America, Europe, Asia Pacific, Latin America, and MEA.
Market Penetration: If the market is driven by technological advancements, population density, disease prevalence, or other factors, we identify experts and send out questionnaires based on region or country dominance.
The time to start receiving responses from industry experts varies based on how niche or well-penetrated the market is. Our reports include a detailed chapter on the KoL opinion section, which helps our clients understand the perspective of experts already in the market space.