Home Healthcare Market Size Worth $515.6 Billion By 2027 | CAGR: 7.9%

Home Healthcare Market Growth & Trends

The global home healthcare market size is anticipated to reach USD 515.6 billion by 2027, registering a CAGR of 7.9%, according to a new report by Grand View Research, Inc. This growth can be attributed to cost-efficiency, improved patient outcomes, and convenience offered by home healthcare agencies. In addition, rising geriatric population and growing prevalence of chronic diseases such as Alzheimer’s, dementia, and orthopedic conditions, is expected to drive market growth. As per the Population Reference Bureau data updated in June 2019, the number of people aged 65 years and above was 52 million in 2018 and is projected to double by 2060 to reach 95 million. The World Health Organization (WHO) statistics state that there are around 50 million dementia patients in the world with 10 million new cases getting added every year. This number is expected to reach 82 million by 2030.

The elderly population is expected to outnumber the children population in the span, which is a demographic shift and poses to be a public health challenge. Besides, maintenance and establishment of hospitals and other healthcare settings need high capital investment. Some of the healthcare solutions providers are following merger and acquisition strategy to enter the market, in order to provide cost-effective service and leverage the expertise of the merged or acquired firm. Also, shifting trends toward in-home healthcare services for patients to avoid hospital stay is another key factor driving home healthcare market growth. In the past several years, the number of nursing facilities has reduced, while the in-home nursing programs have doubled.

 Request a free sample copy or view report summary: Home Healthcare Market Report

Home Healthcare Market Report Highlights

• Services dominated the component segment in 2019 attributed to the growing demand for skilled nurse in-home healthcare for services like physical and occupational therapy

• Growing demand for the skilled nurses at home for rehabilitation service, wound dressings, tube feedings, and maintaining stable patient health drive the growth of this segment. Mainly, patients suffering major trauma due to accidents or those suffering from strokes opt for rehabilitation services for improving their way of talking, walking, and feeding themselves all over again

• Key manufacturers operating in the market are Medline Industries, Inc.; McKesson Medical-Surgical Inc.; Medtronic Plc; Baxter International Inc.; Becton, Dickinson And Company; Cardinal Health; and GE Healthcare

• The key service providers are 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.; and Home Instead Senior Care, Inc. The key software solution providers are Allscripts Healthcare Solutions, Inc.; Epic Systems Corporation; Cerner; and McKesson Corporation

Home Healthcare Market Segmentation

Grand View Research has segmented the global home healthcare market based on components and Regions:

Home Healthcare Component Outlook (Revenue, USD Million; 2016 - 2027)

• 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 meters

    • Other

  • Mobility Assist

    • Wheel chair

    • Home medical furniture

    • Walking assist devices

• Services

  • Skilled home healthcare

    • Physician/primary care

    • Nursing care

    • Physical, occupational, and/or speech therapy

    • Nutritional support

    • Hospice & palliative care

    • Other skilled home care services

  • Unskilled home healthcare

Home Healthcare Regional Outlook (Revenue, USD Million, 2016 - 2027)

• North America

  • U.S.

  • Canada

• Europe

  • UK

  • Germany

  • Sweden

  • France

  • Italy

  • Russia

  • Netherlands

  • Spain

• Asia Pacific

  • Japan

  • China

  • India

  • Australia

  • Singapore

  • Thailand

  • Philippines

  • Korea

  • Malaysia

• Latin America

  • Brazil

  • Mexico

  • Argentina

• Middle East & Africa

  • South Africa

  • Saudi Arabia

  • Oman

  • Egypt

  • UAE

List of Key Players in the Home Healthcare Market:

• 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.