An upsurge in demand for telehealth systems, coupled with a rapid adoption rate of endless numbers of home healthcare systems globally amid the COVID-19 outbreak owing to lack of sufficient isolation wards & critical units.
Market Size – USD 280.76 Billion in 2019, Market Growth – CAGR of 11.6%, Market Trends – Increase in demand for the home healthcare solutions for geriatric & contagious diseases.
The Global Home Healthcare Market is forecast to reach USD 680.35 Billion by 2027. The global Home Healthcare market is currently observing a tremendous pace owing to the growing prevalence of the telehealth system, the rising cost of the hospital beds, unavailability of the ambulance service in rural or remote areas, availability of the skilled nursing care at home, and overall affection for the home healthcare systems compared to hospital admissions coupled with growing geriatric population, pediatric deformity, the proliferation of chronic diseases, and the rising rate of novel pandemics globally.
Tele-ICU has been one of the most trendy technology in the ICU management or critical care patient monitoring market, due to its cost-effective solutions against conventional 24/7 critical care team monitoring for a particular patient. Tele-ICU provides incessant technological advancements in centralized and remote patient monitoring through a number of hardware and software deployed in intensive care units. Incorporating a minimal amount of handy hardware can provide highly spontaneous solutions with advanced monitoring and alarming systems and reduce the burden of undergoing huge expenses of the critical care units, having treated the critical care patients right from their home.
The Global Home Healthcare Market is forecast to reach USD 680.35 Billion by 2027. The global Home Healthcare market is currently observing a tremendous pace owing to the growing prevalence of the telehealth system, the rising cost of the hospital beds, unavailability of the ambulance service in rural or remote areas, availability of the skilled nursing care at home, and overall affection for the home healthcare systems compared to hospital admissions coupled with growing geriatric population, pediatric deformity, the proliferation of chronic diseases, and the rising rate of novel pandemics globally.
Tele-ICU has been one of the most trendy technology in the ICU management or critical care patient monitoring market, due to its cost-effective solutions against conventional 24/7 critical care team monitoring for a particular patient. Tele-ICU provides incessant technological advancements in centralized and remote patient monitoring through a number of hardware and software deployed in intensive care units. Incorporating a minimal amount of handy hardware can provide highly spontaneous solutions with advanced monitoring and alarming systems and reduce the burden of undergoing huge expenses of the critical care units, having treated the critical care patients right from their home.
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The global Home Healthcare market is expected to register significant growth throughout the forecast period. The pharmaceutical & healthcare sector has register significant revenue growth over the recent past. Technological advancements in the healthcare and medical sector, availability of latest tools and techniques, increasing investments in the healthcare sector and improving healthcare infrastructure are key factors boosting market growth. In addition, rising funds by several public and private sectors, high adoption of POC diagnosis and home care settings, is further fueling market growth.
The current pandemic has been very challenging for all industries including the healthcare and pharma sector. Shortage of medicines, vaccines and others healthcare facilities is expected to open lucrative growth opportunities for market players in going ahead.
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Competitive Landscape:
The report offers detailed information about recent activities by market players, their market position, financial status, global standing, services and product portfolio along with license agreement. These key players are adopting various strategies such as partnerships, collaborations, merger and acquisitions, and joint ventures to gain robust footing in the market. These players are also investing in research and development activities to come up with enhanced materials and products.
Leading companies operating in the global Home Healthcare market
McKesson Medical-Surgical Inc., Medline Industries, Inc., 3M Healthcare, Brookdale Senior Living, Inc., Home Health Services Ltd., Genesis Healthcare Corp., Home Instead Senior Care, Inc., Care UK Limited, Becton, Dickinson And Company, ConvaTec Group PLC, and Extendicare, Inc. among many others.
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The report further sheds light on market segmentation and regional bifurcation.
Home Healthcare Market Segmentation:
Product Outlook (Revenue, USD Million; 2019-2027)
- Homecare Diagnostic
- Therapeutics
- Mobility Care
Software Outlook (Revenue, USD Million; 2019-2027)
- Agency Software
- Clinical Management Systems
- Hospice Solutions
Services Outlook (Revenue, USD Million; 2019-2027)
- Rehabilitation
- Infusion Therapy
- Unskilled Care
- Respiratory Therapy
- Pregnancy Care
- Skilled Nursing
- Telemetry
- Hospice & Palliative Care
Purposes Outlook (Revenue, USD Million; 2019-2027)
- Chronic Diseases
- Infectious Diseases
- Psychological Diseases
- Geriatric Diseases
- Pediatric Diseases
- Fertility Treatments & Pregnancy
- Intensive & Critical Care
- Injuries & Accidental Deformity
- Nutrition & General Consultancy
- Others
Types Outlook (Revenue, USD Million; 2019-2027)
- Home Healthcare Monitoring
- Home Healthcare Services
- Home Healthcare Software Solutions
Key Regional Markets:
- North America
- The U.S.
- Canada
- Europe
- Germany
- France
- The U.K.
- Spain
- Italy
- Rest of the Europe
- Asia Pacific
- China
- India
- Japan
- Rest of Asia-Pacific
- Middle East and Africa
- Latin America
- Brazil
Key findings in the report:
- Information about key trends, technological developments, growing focus on drug discovery and investments in research and development activities
- Detailed insights about manufactures, product portfolios, pricing analysis and financial pricing
- Technological developments and detailed analysis in the volatile competitive landscape.
- New strategies adopted by new and emerging market players
- Estimation about manufactures, sales and import and export dynamics
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