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Rapid increases in the older population and the prevalence of chronic diseases have been observed in recent market trends. A combination of rising healthcare expenses and improved accessibility to affordable home care equipment is driving a greater demand for innovative approaches to provide quality medical care at a reasonable price.
The number of elderly people living in the world today is rapidly expanding. There were 703 million persons worldwide who were 65 or older in 2019, according World Population Prospects 2019 (United Nations, 2019). It is projected that by 2050, there will be 1.5 billion people aged 60 and up. The percentage of the world's population that is 65 or older has climbed from 6% in 1990 to 9% in 2019. One-sixth of the world's population, or 1.6 billion people, are projected to be 65 or older by the year 2050. The greatest risk factor for having chronic conditions that require long-term care is getting older. Alzheimer's disease (the likelihood of suffering from Alzheimer's disease approaches 50% in those beyond 85 years old), dementia, and orthopaedic issues that impede movement are major diseases connected with old age.
In addition, technological progress is probably going to help the home healthcare business expand. In this regard, active home telemonitoring equipment can be of great use to the home health agency by recording vital signs and symptoms. Convenient-use devices are becoming popular among consumers. Because of the convenience and adaptability it offers, demand from patients is expected to rise. Use of insulin pumps, home dialysis machines, intravenous infusion sets, and blood pressure monitors are all examples.
Moreover, the geriatric population is expanding at a rapid clip, and the increased prevalence of chronic illness among the elderly has increased demand for these services. The WHO projects that by 2050, the population aged 60 and up will have increased from 1.20 billion to 1.40 billion. Cancer, neurological illnesses, mobility impairments, and cardiovascular diseases are all more common in this age range. As a result, the need for home health services to deliver long-term care will rise, driving market expansion during the predicted horizon. As post-acute care at home is frequently suggested by doctors following release from hospitals, it is expected that the rising number of surgeries around the world would increase the need for these services in the future years. The government and commercial insurance companies' efforts to cover home health care costs will also boost demand and drive the sector forward.
To better serve their clients and enter new markets, several companies in the Home Healthcare industry now produce their goods domestically. Recently, the market has provided medicine with some of its most significant benefits. Abbott, GE Healthcare, Axxess, CVS Pharmacy, and Becton Dickinson Company are just a few of the major competitors in the hair care product market that are investing in research and development to boost demand in the Home Healthcare market. Abbott Laboratories is a company that designs, manufactures, and sells healthcare products. Company products include laboratory tests, medical devices, vitamins, and generic medications with company names attached to them. Core laboratory systems, molecular diagnostics polymerase chain reaction (PCR) instrument systems, rapid diagnostics lateral flow testing products, point of care systems, and informatics and automation solutions, infant formula and follow-on formula, adult and other paediatric nutritional products, and informatics and automation solutions are all available.
The number of people over the age of 65 is expected to increase from 771 million in 2022 to 1.6 billion by 2050, according to the United Nations Department of Economic and Social Affairs. Also, there are already 143 million people in the world aged 80 and up, but that number is expected to triple by 2050. A growing elderly population means more people in need of healthcare, which is good news for the home healthcare industry because older people are more likely to suffer from chronic conditions like diabetes and heart disease. Healthcare delivered at home reduces the need for expensive hospital stays and further trips to visit specialists. Medicare-approved home healthcare agencies are the only ones eligible for insurance reimbursement in most countries in North America. Equipment used for telemetry, rehabilitation, or monitoring many parameters remotely is not covered by insurance. There is a lack of uniformity in insurance policies covering such gear across both Europe and North America. Insurance companies in Asian countries like India do not pay for preventative or in-home care for the elderly or those with chronic illnesses, only for care received after a hospital stay.
Report Coverage
Global Home Healthcare research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Home Healthcare report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Home Healthcare competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Home Healthcare market players and analyses their core competencies in each global market sub-segments.
Key Points Covered in the Report
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Home Healthcare market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Home Healthcare market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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.
Primary Target Market
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Home Healthcare market based on the below-mentioned segments:
Global Home Healthcare Market, By Type
Testing, Screening and Monitoring Products
Blood Glucose Monitors
Blood Pressure Monitors
Pulse Oximeters
Peak Flow Meters
Heart Rate Monitors
Fetal Monitoring Devices
HIV Test Kits
Home Sleep Testing Devices
Others
Global Home Healthcare market, By Service
Skilled Nursing Services
Rehabilitation Therapy Services
Hospice and Palliative Care Services
Unskilled Care Services
Respiratory Therapy Services
Infusion Therapy Services
Others
Global Home Healthcare Market, By Indication
Cardiovascular Disorders and Hypertension
Diabetes
Respiratory Diseases
Pregnancy
Mobility Disorders
Hearing Disorders
Cancer
Wound Care
Other
Global Home Healthcare market, Regional Analysis
The number of elderly people living in the world today is rapidly expanding. There were 703 million persons worldwide who were 65 or older in 2019, according World Population Prospects 2019 (United Nations, 2019). It is projected that by 2050, there will be 1.5 billion people aged 60 and up. The percentage of the world's population that is 65 or older has climbed from 6% in 1990 to 9% in 2019. One-sixth of the world's population, or 1.6 billion people, are projected to be 65 or older by the year 2050. The greatest risk factor for having chronic conditions that require long-term care is getting older. Alzheimer's disease (the likelihood of suffering from Alzheimer's disease approaches 50% in those beyond 85 years old), dementia, and orthopaedic issues that impede movement are major diseases connected with old age.
In addition, technological progress is probably going to help the home healthcare business expand. In this regard, active home telemonitoring equipment can be of great use to the home health agency by recording vital signs and symptoms. Convenient-use devices are becoming popular among consumers. Because of the convenience and adaptability it offers, demand from patients is expected to rise. Use of insulin pumps, home dialysis machines, intravenous infusion sets, and blood pressure monitors are all examples.
Moreover, the geriatric population is expanding at a rapid clip, and the increased prevalence of chronic illness among the elderly has increased demand for these services. The WHO projects that by 2050, the population aged 60 and up will have increased from 1.20 billion to 1.40 billion. Cancer, neurological illnesses, mobility impairments, and cardiovascular diseases are all more common in this age range. As a result, the need for home health services to deliver long-term care will rise, driving market expansion during the predicted horizon. As post-acute care at home is frequently suggested by doctors following release from hospitals, it is expected that the rising number of surgeries around the world would increase the need for these services in the future years. The government and commercial insurance companies' efforts to cover home health care costs will also boost demand and drive the sector forward.
To better serve their clients and enter new markets, several companies in the Home Healthcare industry now produce their goods domestically. Recently, the market has provided medicine with some of its most significant benefits. Abbott, GE Healthcare, Axxess, CVS Pharmacy, and Becton Dickinson Company are just a few of the major competitors in the hair care product market that are investing in research and development to boost demand in the Home Healthcare market. Abbott Laboratories is a company that designs, manufactures, and sells healthcare products. Company products include laboratory tests, medical devices, vitamins, and generic medications with company names attached to them. Core laboratory systems, molecular diagnostics polymerase chain reaction (PCR) instrument systems, rapid diagnostics lateral flow testing products, point of care systems, and informatics and automation solutions, infant formula and follow-on formula, adult and other paediatric nutritional products, and informatics and automation solutions are all available.
The number of people over the age of 65 is expected to increase from 771 million in 2022 to 1.6 billion by 2050, according to the United Nations Department of Economic and Social Affairs. Also, there are already 143 million people in the world aged 80 and up, but that number is expected to triple by 2050. A growing elderly population means more people in need of healthcare, which is good news for the home healthcare industry because older people are more likely to suffer from chronic conditions like diabetes and heart disease. Healthcare delivered at home reduces the need for expensive hospital stays and further trips to visit specialists. Medicare-approved home healthcare agencies are the only ones eligible for insurance reimbursement in most countries in North America. Equipment used for telemetry, rehabilitation, or monitoring many parameters remotely is not covered by insurance. There is a lack of uniformity in insurance policies covering such gear across both Europe and North America. Insurance companies in Asian countries like India do not pay for preventative or in-home care for the elderly or those with chronic illnesses, only for care received after a hospital stay.
Report Coverage
Global Home Healthcare research report categorizes the market for global based on various segments and regions, forecasts revenue growth, and analyzes trends in each submarket. Global Home Healthcare report analyses the key growth drivers, opportunities, and challenges influencing the global market. Recent market developments and Home Healthcare competitive strategies such as expansion, product launch and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key Home Healthcare market players and analyses their core competencies in each global market sub-segments.
| REPORT ATTRIBUTES | DETAILS |
|---|---|
| Study Period | 2017-2030 |
| Base Year | 2022 |
| Forecast Period | 2022-2030 |
| Historical Period | 2017-2021 |
| Unit | Value (USD Billion) |
| Key Companies Profiled | 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. |
| Segments Covered | • By Product |
| Customization Scope | Free report customization (equivalent to up to 3 analyst working days) with purchase. Addition or alteration to country, regional & segment scope |
Key Points Covered in the Report
- Market Revenue of Home Healthcare Market from 2021 to 2030.
- Market Forecast for Home Healthcare Market from 2021 to 2030.
- Regional Market Share and Revenue from 2021 to 2030.
- Country Market share within region from 2021 to 2030.
- Key Type and Application Revenue and forecast.
- Company Market Share Analysis, Home Healthcare competitive scenario, ranking, and detailed company
profiles. - Market driver, restraints, and detailed COVID-19 impact on Home Healthcare
Market
Competitive Environment:
The research provides an accurate study of the major organisations and companies operating in the global Home Healthcare market, along with a comparative evaluation based on their product portfolios, corporate summaries, geographic reach, business plans, Home Healthcare market shares in specific segments, and SWOT analyses. A detailed analysis of the firms' recent news and developments, such as product development, inventions, joint ventures, partnerships, mergers and acquisitions, strategic alliances, and other activities, is also included in the study. This makes it possible to assess the level of market competition as a whole.
List of Major Market Participants
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.
Primary Target Market
- Market Players of Home Healthcare
- Investors
- End-users
- Government Authorities
- Consulting And Research Firm
- Venture capitalists
- Third-party knowledge providers
- Value-Added Resellers (VARs)
Market Segment:
This study forecasts global, regional, and country revenue from 2019 to 2030. INFINITIVE DATA EXPERT has segmented the global Home Healthcare market based on the below-mentioned segments:
Global Home Healthcare Market, By Type
Testing, Screening and Monitoring Products
Blood Glucose Monitors
Blood Pressure Monitors
Pulse Oximeters
Peak Flow Meters
Heart Rate Monitors
Fetal Monitoring Devices
HIV Test Kits
Home Sleep Testing Devices
Others
Global Home Healthcare market, By Service
Skilled Nursing Services
Rehabilitation Therapy Services
Hospice and Palliative Care Services
Unskilled Care Services
Respiratory Therapy Services
Infusion Therapy Services
Others
Global Home Healthcare Market, By Indication
Cardiovascular Disorders and Hypertension
Diabetes
Respiratory Diseases
Pregnancy
Mobility Disorders
Hearing Disorders
Cancer
Wound Care
Other
Global Home Healthcare market, Regional Analysis
- Europe: Germany, Uk, France, Italy, Spain, Russia, Rest of Europe
- The Asia Pacific: China,Japan,India,South Korea,Australia,Rest of Asia Pacific
- South America: Brazil, Argentina, Rest of South America
- Middle East & Africa: UAE, Saudi Arabia, Qatar, South Africa, Rest of Middle East & Africa
About This Research
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