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The home healthcare services market size is forecast to increase by USD 51.53 billion at a CAGR of 10.03% between 2023 and 2028. The market is experiencing significant growth due to several key trends and drivers. The aging population, particularly those with chronic conditions such as pregnancy care services, cancer, respiratory conditions, cardiovascular conditions, hypertension, diabetes, hearing impairments, and others, are increasingly opting for home healthcare services for improved patient comfort and convenience. Additionally, the adoption of connected healthcare solutions, including telemedicine, home healthcare agencies, smart sensors, and telehealth platforms, is gaining acceptance among health organizations and patients. These technologies enable medical monitoring and remote patient care, addressing the limited availability of skilled workforce in remote areas. Overall, the home healthcare market is poised for growth, offering opportunities for innovation and improvement in patient care.
The home healthcare sector is experiencing significant growth due to the increasing prevalence of chronic illnesses and an aging population. According to health systems, home healthcare services offer patient comfort and convenience, making them an attractive alternative to traditional institutional care. The services segment, which includes telehealth and virtual medical services, is expected to dominate the market due to the growing adoption of remote patient monitoring and telemedicine. Home healthcare agencies provide a range of services, including skilled nursing care, rehabilitation segment, and medical social services. These services cater to various needs, such as physical therapy, occupational therapy, speech therapy, and personal care support.
Furthermore, the rehabilitation segment is projected to witness substantial growth due to the rising incidence of chronic diseases and the increasing preference for home-based care. Smart sensors and telehealth platforms enable healthcare organizations to monitor patients remotely and provide timely interventions, improving patient outcomes and reducing hospital readmissions. The integration of educational services and licensed healthcare providers further enhances the quality of care delivered through home healthcare services.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The therapeutic services segment is estimated to witness significant growth during the forecast period. Home healthcare services encompass a range of unskilled and skilled services designed to cater to the medical needs of individuals in the comfort of their homes. These services include medical expenditure for therapeutic, diagnostic, and mobility assistance for those with neurological and mental disorders, such as Alzheimer's disease and mobility disorders, as well as lifestyle diseases like obesity. Skilled nursing services are essential for critically ill patients or those at high risk of medical conditions, who may require home intensive care unit (ICU) services. Postoperative care, primary care, and geriatric population care are also integral parts of home healthcare services.
Furthermore, with healthcare reforms emphasizing value-based care services, patient monitoring devices have become increasingly important for remote patient monitoring and early intervention. Home healthcare services are a crucial component of the healthcare industry, providing essential care for individuals with diverse medical needs. Skilled healthcare professionals offer therapeutic services, including wound management and rehabilitation, to help patients recover from surgeries and medical conditions, ensuring optimal health outcomes.
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The therapeutic services segment was valued at USD 28.79 billion in 2018 and showed a gradual increase during the forecast period.
North America is estimated to contribute 39% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in North America is experiencing significant growth due to several factors. The increasing prevalence of chronic conditions such as neurological and mental disorders, mobility disorders, and lifestyle diseases, including Alzheimer's disease, obesity, and diabetes, necessitates long-term care. The adoption of home healthcare services is on the rise, particularly for postoperative care and primary care, as they offer convenience, affordability, and effectiveness. Moreover, healthcare reforms and the shift towards value-based care services have led to an increased focus on home healthcare.
Furthermore, the availability of advanced patient monitoring devices and skilled nursing services, including therapeutic, diagnostic, and mobility assistance, further bolster market growth. In developed countries like the US and Canada, the easy accessibility of home healthcare services and the presence of a skilled workforce are contributing factors to the market's expansion in the region.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The rising geriatric population is the key driver of the market. The global aging population is experiencing significant growth, with the World Health Organization estimating that the proportion of the world's population aged 60 years and above will nearly double from 12% in 2015 to 22% by 2050. This demographic shift is particularly noticeable in Asian countries such as China, India, and Indonesia, as well as in North American nations like the US, Canada, and Mexico, where the geriatric population is projected to quadruple by the end of this decade. Home healthcare services have emerged as a viable solution for the care of bed-ridden patients, elderly individuals, and those undergoing long-term recovery plans for conditions such as ortho rehab, heart rehab, neuro rehab, and lung rehab.
Furthermore, home care facilities offer patient-centric care, enabling elderly patients to receive skilled home healthcare services or unskilled care as needed. Patient monitoring is a crucial aspect of home healthcare, ensuring optimal recovery rates and maintaining the health and well-being of patients. Reimbursement policies and insurance coverage for home healthcare services continue to evolve, making it an increasingly attractive option for patients and their families.
Connected healthcare is gaining acceptance among healthcare services is the upcoming trend in the market. Connected healthcare services have revolutionized home healthcare by enabling bed-ridden old patients and those in need of long-term plans, such as ortho rehab for heart, neuro, or lung conditions, to receive patient-centric care at home. Skilled home healthcare services, including those for patient monitoring and unskilled care, are increasingly being delivered through connected devices and technology platforms.
Furthermore, these services allow elderly care patients to stay connected with healthcare professionals, facilitating timely intervention and improving recovery rates. Reimbursement policies continue to evolve to accommodate the growing importance of connected healthcare, making it an essential component of the market. By delivering skilled services like therapy and disease management through connected devices, healthcare providers can effectively monitor patient progress and adjust care plans accordingly, ultimately leading to better health outcomes.
The limited availability of skilled workforce is a key challenge affecting the market growth. Home healthcare services have gained significant importance in the care of bedridden patients and elderly individuals, particularly those requiring long-term plans for recovery from ortho rehab, heart rehab, neuro rehab, or lung rehab. The convenience and patient-centric care offered by home healthcare services have led to increased patient satisfaction and improved compliance with treatment plans.
However, challenges persist, including reimbursement policies and the availability of skilled home healthcare services in developing countries. Unskilled home healthcare services are more prevalent in these regions, limiting the quality of care. Despite these challenges, they offer numerous benefits, such as proactive care, patient monitoring, and the ability to bring diagnostics, treatment, and prevention to the patient, thereby improving population health. They are crucial for elderly care, enabling individuals to receive care in the comfort of their own homes, which is essential for those with mobility issues or chronic conditions.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
AccentCare Inc: The company offers home healthcare services that includes care management, health alert systems, medical home care, hospice and palliative care, and home health.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is experiencing significant growth due to the increasing prevalence of chronic illnesses in the aging population. According to health systems, home healthcare is becoming an essential part of patient-centric care, especially for those with chronic conditions such as cancer, respiratory conditions, cardiovascular conditions, hypertension, diabetes, hearing impairments, neurological and mental disorders including Alzheimer's disease, and mobility disorders. They include skilled and unskilled care, rehabilitation therapy services, infusion therapy services, pregnancy care services, and mobility care items. Telehealth, virtual medical services, and remote patient monitoring are transforming home healthcare by enabling real-time medical monitoring, educational services, and insurance coverage for home healthcare services.
Home healthcare agencies are integrating smart sensors, telehealth platforms, and medical monitoring devices to improve patient comfort and recovery rate. The segment includes skilled nursing services, therapeutic services, diagnostic services, and mobility assistance. The rehabilitation segment includes ortho rehab, heart rehab, neuro rehab, lung rehab, elderly care, and personal care support. Reimbursement policies, medical expenditure, and healthcare reforms are key factors influencing the market. They are covered by Medicare, Medicaid, and insurance companies. Home healthcare agencies employ licensed healthcare providers, certified caregivers, nursing staff, home health aides, personal care assistants, licensed practical nurses, registered nurses, physical therapists, occupational therapists, speech-language pathologists, and social workers. Medical equipment rental, home infusion therapy, and artificial intelligence are also part of the market. They are essential for bed-ridden patients and old patients, enabling them to receive care in the comfort of their homes, improving their quality of life and recovery rate.
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Market Scope |
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Report Coverage |
Details |
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Page number |
145 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 10.03% |
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Market growth 2024-2028 |
USD 51.53 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
8.88 |
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Regional analysis |
North America, Asia, Europe, and Rest of World (ROW) |
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Performing market contribution |
North America at 39% |
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Key countries |
US, China, UK, India, and Germany |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
AccentCare Inc., Addus HomeCare Corp., Advino Healthcare Pvt ltd., Allied Healthcare Products Inc., Amedisys Inc., Apollo Homecare, Bluebird Care network, Brookdale Senior Living Inc., CVS Health Corp., Genesis Healthcare Inc., Grand world Elder Care, Health Vista Private Ltd., Kindred Healthcare LLC, LHC GROUP Inc., Magic Potion Technology Pvt Ltd., Max Healthcare, Philips International BV, ProMedica Health System Inc., Sutter Health, and TriBeCa Care |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
We can help! Our analysts can customize this market research report to meet your requirements. Get in touch
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Opportunity/Restraints
10 Competitive Landscape
11 Competitive Analysis
12 Appendix
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