Global Home Healthcare Market Size (2024 - 2029)

The market size of the global home healthcare sector is expected to grow significantly due to the impact of the COVID-19 pandemic, which has increased the demand for home-based care. The market's expansion is also driven by a rise in disposable income, an increase in surgical procedures, and technological advancements in the home healthcare field. However, a lack of awareness in developing and underdeveloped countries may restrain the market's growth. Despite this potential challenge, the home healthcare market is anticipated to continue its upward trend in the coming years.

Market Size of Global Home Healthcare Industry

Home Healthcare Market Summary
Study Period 2019 - 2029
Market Size (2024) USD 309.07 Billion
Market Size (2029) USD 500.39 Billion
CAGR (2024 - 2029) 8.46 %
Fastest Growing Market Asia Pacific
Largest Market North America

Major Players

Home Healthcare Market Major Players

*Disclaimer: Major Players sorted in no particular order

setting-icon

Need a report that reflects how COVID-19 has impacted this market and its growth?

Home Healthcare Market Analysis

The Global Home Healthcare Market size is estimated at USD 309.07 billion in 2024, and is expected to reach USD 500.39 billion by 2029, growing at a CAGR of 8.46% during the forecast period (2024-2029).

The COVID-19 pandemic significantly impacted the home healthcare market. Home health hub technology made it possible for patients to stay safe in their homes during the pandemic while putting less strain on hospitals, emergency rooms, and front-line healthcare workers, which positively affected the market. For instance, according to a research study published in the Lancet Regional Health in August 2021, home-based care has been in high demand ever since the COVID-19 pandemic began to relieve hospital overcrowding and enable patients with chronic illnesses or non-severe COVID-19 to receive treatment and monitoring at home. Thus, the pandemic positively impacted the home healthcare market and is expected to continue the upward trend over the forecast period.

The major drivers for the home healthcare market include rising disposable income, increasing surgical procedures, and rapid technological advancements in home healthcare. For instance, according to the PETERSON-KFF Health System Tracker data published in February 2022, healthcare spending in the United States increased by 9.7% to reach USD 4.1 trillion in 2020, an increase of around 4.3% compared to the previous year. The acceleration was due to a 36.0% increase in federal expenditures for health care that occurred largely in response to the COVID-19 pandemic. The same source also stated that the private business share of health spending accounted for 16.7% of total healthcare spending, state and local governments accounted for 14.3%, and other private revenues accounted for 6.5%. Thus, such an increasing disposable income is expected to propel the demand for home healthcare, which may surge the market growth.

The increasing number of surgical procedures across the globe is also expected to create demand for home healthcare services. For instance, according to the report published by the Department of Health & Family Welfare and Ministry of Health & Family Welfare in 2021-2022, till September 2021, about 8.29 lakh people visited OPDs, and around 33,830 surgeries were performed in Safdarjung Hospital, India. The same source also reported that around 25,101 minor surgeries were performed, and around 9,327 major surgeries were performed in India for 2020-21. Furthermore, from April 2021 to September 2021, around 7,223 minor surgeries and 17,004 surgeries were performed in India. Patients undergoing surgery require rigorous post-surgical care and constant health monitoring; thus, most people opt for home healthcare services. Thus, increasing cases of surgeries is expected to propel the market growth.

Furthermore, technological advances in the home healthcare space and increasing home healthcare services are also expected to boost market growth. In March 2022, Biofourmis announced that it had been selected by Blessing Health System in Quincy, Illinois, as a technology solutions partner for its newest program that delivers acute hospital care in patient's homes. Similarly, in December 2022, Tomorrow Health, a health tech company, launched a clinical rules engine that automates orders of durable medical equipment as a part of homecare. Thus, owing to such factors, the market is expected to grow considerably over the forecast period.

However, a lack of awareness among developing and underdeveloped countries will likely restrain market growth over the forecast period.

Home Healthcare Industry Segmentation

As per the report's scope, home health care (HHC) is intended to deliver various health services and equipment to patients at home. The HHC services are helpful when an individual requires a prolonged stay in healthcare facilities. These HHC services include various equipment, therapies, diagnosis, and software to help physicians plan efficient treatment procedures in home-care settings. The Home Healthcare Market is Segmented by Product and Services (Equipment, (Therapeutics, Diagnostics, and Mobility Care), Software and Services (Rehabilitation Services, Respiratory Therapy Services, Infusion Therapy Services, and Other Services), and Geography (North America, Europe, Asia-Pacific, Middle East & Africa, and South America). The report also covers the estimated market sizes and trends for 17 countries across major regions globally. The report offers the value (in USD) for the above segments.

By Product and Services
Equipment
Therapeutic
Diagnostic
Mobility Care
Software
Services
Rehabilitation Services
Respiratory Therapy Services
Infusion Therapy Services
Other Services
Geography
North America
United states
Canada
Mexico
Europe
Germany
United Kingdom
France
Italy
Spain
Rest of Europe
Asia-Pacific
China
Japan
India
Australia
South Korea
Rest of Asia-Pacific
Middle-East and Africa
GCC
South Africa
Rest of Middle-East and Africa
South America
Brazil
Argentina
Rest of South America

Global Home Healthcare Market Size Summary

The global home healthcare market is projected to experience substantial growth, driven by factors such as the COVID-19 pandemic, rising disposable income, increasing surgical procedures, and rapid technological advancements. The pandemic has significantly influenced the market as home health hub technology enabled patients to receive treatment and monitoring at home, mitigating the strain on hospitals and healthcare workers. Additionally, the market is propelled by growing disposable income, which is expected to increase the demand for home healthcare services. The market is further fuelled by the increasing number of surgical procedures globally, as patients require rigorous post-surgical care and constant health monitoring. Technological advancements in the home healthcare sector and the rise of home healthcare services are also contributing to market growth. However, a lack of awareness in developing and underdeveloped countries may hinder market expansion. The diagnostic equipment segment is expected to hold the largest market share due to the rise in chronic disorders requiring continuous monitoring. The market in North America is also predicted to witness considerable growth due to factors like the high adoption of sophisticated technology, increasing healthcare spending, and rising demand for better healthcare services.

Explore More

Global Home Healthcare Market Size - Table of Contents

  1. 1. MARKET DYNAMICS

    1. 1.1 Market Overview

    2. 1.2 Market Drivers

      1. 1.2.1 Rising Disposable Income and Increasing Cases of Surgical Procedures

      2. 1.2.2 Rapid Technological Advancements in Home Healthcare

    3. 1.3 Market Restraints

      1. 1.3.1 Lack of Awareness among the Developing and Underdeveloped Countries

    4. 1.4 Porter's Five Forces Analysis

      1. 1.4.1 Bargaining Power of Buyers/Consumers

      2. 1.4.2 Bargaining Power of Suppliers

      3. 1.4.3 Threat of New Entrants

      4. 1.4.4 Threat of Substitute Products

      5. 1.4.5 Intensity of Competitive Rivalry

  2. 2. MARKET SEGMENTATION (Market Size by Value - USD)

    1. 2.1 By Product and Services

      1. 2.1.1 Equipment

        1. 2.1.1.1 Therapeutic

        2. 2.1.1.2 Diagnostic

        3. 2.1.1.3 Mobility Care

      2. 2.1.2 Software

      3. 2.1.3 Services

        1. 2.1.3.1 Rehabilitation Services

        2. 2.1.3.2 Respiratory Therapy Services

        3. 2.1.3.3 Infusion Therapy Services

        4. 2.1.3.4 Other Services

    2. 2.2 Geography

      1. 2.2.1 North America

        1. 2.2.1.1 United states

        2. 2.2.1.2 Canada

        3. 2.2.1.3 Mexico

      2. 2.2.2 Europe

        1. 2.2.2.1 Germany

        2. 2.2.2.2 United Kingdom

        3. 2.2.2.3 France

        4. 2.2.2.4 Italy

        5. 2.2.2.5 Spain

        6. 2.2.2.6 Rest of Europe

      3. 2.2.3 Asia-Pacific

        1. 2.2.3.1 China

        2. 2.2.3.2 Japan

        3. 2.2.3.3 India

        4. 2.2.3.4 Australia

        5. 2.2.3.5 South Korea

        6. 2.2.3.6 Rest of Asia-Pacific

      4. 2.2.4 Middle-East and Africa

        1. 2.2.4.1 GCC

        2. 2.2.4.2 South Africa

        3. 2.2.4.3 Rest of Middle-East and Africa

      5. 2.2.5 South America

        1. 2.2.5.1 Brazil

        2. 2.2.5.2 Argentina

        3. 2.2.5.3 Rest of South America

Global Home Healthcare Market Size FAQs

The Global Home Healthcare Market size is expected to reach USD 309.07 billion in 2024 and grow at a CAGR of 8.46% to reach USD 500.39 billion by 2029.

In 2024, the Global Home Healthcare Market size is expected to reach USD 309.07 billion.

Home Healthcare Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)