Home Healthcare Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The Home Healthcare Market is Segmented by Equipment (Therapeutic, Diagnostic, and Mobility Care), Software, Services, and Geography.

Market Snapshot

Home Healthcare Market Overview
Study Period: 2018 - 2026
Base Year: 2020
Fastest Growing Market: Asia Pacific
Largest Market: North America
CAGR: 12.5 %
Home Healthcare Market Key Players

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Market Overview

The home healthcare market studied was anticipated to witness a CAGR of 12.5% during the forecast period. The primary factor attributing to the growth of the market is a steep rise in the elderly population across all the geographical locations and increased preference for treatment within the home care settings. For instance, according to the United Nations data of World Population Prospects for 2019, the number of people over the age of 65 would increase from 9% in 2019 to more than 16% of the total world’s population by 2050. Thus, the rise in the volume of the target patient pool results in a higher demand for the market fueling the global home healthcare market growth over the forecast period.

Scope of the Report

Home health care (HHC) is intended to deliver a variety of health services and equipment to the patient while they are at home. The HHC services are majorly helpful when an individual requires a prolonged stay in healthcare facilities. These HHC services include various equipment, therapies, and diagnosis along with software to help the physicians to plan the efficient treatment procedures at the home-care settings. Thus, with increased preference among the geriatrics who prefer the treatment at home-care fuels the market throughout the forecast period.

Equipment
Therapeutic
Diagnostic
Mobility Care
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

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Key Market Trends

The Diagnostic Equipment Segment is Expected to Hold the Largest Market Share in the Home Healthcare Market

The diagnostic segment is expected to account for the most significant revenue over the forecast period due to a rise in the prevalence of chronic disorders, such as infectious diseases, diabetes, arthritis, cardiopulmonary, and cardiovascular conditions, which require continuous monitoring for efficient treatment. The rise in technological advancements in recent years led to the launch of new products for self-monitoring, like multi-parameter diagnostic monitors, home pregnancy, and fertility kits. This resulted in a high demand for these diagnostic equipment driving the market revenue over the forecast period.

Home Healthcare Market Key Trends

North America Dominates the Market and Expected to do Same in the Forecast Period.

North America is expected to dominate the overall HHC market throughout the forecast period. Dominance is due to the growing prevalence of various chronic diseases, like coronary heart diseases, respiratory disorders, and diabetes, the presence of a huge elderly population with a rise in baby boomers during the forecast period in the United States, necessitating efficient treatment while managing the healthcare costs without facing financial penalties. For instance, according to the International Diabetes Federation in 2019, about 48 million adults in North America were living with diabetes, among which more than half of the patients were over the age of 65. The numbers are expected to continue in the future, resulting in higher demand for the continuous monitoring equipment at homecare settings for efficient treatment of various diseases among the geriatric population driving the market in the region. Moreover, the rise in demand for HHC can be attributed to the increased convenience with the availability of non-skilled labor, caregivers, services, physicians, and various home healthcare equipment at homecare settings along with a rise in healthcare expenditures at hospital premises availability of in the region. Additionally, the presence of key players in the United States and the launch of new wearable patient monitoring devices, along with increased approvals by the USFDA, are expected to fuel the market. For example, in September 2018, Apple received FDA approval for its Apple watch series 4 as a class II medical device, which can detect falls and arrhythmias helping the patients and physicians, which is likely to drive the market growth contributing to its outstanding market share in the global HHC market.

Home Healthcare Market Growth Rate

Competitive Landscape

The home healthcare market is moderately competitive and consists of several major players. Some of the companies are expanding their market position by adopting various strategies, such as mergers and acquisitions, and research collaborations with other companies to launch innovative products and consolidate their market positions across the world. For example, in March 2019, ResMed consolidated its leading role in the Korean market by acquiring HB Healthcare (HBH). HB Healthcare Safety is a Korea-based home medical equipment manufacturer that offers coaching and technology services that help patients and healthcare providers. These types of strategic activities are expected to contribute to the growth of the home healthcare market. Some of the companies currently dominating the market are American Well, ResMed Inc., Fresenius SE & Co KGaA, F. Hoffmann-La Roche AG, and Apple Inc.

Table of Contents

  1. 1. INTRODUCTION

    1. 1.1 Study Deliverables

    2. 1.2 Study Assumptions

    3. 1.3 Scope of the Study

  2. 2. RESEARCH METHODOLOGY

  3. 3. EXECUTIVE SUMMARY

  4. 4. MARKET DYNAMICS

    1. 4.1 Market Overview

    2. 4.2 Market Drivers

      1. 4.2.1 Rising Disposable Income and High Incidence of Surgical Procedures

      2. 4.2.2 Rapid Technological Advancements in Home Healthcare

    3. 4.3 Market Restraints

      1. 4.3.1 Lack of Awareness among the Developing and Underdeveloped Countries

    4. 4.4 Porter's Five Forces Analysis

      1. 4.4.1 Threat of New Entrants

      2. 4.4.2 Bargaining Power of Buyers/Consumers

      3. 4.4.3 Bargaining Power of Suppliers

      4. 4.4.4 Threat of Substitute Products

      5. 4.4.5 Intensity of Competitive Rivalry

  5. 5. MARKET SEGMENTATION

    1. 5.1 Equipment

      1. 5.1.1 Therapeutic

      2. 5.1.2 Diagnostic

      3. 5.1.3 Mobility Care

    2. 5.2 Software

    3. 5.3 Services

      1. 5.3.1 Rehabilitation Services

      2. 5.3.2 Respiratory Therapy Services

      3. 5.3.3 Infusion Therapy Services

      4. 5.3.4 Other Services

    4. 5.4 Geography

      1. 5.4.1 North America

        1. 5.4.1.1 United states

        2. 5.4.1.2 Canada

        3. 5.4.1.3 Mexico

      2. 5.4.2 Europe

        1. 5.4.2.1 Germany

        2. 5.4.2.2 United Kingdom

        3. 5.4.2.3 France

        4. 5.4.2.4 Italy

        5. 5.4.2.5 Spain

        6. 5.4.2.6 Rest of Europe

      3. 5.4.3 Asia-Pacific

        1. 5.4.3.1 China

        2. 5.4.3.2 Japan

        3. 5.4.3.3 India

        4. 5.4.3.4 Australia

        5. 5.4.3.5 South Korea

        6. 5.4.3.6 Rest of Asia-Pacific

      4. 5.4.4 Middle-East and Africa

        1. 5.4.4.1 GCC

        2. 5.4.4.2 South Africa

        3. 5.4.4.3 Rest of Middle-East and Africa

      5. 5.4.5 South America

        1. 5.4.5.1 Brazil

        2. 5.4.5.2 Argentina

        3. 5.4.5.3 Rest of South America

  6. 6. COMPETITIVE LANDSCAPE

    1. 6.1 Company Profiles

      1. 6.1.1 Amedisys Home Health and Hospice Care

      2. 6.1.2 American Well

      3. 6.1.3 Apple Inc.

      4. 6.1.4 CVS Health

      5. 6.1.5 Fresenius SE & Co KGaA

      6. 6.1.6 F. Hoffmann-La Roche AG

      7. 6.1.7 Humana Inc.

      8. 6.1.8 LHC Group Inc.

      9. 6.1.9 Kindred Healthcare

      10. 6.1.10 Resmed Inc.

    2. *List Not Exhaustive
  7. 7. MARKET OPPORTUNITIES AND FUTURE TRENDS

**Subject to Availability
**Competitive Landscape covers- Business Overview, Financials, Products and Strategies, and Recent Developments

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Frequently Asked Questions

The Home Healthcare Market market is studied from 2018 - 2026.

The Home Healthcare Market is growing at a CAGR of 12.5% over the next 5 years.

Asia Pacific is growing at the highest CAGR over 2021- 2026.

North America holds highest share in 2020.

American Well, Fresenius SE & Co KGaA, F. Hoffmann-La Roche AG, Apple Inc, Resmed Inc are the major companies operating in Home Healthcare Market.

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