Global Home healthcare Market Size is projected to hit $839.0 billion by 2028 - Zion Market Research

Global Home healthcare Market Demand

Global Home healthcare Market Demand

Global Home healthcare Market Revenue

Global Home healthcare Market Revenue

The global Home healthcare market is expected to reach USD 839.0 Billion by 2028, growing at a CAGR of around 10.1% between 2021 and 2028

Home Healthcare Market Industry Overview by Product Type, Company Global Size, Share, Revenue, Trends, Statistics, and Services Analysis Forecast 2022-2028”
— Melvina Hebert
NEW YORK, NEW YORK, UNITED STATES, September 2, 2022/EINPresswire.com/ -- Zion Market Research has published a new report titled " Home Healthcare Market By Product (Diagnostics And Monitoring Home Devices, Therapeutics Home Healthcare Devices, Home Mobility Assist Devices, And Medical Supplies), By Services (Rehabilitation Services, Telehealth And Telemedicine Services, Infusion Therapy Services, Respiratory Therapy Services, And Unskilled Home Healthcare Services): Global Industry Perspective, Comprehensive Analysis And Forecast, 2020 – 2028." According to the report, The global Home healthcare market was worth USD 370.7 Billion in 2020 and is anticipated to reach USD 839.0 Billion by 2028, expanding at a CAGR of around 10.1% between 2021 and 2028.

The global Home healthcare market has witnessed significant growth during the pandemic. This is mainly attributed to the fact that the COVID-19 pandemic situation has led to the shortage of hospital beds, oxygen, medicines, and medical equipment, following the exponential rise in covid-19 cases. Hence, a rising number of private sector hospital chains are rapidly starting to provide home healthcare facilities, especially for covid-19 patients. The market would remain bullish in the upcoming year. The significant increase in the global Home healthcare market size in 2020 is estimated on the basis of the COVID-19 outbreak. Various scenarios have been analyzed on the basis of inputs from various secondary sources and the current data available about the situation.

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The report covers forecast and analysis for the Home healthcare market on a global and regional level. The study provides historic data from 2016 to 2019 along with a forecast from 2021 to 2028 based on revenue (USD Billion). The study includes drivers and restraints for the Home healthcare market along with the impact they have on the demand over the forecast period. Additionally, the report includes the study of opportunities available in the Home healthcare market on a global level.

This report offers comprehensive coverage of the global Home healthcare market along with, market trends, drivers, and restraints of the Home healthcare market. This report includes a detailed competitive scenario and product portfolio of key vendors. To understand the competitive landscape in the market, an analysis of Porter’s five forces model for the Home healthcare market has also been included. The study encompasses a market attractiveness analysis, wherein all segments are benchmarked based on their market size, growth rate, and general attractiveness. This report is prepared by using data sourced from in-house databases, and the secondary and primary research teams of industry experts. Research analysts and consultants cooperate with leading companies of the concerned domain to verify every value of data that exists in this report.

Regional Analysis Preview

North America, Europe, Asia-Pacific, Latin America and the Middle East & Africa are key regional markets for the home healthcare market. North America acquired the majority of share home healthcare market in 2020 and accounted for 41.05% of the overall market. North America is followed by Europe and Asia-Pacific in terms of demand for home healthcare. In terms of revenue, Asia Pacific was predicted to be the fastest-growing region in the forecast period. Increasing investments in the healthcare sector by the European government supports the growth of the home healthcare market in this region.

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The report segments the Home healthcare Market into:

Home healthcare Global Market By Products

Diagnostics and monitoring home devices
Therapeutics home healthcare devices
Home mobility assist devices
Medical supplies

Home healthcare Market By Services

Rehabilitation services
Telehealth and telemedicine services
Infusion therapy services
Respiratory therapy services
Unskilled home healthcare services

Home healthcare Market By Region

North America

The U.S.
Canada

Europe

France
The UK
Spain
Germany
Italy
Rest of Europe

Asia Pacific

China
Japan
India
South Korea
Southeast Asia
Rest of Asia Pacific

Latin America

Brazil
Mexico
Rest of Latin America

Middle East & Africa

GCC
South Africa
Rest of the Middle East & Africa

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Growth Factors

The global home healthcare market is mainly driven by the increasing geriatric population, rising healthcare costs, and technological advancements in healthcare devices. With increasing health awareness among people, and an increase in the number of people diagnosed with chronic diseases such as diabetes cardiac disorders, and respiratory diseases, the demand for the home healthcare market is expected to grow in the near future. The population of geriatric people is growing rapidly across the world. The geriatric population is more vulnerable to chronic diseases such as diabetes. This, in turn, is expected to fuel the growth of the home healthcare market. However, changing reimbursement policies and limited insurance coverage may pose a challenge to the home healthcare market growth in the near future. Rapid job growth in home healthcare services is expected open alluring avenues for market growth over the next few years.

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Segment Analysis Preview

Based on product segments, the home healthcare market has been segmented into diagnostics and monitoring home devices, therapeutics home healthcare devices, medical supplies, and home mobility assists devices. Diagnostic and monitoring devices include blood pressure monitors, pregnancy test kits, heart rate monitors, temperature monitors, and others. In 2020, diagnostic and monitoring devices were the major segment of the global home healthcare market in terms of revenue and are expected to continue their dominance in the global market over the forecast period.

The medical supplies product segment was the second largest segment of home healthcare and constituted a 27.89% share of the global demand in 2020. Further, it is expected to grow at the fastest pace in the forecast period. Conversely, the home mobility assistive devices product segment held a smaller share of the global home healthcare market in 2020.

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Melvina Hebert
Zion Market Research
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