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The rise in acute chronic diseases especially among the geriatric population is said to contribute to the growth of the Home Health Care Market

HYDERABAD, TELANGANA, INDIA, January 10, 2023 /EINPresswire.com/ -- The Home Health Care Market size is estimated to be $308 billion and is said to be growing at a CAGR of 7.37% during the forecast period 2019-2025, to reach a revenue of $505.58 billion in 2025. The growth of the Home Health Care Market is owing to an increasing prevalence of chronic diseases, especially among elderly people. Home health care includes not just elderly care, but also, special needs patient care, antepartum services, and more. Another major factor driving the home healthcare market is, the increasing number of respiratory disorders such as asthma and chronic obstructive pulmonary diseases. According to WHO, respiratory diseases are the third leading cause of death worldwide. As the incidence of respiratory and cardiac diseases has increased, the use of devices such as peak flow meters, pulse oximeters and holter monitors has increased in homes.

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Key Takeaways

1. Home health care includes therapy, nursing and other services provided at the patient’s homes in order to aid them in performing their day-to-day activities. Home health care is a cost-effective and convenient alternative to hospital stays.

2. Asia Pacific is said to be the fastest-growing market by geographic region due to advances in technology, the rising geriatric population and the prevalence of chronic diseases here.

Segment Analysis

1. On the basis of equipment, diagnostic equipment is the fastest-growing segment with a CAGR of 4.5%. As the prevalence of diabetes and heart and respiratory diseases increases, the demand for diagnostic equipment has also increased. They can be used by these patients, at their homes, to monitor their heart rates, sugar levels, and respiratory patterns. Equipment such as fetal monitoring equipment is now commonly being used by mothers to monitor the heartbeat of their baby continuously, in the comfort of their homes.

2. On the basis of service, rehabilitation services hold the largest share in the services segment in 2018 and are estimated to expand further due to the increasing geriatric population and cases of trauma-related surgeries. Rehabilitation services include physical therapy, occupational therapy, and speech therapy, among others.

3. North America holds 32% of the home healthcare market share, in 2018, based on the geographic region. This is due to the advanced medical facilities and high level of patient awareness. In North America, health expenditure is also higher which further contributes to the market here.

Competitive Landscape:

The top 5 players in the Home Health Care Market Industry are -

1. F. Hoffmann-La Roche AG
2. Sunrise Medica
3. Almost Family, Inc
4. National HealthCare Corporation
5. Acelity L.P., Inc.

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https://www.industryarc.com/Report/4339/Healthcare-Information-Systems-Market-Research-Report.html

B. Home Medical Equipment Market
https://www.industryarc.com/Report/15689/home-medical-equipment-market.html

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