Rising incidence of chronic diseases and increasing technological advancement in-home healthcare products are key factors driving revenue growth

VANCOUVER, BC, CANADA, June 14, 2023/EINPresswire.com/ -- The global home healthcare market size was USD 198.78 Billion in 2021 and is expected to register a revenue CAGR of 8.3%, during the forecast period, according to the latest analysis by Emergen Research. Home healthcare market revenue growth is primarily driven by factors such as rising incidence of chronic diseases such as diabetes, cardiovascular disease, and hypertension and increasing technological advancements in-home healthcare products.

Moreover, rising demand for telehealthcare services and virtual consultancy services for advice from healthcare experts without visiting clinics physically are some other factors driving revenue growth of the market.

Home healthcare refers to a range of medical and non-medical services provided to individuals in the comfort of their own homes. It offers personalized and convenient care to those who may have difficulty accessing traditional healthcare facilities or prefer to receive treatment at home. Home healthcare professionals, such as nurses, therapists, and caregivers, deliver a wide array of services, including administering medications, wound care, physical therapy, and assistance with activities of daily living. This approach promotes independence, improves the quality of life, and reduces the need for hospitalization. By bringing medical expertise and support directly to people's homes, home healthcare plays a vital role in meeting the unique needs of patients and enabling them to receive comprehensive care in a familiar and nurturing environment.

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The report, additionally, offers a comprehensive SWOT analysis and Porter’s Five Forces analysis to offer a better understanding of the competitive landscape of the industry. It also covers strategies adopted by prominent players such as mergers and acquisitions, collaborations, joint ventures, product launches, and brand promotions, among others. The report aims to offer the readers a holistic understanding of the relevant features of the industry.

 The report covers the following companies-

McKesson Medical-Surgical, Inc., Fresenius Medical Care AG, and Co., Medline Industries, Inc., AccentCare Inc., Kindred Healthcare, LLC. (LifePoint Health, Inc.), Amedisys Inc., LHC Group Inc., The 3M Company, Arkray, Inc., and Baxter International Inc.

Some Key Highlights in the Report

The respiratory equipment segment revenue is expected to register a substantially rapid revenue CAGR during the forecast period. This is due to increasing prevalence of respiratory diseases globally that can be attributed to growth in air pollution and surge in consumption of cigarettes. In addition, a rise in cost of conventional healthcare services has led to growing popularity of home healthcare services.

The hospice & palliative care services segment is expected to register a robust revenue growth rate over the forecast period due to rise in aging population and incidences of life-threatening diseases among aging population.

The North America market is expected to account for largest revenue share over the forecast period. Increasing number of long-term diseases including Parkinson's disease and dementia as well as neurological conditions, such as hypertension, diabetes, and cardiovascular disease, is expected to contribute to revenue growth of the market. In addition, there is a robust presence of major market players, such as Amedisys Inc., Kindred Healthcare, LLC., Medline Industries, Inc., and AccentCare, Inc., in countries in this region.

In addition to encouraging profitable returns, this particular research offering is poised to build on the historical growth outcomes of report readers, future growth prognostics, as well as a sufficient understanding of growth starters. This highly competitive study provides extensive information on market growth prognosis and trajectory, as well as a detailed overview of the competitive spectrum and an in-depth understanding of dynamic segmentation.

Emergen Research has segmented the global home healthcare market based on product, services, ailments, and region:

Product Outlook (Revenue, USD Billion, 2019–2030)

Diagnostic Devices

Vital Sign Monitoring Devices

Weight Monitoring Devices

Glucose Monitoring Devices

Health Maintenance Device

Geriatric Assistance Devices

Nutrition Management Devices

Air Quality Devices

Locomotive Assistance Devices

Automated Wheelchair

Walking Assist Devices

Home pregnancy & Fertility Kits

Drug Delivery Devices

Pumps

Syringes

Dialysis Products

Continuous

Automated

Respiratory Equipment

Ventilators

Nebulizers

Oxygen Therapy Equipment

Service Outlook (Revenue, USD Billion, 2019–2030)

Rehabilitation Services

Infusion Therapy Services

Unskilled Care Services

Respiratory Therapy Services

Pregnancy Care Services

Skilled Nursing Services

Hospice & Palliative Care Services

Ailments Outlook (Revenue, USD Billion, 2019–2030)

Chronic Obstructive Pulmonary Disorder

Diabetes

Hypertension

Asthma

Depression

Cardiovascular Diseases

Dementia

Parkinson’s Disease

Bone & Joint Diseases

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Key point summary of the report:

The report offers a comprehensive overview of the market size, share, and growth rate in the forecast duration.

It provides details about current scenario, historical data, giving an accurate market forecast for the coming years.

The study categorizes the market on the basis of product types, applications, end users, market value and volume, business verticals, and 5 major regions.

It also offers regional market analysis and forecast for prominent geographies in the sector viz., North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.

Industry supply chain, sourcing strategy, upstream feedstock, and downstream demand analysis has also been undertaken in the research report.

The study offers a comprehensive understanding of the demand and supply dynamics, including production and consumption rates, and mapping of the overall market.

The report employs different analytical tools including, SWOT analysis, Porter’s five forces analysis, and pricing analysis, to give precise market information.

Regional Outlook of Home Healthcare Market:

North America

U.S.

Canada

Mexico

Europe

Germany

U.K.

Italy

France

BENELUX

Rest of Europe

Asia Pacific

China

India

Japan

South Korea

Rest of APAC

Latin America

Brazil

Rest of LATAM

Middle East & Africa

Saudi Arabia

U.A.E.

South Africa

Rest of MEA

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About Us:

Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyse consumer behavior shifts across demographics, across industries, and help clients make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors.

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Emergen Research
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