Report Shows How Global Home Healthcare Market is expected to reach USD 423,848.95 million by 2025, from USD 241,483.37 million in 2017 growing at a CAGR of 7.5% during the forecast period of 2018 to 2025.
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The global home healthcare market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of home healthcare market for global, Europe, North America, Asia Pacific and South America. Some of the prominent participants operating in this market are
- Apple Home healthcare
- Home Health Care, Inc
- Home Healthcare Solutions
- OMRON Corporation
- Kindred Healthcare, Inc
- Portea Medical
- Koninklijke Philips N.V.
- Air Liquide
- Kinnser Software, Inc.
- LHC Group, Inc.
- National HealthCare Corporation.
Others: Sunrise Medical (US) LLC, arcadia.io., B. Braun Melsungen AG, Amedisys, BPL Medical Technologies, DaVita Inc., Diaverum, Cardinal Health, Medtronic and among others.
As per Centers for Disease Control and Prevention, around 12,400 health agencies were there in 2014 that were providing the home healthcare services. In April 2018, LHC Group Inc., merged with the Almost Family, Inc. (U.S.) which delivered the growth potential in businesses and accelerates the growth with additional joint ventures and acquisitions. In January 2015, Air Liquide acquired optimal medical therapies. Through this acquisition Air Liquide, maintains its position in the German home healthcare market. In December 2014, Air Liquide announced the acquisition of a portion of ARAIR Group which added strength to home healthcare for patients suffering from chronic illnesses in France.
Key Developments in the Market:
- In August, Philips and Qualcomm entered into strategic collaboration. Through this agreement, the company offers healthy living and prevention to chronic care management and home care.
- In April, Air Liquide’s completed acquisition of EOVE. This acquisition helps Air Liquide to reinforce its expertise in home ventilation for chronic respiratory failure thanks to cutting-edge technological for home care. Apart from that this acquisition EOVE to accelerate its international development.
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Market Segmentation: Global Home Healthcare Market
The home healthcare market is segmented into component, services and software.
Based on component, the market is segmented into
- The home healthcare segment is further sub-segmented on the basis of product into testing, screening, & monitoring products, therapeutic products and home healthcare mobility care products. Home healthcare market is further sub segmented on the basis of into testing, screening, & monitoring products into blood glucose monitors, blood pressure monitors, cholesterol monitoring devices, pulse oximeters, home hemoglobin a1c test kits, hearing aids, sleep apnea monitors, temperature monitors, ECG/EKG devices, heart rate monitors, peak flow meters, ovulation and pregnancy test kits, coagulation monitors, HIV test kits, pedometers, EEG device and others.
Home healthcare market is further sub segmented on the basis of therapeutic products into
- Insulin delivery devices
- Dialysis equipment; wound care products
- Sleep apnea therapeutic devices
- Oxygen delivery systems and other
- Home healthcare mobility products is further sub segmented into canes, crutches, walkers & rollators, wheelchairs, mobility scooters.
Based on services, the market is sub-segmented into
- Unskilled care services,
- Rehabilitation therapy services,
- Short-term nursing services,
- Hospice and palliative care services,
- Infusion therapy services,
- Respiratory therapy services,
- Home health aide services,
- Pregnancy care services and others.
- Home healthcare services are further sub segmented on the basis of rehabilitation therapy services into physical therapy and occupational therapy and speech language pathology.
Based on software, the market is sub-segmented into
- Clinical management systems
- Agency software
- Hospice solutions
- Based on geography, the market report covers data points for 28 countries across multiple geographies namely North America & South America, Europe, Asia-Pacific and, Middle East & Africa.
- Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa and, Brazil among others.
Major Market Drivers and Restraints:
- Increasing cases of chronic diseases
- Technological advancement
- Increasing geriatric population
- Insurance coverage
- Emerging markets
- Increasing demand of telehealth
- Lack of skilled home care service providers
Customization of the Report
- The report includes the complete segmentation displayed above across all above mentioned countries
- All products covered in the market, product volume and average selling prices will be included as customizable options which may incur no or minimal additional cost (depends on customization)
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