The Australian Home Healthcare market size was valued at USD xx billion in 2019 and is expected to expand at a compound annual growth rate (CAGR) of xx% from 2019 to 2028.
Rapid growth in the elderly population and the rising incidence of chronic diseases, growing need for cost-effective healthcare delivery due to the increasing healthcare costs, and technological advancements of home care devices. In 2017, there were 3.8 million Australians aged 65 and over (comprising 15% of the total population). The number and proportion of older Australians are expected to continue to grow. The aging population demands more patient-centric healthcare services, which in return increases the demand for healthcare workers and agencies and is anticipated to drive market growth.
The growth of the aging population segment will boost the demand for healthcare and significantly increase the burden on governments and health systems as the aging population is more prone to chronic diseases. This will prove favorable to the market for home healthcare, which can enhance the overall reach of and access to healthcare while reducing unnecessary visits, hospital admissions & readmissions, and the time and costs involved in traveling to meet healthcare professionals.