Germany’s Home Healthcare market size stood at around USD XX.X billion in 2019 and is projected to reach USD xx billion by 2028, exhibiting a CAGR of 5.6% during the forecast period.
Being Europe’s largest medical devices and technology market, Germany is home to high-quality and innovative medical technologies. Though 95% of the medical device companies in Germany are small to mid-scale companies, the products having a tag of “Made in Germany” have achieved significant reputation across the globe for their innovations and quality.
According to AARP international, Germany is currently one of the five “super-aged” societies in the globe, and its population of people aged 65 and above is expected to continue to grow, reaching nearly one-third of the total population by 2050. This is expected to boost the demand for healthcare services at home during the forecast period.
Home healthcare is personalizing the care delivery in Germany for monitoring, diagnostics, and therapeutic purposes, which is a key factor for its rising adoption at a rapid pace.
Germany has always been a major market in terms of the adoption of advanced technologies in the healthcare system and reimbursement facilities. Numerous German manufacturing companies are engaged in inventing novel medical technologies for home use, which has improved the market for home healthcare devices in the country. Moreover, the rising pool of geriatric population in Germany is propelling the demand for efficient and quality health services in the country. These factors are estimated to boost the expansion of the home healthcare market in Germany during the forecast period.