Global Home Healthcare Market Analysis

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  • Type: Service area
  • Published : September 2022
  • Region: Worldwide
  • Country: Other
  • Report ID : 184

  • Format: PPT, PDF

Global Home Health Care Market: Segmented by Product Type (Testing, Screening & Monitoring Products, Therapeutic, Mobility Care Products), Service Type (Rehabilitation Therapy, Infusion, Unskilled, Respiratory), Software Type (Agency, Clinical Management systems, Hospice) and Geography (North America, Europe, Asia-Pacific, Middle-East and Africa, and South America) – Growth, Trends, and Forecasts (2021 – 2030)

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Report Description of the Global Home Healthcare Market

Research Scope and Assumption

  • The report provides the market value for the base year 2021 and a yearly forecast up to 2030 in terms of revenue (USD billion)
  • The key industry dynamics, regulatory scenario, reimbursement scenario, major market trends, and drug markets are evaluated to understand their impacts on the demand for the forecast period. The growth rates were estimated using correlation, regression, and time-series analysis
  • We have used the combination of top-down and bottom-up approaches for market sizing, analysing key regional markets, dynamics, and trends for various solutions, services, and end uses
  • All market estimates and forecasts have been validated through primary interviews with the Key Industry Players (KIPs) and secondary analysis
  • Inflation has not been accounted for in order to estimate and forecast the market
  • Numbers may not add up due to rounding off

Global Home Healthcare Report Scope

Report Overview

The global home healthcare market size is projected to reach USD XX billion by 2021 from USD 181.9 billion in 2030, at a CAGR of 8.6% during the forecast period.

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. According to the World Health Organization (WHO), there were 703 million persons aged 65 years or over in the world in 2019. The number of older persons is projected to double to 1.5 billion by 2050. 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.

Global Home Healthcare Market Size (In USD Bn)

(2021-2030F)

Market Drivers, Restraints, Opportunity, Challenges

Driver – 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 favourable 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.

Restraint – In home care, the nurse-physician association involves lesser face-to-face contact, and the nurse is responsible for making assessments and communicating findings. This factor affects the degree of patient safety and outcomes. Another distinguishing characteristic of home healthcare is that clinicians offer medical care to each patient in a unique setting. However, there may be situational variables that present risks to patients that may be difficult to remove. Hospitals have well-equipped environmental safety departments to take care of such instances.

Opportunity- Home healthcare is an established trend in the developed regions of North America and Europe. Due to favourable regulations and policies in these regions, homecare is rapidly being adopted. As the market in developed countries is nearly saturated, market players have shifted their focus toward the developing regions, especially the emerging economies of Asia Pacific. As the concept of home healthcare in countries such as India and China are still in the early growth phase, market players can capitalize on a wide range of opportunities in these markets. For instance, in April 2017, Quadria Capital (Singapore) invested USD 40 million (INR 250 crore) in the Dabur family-owned HealthCare at Home (HCAH).

Challenge – Home healthcare is a booming market, with increasing demand for home care providers/workers. According to the employment projections of the US Bureau of Labor Statistics, during 2014-2024, home healthcare occupations such as personal care aides and home health aides ranked among the top 10 in the list. Also, the demand for home health aides and personal care aides is estimated to be 2.9 million between 2016-2026. Hence, home healthcare providers need to find approximately 2.9 million heads to keep with the rising demand (Source: US Bureau of Labor Statistics).

1. Global Home Healthcare Market Overview………………………………………………
A. Market Size
2. Market Growth Drivers………………………………………………………………….
A. Rising aging population, high incidence of chronic diseases, and need to expand healthcare access
B. Technological advancements
C. Increasing healthcare costs and the growing need for affordable treatment options
3. Emerging Trends in Home Healthcare Services……………………………………….
4. Home Healthcare Market Segmentation……………………………………………….
A. Product Type
B. Software Type
C. Geography
I. North America Market Analysis
II. Europe Market Analysis
III. Asia-Pacific Market Analysis
IV. Middle-East and Africa Market Analysis
V. South America Market Analysis
5. Home Healthcare Products Market Share…………………………………………
A. Market Analysis, Insights and Forecast – By Service Type
6. Competitive Landscape……………………………………………………………….
A. Major Players
B. Products in Pipeline
7. Key Company Profiles………………………………………………………………….
A. General Electric Company overview, Product & Services, Strategies & Financials
B. Philips Healthcare Company overview, Product & Services, Strategies & Financials
C. Roche Holding, Product & Services, Strategies & Financials
8. Healthcare Policies and Regulatory Landscape…………………………………
A. Policy changes and Reimbursement scenario
9. Factors Driving Future Growth………………………………………………………
A. New Trends and Development of Home Healthcare market
B. Future Opportunities
10. Conclusion

Market Segmentation

By Product:

Based on equipment, the market is segmented into therapeutic, diagnostic, and mobility assist. Therapeutic segment held the largest revenue share of over 40% in 2019. Home respiratory therapy equipment dominated the therapeutic segment owing to increasing demand for treatment and assessment of cardiopulmonary disorders such as bronchitis, asthma, COPD, and others. It includes equipment such as C-PAP, Bi-PAP, ventilators, and nebulizers. Koninklijke Philips, IndiaMART, Intermesh Ltd., and Healthgenie.in are some of the key distributors in the country.

Diagnostics accounted for around 35% revenue share in 2019 and is expected to register the fastest CAGR over the forecast period. Technologically advanced products that enable accurate and timely diagnosis such as strapless heart rate monitor, iPhone heart-rate monitor, and TQR heart rate watches are likely to propel the segment growth. Further, increasing patient awareness and health consciousness is also likely to boost growth.

By Region:

The home healthcare market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2019, North America was the largest regional segment of the overall market, followed by Europe. The large share of North America in the global market is attributed to the rising prevalence of chronic conditions, high healthcare expenditure, high disposable income, the increasing overall geriatric population, high disposable income, and superior healthcare infrastructure.

Top Major Players

The major players in Home Healthcare Market are Koninklijke Philips N.V., Air Liquide, Amedisys, Apple Home Healthcare, Arcadia, Davita Inc, Diaverum, Home Health Care, Inc, Home Healthcare Solutions Company, LLC, Kindred Healthcare, LLC, LHC Group, Inc., National HealthCare Corporation and PORTEA MEDICAL, OMRON Corporation, Air Liquide, B. Braun Melsungen AG, BPL Medical Technologies, CARDINAL HEALTH and Sunrise Medical (US) LLC among other players domestic and global.

Research Methodology

Insights10 will provide you reports within 10 key parameters which are:

  1. Market overview
  2. Market growth drivers & restraints
  3. Epidemiology or disease type
  4. Market segmentation
  5. Market share
  6. Competitive landscape
  7. Key company profiles
  8. Healthcare policies & regulatory framework
  9. Reimbursement scenario
  10. Factors driving future growth

Based on our many years of experience, we believe that these are the parameters that are critical to decision making for business stakeholders. Our focused approach to develop reports focused on 10 key parameters, enabled us to arrive at the name “Insights10”.

Our analysis methodology involves three critical stages:

Stage I: Market Data Collection

Primary Interviews: We have developed a network of experts, freelancers and researchers across countries through which we engage with local experts to gather key data points and assumptions around each market. We also engage regularly with some of the best market research agencies such as Atheneum, GuidePoint, GLG, etc. to conduct surveys and interviews, and build intelligence. We have language translators as a part of our team, who between them can cover 30+ languages allowing us to extract better local insights.

Secondary Data Collection: We have developed strong expertise and experience in secondary data collection methods for developing unique data sets and research material. We gather data from multiple reliable sources to maintain the high level of accuracy and consistency. The market data is analysed and forecasted using appropriate statistical and coherent models. The report offers an overall analysis of the market size, growth, market share as well as segment-level analysis of the specific market. Our report includes precise, to the point information related to the overall market, competition, growth drivers, challenges, regulatory updates, and competition.

Data Sources: We have access to multiple highly reliable free and subscription data sources. We have many years of experience to understand which sources are more dependable for what and which to prefer for the reliable and latest information. The key sources of information include the following, but are not limited to:

  • Statistical Databases
  • Company Websites/Annual Reports
  • Trade Publications
  • Online Databases
  • Published Research Reports
  • Whitepapers
  • Press Releases of Key Market Players

Stage II: Market Data Analysis and Statistical Model

Market Trends: We generally look at macro parameter and micro indicators. The macro parameters includes changes in government policies, demand and supply of the market, government intervention programs and major market share. The micro indicators GDP growth, market size, market volume etc. We also understand nuances specific to each country like US, Canada, India, Germany, etc. and have worked across 60+ countries and hence no only understand global trends, but how these differ by country, how payment models, market structure, cultural parameters, etc. differ in each country.

Market Sizing and Analysis: Our expert data analytics team has created various market forecast models by employing the top-down approach i.e. start with large overall market and segment different areas and bottom-up approach i.e. start with population and epidemiology and roll up based on spend, etc., estimating the size of the market, and distributing among the geographic and/or product segments.

The top-down approach mainly used for new product forecasting and bottom-up approach is used for demand estimation of any product for different countries summed up to form total market. We are able to round off insights and build stronger forecasts because we always do both these methods and triangulate the final numbers.

The study on the market covers the analysis of the leading geographies such as North America, Europe, Asia-Pacific, and Africa for the period of 2020 to 2028. The qualitative analysis covers the industry landscape and trends, market opportunities, competitive landscape and policy and regulatory scenario and the quantitative analysis covers different market estimates and forecasts.

Data Triangulation & Validation:

Data triangulation of various sources and results of the research are carried out by benchmarking with reliable sources such as industry statistics, statistical databases and the company level averages etc.

We make sure to finalize the numbers in alignment to the market research. Firstly, our internal experts ensure thorough validation and checking to ensure the accurate and precise analysis and then validation is also done using multiple data analysis model.  Two level validation is done and entails finalization of report scope and to way of representation pattern.

Stage III: Interpretation and Presentation

Analysis & Interpretation: The information gathered is then analysed and synthesized. A second series of interviews are done if necessary to check and validate. The future opportunities are analysed by understanding product commercialization and many other factors. It also comprises the analysis of data discrepancies observed across various data sources. Information procured from secondary and primary results are then, interpreted by considering following parameters: (a partial list)

  • Establishing market drivers and trends
  • Analyzing regulatory landscape to understand future growth
  • Market Segment based analysis to obtain revenue / volume
  • Analyzing current needs and determining penetration to estimate market

Insights: Our reports deliver actionable insights backed with supporting facts and figures to assist you in achieving exemplary growth. Our in-depth analyses are interspersed with relevant insights and statistics to offer an executive-level view of a given market. The description helps in correlating many minor factors affecting the market and its impact to the different segments within the market.
Data curated from the analysis and interpretation are drawn to portray all in one consolidated report.

Presentation & Reporting: The market research report is presented in different forms such as charts by using a scientific approach for easy understanding. Historic, current and future analysis is provided for each market in terms of both value and volume. The size of the market is interpreted in the US Dollar value and the respective unit, based on the product, for volume consumptions.
The foreign exchange rates are calculated on the respective dates and for the respective regions covered in the study.

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