APAC Home Healthcare Market Analysis Report 2022 to 2030

APAC Home Healthcare Market Analysis

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APAC home healthcare market was valued at $76.15 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 9.2% from 2022-30 and will reach $153.98 Bn in 2030. One of the main reasons propelling the growth of this market is the introduction of newer technologies and the ageing population. The market is segmented by component and product. Some key players in this market are BestCare 24 (AUS), Portea Medical (IND), Healthcare at HOME (IND), Doctor Mate (JPN), Medtronic Japan (JPN), and many others.

ID: IN10APHS010 CATEGORY: Healthcare Services GEOGRAPHY: Asia - Pacific AUTHOR: Nandini Shah

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APAC Home Healthcare Market Executive Summary

The APAC home healthcare market was valued at $76.154 Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 9.2% from 2022-30 and will reach $153.98 Bn in 2030. Home healthcare encompasses a wide range of healthcare services for sickness management at home. Various product releases, collaborations, and innovations by industry participants are boosting the growth of the Asian home healthcare market. At the moment, market participants' attention has switched to Asia's developing economies. The concept of home healthcare is still in its early stages in nations such as India and China.

The expansion of home care settings in the developing region is heavily influenced by factors such as disease epidemiological landscape shifts, demographic trends transformation, preference for user-centred services, availability of new support technologies, and growing demand reconfiguration of health systems. In addition, health systems are embracing telehealth as a method for extending care at home in order to enhance results and save costs. This promotes the development of more portable and affordable home healthcare devices. Aside from that, increased collaboration among service providers is moving the market forward.

apac home healthcare market analysis

Market Dynamics

Market Growth Drivers

With the advent of modern technology in this industry, the existing communication flow between patients and healthcare professionals has substantially expanded, allowing for better, faster, and more effective care. For example, remote patient monitoring is based on the successful integration of medical devices and information and communication technology (ICT), as well as the delivery of healthcare over long distances, which drives the market growth. This is due to the increased convenience of non-skilled labor, carers, services, physicians, and other home healthcare equipment in homecare settings, as well as an increase in healthcare expenditures in the region's hospital grounds. The home healthcare industry has expanded dramatically over the previous decade. Rising healthcare costs, which have shifted the focus of healthcare away from hospitals and towards the home, have been a primary driver of the market's rise. Government attempts to expand home healthcare are accelerating the sector's growth. Technological advancements have made healthcare devices portable, user-friendly, and more convenient for patients at home or traveling. The introduction of innovative technology into this industry has significantly increased the present communication flow between patients and healthcare professionals, allowing for better, faster, and more effective care. Technological advancements, together with rising demand, are expected to drive market expansion in APAC. Several companies have delved into pharmaceutical distribution, adding to the patient-centric benefits of in-home care. Healthcare equipment is now portable, user-friendly, and more practical for patients who are at home or on the go as a result of technological advancements.

Market Restraints

In many countries in the APAC region, reimbursement for home healthcare services is limited, which can limit access to care and increase costs for patients. In some cases, reimbursement may not cover the full cost of care, which can be a barrier to accessing services. The development of the home healthcare market in the APAC region is limited by inadequate infrastructure, including a lack of reliable transportation and communication systems. This can make it difficult for patients to access care and for providers to deliver services effectively. There is often a lack of awareness about home healthcare services and the benefits they can provide, which can limit demand for these services. Many areas in APAC lack the infrastructure necessary to provide home healthcare services, such as adequate transportation and communication systems at the same time Many home healthcare providers do not have access to the latest technologies and innovations in home healthcare, which can limit the range of services they can provide.

Competitive Landscape

Key Players

BestCare 24 (AUS)
Portea Medical (IND)
Healthcare at HOME (IND)
Doctor mate (JPN)
Medtronic Japan (JPN)
Age1 Home Care (AUS)
A&D Company (JPN)
Toto (JPN)
AIS 24 Stundenbetreuung (AUS)
Help 24 (AUS)
Apollo Homecare (IND)
Nightingales Home Health Services (IND)
Mobile home nursing Aneter (AUS)

Notable Deals

In 2021, Baidu, China's largest search engine, invested in a home healthcare startup called Careplus. The investment will help Careplus expand its offerings, including telehealth services and home-based care
In 2020, Temasek, a sovereign wealth fund in Singapore, invested in Advantech, a provider of IoT solutions for the healthcare industry. Advantech is using the investment to develop new solutions for the home healthcare market, including telehealth services and wearable devices
In 2017, Cipla, an Indian pharmaceutical company, acquired HealthFore Technologies, a provider of telehealth services. The acquisition will help Cipla expand its presence in the home healthcare market and offer new and improved services to patients

Healthcare Policies and Regulatory Landscape

In Australia, the government provides funding for home healthcare services through the National Home Care Program, which is designed to help people receive care in their own homes instead of in hospitals or nursing homes. The program provides funding for a range of services, including nursing care, personal care, and home modifications. The Australian Government pays subsidies to approved home care providers. It pays the subsidies on behalf of each person eligible to receive a Home Care Package. If a person can afford to, they may be asked to pay fees by their provider The Government subsidy includes a basic subsidy amount and any supplements. Also, The Department of Health decides the basic subsidy and supplement rates on behalf of the Australian Government.

In India, the widely popular NABH (National Accreditation Board for Hospitals & Healthcare Providers) has also not framed any healthcare regulatory framework for the private home healthcare segment. The entire market of Home Healthcare is worth above Rs 12,000 crore and so far, not even one percent of the market has been captured by all the players combined.

The Singaporean government provides funding for home healthcare services through the Community Health Assist Scheme, which provides subsidies for a range of services, including nursing care, personal care, and home modifications. The government has also launched initiatives to encourage the use of telemedicine and other digital health services, which can help to improve access to care for people who live in areas with limited healthcare resources.

The Japanese government provides funding for home healthcare services through the Long-Term Care Insurance system, which covers a range of services, including nursing care, personal care, and rehabilitation. The government has also launched initiatives to encourage the development of telemedicine and other digital health services, with the goal of improving access to care for people who live in areas with limited healthcare resources.

1. Executive Summary
1.1 Service Overview
1.2 Global Scenario
1.3 Country Overview
1.4 Healthcare Scenario in Country
1.5 Healthcare Services Market in Country
1.6 Recent Developments in the Country

2. Market Size and Forecasting
2.1 Market Size (With Excel and Methodology)
2.2 Market Segmentation (Check all Segments in Segmentation Section)

3. Market Dynamics
3.1 Market Drivers
3.2 Market Restraints

4. Competitive Landscape
4.1 Major Market Share

4.2 Key Company Profile (Check all Companies in the Summary Section)

4.2.1 Company
4.2.1.1 Overview
4.2.1.2 Product Applications and Services
4.2.1.3 Recent Developments
4.2.1.4 Partnerships Ecosystem
4.2.1.5 Financials (Based on Availability)

5. Reimbursement Scenario
5.1 Reimbursement Regulation
5.2 Reimbursement Process for Services
5.3 Reimbursement Process for Treatment

6. Methodology and Scope

Home Healthcare Market Segmentation

By Device Type (Revenue, USD Billion):

Based on the Device Type the market is segmented into Testing, Screening, Monitoring Devices, Therapeutic Home Healthcare Devices, and Mobility Assist.

Testing, Screening, and Monitoring Device
Blood Glucose Monitors
Blood Glucose Monitors
Blood Pressure Monitors
Heart Rate Monitors
Temperature Monitors
Sleep Apnea Monitors
Coagulation Monitors
Ovulation and Pregnancy Test Kits
Pulse Oximeters
Home Hemoglobin A1C Test Kit

Therapeutic Home Healthcare Devices
Oxygen Delivery Systems
Nebulizers
Ventilators
Sleep Apnea Therapeutic Devices
Wound Care Products
IV Equipment
Dialysis Equipment
Insulin Delivery Devices
Inhalers
?Other Therapeutic Products (ostomy devices, automated external defibrillators (AEDs)

Mobility Assist
Walkers and Rollators
Wheelchairs
Canes
Crutches
Mobility Scooters

By Service Type (Revenue, USD Billion):

Skilled Nursing Services
Rehabilitation Therapy Services
Hospice and Palliative Care Services
Unskilled Care Services
Respiratory Therapy Services
Infusion Therapy Services
Pregnancy Care Services?

By Indication Type (Revenue, USD Billion):

Cardiovascular Disorders & Hypertension
Diabetes
Respiratory Diseases
Pregnancy
Mobility Disorders
Hearing Disorders
Cancer
Wound Care
Other Indications (sleep disorders, kidney disorders, neurovascular diseases, and HIV)

Methodology for Database Creation

Our database offers a comprehensive list of healthcare centers, meticulously curated to provide detailed information on a wide range of specialties and services. It includes top-tier hospitals, clinics, and diagnostic facilities across 30 countries and 24 specialties, ensuring users can find the healthcare services they need.

Additionally, we provide a comprehensive list of Key Opinion Leaders (KOLs) based on your requirements. Our curated list captures various crucial aspects of the KOLs, offering more than just general information. Whether you're looking to boost brand awareness, drive engagement, or launch a new product, our extensive list of KOLs ensures you have the right experts by your side. Covering 30 countries and 36 specialties, our database guarantees access to the best KOLs in the healthcare industry, supporting strategic decisions and enhancing your initiatives.

How Do We Get It?

Our database is created and maintained through a combination of secondary and primary research methodologies.

1. Secondary Research

With many years of experience in the healthcare field, we have our own rich proprietary data from various past projects. This historical data serves as the foundation for our database. Our continuous process of gathering data involves:

Analyzing historical proprietary data collected from multiple projects.
Regularly updating our existing data sets with new findings and trends.
Ensuring data consistency and accuracy through rigorous validation processes.

With extensive experience in the field, we have developed a proprietary GenAI-based technology that is uniquely tailored to our organization. This advanced technology enables us to scan a wide array of relevant information sources across the internet. Our data-gathering process includes:

Searching through academic conferences, published research, citations, and social media platforms
Collecting and compiling diverse data to build a comprehensive and detailed database
Continuously updating our database with new information to ensure its relevance and accuracy

2. Primary Research

To complement and validate our secondary data, we engage in primary research through local tie-ups and partnerships. This process involves:

Collaborating with local healthcare providers, hospitals, and clinics to gather real-time data.
Conducting surveys, interviews, and field studies to collect fresh data directly from the source.
Continuously refreshing our database to ensure that the information remains current and reliable.
Validating secondary data through cross-referencing with primary data to ensure accuracy and relevance.

Combining Secondary and Primary Research

By integrating both secondary and primary research methodologies, we ensure that our database is comprehensive, accurate, and up-to-date. The combined process involves:

Merging historical data from secondary research with real-time data from primary research.
Conducting thorough data validation and cleansing to remove inconsistencies and errors.
Organizing data into a structured format that is easily accessible and usable for various applications.
Continuously monitoring and updating the database to reflect the latest developments and trends in the healthcare field.

Through this meticulous process, we create a final database tailored to each region and domain within the healthcare industry. This approach ensures that our clients receive reliable and relevant data, empowering them to make informed decisions and drive innovation in their respective fields.