Bulgaria Home Healthcare Market Analysis Report [2022-30] I Insights10

Bulgaria Home Healthcare Market Analysis

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The Bulgaria home healthcare market was valued at $XX Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of XX% from 2022 to 2030 and will reach $XX Bn in 2030. One of the main reasons propelling the growth of this market is the introduction of newer technologies, and the aging population. The market is segmented by components and equipment. Some key players in this market are Evdesaglik Home health services, Bulgaria Red cross, Caritas Home care services, Bulgaria Home Care, Hocare, Integratedcare4people, and others.

ID: IN10BGHS010 CATEGORY: Healthcare Services GEOGRAPHY: Bulgaria AUTHOR: Nandini Shah

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Bulgaria Home Healthcare Market Executive Summary

The Bulgaria home healthcare market was valued at $XX Bn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of XX% from 2022 to 2030 and will reach $XX Bn in 2030. The current Bulgarian healthcare system has had trouble delivering the required continuity of care due to the country's aging population and an increase in chronic morbidities, comorbidities, and impairments. Unmet care demands among the aged population became more and more obvious as a result of a limited range of services, a healthcare system focused on hospitals and the exclusion of complementary social services.

Home care services comprise both social assistance supplied by home-helpers to support the patients in their daily lives and basic medical treatments carried out by nurses. Each patient who signs up for home care services has their requirements assessed. This guarantees that care plans are modified to meet a person's needs. This guarantees that care plans are modified to meet a person's needs. The Bulgarian Red Cross set high-quality standards for its in-home services based on the Swiss Association Spitex model and in close coordination with general practitioners and other medical professionals. Supporting patients' independence and capacity for self-care is a crucial component of what home care centers do.

Market Dynamics

Market Growth Drivers

The aging population in Bulgaria is increasing, leading to an increased demand for home healthcare services. Bulgaria has one of the greatest rates of depopulation in all of Europe, and just over 21% of its population is 65 years of age or older. Home healthcare is often seen as a more cost-effective solution compared to hospitalization or institutional care. The rising prevalence of chronic diseases such as diabetes and heart disease is increasing the demand for home healthcare services as they are better suited to manage and monitor these conditions on an ongoing basis. The Bulgarian government has implemented several initiatives to support the growth of the home healthcare industry, such as tax incentives for home healthcare providers and funding for medical equipment and supplies. Several companies have ventured into the delivery of medicines, further contributing to the patient-centric advantages of in-home care. Because of technological improvements, healthcare equipment is now portable, user-friendly, and more practical for patients who are at home or on the go. Awareness about the benefits of home healthcare is increasing among the Bulgarian population, leading to greater demand for these services.

Market Restraints

The lack of skilled nursing personnel with a compassionate attitude is anticipated to slow the rate of expansion of the Bulgaria home healthcare market. Home healthcare services in Bulgaria are often limited to basic care and may not have access to specialized care such as rehabilitation or palliative care. Only a small number of publicly funded health services are available to the early 15% of the population who lack insurance. Benefits from the NHIF are only available to people who contribute to their health insurance. As a result, many people with modest salaries are expected to pay contributions but are unable to do so because the government only pays contributions to those who live in extreme poverty. The infrastructure for home healthcare services, such as medical equipment and supplies, is often inadequate in some regions of Bulgaria.

Competitive Landscape

Key Players

Evdesaglik Home health services
Bulgaria Red cross
Caritas Home care services
Bulgaria Home Care
Hocare
Integratedcare4people

Healthcare Policies and Regulatory Landscape

The National Health Insurance Fund (NHIF) has enlarged the scope of health benefits it offers, thanks to reforms implemented in the last ten years that also sought to raise the amount of government cash allocated to the NHIF.

Lowering the cost of medications and boosting the money earmarked for health care, as Bulgaria's public health spending is still below average for the EU (4% of GDP in 2019 compared to an average of 6% in the EU) and is still low compared to most other EU nations.

The Home Care Program provides financial support to individuals in need of home healthcare services, including those with disabilities and the elderly.

Removing co-payment requirements for those with chronic diseases and lower-income households, and substituting a small charge per prescription, for instance, for percentage co-payments for outpatient medications.

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.