Hong Kong Home Healthcare Market Analysis

Hong Kong Home Healthcare Market Analysis


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Hong Kong's home healthcare market was valued at $581 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 8.93% from 2022 to 2030 and will reach $1152 Mn 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 component and product. Some key players in this market are Hong Kong Red Cross, Caritas Hong Kong, St. James' Settlement, Life Clinic, and Evercare Health.

ID: IN10HKHS010 CATEGORY: Healthcare Services GEOGRAPHY: Hong Kong AUTHOR: Nandini Shah

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Hong Kong Home Healthcare Market Executive Summary

Hong Kong's home healthcare market was valued at $581 Mn in 2022 and is estimated to expand at a compound annual growth rate (CAGR) of 8.93% from 2022 to 2030 and will reach $1152 Mn in 2030. According to the International Monetary Fund, the financial strain of an aging population would also have an impact on Hong Kong's overall economy, causing a 21% decline in GDP and a 10% decline in real GDP per capita by 2050 if the current condition persists (IMF).

Home healthcare is becoming increasingly important in Hong Kong, due to the aging population and increased demand for healthcare services. Home healthcare in Hong Kong refers to healthcare services provided to individuals in their homes rather than in a hospital or other healthcare facility. Services provided may include nursing care, physical therapy, occupational therapy, and speech therapy, as well as assistance with activities of daily living. Home healthcare can be provided by government-funded or private providers. It can also be provided to patients who have been discharged from a hospital but still require ongoing care.

hong kong home healthcare market analysis

Market Dynamics

Market Growth Drivers

Because of technological improvements, healthcare equipment is now portable, user-friendly, and more practical for patients who are at home or on the go. The adoption of emerging technologies in this sector has significantly increased the present patient-provider communication flow, enabling better, quicker, and more efficient care. Technology advancements and rising demand are projected to fuel market expansion in Hong Kong. A number of businesses have dabbled in drug delivery, adding to the patient-centric benefits of in-home care. Technology advancements have made healthcare equipment more mobile, user-friendly, and useful for patients who are at home or on the go. The introduction of new technology in this field has greatly improved the current flow of communication between patients and providers, enabling better, faster, and more effective care. The need for home healthcare services is expanding as chronic diseases like diabetes and heart disease are becoming more common. These services are better equipped to manage and monitor these ailments over time.

Market Restraints

The rate of growth of the Hong Kong home healthcare sector is expected to be slowed down by a lack of caring, skilled nursing staff. In Hong Kong, home healthcare services are frequently only available for basic care and may not provide access to specialized treatment, such as palliative or rehabilitation care. Many regions in Hong Kong lack the infrastructure required to offer home healthcare services, such as enough transportation and simultaneous communication systems. Many home healthcare providers lack access to the most recent medical technology and advancements, which might restrict the breadth of services they can offer.

Competitive Landscape

Key Players

  • Hong Kong Red Cross
  • Caritas Hong Kong
  • St. James' Settlement
  • Lifeclinic
  • Evercare Health
  • Okay Health
  • Cathynursing
  • Sucare Home healthcare
  • Hong Kong nursing home

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.

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Last updated on: 05 October 2023
Updated by: Dr. Purav Gandhi

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