Home Healthcare Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030
Home Healthcare Market by Product (Dialysis Equipment, Ventilators, ECG, Canes, Wheelchairs, Activity Monitors, Nebulizers, BP Monitors), Service (Infusion Therapy, Skilled Nursing, Hospice), Indication, Region - Global Forecast to 2025
Product Overview
Monitoring and diagnostic devices are available in almost every home, from basic health care equipment such as thermometers and weight scales to specialized devices such as blood pressure monitors, glucometers, INR meters, pulse oximeters, peak flowmeters, EEGs, or portable EKG/pulse meters. Most of these monitoring and diagnostic devices are available at pharmacies and usually can be bought over the counter or even via the Internet.
Market Overview
Global home healthcare market size is projected to reach USD 297.5 billion by 2030 from USD 171.9 billion in 2020, at a CAGR of 7.6% 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.
COVID-19 impact on the home healthcare market
The COVID-19 pandemic has a mixed impact on the home healthcare market. As the home healthcare market consists of products and services, both have different effects. COVID-19 would positively impact few home healthcare monitoring products such as blood glucose monitors, blood pressure monitors, pulse oximeters, and temperature monitors.
Global Home Healthcare Market Dynamics
DRIVER: Rising aging population, high incidence of chronic diseases, and need to expand home healthcare access
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 favorable 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: Patient safety concerns
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.
OPPORTUNITY: Untapped developing regions
Home healthcare is an established trend in the developed regions of North America and Europe. Due to favorable 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.
CHALLENGE: Shortage of home care workers
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.
The skilled nursing care services segment dominated the home healthcare services market in 2019.
Based on services, the global home healthcare market is segmented into rehabilitation services, infusion therapy services, unskilled care services, respiratory therapy services, pregnancy care services, skilled nursing services, and hospice and palliative care services. Skilled nursing services accounted for the largest share of the home healthcare services market in 2019. Skilled medical care in home settings can provide a comforting solution over residing in a hospital, nursing home, or an assisted living community. The favorable insurance coverage for skilled nursing services is expected to support the growth of this market during the forecast period.
North America was the largest regional market for home healthcare in 2019.
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.
Key Market Players
The prominent players operating in this market include Fresenius SE & Co. KGaA (Germany), GE Healthcare (US), Linde plc (Ireland), F. Hoffmann-La Roche Ltd (Switzerland), Amedisys (US), Kindred at Home (US), and LHC Group, Inc. (US)
By Product
• Testing, Screening, & Monitoring Products
o Blood Glucose Monitors
o Blood Pressure Monitors
o Pulse Oximeters
o Peak Flow Meters
o Heart Rate Monitors
o Fetal Monitoring Devices
o HIV Test Kits
o Home Sleep Testing Devices
o Coagulation Monitoring Products
o Ovulation and Pregnancy Test Kits
o Holter and Event Monitors
o Cholesterol Monitoring Devices
o Colon Cancer Test Kits
o Home Hemoglobin A1c Test Kits
o Drug and Alcohol Test Kits
o ECG/EKG Devices
o EEG Devices
o Temperature Monitors
o Hearing Aids
o Activity Monitors & Wristbands
• Therapeutic Products
o Oxygen Delivery Systems
o Nebulizers
o Ventilators
o Sleep Apnea Therapeutic Devices
o Wound Care Products
o IV Equipment
o Dialysis Equipment
o Insulin Delivery Devices
o Inhalers
o Other Therapeutic Products (ostomy devices, automated external defibrillators (AEDs))
• Mobility Care Products
o Wheelchairs
o Walkers & Rollators
o Mobility Scooters
o Canes
o Crutches
By Service
• 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
• Cardiovascular Disorders & Hypertension
• Diabetes
• Respiratory Diseases
• Pregnancy
• Mobility Disorders
• Hearing Disorders
• Cancer
• Wound Care
• Other Indications
Contents
1. Executive Summary
2. Global Home Healthcare Market
2.1. Product Overview
2.2. Market Definition
2.3. Segmentation
2.4. Assumptions and Acronyms
3. Research Methodology
3.1. Research Objectives
3.2. Primary Research
3.3. Secondary Research
3.4. Forecast Model
3.5. Market Size Estimation
4. Average Pricing Analysis
5. Macro-Economic Indicators
6. Market Dynamics
6.1. Growth Drivers
6.2. Restraints
6.3. Opportunity
6.4. Trends
7. Correlation & Regression Analysis
7.1. Correlation Matrix
7.2. Regression Matrix
8. Recent Development, Policies & Regulatory Landscape
9. Risk Analysis
9.1. Demand Risk Analysis
9.2. Supply Risk Analysis
10. Global Home Healthcare Market Analysis
10.1. Porters Five Forces
10.1.1. Threat of New Entrants
10.1.2. Bargaining Power of Suppliers
10.1.3. Threat of Substitutes
10.1.4. Rivalry
10.2. PEST Analysis
10.2.1. Political
10.2.2. Economic
10.2.3. Social
10.2.4. Technological
11. Global Home Healthcare Market
11.1. Market Size & forecast, 2020A-2030F
11.1.1. By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
11.1.2. By Volume (Million Units) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12. Global Home Healthcare Market: Market Segmentation
12.1. By Regions
12.1.1. North America:(U.S. and Canada), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.2. Latin America: (Brazil, Mexico, Argentina, Rest of Latin America), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.3. Europe: (Germany, UK, France, Italy, Spain, BENELUX, NORDIC, Hungary, Poland, Turkey, Russia, Rest of Europe), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.4. Asia-Pacific: (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia Pacific), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.1.5. Middle East and Africa: (Israel, GCC, North Africa, South Africa, Rest of Middle East and Africa), By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2. By Product: Market Share (2020-2030F)
12.2.1. Testing, Screening, & Monitoring Products, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.2. Therapeutic Products, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.2.3. Mobility Care Products, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3. By Service: Market Share (2020-2030F)
12.3.1. Skilled Nursing Services, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.2. Rehabilitation Therapy Services, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.3. Hospice and Palliative Care Services, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.4. Unskilled Care Services, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.5. Respiratory Therapy Services, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.6. Infusion Therapy Services, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.3.7. Pregnancy Care Services, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4. By Indication: Market Share (2020-2030F)
12.4.1. Cardiovascular Disorders & Hypertension, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.2. Diabetes, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.3. Respiratory Diseases, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.4. Pregnancy, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.5. Mobility Disorders, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.6. Hearing Disorders, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.7. Cancer, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.8. Wound Care, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
12.4.9. Other Indications, By Value (USD Million) 2020-2030F; Y-o-Y Growth (%) 2021-2030F
13 Company Profile
13.1. Fresenius SE & Co. KGaA (Germany)
13.1.1. Company Overview
13.1.2. Company Total Revenue (Financials)
13.1.3. Market Potential
13.1.4. Global Presence
13.1.5. Key Performance Indicators
13.1.6. SWOT Analysis
13.1.7. Product Launch
13.2. GE Healthcare (US)
13.3. Linde plc (Ireland)
13.4. F. Hoffmann-La Roche Ltd (Switzerland)
13.5. A&D Company (Japan)
13.6. BAYADA Home Health Care (US)
13.7. Invacare Corporation (US)
13.8. Abbott (US)
13.9. Amedisys (US)
13.10. Kindred at Home (US)
13.11. LHC Group, Inc. (US)
13.12. OMRON Corporation (Japan)
13.13. Koninklijke Philips N.V. (Netherlands)
13.14. Drive DeVilbiss Healthcare (US)
13.15. Hamilton Medical (Switzerland)
13.16. Other Prominent Players
14 Consultant Recommendation
**The above given segmentations and companies could be subjected to further modification based on in-depth feasibility studies conducted for the final deliverable.
Methodology/Research Approach
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.Research Programs/Design
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Market Size Estimation
Top-down and bottom-up approaches are used to validate the global Voluntary Carbon Offset market size market and estimate the market size for Company, regions segments, product segments and Application (end users).
The market estimations in this report are based on the marketed sale price of Voluntary Carbon Offset (excluding any discounts provided by the player, distributor, wholesaler or traders). The percentage splits, market share, and breakdowns of the product segments are derived on the basis of weights assigned to each of the segments on the basis of their utilization rate and average sale price. The regional splits of the overall Voluntary Carbon Offset market and its sub-segments are based on the percentage adoption or utilization of the given product in the respective region or country.
Major Company in the market is identified through secondary research and their market revenues determined through primary and secondary research. Secondary research included the research of the annual and financial reports of the top Company; whereas, primary research included extensive interviews of key opinion leaders and industry experts such as experienced front-line staff, directors, CEOs and marketing executives. The percentage splits, market share, Growth Rate and breakdowns of the product markets are determined through using secondary sources and verified through the primary sources.
All possible factors that influence the markets included in this research study have been accounted for, viewed in extensive detail, verified through primary research, and analyzed to get the final quantitative and qualitative data. The market size for top-level markets and sub-segments is normalized, and the effect of inflation, economic downturns, and regulatory & policy changes or other factors are not accounted for in the market forecast. This data is combined and added with detailed inputs and analysis from Market Intellix and presented in this report
The following figure shows an illustrative representation of the overall market size estimation process used for this study.
Market Breakdown and Data Triangulation
After complete market engineering with calculations for market statistics; market size estimations; market forecasting; market breakdown; and data triangulation, extensive primary research was conducted to gather information and verify and validate the critical numbers arrived at. In the complete market engineering process, both top-down and bottom-up approaches were extensively used, along with several data triangulation methods, to perform market estimation and market forecasting for the overall market segments and sub-segments listed in this report. Extensive qualitative and further quantitative analysis is also done from all the numbers arrived at in the complete market engineering process to list key information throughout the report.
Data Source
Secondary Sources
Secondary sources include such as press releases, annual reports, non-profit organizations, industry associations, governmental agencies and customs data, etc. This research study involves the usage of widespread secondary sources, directories, databases such as Bloomberg Business, Wind Info, Hoovers, Factiva (Dow Jones & Company), and TRADING ECONOMICS, and News Network, statista, Federal Reserve Economic Data, annual reports, BIS Statistics, ICIS; company house documents; CAS(American Chemical Society); investor presentations; and SEC filings of companies. Secondary research was used to identify and collect information useful for the extensive, technical, market-oriented, and Hospitals study of the Voluntary Carbon Offset market. It was also used to obtain important information about the top companies, market classification and segmentation according to industry trends to the bottom-most level, and key developments related to market and technology perspectives.
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Primary Sources
In the primary research process, various sources from both the supply and demand sides were interviewed to obtain qualitative and quantitative information for this report. The primary sources from the supply side include product Company (and their competitors), opinion leaders, industry experts, research institutions, distributors, dealer and traders, as well as the raw materials suppliers and producers, etc.
The primary sources from the demand side include industry experts such as business leaders, marketing and sales directors, technology and innovation directors, supply chain executive, end use (product buyers), and related key executives from various key companies and organizations operating in the global market.
Primary research was conducted to identify segmentation Type, product price range, product Application, key Company, raw materials supply and the downstream demand, industry status and outlook, and key market dynamics such as risks, influence factors, opportunities, market barriers, industry trends, and key player strategies.
Key Executives Interviewed
Key Data Information from Primary Sources
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