Home Healthcare Market – CRI Report

Home Healthcare Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030

admin — Thu, 15 Jul 2021 07:40:48 +0000

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

The post Home Healthcare Market Outlook 2030: Industry Insights & Opportunity Evaluation, 2019-2030 first appeared on CRI Report.

Global Home Healthcare Market: Analysis and Forecast, 2020-2025

admin — Wed, 30 Jun 2021 08:46:03 +0000

Market Report Coverage – Home Healthcare

Market Segmentation

• Products (Monitoring Devices, Health Maintenance & Promotion Devices, Diagnostic Devices, IT & Software, and Services (SaaS))
• End User (Independent Homes/Villas, Condominium/Apartments, Elderly Care Homes, and Other Residents)

Country Segmentation

• U.S.
• China
• EU5
• Japan
• Nordic Countries
• Brazil
• India
• South Korea
• Rest-of-the-World

Growth Drivers

• Rise of Healthcare Consumerism
• Growth in Adoption of mHealth
• Advances in Wearable Technology
• Remote Monitoring Enabling Anything-as-a-Service
• Connected Devices Causing a Paradigm Shift in the Medtech Landscape
• Growth in the Number of Regional Startups

Market Challenges

• Lack of Insurance Coverage for Home Healthcare Services
• Patient Preferences and Prejudice Hampering Adoption Rate
• Lack of Well-Defined Regulations

Market Opportunities

• Product Expansion
• Home Healthcare Service
• Business Collaborations
• Regional Opportunities

Key Companies Profiled

Apple, Inc, Alphabet, Inc., Demant, Fitbit, Inc., Garmin Ltd, HK Smartmv Limited, Huami Corporation, Huawei Technologies Co., Ltd., Koninklijke Philips N.V., Omron Corporation, ResMed, Samsung Electronics Co., Ltd., Sonova Holding AG, Withings, Xiaomi Corporation, among others

Key Questions Answered in this Report:

• How has COVID-19 impacted the global home healthcare market?
• What are the key regulations for the development, commercialization, and adoption of home healthcare devices?
• Which are the leading players that currently hold significant dominance in the global home healthcare market?
• What are the key strategies incorporated by the players of the global home healthcare market to sustain the competition and retain their supremacy?
• What is the patent landscape of the home healthcare market?
• What are the key technological developments on which the current industry leaders are spending their major share of research and development (R&D) investment?
• What different business models have been adopted in the home healthcare market?
• What is the current market potential of different types of home healthcare services, and what are the factors deciding the growth potential of home healthcare services for the forecast period?
• What is the current revenue contribution of different products, and how would it evolve in the forecast period?
• How many products are in pipeline in different countries in the home healthcare market?
• How does the end-user perception impact the growth of the global home healthcare market?
• Which countries contribute to a major share of the current demand, and which countries hold significant scope for expansion for business activities by players of the global home healthcare market?
• What are the drivers, restraints, and opportunities in the global home healthcare market?

Key USPs of the Report

Following are some of the key contents of the report:

• Return on Investment Analysis
This section encompasses a description of the basic-level and advanced0level set-up-cost of home healthcare business.

• Home Healthcare Adoption Curve
This section includes information on adoption curve of home healthcare products in different countries.

• Business Model Analysis
This section comprises information on the key business models deployed in the market by leading players.

• Readiness Index
This section of the report encompasses the readiness index of home healthcare technology in different countries

In addition, the report provides:

• A detailed analysis and growth forecast (2021-2025) for different market segments
• Recent developments and trends in the global market landscape
• Factors promoting and inhibiting the market growth
• Case studies to assess the delivery models and strategies adopted by some of the highly funded players in the market

Expert Quote

“The market for home healthcare has grown significantly over the years. Furthermore, the development of connected medical devices and software has propelled the growth of the field. Moreover, the COVID-19 pandemic has played a key role in changing the perception of home healthcare, especially in emerging economies such as India”.

Scope of the Global Home Healthcare Market

The purpose of the study is to enable the reader to gain a holistic view of the global home healthcare market, by each of the segments mentioned above.

The report constitutes an in-depth analysis of the global home healthcare market, including a thorough analysis of the products. The study also provides market and business-related information on various end users and countries.

Key Companies in the Global Home Healthcare Market

Some of the key players contributing to the global home healthcare market include Apple, Inc, Alphabet, Inc., Demant, Fitbit, Inc., Garmin Ltd, HK Smartmv Limited, Huami Corporation, Huawei Technologies Co., Ltd., Koninklijke Philips N.V., Omron Corporation, ResMed, Samsung Electronics Co., Ltd., Sonova Holding AG, Withings, Xiaomi Corporation, among others.

The post Global Home Healthcare Market: Analysis and Forecast, 2020-2025 first appeared on CRI Report.