The global home healthcare market is anticipated to grow at a significant CAGR of 11.2% during the forecast period (2023-2030). The growing geriatric population and rising incidence of target diseases such as cancer, respiratory diseases, movement disorders, cardiovascular diseases & hypertension, diabetes, and others (wound care, pregnancy) are fueling the market demand. Home Healthcare services comprise occupational therapy, physical therapy, speech therapy, and skilled nursing. The innovation in digitalization helps the patients to concern their respective physicians for treatment in case of emergencies.
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For instance, in August 2021, Best Life Brands launcheda new home health offering ‘Boost Home Healthcare’Home Healthcare is the next step in the vision to have a comprehensive portfolio of brands that serve older adults in a more effective and holistic way. In-hospital care is usually much more expensive and it is not feasible to keep the patient in a hospital for a long period of time since it is not cost-effective. In-home care provides professional medical care of hospital standards to the patient in the comfort of their home. In October 2022, the Indian government launched new initiatives to promote home healthcare in India. The Healthcare Federation of India (NATHEALTH) developed a white paper, India Home Healthcare 2.0 Redefining the Modern Care Continuum, that attempts to provide forward views from all industry stakeholders and propose recommendations to the government to accelerate policy reforms for “homecare.”
Telemedicine, on the other hand, refers to treating patients by healthcare providers without meeting in person, via calls and messages. This is mainly directed at treating chronic illnesses where the diagnosis has already been made. For instance, in March 2023, Philips launched Philips virtual care management solutions and services portfolio, that has been designed to improve patient engagement and health outcomes through a more comprehensive telehealth approach.
- Competitive Landscape- includes Abbott Laboratories, F. Hoffmann-La Roche AG, Johnson & Johnson Services, Inc., and Baxter International Inc.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- Who is the leader in the market?
- How are players addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Home Healthcare Market Report Segment
By Component
- Equipment
- Services
By Product
- Therapeutic Products
- Testing
- Screening and Monitoring Products
- Mobility Care Products
By Service
- Skilled Nursing
- Rehabilitation Therapy
- Hospice & Palliative Care
- Unskilled Care
- Respiratory Therapy
- Infusion Therapy
- Pregnancy Care
By Indication
- Cancer
- Respiratory Diseases
- Movement Disorders
- Cardiovascular Diseases & Hypertension
- Diabetes
- Others (wound care, pregnancy)
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Company Profiles
- 3M Healthcare
- Acelity (3M)
- Amedisys, Inc.
- Arkray, Inc.
- Braun Melsungen AG
- Bayer HealthCare Inc.
- Becton, Dickinson and Company
- Cardinal Health Inc.
- Drive DeVilbiss Healthcare
- Fresenius Kabi AG.
- GE Healthcare
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