The Home Healthcare Market is expected to be worth US$ 3.2 billion in 2023 and US$ 4.4 billion by 2033. The market is expected to grow at a CAGR of 3.1% during the forecast period. Market size is influenced by the following factors:
The home health care market is expected to generate more than $4 billion in global market revenues by the end of 2030. The global home healthcare industry is expected to grow in the future for a variety of reasons. These include chronic illnesses, an increase in the geriatric population who find it difficult to visit hospitals and other diagnostic facilities on a regular basis, the government’s efforts to promote home healthcare, rising healthcare costs, and an expanding demand for treatments at reasonable prices.
However, factors like stern reimbursement policies, the safety issues of patients, as well as the low insurance coverage are acting as hurdles for the growth of home healthcare market. The players operating in the global home healthcare market are predicted to get new income sources because of the drifting trend towards telehealth and wide unfulfilled demand from the emerging economies but only if they can meet the needs of skilled home care employees.
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It is predicted that the global home healthcare market will have a significant success in the time to come. With the help of home health care, the patients receive a lot of treatments right from their homes and the home healthcare market is seen to be growing in popularity in cases where the patient does not need any major treatments, and it is also cheaper in comparison to the treatments in hospitals.
Global Home Health Care Market: Trends and Opportunities :
In today’s generation where most of the services can be availed from any place, it is only the healthcare services that still require to be held in a particular and professionally controlled environment. But with the change in the attitude of consumers now require quality services right from their houses is making it necessary to decentralize health care services and provide the patients with what they prefer.
The factors that are boosting the global home healthcare market are the growth in the number of old people, the growing number of reoccurring illnesses, the favourable steps that the government has undertaken as well as the increasing need for cheap healthcare services. The primary drivers of the global home healthcare market are the growing demand for testing, monitoring, mobility care products, therapeutic products, as well as screening products, and among all these it is the need for products that are taken into use for testing for diagnosis of illnesses that are on the higher side.
Regions covered — North America (US & Canada), Europe (UK, Germany, France, Spain, Italy, Russia, BENELUX and Rest of Europe), Latin America (Brazil, Mexico, and Rest of LA), East Asia (China, Japan and South Korea) South Asia (India, Indonesia, Malaysia, Thailand and Rest of South Asia), Oceania (Australia and New Zealand) and MEA (GCC, South Africa, Turkey, Northern Africa and Rest of MEA)
The major players in the market include:
- Coloplast A/S
- Braun Melsungen AG
- Baxter International Inc
- Hollister Incorporated
- Becton Dickinson and Co
- ConvaTec Group Plc
- Medtronic plc..
Application:
- Total Parenteral Nutrition (TPN)
- IV Medication
- Pressure Ulcers
- Stoma Care
Home Healthcare Market Segmentation by Category
By Product Type:
- Infusion Systems
- Ambulatory Infusion Pumps
- Implantable Infusion Pumps
- Infusion Disposable Sets
- Syringe Pumps
- Volumetric Pumps
- Pressure Relief Devices
- Mattress Overlays
- Mattresses
- Specialty Beds
- Hydrocolloids Dressings
- Hydrofibres Dressings
- Hydrogels Dressings
- Semi-permeable Films Dressings
- Superabsorbents Dressings
- Wound Contact Layers
- Gauze Sponges
- Gauzes
- Sponges
- Ostomy Drainage Bags
By Application:
- Total Parenteral Nutrition
- IV Medication
- Pressure Ulcer
- Stoma Care
By Region:
- North America
- Latin America
- Europe
- South Asia & Pacific
- East Asia
- The Middle East & Africa (MEA)
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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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