The global pediatric home healthcare industry size is worth US$ 38 Billion as of now and is expected to reach US$ 197 Billion by the year 2033 at a whopping CAGR of 16.3% between 2023 and 2033.
Life-sustaining pediatric home healthcare services are found to have reduced the hospital stays for the ones with respiratory, neurological, and cardiac disorders. The Natural Survey of Children with Special Healthcare Needs states that more than 20% of children aged between 5 and 19 need exclusive medical care. While incidences of CSHCN (Children with Special Healthcare Needs) increasing, availability of the pediatric home healthcare services enhances quality of lives for such children, thereby drastically reducing medical expenses.
Assistive devices/equipment like CPAP, ventilators, apnea monitors, nebulizers have let infants with various complex diseases for being discharged from the neonatal intensive care units and continue with medical assistance through pediatric nursing care at home. Plus, skilled nursing services are growing owing to increase in number of children contracting complex medical conditions like cerebral palsy, epilepsy, asthma, and cystic fibrosis.
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Future Market Insights has walked through these facts with insights in its latest market study entitled ‘Pediatric Home healthcare market’. It has its team of analysts and consultants to deploy an eagle’s eye view in its primary, secondary, and tertiary modes of research.
“With advanced technologies being available to provide continuous medical assistance and continuous care to the children (with medical complexities) at home, the global pediatric home healthcare market is bound to grow remarkably in the forecast period”, says an analyst from Future Market Insights.
Key Takeaways from Pediatric Home Healthcare Market:
- North America holds more than 30% of the market share. This could be credited to increasing awareness regarding pediatric home healthcare. Research states that close to 500K adolescents and infants with exclusive medical needs need several therapeutic and medical services at their homes. Also, pediatric home healthcare market cuts down on hospital expenditure.
- The Asia-Pacific is expected to witness growth at the highest rate in the pediatric home healthcare market in the near future with India and China leading from the front. This could be attributed to call for being budget-friendly regarding pediatric care.
- Europe holds the second-largest market share with the UK being the torchbearer; and the situation is expected to remain unchanged even in the forecast period.
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Competitive Analysis:
- Netsmart, in October 2020, entered into collaboration with Aveanna Healthcare with the objective of aligning over 200 sites in 23 states, thereby facilitating significant expansion as well as scale while ascertaining quality during treatment.
- Bayada Home Health, in November 2020, entered into a joint venture with Baptist Home health to be able to treat patients better at home where they are capable of flourishing and recuperating.
- Mary’s Home Care, in December 2020, did announce the offering of novel rehabilitation services for critically ill children.
- Expressable, in December 2020, did create telemedicine solution for those suffering from speech-language challenges.
What does the Report drive home?
- The research study is based on specialty (skilled nursing service, personal care assistance, and rehabilitation therapy services).
- With increase in the number of children needing special care, the global pediatric home healthcare market is expected to grow well in the forecast period.
Key Companies Profiled:
- Aveanna Healthcare, Inc.
- DJK Home Healthcare LLC
- BAYADA Home Health Care
- Tendercare Home Health
- BrightStar Care
- Angels of Care Pediatric Home Health
- New England Home Care, Inc.
- Pediatric Home Healthcare
- Enviva Paediatric Care
- Interim Healthcare Inc.
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Segments Covered in Pediatric Home Healthcare Market Analysis:
By Specialty:
- Skilled Nursing Service
- Personal Care Assistance
- Rehabilitation Therapy Services
By Region:
- North America
- Latin America
- Europe
- APAC
- Middle East & Africa (MEA)
About Future Market Insights (FMI)
Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.
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