Authored By: Sarah
11 Jul 2024

 Home Healthcare Services Market Size to grow by USD 51533.1 million between 2024-2028

According to a research report “ Home Healthcare Services Market” by Application (Therapeutic services, Diagnostic services, Others) Geography (North America, Asia, Europe, Rest of World (ROW))- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 51533.1 million, at a CAGR of  10.03% during the forecast period. The global population is experiencing significant demographic shifts, with the aging population expanding at an unprecedented rate. According to the World Health Organization, the proportion of the global population aged 60 and above is projected to nearly double from 12% in 2015 to 22% by 2050. This trend is particularly pronounced in developing countries, where the geriatric population is expected to increase by over 250% compared to a 71% increase in developed countries. Notable increases are anticipated in Asian nations like China, India, and Indonesia, as well as in North American countries such as the US, Canada, and Mexico, which could potentially quadruple their geriatric populations by the end of this decade. This significant growth in the older adult population presents a substantial opportunity for the home healthcare services market.

Browse market data tables, figures, and in-depth TOC on “Home Healthcare Services Market” by Application (Therapeutic services, Diagnostic services, Others) Geography (North America, Asia, Europe, Rest of World (ROW)) Global Forecast to 2028. Download Free Sample

 

By Application, the Therapeutic services segment is projected to dominate the market size in 2024

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By Geography, North America  segment is expected to hold the largest market size for the year 2024

In the realm of home healthcare services, therapeutic care plays a pivotal role for critically ill patients post-treatment and during recovery from various medical conditions. Home healthcare settings offer intensive care unit (ICU) services, delivered by proficient healthcare professionals, to individuals with complex medical needs or those at risk of complications. Post-surgery, patients receive specialized therapeutic services to facilitate early recovery. For instance, home-based wound management is a significant offering, where skilled healthcare professionals administer intricate wound care for patients recuperating from ostomies. The importance of these services lies in the prevention and management of potential infections during the healing process.

North America is forecasted to hold the largest market size by region in 2024

The Home Healthcare Services Market encompasses a range of medical and non-medical services delivered to patients in their residences. These services cater to various healthcare needs, including post-hospitalization care, chronic disease management, and elderly care. Market growth is driven by an aging population, increasing prevalence of chronic diseases, and a shift towards cost-effective, convenient care options. Key players in this market prioritize innovation, quality, and customer satisfaction to maintain a competitive edge.

The Home Healthcare Services Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:

  • AccentCare Inc.
  • Addus HomeCare Corp.
  • Advino Healthcare Pvt ltd.
  • Allied Healthcare Products Inc.
  • Amedisys Inc.
  • Apollo Homecare
  • Bluebird Care network
  • Brookdale Senior Living Inc.
  • CVS Health Corp.
  • Genesis Healthcare Inc.
  • Grand world Elder Care
  • Health Vista Private Ltd.
  • Kindred Healthcare LLC
  • LHC GROUP Inc.
  • Magic Potion Technology Pvt Ltd.
  • Max Healthcare
  • Philips International BV
  • ProMedica Health System Inc.
  • Sutter Health
  • TriBeCa Care
.

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Research Analysis Overview

The home healthcare services market is experiencing significant growth due to the increasing aging population and the rise in chronic illnesses. This market includes licensed healthcare providers offering personal care support, medical social services, speech therapy, occupational therapy, physical therapy, and skilled nursing care. The rehabilitation segment and services segment are key areas of focus, with telehealth platforms and smart sensors playing crucial roles in remote patient monitoring and virtual medical services. Home healthcare agencies are collaborating with health organizations to provide telemedicine, educational services, and virtual medical services to enhance patient comfort and convenience. The use of telehealth and health systems in home healthcare is revolutionizing the sector, enabling real-time monitoring and timely intervention for patients with chronic conditions. The integration of technology, such as telehealth platforms and smart sensors, is transforming home healthcare services by providing efficient, cost-effective, and personalized care. The aging population's growing need for healthcare services in the comfort of their homes is driving the demand for these innovative solutions. Overall, the home healthcare sector is poised for continued growth and innovation in the coming years.

Market Research Overview

The Home Healthcare Services Market is a growing sector that caters to the unique needs of geriatric patients and those with chronic diseases. This market includes a range of services and products, from social workers and rehabilitation services to medical equipment rental and home infusion therapy. Social workers and speech-language pathologists provide essential mental health and communication support, while remote monitoring systems, telemedicine platforms, and wearables enable patient monitoring and virtual consultations. Rehabilitation services, including those provided by physical, occupational, and speech therapists, help patients recover from injuries or manage mobility disorders. Registered nurses, licensed practical nurses, personal care assistants, home health aides, and nursing staff provide skilled and unskilled care services. Artificial intelligence and telehealth platforms enhance patient-centric care, enabling early diagnosis and personalized treatment plans. Services offered include skilled nursing care, medical social services, speech therapy, occupational therapy, physical therapy, and rehabilitation. Value-based care services, healthcare reforms, and postoperative care are driving growth in this sector. The market includes diagnostic and therapeutic services for conditions such as heart disease, obesity, diabetes, hypertension, cancer, Alzheimer's disease, and neurological & mental disorders. Home healthcare agencies offer mobility assistance, medical monitoring devices, and telehealth platforms to ensure patient comfort and support. Medicaid and Medicare provide insurance coverage for many home healthcare services, while reimbursement policies and educational services help ensure quality care. The home healthcare sector serves an aging population with chronic illnesses, including bed-ridden patients and those with mobility disorders. Long-term plans, recovery rate, and patient comfort are key considerations for home healthcare services, which also include home care facilities, medical monitoring devices, and virtual medical services. The therapeutic products segment includes mobility care items and hearing impairment solutions. Home healthcare services are essential for geriatric patients, those with chronic diseases, and those requiring postoperative care or primary care. These services enable patients to receive care in the comfort of their own homes, improving patient outcomes and quality of life.

Contacts

Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

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