Home Healthcare Market 2023 Analysis, Research, Review, Applications and Forecast to 2033

BySanket Badgujar
Market Research-311c63f9

The Home Healthcare Market is predicted to capture a valuation of US$ 3.2 billion in 2023 and is estimated to grow at US$ 4.4 billion by 2033. The market is estimated to register a CAGR of 3.1% during the forecast period. Factors that drive the market size are given below:

By the end of 2030, the home health care market is anticipated to generate more than $4 billion in global market revenues. The future growth of the global home healthcare industry is anticipated for a variety of reasons. These include chronic illnesses, the rise in the geriatric population who find it difficult to visit hospitals and other diagnostic facilities repeatedly, the government’s efforts to promote home healthcare, the rising cost of healthcare, the expanding demand for treatments at affordable prices, and technological advancements in the pharmaceutical and medical fields.

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

 

 

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