Home Healthcare Market by Type, Application, and Geography - Forecast and Analysis 2020-2024
- Published: Sep 2020
- Pages: 120
- SKU: IRTNTR45131
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The home healthcare market size has the potential to grow by USD 164.68 billion during 2020-2024, and the market’s growth momentum will accelerate during the forecast period.
This report provides a detailed analysis of the market by type (products, services, and solutions), application (medical treatment and preventive healthcare), and geography (Asia, Europe, North America, and ROW). Also, the report analyzes the market’s competitive landscape and offers information on several market vendors, including A&D Co. Ltd., Abbott Laboratories, B. Braun Melsungen AG, Exergen Corp., F. Hoffmann-La Roche Ltd., Fresenius Medical Care AG & Co. KGaA, Johnson & Johnson, Koninklijke Philips NV, Linde plc, and Omron Healthcare Inc.
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Market Competitive Analysis
The home healthcare market is fragmented with the presence of several regional and global vendors. Only the key vendors provide their products, services, and solutions in all regions. The small vendors offer a limited number of products, services, and solutions in a particular region. With the global vendors consistently increasing their footprint in the market, the regional vendors are finding it increasingly difficult to compete with them, especially on parameters such as quality, pricing, market reach, and financial resources. The competitive environment in the market is expected to intensify further during the forecast period. Vendors are capitalizing on the popularity of online media to develop a competitive edge. A&D Co. Ltd., Abbott Laboratories, and B. Braun Melsungen AG are some of the major market participants. Although government initiatives to promote home healthcare will offer immense growth opportunities, the lack of home HCPs will challenge the growth of the market participants. To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.
To help clients improve their market position, this home healthcare market forecast report provides a detailed analysis of the market leaders and offers information on the competencies and capacities of these companies. The report also covers details on the market’s competitive landscape and offers information on the products offered by various companies. Moreover, this home healthcare market analysis report also provides information on the upcoming trends and challenges that will influence market growth. This will help companies create strategies to make the most of future growth opportunities.
This report provides information on the production, sustainability, and prospects of several leading companies, including:
- A&D Co. Ltd.
- Abbott Laboratories
- B. Braun Melsungen AG
- Exergen Corp.
- F. Hoffmann-La Roche Ltd.
- Fresenius Medical Care AG & Co. KGaA
- Johnson & Johnson
- Koninklijke Philips NV
- Linde plc
- Omron Healthcare Inc.
Home Healthcare Market: Segmentation by Geography
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North America was the largest home healthcare market in 2019, and the region will offer several growth opportunities to market vendors during the forecast period. The growth of the aging population, increasing adoption of long-term healthcare services, and increasing awareness about healthcare will significantly drive home healthcare market growth in this region over the forecast period.
33% of the market’s growth will originate from North America during the forecast period. The US and Canada are the key markets for home healthcare in North America. However, market growth in this region will be slower than the growth of the market in Asia.
Home Healthcare Market: Segmentation by Type
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Products contribute to the majority of the revenue to the global home healthcare market. This was due to its wide application and easy availability. Several products are used in home healthcare. These include patient monitoring devices, POC products, assistive devices, and preventive healthcare products. The segment holds the highest market share because products reduce patient dependency on HCPs. Additionally, restrictions on movement have led to an increase in the adoption of home healthcare devices products. Such products include blood glucose, pulse oximeters, and thermometers and are used to monitor the vitals of individuals. Thus, the increasing sales of the above-mentioned devices are expected to accelerate the growth of the market during the forecast period. This report provides an accurate prediction of the contribution of all the segments to the growth of the home healthcare market size.
Home Healthcare Market: Key Drivers and Trends
Governments of several countries are introducing several programs to improve the affordability and accessibility of healthcare. Technavio’s market research report identifies that the proliferation of government initiatives to promote home healthcare will be one of the primary growth drivers for the global home healthcare market. Patient protection and affordable care act (PPACA) was established in the US in March 2010. This in turn, encouraged a large number of physicians to reduce costs and improve outcomes by transforming their practices clinically, technologically, and financially. Consequently, the preference for home healthcare and elderly care is increasing and the cost of healthcare is reducing. Technavio’s market research analysts predict that this market will grow at a CAGR of over 9% during the forecast period.
Home Healthcare Market: Key Highlights of the Report for 2020-2024
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will drive home healthcare market growth during the next five years
- Precise estimation of the home healthcare market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the home healthcare industry across Asia, Europe, North America, and ROW
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of home healthcare market vendors
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Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
- Market size and forecast
- Market segmentation
- Geographical insights
- Competitive landscape
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Frequently Asked Questions?
- Quality of home healthcare increasing patient satisfaction
- Expansion and growth of several healthcare domains
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