Home Healthcare Services Market by Application and Geography - Forecast and Analysis 2022-2026

The home healthcare services market share is expected to increase by USD 56.83 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 10.83%.

This home healthcare services market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers home healthcare services market segmentation by application (therapeutic services, diagnostic services, and others) and geography (North America, Asia, Europe, and Rest of World (ROW)). The home healthcare services market report also offers information on several market vendors, 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, 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, and TriBeCa Care among others.

What will the Home Healthcare Services Market Size be During the Forecast Period?

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The increasing awareness about healthcare will significantly drive home healthcare market growth in North America over the forecast period.

Home Healthcare Services Market: Key Drivers, Trends, and Challenges

The rising geriatric population is notably driving the home healthcare services market growth, although factors such as limited availability of skilled workforce may impede market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the home healthcare services industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Home Healthcare Services Market Driver

One of the key factors driving the global home healthcare services market growth is the rising geriatric population. According to the WHO, in October 2021, between the years 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. From 2010 to 2050, the geriatric population in developing countries will increase by more than 250% when compared with the geriatric population in developed countries, which will increase by 71%. This population is vulnerable to communicable and non-communicable diseases and hence, frequently needs healthcare services. Global home healthcare services are increasingly accepted due to the growing convenience and popularity of services like assistive living care and home-based diagnosis. Thus, the growth of the aging population will, in turn, drive the growth of the market during the forecast period.

Key Home Healthcare Services Market Trend

Connected healthcare is gaining acceptance among healthcare services is one of the key home healthcare services market trends that is expected to impact the industry positively in the forecast period. Connected health includes programs in telehealth, lifestyle management, home care, and disease management. It provides information regarding the progression of disease or treatment, which helps to measure the impact of the service on the health of patients. With the help of technology and advanced devices, connected healthcare systems provide real-time data to patients, caregivers, and doctors. Other benefits availed by users include optimized costs of treatment without a compromise on quality, reduced number of medical errors, real-time patient data collection, and preventive healthcare. Thus, the connected healthcare system is changing global home healthcare services, which is expected to drive the growth of the market during the forecast period.

Key Home Healthcare Services Market Challenge

One of the key challenges to the global home healthcare services market growth is the limited availability of a skilled workforce. The dearth of the healthcare workforce is primarily witnessed in developing countries due to the limited number of qualified and skilled professionals available for global home healthcare services and healthcare facilities. Due to this shortage of healthcare workers, the global home healthcare services industry is affected as patients who seek these services are highly dependent on doctors and other skilled healthcare professionals. The lack of skilled professionals can negatively affect the quality of care provided to patients, especially for critically ill patients and geriatric people suffering from various chronic diseases. Thus, such factors will challenge the growth of the global home healthcare services market in the forecast years.

This home healthcare services market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Parent Market Analysis

Technavio categorizes the global home healthcare services market as a part of the global pharmaceuticals market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the home healthcare services market during the forecast period.

Who are the Major Home Healthcare Services Market Vendors?

The report analyzes the market's competitive landscape and offers information on several market vendors, 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
• 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

 

This statistical study of the home healthcare services market encompasses successful business strategies deployed by the key vendors. The home healthcare services market is fragmented and the vendors are deploying organic and inorganic growth strategies to compete in the market.

Product Insights and News

• AccentCare Inc - The company offers home healthcare services that include care management, health alert systems, medical home care, hospice and palliative care, and home health.
• AccentCare Inc - The unified segment focuses on providing personal care services, home health, hospice, palliative care, and care management.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The home healthcare services market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies.

Home Healthcare Services Market Value Chain Analysis

Our report provides extensive information on the value chain analysis for the home healthcare services market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.

Which are the Key Regions for Home Healthcare Services Market?

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35% of the market's growth will originate from North America during the forecast period. The US is the key market for home healthcare services in North America. Market growth in this region will be faster than the growth of the market in Rest of World (ROW).

The growth of the aging population, increasing adoption of long-term healthcare services, and increasing awareness about healthcare will facilitate the home healthcare services market growth in North America over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

COVID Impact and Recovery Analysis

As of September 9, 2020, the US had 6.51 million cases of COVID-19, with 194,084 deaths. Many users, especially academic research institutes and industries that manufacture non-essential and essential items, have partially shut down their operations due to the pandemic. This led to a downturn in the economy and hampered trade in North America. However, home healthcare products and services are being increasingly adopted by individuals with COVID-19 as a part of treatment and daily telemedicine counseling. Furthermore, healthy individuals are increasingly buying thermometers and pulse oximeters to monitor their temperature and saturation levels. Such increased sales of thermometers, pulse oximeters, and telemedicine activities during the pandemic are expected to contribute to the growth of the market during the forecast period.

What are the Revenue-generating Application Segments in the Home Healthcare Services Market?

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The home healthcare services market share growth by the therapeutic services segment will be significant during the forecast period. Due to the rise in demand for home healthcare and the availability of skilled professionals, the market for therapeutic services will grow in the coming years. 

This report provides an accurate prediction of the contribution of all the segments to the growth of the home healthcare services market size and actionable market insights on post COVID-19 impact on each segment.

 

Home Healthcare Services Market Scope
Report Coverage	Details
Page number	120
Base year	2021
Forecast period	2022-2026
Growth momentum & CAGR	Accelerate at a CAGR of 10.83%
Market growth 2022-2026	$ 56.83 billion
Market structure	Fragmented
YoY growth (%)	9.53
Regional analysis	North America, Asia, Europe, and Rest of World (ROW)
Performing market contribution	North America at 35%
Key consumer countries	US, UK, Germany, China, and India
Competitive landscape	Leading companies, Competitive strategies, Consumer engagement scope
Key companies profiled	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, 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, and TriBeCa Care
Market dynamics	Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and recovery analysis and future consumer dynamics, Market condition analysis for forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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What are the Key Data Covered in this Home Healthcare Services Market Report?

• CAGR of the market during the forecast period 2022-2026
• Detailed information on factors that will drive home healthcare services market growth during the next five years
• Precise estimation of the home healthcare services 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 services industry across North America, Asia, Europe, and Rest of World (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 services market vendors

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