DUBLIN--(BUSINESS WIRE)--The "Home Healthcare Market - Growth, Trends, and Forecast (2020 - 2025)" report has been added to ResearchAndMarkets.com's offering.
The home healthcare market studied was anticipated to grow with a CAGR of 12.5% during the forecast period.
The major factor attributing to the growth of the market is a steep rise in the elderly population across all the geographical locations and increased preference for treatment within the home care settings. For instance, according to the United Nations data of World Population Prospects for the year 2019, number of people over the age 65 increases from 9% in 2019 to more than 16% of the total world's population by 2050. Thus, the rise in the volume of target patient pool results in the higher demand for the market fueling the global home healthcare market growth over the forecast period.
Key Market Trends
The Diagnostic Equipment Segment is Expected to Hold the Largest Market Share in the Home Healthcare Market
The diagnostic segment is expected to account for the largest revenue over the forecast period due to rise in prevalence of chronic disorders such as infectious diseases, diabetes, arthritis, cardiopulmonary and cardiovascular diseases which require continuous monitoring for the efficient treatment. Also, the rise in technological advancements in the recent years led to launch of new products for self-monitoring like multi parameter diagnostic monitors, home pregnancy and fertility kits. This resulted in high demand for these diagnostic equipment driving the market revenue over the forecast period.
North America Dominates the Market and Expected to do Same in the Forecast Period.
North America is expected to dominate the overall HHC market throughout the forecast period. The dominance is due to growing prevalence of various chronic diseases like coronary heart diseases, respiratory disorders and diabetes, presence of huge population of elderly population with rise in baby boomers during the forecast period in the United States necessitating the efficient treatment while managing the healthcare costs without facing financial penalties. For instance, according to the International Diabetes Federation in 2019, about 48 million adults in the North America are living with diabetes, among which more than half of the patients are over the age of 65 and are expected to continue in the future resulting in higher demand for the continuous monitoring equipment at homecare settings for efficient treatment of various diseases among the geriatric population driving the market in the region. Moreover, the rise in demand for HHC can be attributed to the increased convenience with availability of non-skilled labour, caregivers, services, physicians and various home healthcare equipment at homecare settings along with rise in healthcare expenditures at hospital premises availability of in the region. Also, presence of key players in the United states and launch of new wearable patient monitoring devices along with increased approvals by the USFDA are expected to fuel the market. For example, in September 2018, Apple received FDA approval for its The Apple watch series 4 as a class II medical device which can detect falls and arrhythmias helping the patients and physicians which is likely to drive the market growth contributing to its outstanding market share in the global HHC market.
The home healthcare market is moderately competitive and consists of several major players. Some of the companies are expanding their market position by adopting various strategies such as mergers & acquisitions, research collaborations with other companies to launch innovative products and consolidate their market positions across the globe. For example, in March 2019, ResMed consolidated its leading role in Korean market by acquiring HB Healthcare (HBH). HB Healthcare Safety is a Korea based home medical equipment manufacturer which offers coaching & technology services that help patients & healthcare providers. These type of strategic activities are expected to contribute in the growth of Home healthcare market.
Key Topics Covered:
1.1 Study Deliverables
1.2 Study Assumptions
1.3 Scope of the Study
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Rising Disposable Income and High Incidence of Surgical Procedures
4.2.2 Rapid Technological Advancements in Home Healthcare
4.3 Market Restraints
4.3.1 Lack of Awareness among the Developing and Underdeveloped Countries
4.4 Porter's Five Force Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5 MARKET SEGMENTATION
5.1.3 Mobility Care
5.3.1 Rehabilitation Services
5.3.2 Respiratory Therapy Services
5.3.3 Infusion Therapy Services
5.4.1 North America
188.8.131.52 United states
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 South Korea
22.214.171.124 Rest of Asia-Pacific
5.4.4 Middle-East and Africa
126.96.36.199 South Africa
188.8.131.52 Rest of Middle-East and Africa
5.4.5 South America
184.108.40.206 Rest of South America
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
6.1.1 Amedisys Home Health and Hospice Care
6.1.2 American Well
6.1.3 Apple Inc
6.1.4 CVS Health
6.1.5 Fresenius SE & Co KGaA
6.1.6 F. Hoffmann-La Roche AG
6.1.7 Humana Inc
6.1.8 LHC Group Inc
6.1.9 Kindred Healthcare
6.1.10 Resmed Inc
7 MARKET OPPORTUNITIES AND FUTURE TRENDS
For more information about this report visit https://www.researchandmarkets.com/r/r7fdrk