LONDON--(BUSINESS WIRE)--The home healthcare market research report examines the key questions around the implications of COVID-19 and provides a recovery analysis and outlook for the market in focus. The market has witnessed a positive impact due to the COVID-19 situation. The research analysts at Technavio expects the home healthcare market to grow by USD 164.68 billion during the forecast period, accelerating at a CAGR of over 9%.
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Home Healthcare Market Segmentation Analysis by Product
Products contribute to the majority of the revenue to the global home healthcare market. 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. 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 Regional Analysis
- The report covers regional analysis for APAC (India, China, Japan, and South Korea), Europe (Germany, France, UK, Italy), North America (US, Canada, Mexico), South America (Brazil, Argentina, Columbia), and MEA (UAE, Saudi Arabia, Iran).
- 33% of the growth will originate from the North American region.
- Factors such as 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.
- The US and Canada are the key markets for home healthcare in North America.
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Home Healthcare Market: Key Market Drivers
Home healthcare market is expected to be driven by the growing need to prevent infections and ensure patient safety. Infection control and prevention are essential in healthcare. To improve safety and prevent infection, the CDC has developed several guidelines. These guidelines are followed by HCPs and caregivers in hospitals and clinics to prevent hospital-acquired infections (HAIs). In recent years, home healthcare has also started following the guidelines. Some of the best practices recommended for efficient home healthcare include standardization of infection control practices in-home healthcare, training and education, and the assessment of possible contamination between the patients and family members. Thus, the growing demand to prevent infections and ensure patient safety will drive the growth of the market during the forecast period.
Proliferation of Government Initiatives to Promote Home Healthcare will be a Key Market Trend
Governments of several countries are introducing various programs to improve the affordability and accessibility of healthcare. For instance, the patient protection and affordable care act (PPACA) was established in the US in March 2010, which 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. This will have a positive impact on the growth of the market.
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Home Healthcare Market 2020-2024 : Key Highlights
- CAGR of the market during the forecast period 2020-2024
- Detailed information on factors that will assist home healthcare market growth during the next five years
- Estimation of the home healthcare market size and its contribution to the parent market
- Predictions on upcoming trends and changes in consumer behavior
- The growth of the home healthcare market
- Analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of leather goods market vendors
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2019
- Market outlook: Forecast for 2019 - 2024
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Application
- Market segments
- Comparison by Application
- Medical treatment - Market size and forecast 2019-2024
- Preventive healthcare - Market size and forecast 2019-2024
- Market opportunity by Application
Market Segmentation by Type
- Market segments
- Comparison by Type
- Products - Market size and forecast 2019-2024
- Services - Market size and forecast 2019-2024
- Solutions - Market size and forecast 2019-2024
- Market opportunity by Type
- Geographic segmentation
- Geographic comparison
- North America - Market size and forecast 2019-2024
- Europe - Market size and forecast 2019-2024
- Asia - Market size and forecast 2019-2024
- ROW - Market size and forecast 2019-2024
- Key leading countries
- Market opportunity by geography
- Market drivers – Demand led growth
- Market challenges
- Market trends
- Vendor landscape
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- 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.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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