Home healthcare includes a wide variety of health care services that could be provided to a patient suffering from an injury or a disease at his home. It is preferred over usual medical care because it is generally less expensive and more convenient than the usual medical care. It can be provided by a health plan or supplement insurance. Sometimes the doctor can refer a patient to a home health care agency. An agent generally comes to the patient’s house and asks questions about his/her health and in due time they give the doctor constant updates about the patient’s health.
The major market players in global home healthcare market include B. Braun Melsungen AG, Almost Family Inc., Abbott Laboratories, 3M Health Care, Sunrise Medical Inc., Baxter, Cardinal Health Inc., Medtronic, National Healthcare crop., Air Liquide, Roche diagnostics corp., Arcadia Health Care, Omron Healthcare Inc., Bayer AG, Nxstage Medical, Inc., Apria healthcare group, Arkray Inc., Odyssey Healthcare Inc., Critical Homecare, Becton, Dickinson and Company, and Amedisys, Inc. These market players are engaged in a variety of strategic initiatives like collaborations, regional expansion, mergers and acquisitions, service range expansion.
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Market Status –
The global Home Healthcare Market was evaluated around USD 195.55 billion in the 2012 and is expected to reach approximately USD 459.53 billion by the end of 2022 while registering itself at a compound annual growth rate (CAGR) of 8.92% over the forecast period. Increasing treatment price is amongst the biggest areas of concern for health organizations and government, and these organizations are determined to control rising healthcare expenditure. Home healthcare is a cost-effective option as compared to costly hospital stays. These services assist to save cost considerably, therefore, expected to act as high impact delivering factor for the global home healthcare industry. Rising workforce concerning to these services interprets the growing home healthcare services demand. According to the statistics released by the United States Bureau of Labor Statistics, the position of home care and personal care aids are projected to rise approximately 13.0 million by the end of 2020, which interprets to around 70.0% boost from 2010.
Component Outlook and Trend Analysis
In 2015, diagnostics equipment reported for over 35.0% of the total home healthcare equipment industry, and is anticipated to achieve market share around the projected period, due to rising occurrence of cardiovascular, cardiopulmonary and diabetes diseases, also enhanced awareness levels among patients, rising incidence of long-term diseases demanding continuous diagnosis and elevated application rates of fertility and pregnancy tests and BP monitors. In 2015, rehabilitation services reported for around 50.0% of the global home healthcare service market mostly due to rising geriatric population and increasing occurrence rates of surgical procedures concerning to trauma. On the other hand, owing to increasing demand for parenteral and enteral nutrition, infusion therapy is anticipated to achieve market share over the forecast years.
Advantages of Home Healthcare:
It provides personalised healthcare.
It reduces the chances of having medical negligence cases.
It provides all the equipment at the disposal of the patient at all times.
It is less expensive for treating terminally ill patients when compared to their treatment in big, fancy, multispecialty hospitals.
It does not place any restriction on visiting of visitors, friends and relatives
Research Report Description with Detailed TOC of Home Healthcare Market @:
Rest of Europe
Rest of Asia Pacific
Rest of the World
United Arab Emirates
Regional Outlook –
North American regional market held the major revenue share in 2015 at around 40.0% due to the existence of advance healthcare infrastructure, elevated awareness levels among patient along with moderately higher medical spending levels in this region. Asia Pacific regional market is expected to witness beneficial growth during the forecast years. Developing economy rectifies to develop infrastructure, high unfulfilled requirements of massive population and accessibility skilled labor likely to administer the development of the region.
Who Needs Home Healthcare?
Mostly it is used for people above the age of 70 but it could be used for anyone those above 70 or newborn babies.
Those who have been recently discharged from the hospital: They are provided reminders to take their medicine as prescribed from the doctor.
Those who have terminal illness: Can be provided companionship services like outings, conversation, book reading, recreational activities, etc.
Those with short term health needs: Any personal help or hands on assistance.
Those who remain at home because of a disability or being very aged: All activities of daily living and personal services like feeding, bathing, dressing, toileting, etc. to those who are unable to do so.
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Major Table of Contents:
Chapter 1. Introduction
1.1. Report Description
1.2. Research Methodology
1.2.1. Secondary Research
1.2.2. Primary Research
Chapter 2. Executive Summary
2.1. Key Highlights
Chapter 3. Market Overview
3.1.1. Market Definition
3.1.2. Market Segmentation
3.2. Market Dynamics
22.214.171.124. Emerging Countries to Offer Lucrative Growth Opportunities
….CONTINUED FOR TOC
Reason to Buy –
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the Home Healthcare Market, thereby allowing players to develop effective long term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to products, segmentation and industry verticals.
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