Home Healthcare Market Growth $515.6 Billion By 2027 | Key Manufacturers Operating in the Market are Medline Industries, Inc.; McKesson Medical-Surgical Inc.: Grand View Research, Inc.

June 17 07:52 2020
Home Healthcare Market Growth $515.6 Billion By 2027 | Key Manufacturers Operating in the Market are Medline Industries, Inc.; McKesson Medical-Surgical Inc.: Grand View Research, Inc.

Grand View Research, Inc. – Market Research And Consulting.
According to a new report by Grand View Research, Inc the global home healthcare market size was valued at USD 281.8 billion in 2019 and is expected to grow at a compound annual growth rate (CAGR) of 7.9% from 2020 to 2027. Population aging around the world and increased patient preference for value-based healthcare are anticipated to fuel market growth.

The global home healthcare market size is anticipated to reach USD 515.6 billion by 2027, registering a CAGR of 7.9%, according to a new report by Grand View Research, Inc. This growth can be attributed to cost-efficiency, improved patient outcomes, and convenience offered by home healthcare agencies. In addition, rising geriatric population and growing prevalence of chronic diseases such as Alzheimer’s, dementia, and orthopedic conditions, is expected to drive market growth. As per the Population Reference Bureau data updated in June 2019, the number of people aged 65 years and above was 52 million in 2018 and is projected to double by 2060 to reach 95 million. The World Health Organization (WHO) statistics state that there are around 50 million dementia patients in the world with 10 million new cases getting added every year. This number is expected to reach 82 million by 2030.

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U.S. home healthcare market size

 

The elderly population is expected to outnumber the children population in the span, which is a demographic shift and poses to be a public health challenge. Besides, maintenance and establishment of hospitals and other healthcare settings need high capital investment. Some of the healthcare solutions providers are following merger and acquisition strategy to enter the market, in order to provide cost-effective service and leverage the expertise of the merged or acquired firm. Also, shifting trends toward in-home healthcare services for patients to avoid hospital stay is another key factor driving home healthcare market growth. In the past several years, the number of nursing facilities has reduced, while the in-home nursing programs have doubled.

Home Healthcare Market Report Highlights

  • Services dominated the component segment in 2019 attributed to the growing demand for skilled nurse in-home healthcare for services like physical and occupational therapy

  • Growing demand for the skilled nurses at home for rehabilitation service, wound dressings, tube feedings, and maintaining stable patient health drive the growth of this segment. Mainly, patients suffering major trauma due to accidents or those suffering from strokes opt for rehabilitation services for improving their way of talking, walking, and feeding themselves all over again

  • Key manufacturers operating in the market are Medline Industries, Inc.; McKesson Medical-Surgical Inc.; Medtronic Plc; Baxter International Inc.; Becton, Dickinson And Company; Cardinal Health; and GE Healthcare

  • The key service providers are Brookdale Senior Living, Inc.; Home Health Services Ltd.; Sunrise Carlisle, LP; Extendicare, Inc.; Care UK Limited; Senior Care Centers of America; Genesis Healthcare Corp.; Sompo Holdings, Inc.; Kindred Healthcare, Inc.; and Home Instead Senior Care, Inc. The key software solution providers are Allscripts Healthcare Solutions, Inc.; Epic Systems Corporation; Cerner; and McKesson Corporation

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Global home healthcare market share

 

North America dominated the home healthcare market with a share of around 42% in 2019. In North America, U.S. held the largest market share in 2019 attributed to shifting trends towards in-home healthcare from the nursing homes, technological advancement, and presence of advanced medical infrastructure. In addition, high patient awareness levels coupled with increasing healthcare expenditure and the implementation of the streamlined regulatory framework are also driving the market in the region. Supportive initiatives by the Centers for Medicare and Medicaid Services are anticipated to propel market growth further.

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Grand View Research has segmented the global home healthcare market based on components and Regions:

Home Healthcare Component Outlook (Revenue, USD Million; 2016 – 2027)

  • Equipment

    • Therapeutic

      • Home respiratory therapy equipment

      • Insulin delivery devices

      • Home IV pumps

      • Home dialysis equipment

      • Others

    • Diagnostic

      • Diabetic care unit

      • BP monitors

      • Multi para diagnostic monitors

      • Home pregnancy and fertility kits

      • Apnea and sleep monitors

      • Holter monitors

      • Heart rate meters

      • Other

    • Mobility Assist

      • Wheel chair

      • Home medical furniture

      • Walking assist devices

  • Services

    • Skilled home healthcare

      • Physician/primary care

      • Nursing care

      • Physical, occupational, and/or speech therapy

      • Nutritional support

      • Hospice & palliative care

      • Other skilled home care services

    • Unskilled home healthcare

Home Healthcare Regional Outlook (Revenue, USD Million, 2016 – 2027)

  • North America

    • U.S.

    • Canada

  • Europe

    • UK

    • Germany

    • Sweden

    • France

    • Italy

    • Russia

    • Netherlands

    • Spain

  • Asia Pacific

    • Japan

    • China

    • India

    • Australia

    • Singapore

    • Thailand

    • Philippines

    • Korea

    • Malaysia

  • Latin America

    • Brazil

    • Mexico

    • Argentina

  • Middle East & Africa

    • South Africa

    • Saudi Arabia

    • Oman

    • Egypt

    • UAE

List of Key Players in the Home Healthcare Market:

  • Manufacturers:-

    • McKesson Medical-Surgical Inc.

    • Fresenius Medical Care

    • Medline Industries, Inc.

    • Medtronic PLC

    • 3M Healthcare

    • Baxter International Inc.

    • B. Braun Melsungen AG

    • Arkray, Inc.

    • F. Hoffmann-La Roche AG

    • Becton, Dickinson And Company

    • Acelity L.P.

    • Hollister Inc.

    • ConvaTec Group PLC

    • Molnlycke Health Care

  • Service Providers:-

    • Brookdale Senior Living, Inc.

    • Home Health Services Ltd.

    • Sunrise Carlisle, LP

    • Extendicare, Inc.

    • Care UK Limited

    • Senior Care Centers of America

    • Genesis Healthcare Corp.

    • Sompo Holdings, Inc.

    • Kindred Healthcare, Inc.

    • Home Instead Senior Care, Inc.

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About Grand View Research

 

Grand View Research provides syndicated as well as customized research reports and consulting services on 46 industries across 25 major countries worldwide. This U.S.-based market research and consulting company is registered in California and headquartered in San Francisco. Comprising over 425 analysts and consultants, the company adds 1200+ market research reports to its extensive database each year. Supported by an interactive market intelligence platform, the team at Grand View Research Guides Fortune 500 companies and prominent academic institutes in comprehending the global and regional business environment and carefully identifying future opportunities.

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