The structure of the world’s population is undergoing significant change. The OECD forecasts that, globally the population aged 65 and over will be more than double to 16.2% by 2050, with the percentage of people aged 80 and over increasing significantly. As per the World Health Organization (WHO) statistics, the global base of population pertaining to the age group – 60 years and above is expected to reach 2 billion in 2050. Decreasing fertility rates, coupled with increasing overall life expectancy, are driving up the share of elderly in the overall population. As a result, demand for elderly care is expected to rise significantly. This geriatric population base is highly susceptible to various diseases such diabetes, blood pressure, sleep apnea, arthritis, and cardiovascular. Therefore, the growing global geriatric population base coupled with the fact that approximately 70% of home health patients belong to the age group of 65 years and above, is expected to drive market demand for home healthcare products and services during the forecast period.
In addition, growing shift towards the home care due to rising awareness regarding the convenience and cost-effectiveness of home healthcare products & services further contributing to the growth of this market. Technological advancements such as tele-health, wearable devices, mobile health applications etc. and government initiatives to promote home healthcare are also fueling the growth of home healthcare market across the globe. However, changing reimbursement policies, limited insurance coverage, risk to safety and health of home healthcare worker, and growing patient safety concerns are some of the factors that may hinder the growth of this market during the forecast period.
The global home healthcare market is mainly segmented into products, services, and geography. The home healthcare products market is primarily segmented into home tests and patient monitoring equipment which includes fertility tests, pregnancy tests, gender, dna & parental tests, drug tests, alcohol tests, cholesterol tests, HIV tests, holter monitors, blood pressure monitors, oximeters, heart rate monitors, thermometers, mediscopes, stethoscopes, defibrillators, pedometers, scales & body fat monitors, peak flow meters, apnea monitors, baby monitors, coagulation monitors, and diabetes management devices; home therapeutic equipment which includes home respiratory therapy equipment (continuous positive airway pressure equipment, oxygen delivery equipment, nebulizers & accessories, ventilators & accessories, and humidifiers), home dialysis equipment (home peritoneal dialysis products, home hemodialysis products) home IV equipment ( IV pumps, and other home IV equipment) and others; patient support equipment which includes wheelchairs and related equipment (wheelchairs- manual wheelchairs and powered wheelchairs), walking assist devices, mobility scooters, medical furniture and accessories, and bathroom safety equipment. Further, home healthcare services market is segmented into rehabilitation services, infusion services, skilled care/nursing, unskilled care services, telehealth services, respiratory therapy services, and others.
The global home healthcare market is further segmented by geography into four major continents namely, North America, Europe, Asia-Pacific, and Rest of the World (RoW). These regions are further analyzed at a country level to provide the market size and forecast for each segment and sub-segment of the market in various countries across the globe.
North America dominates the global home healthcare market owing to the presence of high sophisticated healthcare infrastructure, favorable reimbursement policies, increasing investment in R&D facilities, and presence of large number of small scale and large scale healthcare service providers. Europe accounted for the second largest share of the total home healthcare market owing to increasing aged population, high prevalence of diabetes and cardiovascular diseases, and increasing healthcare investments by the European government. On the other hand, Asia-Pacific home healthcare market is expected to grow at a rapid pace during the forecast period owing to the increasing geriatric population as elder people are prone to many disorders such as orthopedic, cardiovascular and others, rising awareness about the cost effectiveness and convenience offered by these products and services, and rising health care expenditures in emerging countries such as India and China, which are projected to be the fastest-growing countries in the Asian home healthcare market during the forecast period.
The report offers meticulous analysis of market dynamics, burning issues, and technological landscape of the global home healthcare market. The report also provides a competitive landscape that covers the growth strategies adopted by industry players in the last three years. In addition, the major players are analyzed with respect to their company overview, product and service portfolios, financials, and recent developments. Some of the major players analyzed in the report are Abbott Laboratories, Alere, Amedisys, Apria Health Group, B. Braun Medical, Baxter Healthcare, BAYADA Home Health Care, CareFusion (a BD Company), Chemed Corporation (VITAS), Convatec, Corpak MedSystems, Covidien, Fisher & Paykel, Fresenius Medical, GE Healthcare, Gentiva Health Services, Johnson & Johnson, LHC Group, Lincare, ResMed, Roche, Sunrise Medical, and Others.
Key questions answered in the report-
Which are the high growth market segments in terms of home healthcare products, services, regions, and countries?
What is the historical market for home healthcare across the globe?
What are the market forecasts and estimates from the period 2016-2022?
What are the major drivers, restrains, threats, and opportunities in the global home healthcare market?
What are the burning issues of the global home healthcare market?
Who are the major players in the global home healthcare market and what share of the market do they hold?
Who are the major players in various regions (North America, APAC, Europe, Latin America, and Middle East & Africa) and what share of the market do they hold?
What are the competitive landscapes and who are the market leaders by sub-region in the global home healthcare market?
What are the recent developments in the global home healthcare market?
What are the different strategies adopted by the major players in the global home healthcare market?
What are the geographical trends and high growth regions/ countries?