Europe Home Care Market Growth & Trends

The Europe home care market size is estimated to reach USD 137.5 billion by 2027, expanding at a CAGR of 7.6%, according to a new report by Grand View Research, Inc. The growing population of adults above 65 years of age, shifting trend towards home care for more personalized treatment, availability of cost-effective alternatives coupled with technological advancements are the key factors driving the market.

According to the Eurostat study, European countries spent on around 1.0% of their healthcare expenditures on home care and rehabilitative home care and around 4.0% on long-term nursing care at home. Reimbursement on home care services is offered by the central government. People are free to choose the providers and even the type of healthcare. But complete coverage of the service is not available as there are two forms of home care available in the country, which include healthcare and social care. They are governed differently by different financial sources.

Europe Home Care Market Report Highlights

  • The services segment dominated the market in 2019 due to a rise in the aging population in the region coupled with the growing demand for home-based care
  • Skilled nursing dominated the services segment in 2019 attributed to cost-effectiveness and patient-centric healthcare at home
  • Therapeutic equipment dominated the equipment segment in 2019. Growing demand for home respiratory therapy equipment for the treatment and assessment of cardiopulmonary disorders such as bronchitis, asthma, and COPD propels the market growth
  • The diagnostic equipment segment is anticipated to witness the highest CAGR over the forecast period
  • Several European countries have universal long-term care coverage. In addition, the tax-based system in England is also focusing on the provision of rehabilitation and care services to patients. These factors are expected to result in lucrative growth of the market in Europe in the coming years
  • In Europe, the market is highly competitive with many global players operating in the region
  • As patients are finding it difficult to access healthcare due to the COVID-19 pandemic, healthcare companies are providing new solutions to address the problem. For instance, in June 2020, Octapharma AG partnered with Domedica for the “WiCare Program” to provide home support to von Willebrand Disease (vWD) patients. It includes training on the self-administration of coagulation factors and a dedicated toll-free number for additional support.