About Household Healthcare
Household health care is basically related to home health nursing, rehabilitation as well as personal care services. It mainly supports homebound patients by providing coverage for intermittent skilled nursing as well as therapy services. In addition, this service is mostly provided by Medicare-certified home health agencies globally. Increasing usage of household health care in various application such as Home Diagnosis & Home Health and upsurge in geriatric population which finds it difficult to visit hospitals and other diagnostic centers repeatedly are some of the major factors which affect the growth of the market in future.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
High Growth Market | Asia-Pacific |
Unit | Value (USD Million) |
CAGR | 10.1% |
The market is fragmented with numerous players focusing on technique and quality of the product due to which the global household health care market can witness an upsurge in the forecast period. Analyst at AMA Research estimates that Global Players will contribute the maximum growth to Global Household Healthcare market throughout the forecasted period. Established and emerging Players should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Almost Family Inc (United States), B. Braun Melsungen AG (Germany), Abbott Laboratories (United States), Sunrise Medical, Inc. (United States), 3M Healthcare (United States), Medtronic (Ireland), Baxter International (United States), F. Hoffmann-La Roche (Switzerland), Air Liquide S.A. (France) and Amedisys (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are NxStage Medical (United States) and Array (India).
Segmentation Overview
AMA Research has segmented the market of Global Household Healthcare market by Type (Hardware Devices and Software Services), Application (Home Diagnosis and Home Health) and Region.
On the basis of geography, the market of Household Healthcare has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). North America region held largest market share in the year 2023. If we see Market by Distribution Channel, the sub-segment i.e. Offline Channel will boost the Household Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Government Initiative for Promoting Household Healthcare. For Instance, in 2016, According to NCBI, More than 3.4 million people have received Medicare Skilled Home Health Care in the United States
Market Growth Drivers:
Rising Incidence of Chronic Diseases and Government Initiatives to Promote Home Healthcare and Increasing Healthcare Costs as well as the Growing Need for Affordable Treatment Options
Challenges:
The issue regarding the Shortage of Home Care Workers
Restraints:
Problem related to Changing Reimbursement Policies
Opportunities:
Rising Demand from Untapped Developing Regions Namely China and India and Rising Focus on Telehealth globally
Market Leaders and their expansionary development strategies
In September 2023, Merago Inc., a healthcare, and financial technology company headquartered in Mountain View, California, US announced the addition of home healthcare services to its platform in India.Merago has partnered with Portea Medical, a Bengaluru-based outside-of-hospital healthcare provider, towards this end. The company recently launched the Merago Digital Healthcare Network– an advanced personal healthcare management system for consumers.
In January 2024, Eli Lilly and Co (LLY.N), opens new tab on Thursday launched a website to enable people to directly order from the drugmaker including its weight-loss medicine Zepbound as well as connect people with obesity and other conditions with telehealth companies.
Key Target Audience
Household Healthcare Manufacturers, Household Healthcare Providers, Household Healthcare Vendors, Nursing Services Providers, Wound Care Product Manufacturing Companies, Pregnancy Care Product Manufacturers and Service Providers, Supportive Care Product Manufacturers and Service Providers, Diagnostic Companies, Research and Development (R&D) Companies, Business Research and Consulting Service Providers, Medical Research Laboratories and Venture Capitalists
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.