About Home Healthcare
Home health care is a service that includes skilled nursing care, and it required other skilled care services, including physical and occupational therapy, speech-language therapy, medical social services, and others. These services including a huge variety of skilled health care professionals at home. The home health dealing provides an assistant to coordinate the care and therapy on doctor orders.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
CAGR | 8.46% |
The companies are operating in this industry are trying to explore new regions by adopting mergers & acquisitions, expansions, investments, new product launches, and partnerships as their strategies. There are various key players are discovering new areas through growths and acquisitions across the globe to benefit competitive advantage through combined collaborations. Analyst at AMA Research estimates that United States Players will contribute the maximum growth to Global Home 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.
Abbott Laboratories (United States), Johnson & Johnson (United States), Omron Healthcare, Inc. (United States), Philips Healthcare (Netherlands), Smiths Medical (United States), B.Braun Melsungen (Germany), Kindred Healthcare (United States) and Linde Group (Germany) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research coverage are A&D (Japan), Amedisys (US), Fresenius (Germany), Almost Family Inc. (United States) and LHC Group (United States).
Segmentation Overview
AMA Research has segmented the market of Global Home Healthcare market by and Region.
On the basis of geography, the market of Home 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). If we see Market by Telehealth Solution, the sub-segment i.e. Home Telehealth Services will boost the Home Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Services, the sub-segment i.e. Skilled Nursing Services will boost the Home Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Product, the sub-segment i.e. Testing, Screening, & Monitoring Products will boost the Home Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Software, the sub-segment i.e. Clinical Management Systems will boost the Home Healthcare market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Rapid Acceleration in the Manufacturing for a Wide Range of Test-Kits for COVID – 19 Including Antibody Tests, Self-Administered, and Others
Market Growth Drivers:
Increasing Occurrence of Chronic Diseases, Technological Advancements in Services, Rising Healthcare Costs and the Increasing Requirement for Affordable Treatment Options and Rising Government Funding to Promote Home Healthcare
Challenges:
Lack of Home Care Workers
Restraints:
Fluctuation in Reimbursement Policies and Inadequate Insurance Coverage
Opportunities:
Growing Focus on Telehealth and Unexploited Developing Regions
Market Leaders and their expansionary development strategies
July 2023: A home healthcare company partners with a major health insurer to offer remote patient monitoring services to the insurer's Medicare Advantage beneficiaries
February 2023: A company launches a new smart pill dispenser that helps patients with medication adherence
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analyst and Strategic Business Planners, Home Healthcare Products Manufacturers, Suppliers, and Distributors, Raw Materials Suppliers, Government Regulatory and Research Organizations and End-Use Industries
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.