A comprehensive overview of the home healthcare market is recently added by UnivDatos Market Insights to its humongous database. The home healthcare report has been aggregated by collecting informative data on various dynamics such as market drivers, restraints, and opportunities. This innovative report makes use of several analyses to get a closer outlook on the home healthcare market. The home healthcare report offers a detailed analysis of the latest industry developments and trending factors in the market that are influencing the market growth. Furthermore, this statistical market research repository examines and estimates home healthcare at the global and regional levels. The home healthcare Market is expected to grow at a CAGR of ~10% from 2021-to 2027.
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Market OverviewHome healthcare includes skilled nursing care, as well as other skilled care services, like physical and occupational therapy, speech-language therapy, and medical social services. These services are given by a variety of skilled health care professionals at home. The need for home healthcare has grown for many reasons such as medical science and technology have improved, many treatments that could once be done only in a hospital can now be done at home. Also, home healthcare is usually less expensive and can often be just as effective as care in a hospital or skilled nursing facility. And just as important, most patients and their families prefer to stay at home rather than be in a hospital or a nursing home.
Growth in the aging population coupled with the prevalence of numerous diseases is contributing to the growth of the market. Every country in the world is experiencing growth in the size and proportion of older persons in their population. In 2019, there were 703 million persons aged 65 years or over in the world. Further, the number of older persons is projected to double to 1.5 billion by 2050. Globally, the share of the population aged 65 years or over increased from 6 percent in 1990 to 9% in 2019. That proportion is projected to rise further to 16% by 2050 so that 1 in 6 people in the world will be aged 65 years or over.
COVID-19 ImpactThe COVID-19 pandemic positively impacted the home healthcare market. Lack of hospital beds during the peak of the pandemic, as well as reluctance on the part of patients themselves to visit hospitals for fear of contracting COVID-19, coupled with the government’s strict stay-at-home orders and the boom in virtual technology and telemedicine, have shifted the home healthcare sector into a higher gear, making it capable of offering more complex treatment from the comfort of the patient’s home.
Also, the demand for the home healthcare monitoring products such as blood glucose monitors, blood pressure monitors, pulse oximeters, and temperature monitors. Furthermore, numerous home healthcare agencies and providers have reported a decline in the business. However, this downturn in the home healthcare industry is predicted to be for a while, as the business will pick up at a faster pace in the coming future as more people are recovering from COVID-19.
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The home healthcare market report is studied thoroughly with several aspects that would help stakeholders in making their decisions more curated.
By service, the market is primarily bifurcated into• Skilled Nursing Services• Rehabilitation Services• Pregnancy Care Services• OthersThe skilled nursing segment grabbed major market share and dominated the market in 2020. More than 70% of people getting admitted to nursing facilities are women. Almost two-thirds of the paid home care users and unpaid care recipients are women. However, the rehabilitation sector is ex[ecetd to grow at a considerable CAGR during the forthcoming years
By indication, the market is primarily bifurcated into• Cardiovascular Disorders & Hypertension• Diabetes• Respiratory Diseases• Pregnancy• Mobility Disorders• Hearing Disorders• Wound Care• OthersThe diabetes segment grabbed X% market share in 2020. Rising obesity and sedentary lifestyle are leading to the growing prevalence of diabetes.m The International Diabetes Federation (IDF) has released new figures showing that 537 million adults are now living with diabetes worldwide in 2020, a rise of 16% (74 million) since the previous IDF estimates in 2019.
Home Healthcare Market Geographical Segmentation Includes:• North America• Europe• Asia-Pacific• Rest of the WorldBased on the estimation, the North America region grabbed X% market share in 2020. The surging prevalence of diseases, emerging healthcare costs, and growing popularity of telehealth are contributing to the growing market of home healthcare is also rising. However, the Asia-Pacific region would witness considerable growth in the forthcoming years.
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The major players targeting the market include• 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
The degree of competition among prominent regional companies has been elaborated by analyzing several leading key players operating worldwide. The specialist team of research analysts sheds light on various traits such as global market competition, market share, most recent industry advancements, innovative product launches, partnerships, mergers, or acquisitions by leading companies in the home healthcare market. The leading players have been analyzed by using research methodologies for getting insight views on global competition.
Key questions resolved through this analytical market research report include:• What are the latest trends, new patterns, and technological advancements in the home healthcare market?• Which factors are influencing the Home Healthcare market over the forecast period?• What are the global challenges, threats, and risks in the home healthcare market?• Which factors are propelling and restraining the home healthcare market?• What are the demanding global regions of the home healthcare market?• What will be the global market size in the upcoming years?• What are the crucial market acquisition strategies and policies applied by global companies?
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