Stratview Research has launched a new report, titled Home Healthcare Services Market: By Service Type (Medical Care, Non-Medical Care, and Combination), By Application (Therapeutic, Diagnostic & Monitoring, and Others), By Region (North America, Europe, Asia-Pacific and ROW)
Covid-19 Impact Analysis:
Covid-19 has highly impacted the market dynamics, competition, and supply chain of almost all industries. The revenues have gone down in 2020 and are expected to resume an uptrend gradually from 2021 and continue to grow further. The report covers all the segments that were affected by the pandemic.
According to the report, the global home healthcare services market is likely to witness an impressive CAGR of 8.2% during the forecast period. Factors such as growing global geriatric population along with rising interest of older people to live independently at their own homes, increasing cases of chronic diseases and reducing mobility among seniors which is increasing the need of specialized care services for them, are bolstering the growth of the market.
Market Segments' Analysis
Based on the service type, the home healthcare service market is broadly classified as medical care, non-medical care and both medical and non-medical care in combination. The medical care services which can be defined as the services related to health and medical condition of the patient or client, majorly include skilled nursing services, physical therapy, speech therapy, infusion therapy, psychiatric care, medication management, and assistance in rehabilitations. Whereas, non-medical services majorly include preparing meals, housekeeping, and assisting clients in doing other daily activities. The client who requires both medical care and non-medical care services are included under the third segment which is the combination of both.
By identifying the type of services required by the clients, the home healthcare services market is segmented on the basis of nature of application of services as therapeutic services, diagnostic & monitoring services, and others. The therapeutic segment led the market in 2018.
In terms of regions, the North America remained dominant in the home healthcare services market in 2018. The USA is the largest market for home healthcare services. The country’s position in the market is attributed to the high growth of geriatric population owing to the highest proportion of citizens belonging to baby boomer’s generation along with rising demand among seniors to live at their homes. Changing healthcare policies in the USA such as inclusion of non-skilled in-home care in Medicare Advantage program from 2019 is rejuvenating the market for home health care services in the USA. The significant advantages of the home healthcare service such as reduction in cost of hospital bills, are driving high growth in the market in the European region as well.
The following are the key players in the Home Healthcare Services Market.
· Amedisys, Inc.
· American Homepatient
· ATC Healthcare Inc.
· Chemed Corporation
· CVS Health Corporation
· LHC Group, Inc.
· Kindred Healthcare
· Koninklijke Philips N.V
· The Blackstone Group L.P.
Frequently Asked Questions –
This report provides vital information and valuable insights, enabling the users to identify the strategic growth opportunities in the market. The report aims at answering the following key questions:
- What is the current and future market size of Home Healthcare Services Market?
- How has the COVID-19 pandemic impacted the market? How fast is it expected to recover?
- What will be the short and long-term effects of the pandemic?
- How are other market factors affecting the market dynamics?
- Which segments offer high-growth opportunities in the long run?
- How fierce is the Home Healthcare Services Market competition?
- What are the key emerging trends and unmet needs in the present market?
- What are the strategic growth opportunities and key success factors?
Read the full report:
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