Home Healthcare Market to Reach USD 680.35 Billion by 2027, Registering 11.6% Growth Rate, Reveals Report
Reports And Data
The global Home Healthcare Market is forecasted to grow at a rate of 11.6% from USD 280.76 Billion in 2019 to USD 680.35 Billion in 2027.
NEW YORK CITY, NY, UNITED STATES, July 3, 2023/EINPresswire.com/ -- The global Home Healthcare Market is projected to experience a growth rate of 11.6%, with its value expected to increase from USD 280.76 Billion in 2019 to USD 680.35 Billion in 2027. This growth is attributed to several factors, including the rising adoption of telehealth systems, the high cost of hospital beds, limited access to ambulance services in rural or remote areas, the availability of skilled nursing care at home, and the overall preference for home healthcare compared to hospital stays. Additionally, the increasing elderly population, pediatric deformities, the prevalence of chronic diseases, and the rising occurrence of new pandemics globally contribute to the growing demand for home healthcare services.
The gradual realization of home-based healthcare systems is made possible by advancements in information technology and the implementation of telehealth systems. Key service providers offer notable solutions such as smart bedding systems, remote or centralized control systems, advanced health monitoring sensors, and other futuristic technologies.
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Moreover, ambulatory care hospitals are gaining popularity as they allow patients to be discharged after surgery and receive necessary medication and treatments at home. This approach is favored due to its significantly lower expenses.
Segments Covered in the Report –
Product Outlook -
• Homecare Diagnostic
• Therapeutics
• Mobility Care
Software Outlook -
• Agency Software
• Clinical Management Systems
• Hospice Solutions
Services Outlook -
• Rehabilitation
• Infusion Therapy
• Unskilled Care
• Respiratory Therapy
• Pregnancy Care
• Skilled Nursing
• Telemetry
• Hospice & Palliative Care
Purposes Outlook -
• Chronic Diseases
• Infectious Diseases
• Psychological Diseases
• Geriatric Diseases
• Pediatric Diseases
• Fertility Treatments & Pregnancy
• Intensive & Critical Care
• Injuries & Accidental Deformity
• Nutrition & General Consultancy
• Others
Types Outlook -
• Home Healthcare Monitoring
• Home Healthcare Services
• Home Healthcare Software Solutions
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Strategic development:
At CES 2020, Philips announced the expansion of its consumer-focused digital health solutions, aiming to shape the consumer healthcare industry. In January 2020, they introduced a range of personalized consumer health solutions. As part of this expansion, Philips collaborated with Delta Dental of California in the United States to enhance oral care outcomes. Additionally, they introduced Baby+ to provide support for new parents and unveiled the SmartSleep suite of solutions.
Competitive Landscape:
• The report highlights several major manufacturers in the healthcare industry. McKesson Medical-Surgical Inc., Medline Industries, Inc., 3M Healthcare, Brookdale Senior Living, Inc., Home Health Services Ltd., Genesis Healthcare Corp., Home Instead Senior Care, Inc., Care UK Limited, Becton, Dickinson And Company, ConvaTec Group PLC, and Extendicare, Inc. are among the prominent companies profiled in the report.
• These manufacturers play a significant role in the healthcare sector and have established themselves as key players in the market. They are involved in the production and distribution of various healthcare products and services.
• McKesson Medical-Surgical Inc. and Medline Industries, Inc. are renowned for their extensive range of medical supplies and equipment. They cater to the needs of hospitals, clinics, and other healthcare facilities.
• 3M Healthcare is a well-known company that specializes in providing innovative solutions for healthcare professionals, including products for infection prevention, wound care, and surgical supplies.
• Brookdale Senior Living, Inc. and Home Instead Senior Care, Inc. focus on providing specialized care and support services for seniors, including assisted living, memory care, and home care.
• Care UK Limited is a prominent healthcare service provider in the United Kingdom, offering a wide range of healthcare services, including primary care, urgent care, and diagnostic services.
• Becton, Dickinson And Company and ConvaTec Group PLC are recognized for their contributions to the medical technology industry. They develop and manufacture advanced medical devices and technologies used in various healthcare settings.
• Genesis Healthcare Corp. and Extendicare, Inc. are major providers of post-acute care and long-term care services. They operate skilled nursing facilities, rehabilitation centers, and assisted living communities.
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These manufacturers play a vital role in driving innovation, delivering high-quality healthcare products and services, and shaping the healthcare industry as a whole.
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