Home Healthcare Services Market Intelligence Report Offers Insights on Growth Prospects 2021–2027

Stratview Research has published a new report titled “Home Healthcare Services Market” which is segmented 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).

As per the study, 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. 

The services provided by the home healthcare providers are more beneficial than the services provided in nursing care facilities, hospitals and other living facilities. The benefits offered by them are - customized and specialized care services, assistance to seniors in using connected healthcare services and reduction in the cost of care by reducing hospital stays. Such benefits along with tremendous growth in connected healthcare service market is creating a high demand and growth in the global home healthcare services market.

Report Highlights

This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the market dynamics of the industry. It provides thorough analysis of the market segments which include products, applications, and competitor analysis.

The market is bifurcated into various segments. Below given is the segment-wise 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.

Which Region is expected to remain the largest market?

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.

Who are the Key Players in the Market?

This report provides market intelligence in the most comprehensive way. It also provides critical insights into the key players active in the market, that will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key players activen 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.

Key questions answered by the report

• What is the projected CAGR for revenue from the Home Healthcare Services Market during the forecast period?
• What would be the market be valued at by 2027?
• What is a major driving factor for growth of the market?
• Which region accounted for largest revenue share in the Home Healthcare Services Market?
• Which are the major market players?

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Stratview Research is a global market research firm, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with insightful market data to aid strategic decision making. These exclusive reports are the result of exclusive research methodology and are available for key industries such as chemicals, composites, advanced materials, technology, renewable energy, and more.

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