industry project

Market Study on Expected Growth for Home Healthcare Market

Press Release   •   Jan 09, 2018 05:35 EST

Home healthcare is a wide range of medical solutions, products and services, which provide health monitoring, treatment and regular support to patients at home. Home healthcare is generally less expensive, more convenient and as effective as care you receive in a hospital or nursing home. Primary factors driving this market include rise in base of geriatric population, increasing number of patients with chronic diseases, growing awareness about home health among the population, growing demand for affordable healthcare treatments, pressure to reduce the healthcare treatments costs, technological innovations, and government support to promote home healthcare. In addition, increasing acceptance of home healthcare as a cost effective alternative solution to traditional treatments and growing number of workforce related to these services increasing the demand for home healthcare services. Moreover, the construction and maintenance of hospitals are capital intensive in nature and incur large investments in terms of capital and operational expenses. Therefore, healthcare providers strategically with the help of mergers and acquisitions are now entering the rapidly growing home healthcare market in an effort to exploit on the available prospects in this market. The global market for home healthcare is expected to reach around USD 400 billion by 2022, growing at a CAGR of 9.8% during the forecast period of 2016 to 2022.

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Geographically, North America is leading contributor to the market and is expected to retain its position during the forecast period. Nonetheless, the market for Asia-Pacific region is expected to grow at a faster rate owing to increasing prevalence chronic diseases, growing awareness among the population, increasing adoption of new technologies, large number of new players entering into the market, improving healthcare infrastructure, rise in healthcare spending, and favorable government policies.

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Companies profiled:

  • Philips Healthcare
  • Almost Family Inc.
  • Abbott Laboratories
  • Braun Melsungen AG
  • Johnson & Johnson
  • Becton
  • Dickinson and Company
  • Cardinal Health Inc.
  • Fresenius SE & Co. KGaA
  • Omron Healthcare
  • McKesson Corporation
  • Roche Holdings AG.

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