According to study, “Global Home Healthcare Market Size study, by Product (testing, screening, & monitoring products, therapeutic product and home healthcare mobility care products) Services (skilled nursing services, rehabilitation therapy services, hospice and palliative care services, unskilled Care Services, respiratory therapy services, infusion therapy services and pregnancy care services) Software (agency software, clinical management systems and hospice solutions), Type of telehealth solution (home telehealth software, home telehealth services and home telehealth monitoring devices)and Regional Forecasts 2018-2025” the key companies operating in the global home healthcare market areBayada Home Health Care, A&D Company, GE Healthcare, Abbott Laboratories, Almost Family, Linde Group, Omron, Kinnser Software, Fresenius, Kindred Healthcare, Mckesson, Amedisys, Roche, Philips, LHC Group.
Home healthcare is definite as rendering predominantly medically-related services to patients in a house setting rather than in a medical facility. It includes skilled nursing in addition to occupational, speech, and physical therapy. It costs less than the treatment of nursing homes and hospitals.
The key benefits are included supports activities of daily living (ADLs), support with diet & nutrition, provide caring companionship, medication management and helps with light household chores etc.
Based on product type, home healthcare market is segmented into therapeutic products, testing, screening & monitoring products and home healthcare mobility care products. Therapeutic products include oxygen delivery systems, sleep apnea therapeutic devices, nebulizers, insulin delivery devices, ventilators, inhalers, wound care products, dialysis equipment, IV equipment and other therapeutic products (automated external defibrillators, ostomy devices, and external stimulation devices). Testing, screening & monitoring products include blood glucose monitors, pulse oximeters, blood pressure monitors, fetal monitoring devices, peak flow meters, heart rate monitors, ovulation & pregnancy test kits, HIV test kits, coagulation monitors, cholesterol monitoring devices, sleep apnea monitors, electrocardiogram (ECG) devices, temperature monitors, electroencephalogram (EEG) devices, pedometers, hearing aids, home hemoglobin A1c test kits, holter & event monitors, drug & alcohol test kits and colon cancer test kits. Additionally, home healthcare mobility care products include canes, walkers & rollators, crutches, wheelchairs and mobility scooters. Based on services, market is segmented into rehabilitation therapy services, skilled nursing services, hospice & palliative care services, respiratory therapy services, infusion therapy services, unskilled care services, and pregnancy care services. Based on software, market is segmented into clinical management systems, agency software, and hospice solutions. In addition, based on type of telehealth solution, market is segmented into home telehealth services, home telehealth services and home telehealth monitoring devices.
The home healthcare market is driven by rise in healthcare costs, followed by growth in need for affordable treatment options, increase in geriatric population, rise in technological advancements, increase in incidence of chronic diseases and rise in government initiatives to promote home healthcare. However, limited insurance coverage, change in reimbursement policies and rise in patient safety concerns may impact the market. Moreover, rise in untapped developing regions and increase in focus on telehealth are key opportunities for market.
Based on geography, the North-American region dominates the home healthcare market owing to rise in healthcare expenditure and well-established medical infrastructure in the region. The Asian-Pacific and European regions are anticipated to witness higher growth rate due to rise in government efforts to improve healthcare infrastructure & unmet medical needs in emerging economies over the forecast period.In near future, it is estimated that the market will be reached at rapid pace as a result of rise in need of delivery-based healthcare during the forecast period. It is predicted that the market will be reached at US $469.3 billion by 2025.
For more information on the research report, refer to below link:-
Global Home Healthcare Market
Ankur Gupta, Head Marketing & Communications