Market Overview
The Global Home Healthcare Market is expected to reach a value of
USD 414.4 billion in 2023, and it is further anticipated to reach a value of
USD 879.5 billion by 2032 at a
CAGR of 19.3%. The market has seen a significant increase in the recent past and is predicted to grow significantly during the forecasted period as well.
The Global Home Healthcare market refers to the industry that provides medical and non-medical services, treatments and support to the patients at their home. This market provides access to healthcare services while allowing patients to remain in their comfortable and familiar domestic environment. Home healthcare services offer various services like skilled nursing care, physical therapy, speech therapy & assistance with everyday life to patients who are suffering from acute and chronic medical conditions, physical or mental disabilities and elderly people who require assistance in their everyday lives. The demand for home healthcare facilities and products has seen significant growth in the last few decades, due to the rising ageing population, cost-effectiveness and advancements in healthcare technologies.
Market Dynamic
The Global Home Healthcare Market exhibited dynamic trends that significantly drive the growth of this market. The demand for home healthcare services for older individuals is increasing as it is directly influenced by the growth of the ageing population globally. Elderly patients often require medical care and assistance in their everyday activities. Many patients prefer home healthcare facilities and services than institutional care because they are more comfortable in their familiar environment and it is cheaper than in institutional care facilities. The home healthcare facilities offer various facilities that can be monitored remotely, this feature extensively expands the growth potential of home-based healthcare services.
The demand for home healthcare facilities and services is mainly driven by the rising demand for tailored treatment plans according to individual patients. Personalized healthcare involves creating treatment plans specific to each patient, considering factors such as genetics, lifestyle, & the environment they are living in. As this market is growing, many regulations and safety standards for manufacturers in this market have been imposed. The licensing requirement for production in different countries has different requirements which makes the implantation of such services difficult in less period. The shortage of skilled healthcare professionals globally has limited the availability of regular healthcare services. That’s why home healthcare services will be its best alternative to this problem as the healthcare professionals will be able to monitor and give consultations to various patients at the same time remotely.
Research Scope and Analysis
By Component
In this segment, Services dominates the global home healthcare market as it holds 76.5% of the market share in 2023 and is anticipated to show subsequent growth in the upcoming period. Services dominate this market as it is mainly focused on providing healthcare services to the patient at their houses. Home healthcare services provide rehabilitation, respiratory therapy & infusion therapy which are specifically designed according to the requirements of the patient's specific needs. Many patients who are suffering from chronic and rare disease require consultation and expertise of a specialist in that field, and such services are provided at doorsteps which make this market more prominent.
Moreover, these homecare services are also used in post-acute care, helping patients recover from surgeries, injuries and serious illness. These services also offer in-house rehabilitation, respiratory and infusion therapy. So, in other words, the dominance of home care services in this global market includes specialized deliveries such as patient-centered care that addresses the different healthcare requirements of the patients at their homes.
By Indication
Based on Indication, Neurological and Mental Disorders dominates the home healthcare market as it holds 25.3% of the market share in 2023 and is expected to show subsequent growth in the upcoming. Neurological and Mental disorders dominate this segment as they consist of a wide range of health conditions like Alzheimer's disease, Parkinson's Disease and various mental health issues that are affecting a substantial portion of the global population. The whispered occurrence of these disorders has significantly boosted the demand for home healthcare services.
Many neurological and mental conditions require long-term care, monitoring and professional support. These patients benefit from the home healthcare system where they can receive essential services like medications, proper monitoring, consultation and therapy at their home which will also help in their fast recovery as they will be in their familiar environment, as patients surrounding environment is also a major factor that contributes to the emotional well-being and stability of the patients.
The Home Healthcare Market Report is segmented on the basis of the following:
By Component
- Services
- Rehabilitation Services
- Respiratory Therapy Services
- Infusion Therapy Services
- Others
- Equipment
- Therapeutic
- Home Respiratory Therapy Equipment
- Insulin Delivery Services
- Home IV Pumps
- Home Dialysis Equipment
- Others
- Diagnostic
- Diabetic Care Unit
- BP Monitors
- Home pregnancy and Fertility Kits
- Apnea and Sleep Monitors
- Holter Monitors
- Others
- Mobility Care
- Wheel Chair
- Home Medical Furniture
- Walking Assist Devices
- Software
By Indication
- Neurological & Mental Disorders
- Cardiovascular Disorder & Hypertension
- Diabetes & Kidney Disorders
- Respiratory Diseases & COPD
- Mobility Disorders
- Cancer
- Others
Regional Analysis
North America dominates this market as it holds the highest market share of 44.0% in 2023 and is showing significant growth prospects for the upcoming years. The reason behind this region's dominance can be attributed to its growing ageing population, which is higher than any other region, as older people often require more home healthcare services. Another reason for this region's growth is the presence of a high-tech ecosystem for research institutions,
pharmaceutical companies and healthcare facilities, that accelerates the research and development activities in this region.
This region is also home to many world-renowned research institutions and universities like Johan Hopkins University, Harvard University and others which are pioneers in the research field and is contributing to the growth of this market. This region has a relatively higher healthcare per capita expenditure, enabling greater access and utilization of home healthcare services. This region also has specifically established healthcare regulations and reimbursement systems that support and facilitate home healthcare, making it more accessible and affordable for patients.
By Region
North America
Europe
- Germany
- The U.K.
- France
- Italy
- Russia
- Spain
- Benelux
- Nordic
- Rest of Europe
Asia-Pacific
- China
- Japan
- South Korea
- India
- ANZ
- ASEAN
- Rest of Asia-Pacific
Latin America
- Brazil
- Mexico
- Argentina
- Colombia
- Rest of Latin America
Middle East & Africa
- Saudi Arabia
- UAE
- South Africa
- Israel
- Egypt
- Rest of MEA
Competitive Landscape
The competitive landscape of the Global Home Healthcare Market is characterized by the actions of multinational corporations, regional players, and startups. These companies are competing with each other to gain a competitive edge in this market. The growth of this market is mainly driven by the growing demand for basic healthcare services at home. The industry leaders in this market provide a wide variety of home healthcare services, such as skilled nursing, therapy and personal care. Some companies specialize in providing special care to rare disease patients like Amedisys and Kindred Healthcare.
Continuous research and development efforts are vital in this industry. Some of these companies are involved in the manufacturing of medical devices and equipment used in home healthcare like oximeters, BP Machines and mobility aids providing a new growth prospect to this market. Nowadays, the collaboration between home healthcare equipment manufacturing companies, research centres, and universities is getting more frequent, as they collaborate to improve an existing product or develop a completely new product catalogue.
In general, more competition between these companies leads to the development of a better product catalogue, but it also creates challenges for the companies that are trying to find their place in this market. Key players in the Global Home Healthcare Market are 3M Healthcare, Amedisys Home Health and Hospice Care, Amwell, Apple Inc., Arkray Inc., Becton Dickinson and Company, F. Hoffmann-La Roche Ag, Fresenius SE and Co KGaA, Hollister Inc. and others.
Some of the prominent players in the Global Home Healthcare Market are:
- 3M Healthcare
- Amedisys Home Health and Hospice Care
- Amwell
- Apple Inc.
- Arkray Inc.
- Becton Dickinson and Company
- F. Hoffmann-La Roche Ag
- Genesis Healthcare
- Atria Inc.
- Fresenius SE and Co KGaA
- Hollister Inc.
- Other Key Players
COVID-19 Pandemic & Recession: Impact on the Global Home Healthcare Market:
The COVID-19 pandemic and the following economic recession had a significant effect on various industries, including the Global Home Healthcare Market. The pandemic led to a surge in the demand for home healthcare services patients, especially those who are suffering from chronic illness, were advised to avoid hospitals and healthcare facilities during a pandemic to reduce their chances of being exposed to the virus. During the pandemic, this market saw a shift in consumer preferences because consumers started giving importance to their health and well-being.
This trend led to an increased demand for medical services at their home which expanded the growth prospect of this market. To minimize in-person interactions, healthcare providers rapidly adopted telehealth and remote monitoring systems as they played a crucial role in delivering aids, and consultations and monitoring patient conditions remotely.
Report Details
| Report Characteristics |
| Market Size (2023) |
USD 414.4 Bn |
| Forecast Value (2032) |
USD 879.5 Bn |
| CAGR (2023-2032) |
8.7% |
| Historical Data |
2017 - 2022 |
| Forecast Data |
2023 - 2032 |
| Base Year |
2022 |
| Estimate Year |
2023 |
| Report Coverage |
Market Revenue Estimation, Market Dynamics, Competitive Landscape, Growth Factors and etc. |
| Segments Covered |
By Component (Services, Equipment and Software), By Indication (Neurological & Mental Disorders, Cardiovascular Disorder & Hypertension, Diabetes & Kidney Disorders, Respiratory Diseases & COPD, Mobility Disorders, Cancer and Others) |
| Regional Coverage |
North America – The US and Canada; Europe – Germany, The UK, France, Russia, Spain, Italy, Benelux, Nordic, & Rest of Europe; Asia- Pacific– China, Japan, South Korea, India, ANZ, ASEAN, Rest of APAC; Latin America – Brazil, Mexico, Argentina, Colombia, Rest of Latin America; Middle East & Africa – Saudi Arabia, UAE, South Africa, Turkey, Egypt, Israel, & Rest of MEA |
| Prominent Players |
3M Healthcare, Amedisys Home Health and Hospice Care, Amwell, Apple Inc., Arkray Inc., Becton Dickinson and Company, F. Hoffmann-La Roche Ag, Atria Inc., Fresenius SE and Co KGaA, Hollister Inc. and Other Key Players |
| Purchase Options |
We have three licenses to opt for: Single User License (Limited to 1 user), Multi-User License (Up to 5 Users), and Corporate Use License (Unlimited User) along with free report customization equivalent to 0 analyst working days, 3 analysts working days and 5 analysts working days respectively. |
Frequently Asked Questions
The Global Home Healthcare Market is expected to reach a market value of USD 414.4 billion in 2024.
The Global Home Healthcare market refers to the industry that provides medical and non-medical services, treatments and support to the patients at their home.
North America dominates this market as it holds the highest market share of 44.0% in 2024 and is showing significant growth prospects for the upcoming years.
Key players in the Global Home Healthcare Market are 3M Healthcare, Amedisys Home Health and Hospice Care, Amwell, Apple Inc., Arkray Inc., Becton Dickinson and Company, F. Hoffmann-La Roche Ag, Fresenius SE and Co KGaA, Hollister Inc. and others.