COVID-19: Home Healthcare Market-Rising Focus on Telehealth and Trend in the developed Regions of North America and Europe

Home Healthcare Market

Pune, India, 2020-Aug-04 — /EPR Network/ — According to the new market research report “ Home Healthcare Market by Product (BP & Heart Rate Monitor, Ovulation Kit, HIV Test, ECG, Nebulizer, Hearing Aids, Pedometer, Cane, Crutches, Wheelchair), Software, Services (Rehabilitation, Pregnancy, Palliative), & Telehealth – Global Forecast to 2022“, published by MarketsandMarkets™, analyzes and studies the major market drivers, restraints/challenges, and opportunities.

The global home healthcare market is expected to reach USD 364.69 Billion by 2022 from USD 220.67 Billion in 2016, at a CAGR of 8.8%. The base year considered for the study is 2016 and the forecast period is from 2017 to 2022.

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The growth of this market is mainly driven by the growing geriatric population; increasing incidence of chronic diseases; and rising demand for affordable healthcare delivery systems due to increasing healthcare cost, technological advancements, and government initiatives to promote home healthcare. This report segments the home healthcare market into product, service, software, telehealth solutions, and region.

Based on product, the market is segmented into testing, screening, & monitoring products; therapeutic products; and mobility care equipment. The mobility care segment is slated to register the highest CAGR during the forecast period due to the growing geriatric population, ease of use, rising demand for personal independence, and social connectedness. These devices also offer personal security and safety. This report segments the home healthcare market into product, service, software, telehealth solutions, and region.

Based on product, the market is segmented into testing, screening, & monitoring products; therapeutic products; and mobility care equipment. The mobility care segment is slated to register the highest CAGR during the forecast period due to the growing geriatric population, ease of use, rising demand for personal independence, and social connectedness. These devices also offer personal security and safety.

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In 2017, North America is expected to dominate the market followed by Europe. The large share of this geographical segment is attributed to factors such as converging trends of aging population, technological advancement, and rising incidence of chronic diseases.Asia is expected to grow at the highest CAGR during the forecast period. Factors such as rising geriatric population, increasing adoption of innovative techniques, increasing disposable income, expansion of home healthcare companies in this region, rising awareness of home healthcare, and increasing need for affordable healthcare delivery systems are expected to drive the growth of this market in Asia.

Key Players:
Prominent players in the home healthcare market include Philips Healthcare (Netherlands), Kindred Healthcare (US), Linde Group (Germany), Almost Family Inc. (US), Abbott Laboratories (US), LHC Group (US), A&D (Japan), Amedisys (US), Fresenius (Germany), Omron (Japan), McKesson (US), BAYADA Home Health Care (US), Kinnser Software, Inc. (US), and Roche (Switzerland).

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