DUBLIN, January 5, 2022 / PRNewswire / – The “Home Health Services Market – Forecasts 2021 to 2026” the report was added to ResearchAndMarkets.com‘s offer.
The global home health services market is valued at 275.945 billion US dollars for the year 2019 with a CAGR of 8.01% reaching the market size of US $ 473.321 billion by 2026.
Home care services allow people to stay at home rather than using institutional health care services. The growing incidence of chronic disease around the world due to unhealthy lifestyle and diets is the major driver of the global home health services market.
Patients with chronic conditions such as diabetes, cancer, arthritis, and COPD (chronic obstructive pulmonary disease) require long-term treatment. With the cost of hospital visits and stays increasing at a rapid rate, more and more people are opting for home care services.
In addition, a key factor responsible for the growth in demand for these services is the sharp increase in the elderly population across the world. This has resulted in increased use of these home health care services. For example, according to United Nations data on the World Population Prospects for 2019, the number of people over 65 would increase from 9% in 2019 to more than 16% of the total world population by 2050.
As the elderly demand more patient-centered healthcare services, this continued increase in the aging population is expected to drive the growth of the home healthcare services market throughout the forecast period. Many countries still have an underdeveloped health care infrastructure that is unable to support better inpatient health services. It also contributes to the increased demand for home health care services.
Increasing the volume of target patient pool leads to higher demand for the market fueling the growth of the global home healthcare market during the forecast period.
The advent of COVID-19 has positively impacted the global home health services market. The recent global outbreak of COVID-19 has caused a sudden increase in demand for home health care services.
Since this virus outbreak has already strained healthcare resources around the world, causing a shortage of many types of medical equipment, providing hospital care at home can reduce the risk of coronavirus transmission, by especially for vulnerable patients (elderly and people with serious medical conditions) while preventing emergency room visits and saving resources for COVID-19 patients. Global home health service providers are constantly expanding their customer base with the adoption of various growth strategies.
Additionally, many startups, as well as global hospital chains such as Apollo, are entering this lucrative market, further accelerating the growth of the home health services market globally.
The North American region is expected to hold a significant share of the market during the forecast period
North America held a significant market share in 2019 and is expected to remain in its place until the end of the forecast period. The increasing prevalence of chronic diseases such as diabetes and cardiovascular disease is driving the demand for home care services.
For example, according to the report released by the World Obesity Federation (WOF), more than 10 million adults in Canada are expected to be living with obesity eight years from 2018. The percentage of obese people in the country fell from 23.5% in 2008 to 27% in 2017.
In addition, the cost of treating diseases, including diabetes, caused by obesity will be 207 billion US dollars between 2017 and 2025 in the country. The rapid growth of the geriatric population in North American countries is also increasing the demand for various home health care services. For example, according to data from the World Bank Group, United States the population aged 65 and over increased from 40,156,009 in 2010 to 51,717,496 in 2018.
In addition to the above-mentioned factors, other factors such as high disposable income, constantly increasing healthcare costs and the presence of large home healthcare service providers in these countries will continue to fuel the market growth. North American home health care services during the forecast period. period.
Main topics covered:
2. Research methodology
3. Executive summary
3.1. Research Highlights
4. Market dynamics
4.1. Market factors
4.2. Market constraints
4.3. Porters Five Forces Analysis
4.4. Industry value chain analysis
5. Home health services market analysis, by type of service
5.2. Medical care
5.3. Doctor / Primary care
5.4. Hospice and palliative care
5.5. Physical therapy
5.6. Nutritional support
6. Home Health Services Market Analysis, By Geography
6.2. North America
6.2.1. United States
6.3. South America
6.5. Middle East and Africa
6.5.1. Saudi Arabia
6.5.2. United Arab Emirates
6.6. Asia Pacific
6.6.4. South Korea
7. Competitive environment and analysis
7.1. Analysis of major players and strategy
7.2. Emerging players and market profitability
7.3. Mergers, acquisitions, agreements and collaborations
7.4. Supplier competitiveness matrix
8. Company profiles
8.1. BAYADA home care
8.2. HOME Health Care
8.3. Interim Health Care Inc.
8.4. Koninklijke Philips NV
8.5. Genesis Healthcare
8.6. HEALTH AT HOME VHA
8.7. Home Health Care Ltd.
8.10. LHC Group, Inc
For more information on this report, visit https://www.researchandmarkets.com/r/j92zjb
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SOURCE Research and Markets