DUBLIN, January 5, 2022 /PRNewswire/ — The “Home Healthcare Services Market – Forecast 2021 to 2026” report has been added to from ResearchAndMarkets.com offer.
The Global Home Healthcare Services Market is valued at US$275.945 billion for the year 2019 growing at a CAGR of 8.01% reaching the market size of US$473.321 billion by 2026.
Home care services allow people to stay in their homes rather than using institutional health care services. The increasing incidence of chronic diseases worldwide due to unhealthy lifestyle and diets is the major driver of the global home healthcare services market.
Patients with chronic diseases such as diabetes, cancer, arthritis and COPD (chronic obstructive pulmonary disease) require long-term treatment. With the cost of hospital visits and stays rising at a rapid rate, people are increasingly opting for home care services.
Furthermore, a key factor responsible for the growth in demand for these services is the sharp increase in the elderly population across the globe. This has resulted in increased use of these home health care services. For example, according to data from the United Nations World Population Prospects for 2019, the number of people over the age of 65 would increase from 9% in 2019 to more than 16% of the total world population by 2050.
Since the elderly are demanding more patient-centric 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 underdeveloped healthcare infrastructures that are unable to support better inpatient healthcare services. This also contributes to the growing demand for home care services.
The increase in the volume of the target patient pool leads to higher demand for the market, fueling the growth of the global home healthcare market over the forecast period
The advent of COVID-19 has had a positive impact on the global home healthcare services market. The recent global outbreak of COVID-19 has caused a sudden surge in demand for home health care services.
Since this virus outbreak has already caused enormous pressure on healthcare resources around the world, leading to shortages of many types of medical equipment, providing hospital care at home can reduce the risk of coronavirus transmission, especially for vulnerable patients (elderly and people with serious medical conditions) while avoiding emergency room visits and saving resources for COVID-19 patients. Global home healthcare service providers are constantly expanding their customer base through the adoption of various growth strategies.
Moreover, many startups, as well as global hospital chains such as Apollo, are entering this lucrative market, thereby driving the growth of the home healthcare services market globally.
The North American region is expected to hold a major share of the market during the forecast period
North America held a large market share in 2019 and is expected to remain in its position till the end of the forecast period. The growing prevalence of chronic diseases such as diabetes and cardiovascular disease is driving the demand for home care services.
For example, according to the report published by the World Obesity Federation (WOF), more than 10 million adults in Canada are expected to live with obesity in eight years from 2018. The percentage of obese people in the country has increased from 23.5% in 2008 to 27% in 2017.
In addition, the cost of treating illnesses, 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 care services. For example, according to World Bank Group data, 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 factors mentioned above, other factors such as high disposable incomes, ever-increasing health care costs, and the presence of large home health care service providers in these countries will continue to fueling the growth of the North American home healthcare services market during the forecast. 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. Analysis of the five forces of carriers
4.4. Industry Value Chain Analysis
5. Home Healthcare Services Market Analysis, By Service Type
5.2. Medical care
5.3. Physician/Primary Care
5.4. Hospice and palliative care
5.5. physical therapy
5.6. Nutritional support
6. Home Healthcare 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. Key Players and Strategic Analysis
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. HAV HOME CARE
8.7. Home Health Care Ltd.
8.10. LHC Group, Inc.
For more information about this report visit https://www.researchandmarkets.com/r/j92zjb
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