(PharmaNewsWire.Com, February 24, 2022 ) According to the new market research report, "Home Healthcare Market by Product (Dialysis Equipment, IV Equipment, Ventilators, Coagulation Monitors, Peak Flow Meters), Service (Infusion Therapy, Skilled Nursing, Hospice), Indication (Cancer, Wound Care, Diabetes), & Region - Global Forecast to 2026", size is projected to reach USD 298.2 billion by 2026 from USD 198.9 billion in 2021, at a CAGR of 8.4% during the forecast period.
Browse and in-depth TOC on "Home Healthcare Market"
Rapid growth in the elderly population, the rising incidence of chronic diseases, the growing need for cost-effective healthcare delivery due to the increasing healthcare costs, and technological advancements of home care devices are the major factors driving the growth of this market.
In 2020, the dialysis equipment segment accounted for the largest share of the home healthcare therapeutic products market
Based on therapeutic products, the global home healthcare market is segmented into oxygen delivery systems, nebulizers, ventilators, sleep apnea therapeutic devices, wound care products, IV equipment, dialysis equipment, insulin delivery devices, and other products (ostomy devices and automated external defibrillators). Dialysis equipment accounted for the largest share of the home healthcare therapeutic products market in 2020. Technological advancements and the launch of new products that are safe and easy to use in home care settings, and growing awareness about home therapies are some other major factors driving the growth of the home dialysis market
The diabetes indication segment is expected to grow at the highest CAGR during the forecast period
By indication type, the global home healthcare market is segmented into cancer, respiratory diseases, mobility disorders, cardiovascular diseases & hypertension, pregnancy, wound care, diabetes, hearing disorders, and other indications. The diabetes segment is expected to register the highest CAGR during the forecast period. The increasing number of diabetic patients mainly drives growth in this market. Moreover, monitoring blood sugar at home helps arrive at an overall diabetes treatment plan and aids in managing the medications for blood sugar, diet, and exercise.
North America was the largest regional market for the home healthcare market in 2020
The home healthcare market is segmented into four major regions—North America, Europe, Asia Pacific, and the Rest of the World (RoW). North America was the largest regional market for home healthcare in 2020. The large share of North America in the global market is attributed to the high healthcare expenditure, rising prevalence of chronic conditions, high disposable income, the increasing overall geriatric population, high disposable income, and superior healthcare infrastructure. However, the Asia Pacific market is estimated to grow at the highest CAGR during the forecast period. Growth in the Asia Pacific home healthcare market is driven primarily by the rising aging population, increased incidence of chronic diseases, rising disposable income, technological advancements, government initiatives to promote home healthcare, and increasing healthcare costs.
The global home healthcare market is highly fragmented. The prominent players in the overall home healthcare market include Fresenius SE & Co. KGaA (Germany), GE Healthcare (US), Linde plc (Ireland), F. Hoffmann-La Roche Ltd (Switzerland), A&D Company (Japan), BAYADA Home Health Care (US), Invacare Corporation (US), Abbott (US), Amedisys (US), ResMed (US), LHC Group, Inc. (US), OMRON Corporation (Japan), Koninklijke Philips N.V. (Netherlands), Drive DeVilbiss Healthcare (US), Hamilton Medical (Switzerland), Sunrise Medical (Germany), Roma Medical (UK), Caremax Rehabilitation Equipment Co., Ltd(China), Vitalograph (UK), Advita Pflegedienst GmbH (Germany), RENAFAN GmbH (Germany), ADMR (France), Apex Medical Corporation (Taiwan), CONTEC MEDICAL SYSTEMS CO., LTD (China), and Löwenstein Medical Technology GmbH + Co. KG. (Germany).
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