Dublin, Dec. 29, 2022 (GLOBE NEWSWIRE) -- The "Global Home Health Market By product, By services & By region-Forecast Analysis 2022-2028" report has been added to ResearchAndMarkets.com's offering.
Global Home Health Market size was valued at USD 301.09 billion in 2021, and it is expected to reach a value of USD 514.68 billion by 2028, at a CAGR of 7.96% during the forecast period (2022-2028).
Increasing the daily dose of medication for older persons while they are at home has been made possible by the development of portable gadgets and simple-to-use items. This movement has occurred from healthcare settings to homecare settings. Due to this, traditional healthcare venues are providing more home healthcare services. Patients with remote data access via smart insulin pens can control their insulin levels at home without seeing a doctor, which lowers total costs.
Additionally, it enables doctors to keep an eye on patients' health from a distance, providing clear communication between patients and caregivers. Relationship-based home care targets care receivers who are independent and in good health while simultaneously addressing urgent needs. Geriatrics and disabled people can benefit in countless ways from relationship-based home care.
Segments covered in this report
The Global Home Health market is segmented based on Product, Service, Component, Indication, and Region. Based on Product is categorized into Testing, Screening, & Monitoring Products, Mobility Care Products, and Therapeutic Products. Based on Service, it is categorized into Skilled Nursing Services, Rehabilitation Therapy Services, Hospice, and Palliative Care Services, Unskilled Care Services, Respiratory Therapy Services, Infusion Therapy Services, and Pregnancy Care Services. Based on Component, it is categorized into Equipment and Services. Based on Indication, it is categorized into Cardiovascular Disorders & Hypertension, Diabetes, Respiratory Diseases, Pregnancy, Mobility Disorders, Hearing Disorders, Cancer, Wound Care, and Other Indications. Based on region, it is categorized into North America, Europe, Asia-Pacific, South America, and MEA.
Driver
The aging population, increasing rates of target diseases like dementia and Alzheimer's, and orthopedic diseases are all predicted to drive market expansion. Governments and health organizations are working to reduce healthcare expenses since one of their top worries is the rising cost of treatments. An affordable alternative to an expensive hospital stay is home healthcare.
Restraint
In in-home care, there is a less face-to-face interaction between the nurse and the doctor, and the nurse is in charge of conducting assessments and disseminating results. The safety and results of the patient are impacted by this factor. Additionally, limiting industry expansion leads to a shortage of home health professionals.
Market Trends
In order to obtain a competitive edge, market participants are expanding their service offerings. The need for home health services is growing as cases of cardiovascular disease, diabetes, and respiratory problems rise. Industry participants in the global home health market should concentrate on providing patients with high-quality, low-cost care.
Since these services offer safer and more affordable alternatives to hospital services, there has been an increase in public awareness of home health services in recent years. Additionally, in response to the COVID-19 threat and the expansion of at-home services, service providers are increasing their product lines.
| Report Attribute | Details |
| No. of Pages | 55 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $301.09 Billion |
| Forecasted Market Value (USD) by 2028 | $514.68 Billion |
| Compound Annual Growth Rate | 7.9% |
| Regions Covered | Global |
Companies Mentioned
- McKesson Medical-Surgical Inc
- F. Hoffmann-La Roche Ltd
- Fresenius Medical Care
- Medtronic PLC
- 3M Healthcare
- Baxter International Inc
- B. Braun Melsungen AG
- Arkray, Inc
- Becton, Dickinson And Company
- Acelity L.P.
For more information about this report visit https://www.researchandmarkets.com/r/p406xf
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