Pune, India, Oct. 16, 2023 (GLOBE NEWSWIRE) -- The U.K. home healthcare market size was valued at USD 1.50 billion in 2022 and it is projected to grow from USD 1.61 billion in 2023 to USD 2.60 billion by 2030, exhibiting a CAGR of 7.1% during the forecast period.
Home healthcare services are given at home for any injury or sickness. These services are convenient, efficient, and less expensive. The rising geriatric population and increasing prevalence of chronic diseases, such as ostomy and diabetic foot ulcers, drive the market during the forecast period. The growing shift in healthcare service delivery from traditional institutional settings to home care drives market growth.
Fortune Business Insights™ mentioned this in a report titled “U.K. Home Healthcare Market, 2023-2030.”
Notable Industry Development-
March 2023: Bactiguard has launched effective and biocompatible wound care products in Ireland and the U.K.
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Key Takeaways:
- The aging population, the increasing prevalence of chronic diseases, and the rising cost of hospital care are driving the growth of the U.K. home healthcare market.
- The U.K. home healthcare market is segmented by service type, patient type, and end-user.
- The key players in the U.K. home healthcare market are Bupa, Care UK, Allied Healthcare Group, and Optum.
- These companies are investing in expanding their reach, developing new services, and acquiring smaller players to maintain their competitive edge in the market.
- The U.K. home healthcare market is facing some challenges, such as the shortage of skilled healthcare professionals, the rising cost of living, and the increasing complexity of care needs.
Discover the Leading Players Featured in the Report:
Major players in the U.K. home healthcare market are Coloplast Corp (Denmark), B. Braun SE (Germany), Hollister Incorporated (U.S.), Convatec Group PLC (U.K.), Smith+Nephew (U.K.), Mölnlycke Health Care AB. (Sweden), 3M (U.S.), Fresenius Medical Care AG & Co. KGaA (Germany), Medline Industries, Inc. (U.S.).
Report Scope:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 7.1% |
| 2030 Value Projection | USD 2.60 Billion |
| Base Year | 2022 |
| Market Size in 2023 | USD 1.61 Billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 80 |
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Drivers & Restraints-
Rising Demand for Home Healthcare Services to Drive Market Growth
The increasing chronic disease cases have created a substantial burden in the U.K. These scenarios are rising average hospital admissions, further driving the U.K. home healthcare market growth. The rising patients’ preference for cost-effective options, such as home healthcare services, will propel market growth during the projected period. The benefits of homecare settings, such as decreased infection risks in many ways, further propel market growth during the forecast period.
However, psychological abuse for integrated learning will impede market growth during the projected period.
Report Scope & Segmentation:
By Product
- Continence Care
- Briefs & Diapers
- Catheters & Bags
- Underpads & Liners
- Others
- Wound Care
- Traditional Wound Dressings
- Advanced Wound Dressings
- Negative Pressure Wound Therapy (NPWT)
- Others
- Ostomy Care
- Ostomy Care Bags
- Accessories
- Clinical Nutrition
- Parenteral Nutrition
- Enteral Nutrition
- Respiratory Care
- Housekeeping Supplies & Equipment
- Others
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Rising Adoption of Technologies Drove the Housekeeping Supplies & Equipment Segment Growth
By product, the market is divided into continence care, wound care, ostomy care, clinical nutrition, respiratory care, housekeeping supplies & equipment, and others. The housekeeping supplies & equipment market held the largest U.K. home healthcare market share in 2022. The growth is attributed to the adoption of advanced technologies and the growing geriatric population in the U.K.
The continence care segment accounted for the second-largest market share during the forecast period due to the large population suffering from fecal incontinence issues in the U.K.
Report Coverage-
The report offers:
- Major growth drivers, restraining factors, opportunities, and potential challenges for the market.
- Comprehensive insights into regional developments.
- List of major industry players.
- Key strategies adopted by the market players.
- The latest industry developments include product launches, partnerships, mergers, and acquisitions.
Competitive Landscape-
Rising Investments by Key Players to Drive Market Growth
The market includes Smith+Nephew, Hollister Incorporated, Coloplast Corp, Convatec Inc., and Mölnlycke Health Care AB. These players accounted for a significant market share in 2022 owing to the increasing investments, mergers & acquisitions. The increasing emphasis on partnerships and collaborations with several other key players to strengthen their product portfolio to propel market growth during the projected period.
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FAQ’s
How Big Is The U.K. Home Healthcare Market?
U.K. Home Healthcare Market Size Is USD 1.61 billion in 2023.
How Fast is the U.K. Home Healthcare Market Growing?
The U.K. Home Healthcare Market will exhibit a CAGR of 7.1% during the forecast period, 2023-2030
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