This study involved four major activities in estimating the current size of the home healthcare market. Exhaustive secondary research was carried out to collect information on the market, its peer markets, and its parent market. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation procedures were used to estimate the market size of segments and subsegments.
[257 Pages Report] The global home healthcare market size is projected to reach USD 274.7 billion by 2025 from USD 181.9 billion in 2020, at a CAGR of 8.6%
Market growth is driven by rapid growth in the elderly population and the rising incidence of chronic diseases, growing need for cost-effective healthcare delivery due to the increasing healthcare costs, and technological advancements of home care devices.
Market Opportunities:
1. Rising focus on telehealth
2. Untapped developing regions
COVID-19 impact on the home healthcare market
The COVID-19 pandemic has a mixed impact on the home healthcare market. As the home healthcare market consists of products and services, both have different effects. COVID-19 would positively impact few home healthcare monitoring products such as blood glucose monitors, blood pressure monitors, pulse oximeters, and temperature monitors.
Due to the coronavirus pandemic, one might be under the assumption that the home healthcare service industry would be booming because home healthcare providers would be able to treat the vulnerable and elderly population in the comfort of their homes. However, the scenario is different. There have been many home healthcare agencies and providers who have reported a decline in the business. However, this downturn in the home healthcare industry is predicted to be for a while, as the business will pick up at a faster pace in the coming future as more people are recovering from COVID-19.
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The geographical regions mapped in the report are:
1. North America
2. Europe
3. Asia-Pacific
4. Rest of the World (RoW)
The home healthcare market is segmented into North America, Europe, the Asia Pacific, and the Rest of the World. In 2019, North America was the largest regional segment of the overall market, followed by Europe. The large share of North America in the global market is attributed to the rising prevalence of chronic conditions, high healthcare expenditure, high disposable income, the increasing overall geriatric population, high disposable income, and superior healthcare infrastructure.
Some key players mentioned in the research report are:
The prominent players operating in this market include Fresenius SE & Co. KGaA (Germany), GE Healthcare (US), Linde plc (Ireland), F. Hoffmann-La Roche Ltd (Switzerland), Amedisys (US), Kindred at Home (US), and LHC Group, Inc. (US)
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Recent Developments:
1. In 2019, Fresenius Medical Care (Germany) acquired NxStage Medical, Inc. (US). This acquisition strengthens the company’s business in the US. It enables Fresenius Medical Care to leverage it's manufacturing, supply chain, and marketing competencies across the dialysis products, services, and care coordination businesses, especially in-home dialysis and critical care.
2. In 2020, Lincare, a subsidiary of Linde, offers home respiratory care in the US. In response to the COVID-19 pandemic, the company offers in-home services to COVID-19 vulnerable patients. It is also helping to ease the burden on hospitals by transferring respiratory patients and others from in-patient to in-home care.
3. LHC Group Inc (US) entered into a joint venture agreement with University Health Care System (US). This joint venture agreement was aimed to strengthen home health and hospice services across eight cities in Georgia and South Carolina.
This report aims to provide detailed insights into the global home healthcare market.
It provides valuable information on the type, procedure, application, and region in the market.
Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=696 Key Factors Driving Market Growth: The 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 home healthcare market.
In 2019, 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).
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 increasing number of diabetic patients mainly drives growth in this market.
But it can also be physically and mentally exhausting, which is why family caregivers should seek help and take regular breaks.
Caregivers can take care of their own needs and manage their stress levels while they are away.
Here are some facts regarding respite care and why it is a good idea for caregivers and their aging relativesIt benefits seniorsRespite care at home is more than simply a momentary break for family caregivers.
Being removed from their caregivers also allows elders to seek advice and ideas from unbiased individuals, seeing things more clearly.
Your loved one's requirements determine personal care alternatives.
Respite care is available for family carers who are having trouble sleeping at night.
Here are some facts about elderly depression along with the ways to deal with it.Do you feel hopeless, distressed and tired all the time?Are you not interested in activities and social life anymore?Do you feel trouble sleeping, functioning and eating?If you have been feeling such things for a time, chances are you may be experiencing depression.Depression is a common mental health disorder among the elders in the USA.
As they age, they have to go through a lot of changes—the death of a spouse, stressful life events, not having someone, and aggravating health problems.
The symptoms of elderly depression can affect every aspect of life, from energy, appetite, interest in work, relationships and sleep.Sadly, not all depressed elders are able to identify the signs of depression or don’t take the help they require.Here we have rounded up some bewildering facts about elderly depression.
[source]Signs of elderly depression can be triggered by other elderly diseases like Alzheimer’s disease, Parkinson’s disease, heart disease, arthritis and cancer.
[source]One-third of widows/widowers are prone to depression in the first month after the demise of their spouse.
[source]Aged patients of depression generally have to pay 50% higher healthcare costs than non-depressed counterparts.
Home Healthcare Monitoring Device Market 2020-2025 Industry research report covers the market landscape and its growth prospects over the approaching years, the report also brief deals with the merchandise life cycle, it details the potential of various applications to relevant products in already commercialized industries, discusses recent product innovations and provides a summary of potential local markets.Key Player Mentioned: Philips Healthcare (Netherlands), Kindred Healthcare (US), Linde Group (Germany), Almost Family Inc. (US), Abbott Laboratories (US), LHC Group (US), A (Japan), Amedisys (US), Fresenius (Germany), Omron (Japan), McKesson (US), BAYADA Home Health Care (US), Kinnser Software, Inc. (US), Roche (Switzerland)Request Sample Copy @t: https://introspectivemarketresearch.com/request-samples.php?_id=9&_sid=1988This research report provides effective statistical data named because the Home Healthcare Monitoring Device Market.
This report provides an entire overview of the market covering various aspects like product definition and vendors.
Related charts and graphs are included within the report back to gain a far better view of the worldwide market.Product Segment Analysis: Blood Pressure Monitors, Blood Glucose Monitors, Pulse Oximeters, Peak Flow Meters, Heart Rate Monitors, Fetal Monitoring Devices, OthersApplication Segment Analysis: Rehabilitation, Infusion Therapy, Unskilled Care, Respiratory Therapy, OthersRegional Segment Analysis: United States, China, Europe, Japan, Southeast Asia, IndiaThe major players are mainly that specialize in new mergers and acquisitions methods to realize an edge within the market and generate more revenue across the whole market.
Additionally, the market is estimated to accelerate with strategic alliances which will be implemented over subsequent few years thanks to the exponential demand for Home Healthcare Monitoring Device over many industries and corporations round the world.Ask For Discount @t: https://introspectivemarketresearch.com/ask-for-discount.php?_id=9&_sid=1988We insist that we can facilitate customer decisions by paying attention to possible modifications based on customer expectations and needs.
This study on Home Healthcare Monitoring Device market can be used for key decision making because it is important and beneficial in supporting opportunity identification and development.Influence of the Report: - A comprehensive evaluation of all the opportunities and risks within the Home Healthcare Monitoring Device Market.
- Recent innovations and major developments within the Home Healthcare Monitoring Device Market.
Major Growth Boosting Factors: The Medical Gas and Equipment Market has evolved significantly owing to various technological advancements.
Factors such as increasing prevalence of chronic diseases, increasing incidence of respiratory diseases as a result of the high prevalence of tobacco use and rising pollution levels, rapid growth in the geriatric population, rising incidence of preterm births, and growing demand for home healthcare are expected to drive market growth in the coming years.
Market expansion in emerging countries across APAC and technological advancements are also expected to present a wide range of opportunities for players in the market.Revenue Growth Opportunities: MarketsandMarkets forecasts the medical gases market to grow from USD 14.83 billion in 2018 to USD 20.04 billion by 2023, at a Compound Annual Growth Rate (CAGR) of 6.2% during the forecast period.Recent Developments;# In 2018, Air Liquide acquired EOVE (France) to increase its presence in the home healthcare market.
EOVE is a startup company specialized in the manufacturing of ventilators for home-based patients suffering from chronic respiratory failure.# In 2018, GCE introduced MediVitop, a new One-Knob Cylinder Valve with Integrated Pressure Regulator.# In 2018, Ceodeux Meditec launched ALPIFLOW, a next-generation flow meter with over ten years lifetime without additional maintenance.
The product is attached directly to the Ceodeux Meditec ALPICONNECT or ALPINOX and MINIOX to regulate oxygen-flow from the hospital pipeline system and from portable oxygen cylinders.# In 2018, Atlas Copco opened an expanded innovation center in Bretten, Germany to meet growing customer demand for testing and developing innovative joining technologies.# In 2018, Linde entered into an agreement with Messer Group and CVC Capital Partners Fund VII to sell the majority of Linde’s gases business in North America and certain business activities in South America.Request Research Sample Pages: https://www.marketsandmarkets.com/requestsampleNew.asp?id=217979261By form of delivery;The pure gases in high-pressure cylinders is expected to dominate the market in the coming years.
Many of the major players in the medical gases and equipment market also offer products in high-pressure cylinders.By medical gas mixtures type;The lung diffusion mixtures segment accounted for the largest share of the medical gas mixtures market in 2017.
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