– Rise in adoption of the telehealth technology is expected to drive sales opportunities in the home healthcare market
– Increase in patients’ inclination toward dependable, comfortable, cost-effective, and highly efficient home-based services bolsters market growth
– Major home healthcare providers are increasing R&D activities to provide advanced patient care services
ALBANY, N.Y., Feb. 9, 2022 /PRNewswire/ — According to analysts at Transparency Market Research (TMR), the global home healthcare market is projected to gain valuation of US$ 499.6 Bn by 2028.
In recent years, the demand for different home healthcare products such as blood pressure monitors, blood glucose monitors, temperature monitors, and pulse oximeters has increased across the globe. This factor is propelling the global home healthcare market, notes researchers at TMR.
Older population is generally at higher risk of suffering from chronic health problems. Hence, rise in the older populace around the world is boosting the sales prospects in the global market. Moreover, the home healthcare market is driven by factors such as rapidly advancing home healthcare services and increasing accessibility to home nursing care systems globally.
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The global home healthcare market is prognosticated to gain profitable opportunities in North America, owing to the presence of sturdy healthcare infrastructure, rising adoption of home healthcare facilities, and increasing number of older people in the region. Moreover, the regional market is expected to gain sizeable expansion avenues on the back of increased government investments in the healthcare sector, presence of advanced healthcare technologies, and government initiatives for the introduction of telehealth practices for patients. Furthermore, the North America market is anticipated to expand due to an increasing number of skilled professionals that offer healthcare services home-based patients.
Home Healthcare Market: Key Findings
- The telehealth technology is being increasingly utilized in the healthcare systems to offer superior quality medical services to patients remotely. This factor is favoring the growth of the global home healthcare market. Moreover, increase in the adoption of advanced technologies in the telehealth segment is creating lucrative opportunities in the market.
- Many players in the global home healthcare market are providing advanced products, including Tele-ICUs, smart bedding systems, centralized or remote control systems, and advanced monitoring sensors that help in tracking patients’ health. This factor drives the expansion avenues in the global market.
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Home Healthcare Market: Growth Boosters
- Rise in health problems globally, including diabetes, respiratory issues, and cardiovascular diseases is fueling the sales prospects in the home healthcare market
- Favorable government policies in many developed and developing nations around the world is anticipated to create profitable avenues, states TMR report on the global home healthcare market
- Increasing popularity of home healthcare services as cost-effective and safer alternatives to hospital services is creating notable business prospects in the global home healthcare market
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Home Healthcare Market: Competition Landscape
- Players in the home healthcare market are increasing efforts to develop innovative products and expand their product offerings. Hence, they are seen increasing cash in-flow toward R&D projects.
- Several market enterprises are focusing on providing cost-efficient and effective treatment solutions for patients
- Many companies in the home healthcare market are collaborating with organizations from the healthcare industry in order to discover advanced technologies intended for precise diagnosis and treatments of critical diseases
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Home Healthcare Market: Key Players
Some of the key players profiled in the report are:
- Bayer AG
- 3M Health Care
- Cardinal Health, Inc.
- Abbott Laboratories
- Johnson & Johnson Services, Inc.
- GE Healthcare
- Invacare Corporation
- Gentiva Health Services, Inc.
- Phillips Healthcare
- F. Hoffmann-La Roche Ltd.
- Omron Healthcare, Inc.
- Medtronic, Inc.
Home Healthcare Market Segmentation
- Diagnostic & Monitoring Home Devices
- Blood Glucose Monitors
- Blood Pressure Monitors
- Heart Rate Monitors
- Temperature Monitors
- Sleep Apnea Monitors
- Coagulation Monitors
- Pregnancy Test Kits
- Pulse Oximeters
- Therapeutics Home Healthcare Devices
- Insulin Delivery Devices
- Ventilator & CPAP Devices
- IV Equipment
- Dialysis Equipment
- Home Mobility Assist Devices
- Cranes & Crutches
- Other Home Mobility Assist Devices
- Medical Supplies
- Rehabilitation Services
- Telehealth and Telemedicine Services
- Infusion Therapy Services
- Respiratory Therapy Services
- Unskilled Home Healthcare Services
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
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