Worldwide Home Healthcare Industry to 2028 – Increasing Homecare Settings Presents Opportunities – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The “Home Healthcare Market Forecast to 2028 – COVID-19 Impact and Global Analysis by Product Type; Indication; Service; and Geography” report has been added to ResearchAndMarkets.com’s offering.

The global home healthcare market is expected to reach US$ 621,565.89 million by 2028 from US$ 315,139.27 million in 2020; it is estimated to grow at a CAGR of 8.9% from 2021 to 2028.

The factors such as growing demand for home healthcare due to rising aging population and increasing prevalence of chronic diseases and surging homecare settings drive the market growth. However, the shortage of home care workers hinders the market growth.

Home healthcare comprises a wide range of healthcare services for illness in homecare settings. The goal of home healthcare is to treat injury and improve health outcomes of a patient. These services are more convenient and less expensive and are efficient treatment for chronic diseases and serious illness, elderly population, and nutrition therapy of a patient.

The growth of the home healthcare market is attributed to the factors such as increasing prevalence of chronic diseases, rising geriatric population, and growing development in the medical device industry. As per the United Nations (UN) estimation, by 2060, the geriatric population will reach 1.8 billion, which will account for 17.8% of the world’s total population. Chronic diseases, such as cardiovascular disorders, diabetes, autoimmune disorders, and various types of cancer and neurological disorders are leading to death and disability worldwide. These clinical conditions affect patients’ overall quality of life. As per the World Health Organization (WHO), over 50% of the global population is estimated to be suffering from at least one chronic disease.

As per the Centers for Disease Control and Prevention (CDC), in the US, 6 in 10 people suffered from at least one chronic disease in 2019. Cardiovascular diseases (CVDs) are a significant cause of mortality globally owing to the hectic lifestyle. Diabetes is one of the life-threatening diseases and can lead to various complications in different parts of the body and can increase the overall risk of premature death. As per the International Diabetes Federation (IDF), in 2019, ~463 million adults were suffering from diabetes, and the number is expected to reach 700 million by 2045. Countries such as the US, Japan, South Korea, Canada, the UK, Spain, and France are significantly experiencing growth in the geriatric population. The countries mentioned above, along with the developing countries such as China, India, Saudi Arabia, the UAE, and Brazil, offer significant growth opportunities for the home healthcare players to provide innovative devices. In addition, the increasing adoption of telemedicine and mHealth technologies is driving the growth of the home healthcare market.

Reasons to Buy

• Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the home healthcare market.
• Highlights key business priorities in order to assist companies to realign their business strategies.
• The key findings and recommendations highlight crucial progressive industry trends in the global home healthcare market, thereby allowing players across the value chain to develop effective long-term strategies.
• Develop/modify business expansion plans by using substantial growth offering developed and emerging markets.
• Scrutinize in-depth global market trends and outlook coupled with the factors driving the market, as well as those hindering it.
• Enhance the decision-making process by understanding the strategies that underpin security interest with respect to client products, segmentation, pricing and distribution

Market Dynamics

Drivers

• Growing Demand for Home Healthcare due to Aging Population and Increasing Prevalence of Chronic Diseases
• Increasing Homecare Settings

Restraints

• Shortage of Home Care Workers

Opportunities

• Homecare Settings in Developing Countries

Future Trends

• Rising Focus on Telehealth

Companies Mentioned

• Fresenius SE & Co. KGaA
• General Electric Company
• LINDE
• F. HOFFMANN-LA ROCHE LTD.
• A&D Company, Limited
• LHC Group, Inc.
• BAYADA Home Health Care
• Invacare Corporation
• Abbott Care
• Amedisys
• Kindred Healthcare, LLC

For more information about this report visit https://www.researchandmarkets.com/r/y6g3su

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