Home Healthcare Market by Offering (Fertility, Pregnancy, Cholesterol Tests, Oximeter, CPAP, Nebulizer, Ventilator, Dialysis, Patient Support Equipment), Service (Rehabilitation, Telehealth, Nursing, Hospice), Application (Cardiovascular, Diabetes, Respiratory) - Global Forecast to 2030

The Home Healthcare Market is projected to reach $514.5 billion by 2030, at a CAGR of 7.9% from 2023 to 2030. 

Patients or individuals use home healthcare equipment and services to manage various conditions such as cardiovascular diseases, hypertension, diabetes, respiratory diseases, pregnancy, mobility disorders, cancer, wound care, and other conditions at home. Home healthcare is mostly used when a patient or individual requires prolonged care.

The increasing geriatric population, the growing adoption of home healthcare services due to the high cost of hospital healthcare services, and the rising prevalence of chronic diseases are driving the growth of the home healthcare market. Furthermore, the launch of technologically advanced products used in home healthcare settings, the growing preference for home care due to the high prevalence of infectious diseases, and the high market growth potential offered by developing economies are expected to offer significant opportunities for the market’s growth.

However, lack of reimbursement for home healthcare services and altered healthcare standards compared to hospital care are expected to restrain the growth of this market.

Home Healthcare as a Cost-effective Alternative to Hospital Healthcare Services

The emergence of home healthcare has enabled patients to receive hospital-like care in their homes and has also proved to be a cheaper, safer, and more effective alternative to traditional hospital care, mainly for those patients who are at risk of suffering from complications of inpatient care and hospital-acquired infections. These advantages of home care have led many countries, such as the U.S., U.K., Canada, Australia, and Israel, to implement government policies that encourage homecare health services. For instance, every regional and metropolitan hospital in Victoria, Australia, has a hospital-at-home program, and nearly 6% of all hospital bed-days are provided that way. (Source: The Commonwealth Fund). Furthermore, home care is widely adopted for specific conditions such as deep venous thrombosis (DVT) and acute cellulitis.

As per the Johns Hopkins Model, the cost of at-home care was 32% less than hospital care ($5,081 VS. $7,480), and the length of stay of the patients was also reduced by nearly one-third (3.2 days VS. 4.9 days). Additionally, the home care setting was found to be more convenient for family members and patients than those offered usual hospital care.

Nearly 5.6 million children in the U.S. receive nearly 5.1 hours of medical care at home, which saves approximately $36 billion annually (Source: Everyday Health, Inc. [U.S.]). These factors have led to the increased adoption of home healthcare as a cost-effective alternative to hospital healthcare services.

Additionally, the reduced need for rehospitalization and expensive and unnecessary testing and shorter treatment times are among the major factors propelling the adoption of home-based health services in developed and developing countries.

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Increasing Prevalence of Chronic Diseases is Supporting the Market’s Growth

The prevalence of chronic diseases is expected to increase due to the aging population, unhealthy lifestyles, and accidental events. The elderly population is more prone to chronic diseases such as cardiovascular diseases, hypertension, diabetes, arthritis, Alzheimer's disease, and cancer. According to the National Council on Aging (NCOA), around 80% of people over 65 have at least one chronic condition, while 68% have two or more. For Instance:

• According to the International Diabetes Federation (IDF), the number of people with diabetes is expected to increase from 537 million in 2021 to 643 million in 2030 and 783 million in 2045
• According to GLOBOCAN, in 2020, 19.3 million people were diagnosed with cancer globally, which is expected to reach 24.6 million by 2030.

The growing prevalence of chronic conditions increases the demand for continuous health monitoring solutions and services. Furthermore, it has been observed that most of the aging population is unwilling to receive healthcare services at hospitals and clinics, leading to increased adoption of home healthcare.

Key Findings in the Home Healthcare Market Study:

Based on offering, in 2023, the home therapeutic equipment segment is expected to account for the largest share of the home healthcare market

The growing need for equipment such as oxygen delivery equipment, ventilators, and home dialysis used in homecare settings for treating and managing chronic diseases such as kidney diseases and respiratory disorders is expected to contribute to the market growth of this segment.

Based on services, in 2023, the skilled care/nursing segment is projected to register the highest CAGR of the home healthcare market during the forecast period

The growth of this segment is attributed to the increasing need for home healthcare services, the rising geriatric population, the growing need for home-based treatment to prevent hospital-acquired infections, and the shift towards remote management of chronic diseases.

Based on application, in 2023, the diabetes segment is expected to account for the largest share of the home healthcare market

The growth of this segment is attributed to the rising cases of diabetes globally and the high prevalence of cardiovascular diseases and hypertension in diabetic patients.

Asia-Pacific: Fastest-growing regional market

The growth of this regional market is attributed to the increasing geriatric population, the rising prevalence of chronic diseases in developing nations, the increasing investments in home healthcare in developing countries such as China and India, and the higher preference for home-based treatments due to the high costs of hospital services. Furthermore, government initiatives promoting homecare and the launch of advanced homecare products are driving the growth of the home healthcare market in Asia-Pacific.

Key Players:

The report includes a competitive landscape based on an extensive assessment of the key growth strategies adopted by leading market players in the past few years. The key players profiled in the home healthcare market report are Abbott Laboratories (U.S.), Amedisys, Inc (U.S.), Owens & Minor (U.S.), B. Braun SE (Germany), Baxter International, Inc. (U.S.), BAYADA Home Health Care (U.S.), Convatec (U.K.), Halyard Health, Inc. (U.S.), Covidien (Ireland), Fisher & Paykel (New Zealand), Fresenius Medical (Germany), GE Healthcare (U.S.), Johnson & Johnson (U.S.), and F. Hoffmann-La Roche AG (Switzerland).

Scope of the Report:

Home Healthcare Market, by Offering

• Home Tests and Patient Monitoring Equipment
  • Fertility Tests & Aids
  • Pregnancy Tests
  • Gender, DNA, and Parental Tests
  • Cholesterol Tests
  • HIV Tests
  • Holter Monitors
  • Blood Pressure Monitors
  • Oximeters
  • Heart Rate Monitors
  • Thermometers
  • Stethoscopes
  • Defibrillators
  • Pedometers
  • Scales & Body Fat Monitors
  • Peak Flow Meters
  • Apnea Monitors
  • Baby Monitors
  • Coagulation Monitors
  • Diabetes Management           
• Home Therapeutic Equipment
  • Home Respiratory Therapy Equipment
    • Continuous Positive Airway Pressure Equipment
      • CPAP Machines
      • CPAP Accessories & Consumables
    • Oxygen Delivery Equipment
    • Nebulizers & Accessories
    • Ventilators & Accessories
  • Home Dialysis Equipment
    • Home Peritoneal Dialysis Products
    • Home Hemodialysis Products
  • Home IV Equipment
    • IV Pumps
    • Other Home IV Equipment
  • Other Equipment
• Patient Support Equipment
  • Mobility Assist Equipment
    • Wheelchairs
  • Walking Assist Devices
    • Walkers and Rollators
    • Canes & Walking Sticks
    • Crutches
  • Mobility Scooters
  • Medical Furniture and Accessories
  • Bathroom Safety Equipment

Home Healthcare Market, by Services

• Rehabilitation Services
• Infusion Services
• Skilled Care/Nursing
• Unskilled Care Services
• Telehealth Services
• Hospice Care Services
• Respiratory Therapy Services
• Other Services

Home Healthcare Market, by Application

• Cardiovascular Diseases & Hypertension
• Diabetes
• Respiratory Diseases
• Pregnancy
• Mobility Disorders
• Cancer
• Wound Care
• Other Applications

 Home Healthcare Market, by Geography

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • France
  • Italy
  • U.K.
  • Spain
  • Rest of Europe (RoE)
• Asia-Pacific
  • China
  • Japan
  • India
  • Rest of Asia-Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa

Key questions answered in the report: