In 2021, the home healthcare sector generated $3 billion in sales. According to a thorough analysis, the worldwide home healthcare market is anticipated to grow at a CAGR of 3.1% from 2022 to 2030, reaching US$ 4 billion.
| Home Healthcare Market Size (2022) | US$ 3.13 Bn |
| Sales Forecast (2030) | US$ 4 Bn |
| Global Market Growth Rate (2022 to 2030) | 3.1% CAGR |
| Share of Top 5 Market Players | 50% |
The cost of hospital stays, together with changing patient needs and technological advancements, are putting tremendous pressure on healthcare systems to rethink how treatment is provided in the future. According to a recent Future Market Insights (FMI) analysis on the global home healthcare market, home-based primary care and hospital-at-home care will continue to make major advancements in the near future.
The global COVID-19 epidemic and changing industry priorities have caused a modest reduction in the usage of home healthcare products and solutions since Q1 2022. Lockdowns across the country, the closing of manufacturing facilities, and significant supply chain changes are all posing obstacles to the development of the home healthcare sector. The market, however, seems poised for a quick recovery after the coronavirus was contained.
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Key Takeaways of Home Healthcare Market Study
- Prevalence of chronic diseases, especially among the geriatric population, is opening a broad array of opportunities for home healthcare companies.
- Infusion pumps would remain preferred among various home healthcare products such as pressure relief devices; ostomy drainage bags to follow closely.
- Stoma care would be the prominent application area in home healthcare market; key players to invest in IV medication.
- North America and Europe continue to offer opportunities of growth and profitability, owing to strong presence of leading players and rising adoption of home healthcare services.
Leading Manufacturers Capitalize on Product Portfolio Expansion and Distributional Partnerships
A majority of companies are focused on development of innovative home healthcare. Several prominent players are investing in expansion of their product portfolio thorough acquisitions in order to extend their geographical reach. For instance, the famous BD and C.R. Bard merger gave rise to a new global healthcare leader. With an aim to expand operations in the UK, Medline had announced opening of its new warehouse in the UK, in 2018.
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Some of the prominent players in home healthcare industry that are profiled in the FMI report, include Coloplast A/S, Baxter International Inc, B. Braun Melsungen AG, Hollister Incorporated, ConvaTec Group Plc, Medtronic plc., and Becton Dickinson and Co.
Know More About Report Inclusions
The FMI report brings to fore a comprehensive research on the market growth forecast at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2015 to 2030. The global Home Healthcare market is segmented in detail to cover every aspect of the market and present a complete market intelligence approach to the reader.
The study provides compelling insights on Home Healthcare market on basis of product type (infusion systems, pressure relief devices, hydrocolloid dressings, hydrofibre dressings, hydrogel dressings, semi-permeable film dressings, superabsorbent dressings, wound contact layers, gauze sponges, gauzes, sponges, ostomy drainage bags), application (total parenteral nutrition (TPN), IV medication, pressure ulcer, stoma care), across seven major regions.
About FMI
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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