Home healthcare services market size to grow by USD 56.83 billion from 2021 to 2026; Growth driven by rising geriatric population - Technavio

NEW YORK, April 6, 2023 /PRNewswire/ -- The global home healthcare services market size is estimated to increase by USD 56.83 billion from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 10.83% during the forecast period. The rising geriatric population is expected to drive the growth of the market. The older population is increasing at a rapid rate in both developed and developing countries worldwide. According to the estimates, the geriatric population in countries such as China, India, Indonesia, the US, Canada, and Mexico could quadruple by the end of this decade. People in this age group are vulnerable to communicable and non-communicable diseases and, hence, frequently need healthcare services. These factors have increased the demand for personal care, companion management, palliative care, fit-mind cognitive care, hospital discharge services, and home support care services worldwide, which is driving the market growth. Discover some insights on market size before buying the full report - Request a sample report

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Global Home Healthcare Services Market - Segmentation Assessment

Segment Overview
Technavio has segmented the market based on application (therapeutic services, diagnostic services, and others) and geography (North America, Asia, Europe, and Rest of World (ROW)).

• The market growth in the therapeutic services segment will be significant during the forecast period. The segment includes services required for critically ill patients post-treatment and during recovery from a medical condition. The rise in demand for home healthcare and the availability of skilled professionals are driving the growth of the segment. Also, the rising number of medical cases due to various accidents and chronic diseases will support the growth of the segment.

Geography Overview
The report provides actionable insights and estimates the contribution of all regions to the growth of the global home healthcare services market.

• North America will account for 35% of the market growth during the forecast period. Factors such as the expanding aging population, increasing adoption of long-term healthcare services, and increasing awareness about healthcare are driving the growth of the regional market. The presence of favorable reimbursement policies that reduce the burden of healthcare spending on patients is another major factor driving the growth of the home healthcare services market in North America.

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Global Home Healthcare Services Market – Vendor Analysis

The global home healthcare services market is fragmented and competitive due to the presence of several regional and global vendors. Small vendors offer a limited number of products, services, and solutions in a particular region. With the global vendors consistently increasing their footprint in the market, the regional vendors are finding it increasingly difficult to compete. The competitive environment in the market is expected to intensify further during the forecast period due to product and service extensions and product innovations. Some of the key vendors covered in the report include:

• AccentCare Inc. - The company offers home healthcare services that include care management, health alert systems, medical home care, hospice and palliative care, and home health.
• Addus HomeCare Corp.
• Advino Healthcare Pvt ltd.
• Allied Healthcare Products Inc.
• Amedisys Inc. - The company offers home healthcare services that include home healthcare, hospice care, palliative care, and personal care.
• Bluebird Care Network - The company offers home healthcare services that include domiciliary care, companionship care, specialist care, dementia care, Alzheimer's disease care, Parkinson's disease care, physical disabilities care, learning disabilities support, rabblement services, acquired brain injury, and arthritis care.
• Brookdale Senior Living Inc. - The company offers home healthcare services that include oncology care, enteral nutrition, post-surgical care, enter stomal therapy, infusion therapy, wound care, patient education, anodyne therapy, diabetes care, transplant care, cardiac care, blood pressure monitoring, catheter care, and pain management.
• Apollo Homecare
• CVS Health
• Genesis Healthcare Inc.
• Grand world Elder Care
• Health Vista Private Ltd.
• Kindred Healthcare LLC
• LHC GROUP INC.
• Magic Potion Technology Pvt Ltd.
• Max Healthcare
• Philips International BV
• ProMedica Health System Inc.
• Sutter Health
• TriBeCa Care

Global Home Healthcare Services Market – Market Dynamics

Key Trends –

Increasing acceptance of connected healthcare is identified as the key trend in the market. The popularity of connected healthcare services is increasing among healthcare professionals and patients. These services provide opportunities for patients to stay well-connected with healthcare professionals through integrated technology platforms. With the help of technology and advanced devices, connected healthcare systems provide real-time data to patients, caregivers, and doctors. They reduce the cost of healthcare services without compromising on quality. They also ensure a reduced number of medical errors, real-time patient data collection, and preventive healthcare. Such benefits are increasing demand for connected healthcare services, which is positively influencing market growth.

Major challenges – 

The limited availability of a skilled workforce is the major challenge in the market. Factors such as high patient satisfaction and improved convenience have increased the quality of global home healthcare services worldwide. However, the dearth of skilled healthcare professionals to provide the required services, especially in developing countries is reducing the market growth potential. The growing shortage of skilled professionals has affected patients highly dependent on doctors and healthcare facilities for various chronic diseases. This challenge will hinder the growth of the market during the forecast period.

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What are the key data covered in this home healthcare services market report?

• CAGR of the market during the forecast period
• Detailed information on factors that will drive the growth of the home healthcare services market between 2022 and 2026
• Precise estimation of the size of the home healthcare services market size and its contribution to the parent market
• Accurate predictions about upcoming trends and changes in consumer behavior
• Growth of the home healthcare services market industry across North America, Asia, Europe, and Rest of World (ROW)
• A thorough analysis of the market's competitive landscape and detailed information about vendors
• Comprehensive analysis of factors that will challenge the growth of home healthcare services market vendors

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• The home healthcare market size is expected to increase by USD 169.86 million from 2021 to 2026, and the market's growth momentum will accelerate at a CAGR of 8.28%. The market is segmented by application (medical treatment and preventive healthcare), type (products, services, and solutions), and geography (North America, Europe, Asia, and the Rest of the World (ROW)).
• The healthcare analytical testing services market size is expected to increase by USD 11.38 billion from 2020 to 2025, and the market's growth momentum will accelerate at a CAGR of 5.62%. The market is segmented by end-user (pharmaceutical and biotechnology companies, medical device companies, and CRO) and geography (North America, Europe, Asia, and ROW).

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Table of contents:

1 Executive Summary

• 1.1 Market overview 
• Exhibit 01: Executive Summary – Chart on Market Overview
• Exhibit 02: Executive Summary – Data Table on Market Overview
• Exhibit 03: Executive Summary – Chart on Global Market Characteristics
• Exhibit 04: Executive Summary – Chart on Market by Geography
• Exhibit 05: Executive Summary – Chart on Market Segmentation by Application
• Exhibit 06: Executive Summary – Chart on Incremental Growth
• Exhibit 07: Executive Summary – Data Table on Incremental Growth
• Exhibit 08: Executive Summary – Chart on Vendor Market Positioning

2 Market Landscape

• 2.1 Market ecosystem 
• Exhibit 09: Parent market
• Exhibit 10: Market Characteristics

3 Market Sizing

• 3.1 Market definition 
• Exhibit 11: Offerings of vendors included in the market definition

• 3.2 Market segment analysis 
• Exhibit 12: Market segments

• 3.3 Market size 2021

• 3.4 Market outlook: Forecast for 2021-2026 
• Exhibit 13: Chart on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 14: Data Table on Global - Market size and forecast 2021-2026 ($ million)
• Exhibit 15: Chart on Global Market: Year-over-year growth 2021-2026 (%)
• Exhibit 16: Data Table on Global Market: Year-over-year growth 2021-2026 (%)

4 Five Forces Analysis

• 4.1 Five forces summary 
• Exhibit 17: Five forces analysis - Comparison between2021 and 2026

• 4.2 Bargaining power of buyers 
• Exhibit 18: Chart on Bargaining power of buyers – Impact of key factors 2021 and 2026

• 4.3 Bargaining power of suppliers 
• Exhibit 19: Bargaining power of suppliers – Impact of key factors in 2021 and 2026

• 4.4 Threat of new entrants 
• Exhibit 20: Threat of new entrants – Impact of key factors in 2021 and 2026

• 4.5 Threat of substitutes 
• Exhibit 21: Threat of substitutes – Impact of key factors in 2021 and 2026

• 4.6 Threat of rivalry 
• Exhibit 22: Threat of rivalry – Impact of key factors in 2021 and 2026

• 4.7 Market condition 
• Exhibit 23: Chart on Market condition - Five forces 2021 and 2026

5 Market Segmentation by Application

• 5.1 Market segments 
• Exhibit 24: Chart on Application - Market share 2021-2026 (%)
• Exhibit 25: Data Table on Application - Market share 2021-2026 (%)

• 5.2 Comparison by Application 
• Exhibit 26: Chart on Comparison by Application
• Exhibit 27: Data Table on Comparison by Application

• 5.3 Therapeutic services - Market size and forecast 2021-2026
• Exhibit 28: Chart on Therapeutic services - Market size and forecast 2021-2026 ($ million)
• Exhibit 29: Data Table on Therapeutic services - Market size and forecast 2021-2026 ($ million)
• Exhibit 30: Chart on Therapeutic services - Year-over-year growth 2021-2026 (%)
• Exhibit 31: Data Table on Therapeutic services - Year-over-year growth 2021-2026 (%)

• 5.4 Diagnostic services - Market size and forecast 2021-2026
• Exhibit 32: Chart on Diagnostic services - Market size and forecast 2021-2026 ($ million)
• Exhibit 33: Data Table on Diagnostic services - Market size and forecast 2021-2026 ($ million)
• Exhibit 34: Chart on Diagnostic services - Year-over-year growth 2021-2026 (%)
• Exhibit 35: Data Table on Diagnostic services - Year-over-year growth 2021-2026 (%)

• 5.5 Others - Market size and forecast 2021-2026
• Exhibit 36: Chart on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 37: Data Table on Others - Market size and forecast 2021-2026 ($ million)
• Exhibit 38: Chart on Others - Year-over-year growth 2021-2026 (%)
• Exhibit 39: Data Table on Others - Year-over-year growth 2021-2026 (%)

• 5.6 Market opportunity by Application 
• Exhibit 40: Market opportunity by Application ($ million)

6 Customer Landscape

• 6.1 Customer landscape overview 
• Exhibit 41: Analysis of price sensitivity, lifecycle, customer purchase basket, adoption rates, and purchase criteria

7 Geographic Landscape

• 7.1 Geographic segmentation 
• Exhibit 42: Chart on Market share by geography 2021-2026 (%)
• Exhibit 43: Data Table on Market share by geography 2021-2026 (%)

• 7.2 Geographic comparison 
• Exhibit 44: Chart on Geographic comparison
• Exhibit 45: Data Table on Geographic comparison

• 7.3 North America - Market size and forecast 2021-2026
• Exhibit 46: Chart on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 47: Data Table on North America - Market size and forecast 2021-2026 ($ million)
• Exhibit 48: Chart on North America - Year-over-year growth 2021-2026 (%)
• Exhibit 49: Data Table on North America - Year-over-year growth 2021-2026 (%)

• 7.4 Asia - Market size and forecast 2021-2026
• Exhibit 50: Chart on Asia - Market size and forecast 2021-2026 ($ million)
• Exhibit 51: Data Table on Asia - Market size and forecast 2021-2026 ($ million)
• Exhibit 52: Chart on Asia - Year-over-year growth 2021-2026 (%)
• Exhibit 53: Data Table on Asia - Year-over-year growth 2021-2026 (%)

• 7.5 Europe - Market size and forecast 2021-2026
• Exhibit 54: Chart on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 55: Data Table on Europe - Market size and forecast 2021-2026 ($ million)
• Exhibit 56: Chart on Europe - Year-over-year growth 2021-2026 (%)
• Exhibit 57: Data Table on Europe - Year-over-year growth 2021-2026 (%)

• 7.6 Rest of World (ROW) - Market size and forecast 2021-2026
• Exhibit 58: Chart on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
• Exhibit 59: Data Table on Rest of World (ROW) - Market size and forecast 2021-2026 ($ million)
• Exhibit 60: Chart on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)
• Exhibit 61: Data Table on Rest of World (ROW) - Year-over-year growth 2021-2026 (%)

• 7.7 US - Market size and forecast 2021-2026
• Exhibit 62: Chart on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 63: Data Table on US - Market size and forecast 2021-2026 ($ million)
• Exhibit 64: Chart on US - Year-over-year growth 2021-2026 (%)
• Exhibit 65: Data Table on US - Year-over-year growth 2021-2026 (%)

• 7.8 China - Market size and forecast 2021-2026
• Exhibit 66: Chart on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 67: Data Table on China - Market size and forecast 2021-2026 ($ million)
• Exhibit 68: Chart on China - Year-over-year growth 2021-2026 (%)
• Exhibit 69: Data Table on China - Year-over-year growth 2021-2026 (%)

• 7.9 UK - Market size and forecast 2021-2026
• Exhibit 70: Chart on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 71: Data Table on UK - Market size and forecast 2021-2026 ($ million)
• Exhibit 72: Chart on UK - Year-over-year growth 2021-2026 (%)
• Exhibit 73: Data Table on UK - Year-over-year growth 2021-2026 (%)

• 7.10 India - Market size and forecast 2021-2026
• Exhibit 74: Chart on India - Market size and forecast 2021-2026 ($ million)
• Exhibit 75: Data Table on India - Market size and forecast 2021-2026 ($ million)
• Exhibit 76: Chart on India - Year-over-year growth 2021-2026 (%)
• Exhibit 77: Data Table on India - Year-over-year growth 2021-2026 (%)

• 7.11 Germany - Market size and forecast 2021-2026
• Exhibit 78: Chart on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 79: Data Table on Germany - Market size and forecast 2021-2026 ($ million)
• Exhibit 80: Chart on Germany - Year-over-year growth 2021-2026 (%)
• Exhibit 81: Data Table on Germany - Year-over-year growth 2021-2026 (%)

• 7.12 Market opportunity by geography 
• Exhibit 82: Market opportunity by geography ($ million)

8 Drivers, Challenges, and Trends

• 8.1 Market drivers

• 8.2 Market challenges

• 8.3 Impact of drivers and challenges 
• Exhibit 83: Impact of drivers and challenges in 2021 and 2026

• 8.4 Market trends

9 Vendor Landscape

• 9.1 Overview

• 9.2 Vendor landscape 
• Exhibit 84: Overview on Criticality of inputs and Factors of differentiation

• 9.3 Landscape disruption 
• Exhibit 85: Overview on factors of disruption

• 9.4 Industry risks 
• Exhibit 86: Impact of key risks on business

10 Vendor Analysis

• 10.1 Vendors covered 
• Exhibit 87: Vendors covered

• 10.2 Market positioning of vendors 
• Exhibit 88: Matrix on vendor position and classification

• 10.3 AccentCare Inc. 
• Exhibit 89: AccentCare Inc. - Overview
• Exhibit 90: AccentCare Inc. - Product / Service
• Exhibit 91: AccentCare Inc. - Key offerings

• 10.4 Amedisys Inc. 
• Exhibit 92: Amedisys Inc. - Overview
• Exhibit 93: Amedisys Inc. - Business segments
• Exhibit 94: Amedisys Inc. - Key offerings
• Exhibit 95: Amedisys Inc. - Segment focus

• 10.5 Bluebird Care network 
• Exhibit 96: Bluebird Care network - Overview
• Exhibit 97: Bluebird Care network - Product / Service
• Exhibit 98: Bluebird Care network - Key offerings

• 10.6 Brookdale Senior Living Inc. 
• Exhibit 99: Brookdale Senior Living Inc. - Overview
• Exhibit 100: Brookdale Senior Living Inc. - Business segments
• Exhibit 101: Brookdale Senior Living Inc. - Key offerings
• Exhibit 102: Brookdale Senior Living Inc. - Segment focus

• 10.7 CVS Health 
• Exhibit 103: CVS Health - Overview
• Exhibit 104: CVS Health - Business segments
• Exhibit 105: CVS Health - Key offerings
• Exhibit 106: CVS Health - Segment focus

• 10.8 Genesis Healthcare Inc. 
• Exhibit 107: Genesis Healthcare Inc. - Overview
• Exhibit 108: Genesis Healthcare Inc. - Business segments
• Exhibit 109: Genesis Healthcare Inc. - Key news
• Exhibit 110: Genesis Healthcare Inc. - Key offerings
• Exhibit 111: Genesis Healthcare Inc. - Segment focus

• 10.9 Kindred Healthcare LLC 
• Exhibit 112: Kindred Healthcare LLC - Overview
• Exhibit 113: Kindred Healthcare LLC - Product / Service
• Exhibit 114: Kindred Healthcare LLC - Key offerings

• 10.10 LHC GROUP INC. 
• Exhibit 115: LHC GROUP INC. - Overview
• Exhibit 116: LHC GROUP INC. - Business segments
• Exhibit 117: LHC GROUP INC. - Key offerings
• Exhibit 118: LHC GROUP INC. - Segment focus

• 10.11 Philips International BV 
• Exhibit 119: Philips International BV - Overview
• Exhibit 120: Philips International BV - Product / Service
• Exhibit 121: Philips International BV - Key offerings

• 10.12 ProMedica Health System Inc. 
• Exhibit 122: ProMedica Health System Inc. - Overview
• Exhibit 123: ProMedica Health System Inc. - Product / Service
• Exhibit 124: ProMedica Health System Inc. - Key offerings

11 Appendix

• 11.1 Scope of the report

• 11.2 Inclusions and exclusions checklist 
• Exhibit 125: Inclusions checklist
• Exhibit 126: Exclusions checklist

• 11.3 Currency conversion rates for US$ 
• Exhibit 127: Currency conversion rates for US$

• 11.4 Research methodology 
• Exhibit 128: Research methodology
• Exhibit 129: Validation techniques employed for market sizing
• Exhibit 130: Information sources

• 11.5 List of abbreviations 
• Exhibit 131: List of abbreviations

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