US Home Healthcare Market (Services, Equipment & Software): Insights & Forecast with Potential Impact of COVID-19 (2020-2024)
NEW YORK, May 4, 2020 /PRNewswire/ -- The US home healthcare market is forecasted to reach US$133.1 billion in 2024, recording growth at a CAGR of 5% during the period spanning 2020-2024. The growth in the market was supported by various factors like surging aged population, increasing obese population, rising personal disposable income of the individuals and declining elderly support ratio. The market experienced certain challenges such as training requirements of the service providers and long-term health care as burdensome. The market growth is expected to be driven by the growing prevalence of chronic diseases and increasing adoption of digitalization.
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The US home healthcare market can be segmented as follows: services, equipment and software. In 2019, the highest share of the market was held by services segment, followed by equipment and software. The US home care market by service type can be segmented as follows: rehabilitation services, unskilled home care, respiratory therapy services, infusion therapy services and telemetry. The dominant share of the market was held by rehabilitation services, followed by unskilled home care services. The US home care market by mode of payment can be segmented into the following four categories: medicare, medicaid, self-payment mode and private insurance. In 2019, the dominant share of the market was held by medicare, followed by medicaid.
The US home healthcare market by equipment can be divided into the following seven segments: diabetic care unit, BP monitors, multi-para diagnostic monitor, home pregnancy & fertility kits, apnea and sleep monitors, holter monitors and heart rate meters. In 2019, the dominant share of the market was held by diabetic care unit, followed by BP monitors.
Scope of the report:
• The report provides a comprehensive analysis of the US home healthcare market with potential impact of COVID-19.
• The market dynamics such as growth drivers, market trends and challenges are analyzed in-depth.
• The competitive landscape of the market, along with the company profiles of leading players (AdaptHealth corp, Addus Home Care, Amedisys, Ensign Group, LHC Group and Encompass Health) are also presented in detail.
Key Target Audience:
• Home Care Providers
• Home Medical Equipment/Software Manufacturers
• End Users (Businesses/Consumers)
• Investment Banks
• Government Bodies & Regulating Authorities
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