Home Healthcare Services Market Report

Market Insights

The home healthcare services market is likely to witness an impressive CAGR of >8% during the forecast period of 2022-2028.

The services provided by the home healthcare providers are more beneficial than the services provided in nursing care facilities, hospitals and other living facilities. The benefits offered by them are - customized and specialized care services, assistance to seniors in using connected healthcare services and reduction in the cost of care by reducing hospital stays. Such benefits along with tremendous growth in connected healthcare service market is creating a high demand and growth in the global home healthcare services market.

Some of the factors bolstering the growth of the market are-

• growing global geriatric population along with rising interest of older people to live independently at their own homes
• increasing cases of chronic diseases and reducing mobility among seniors which is increasing the need of specialized care services for them,etc.  

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Segment Analysis

By Service Type

Based on the service type, the home healthcare service market is broadly classified as medical care, non-medical care and both medical and non-medical care in combination. The medical care services which can be defined as the services related to health and medical condition of the patient or client, majorly include skilled nursing services, physical therapy, speech therapy, infusion therapy, psychiatric care, medication management, and assistance in rehabilitations. Whereas, non-medical services majorly include preparing meals, housekeeping, and assisting clients in doing other daily activities. The client who requires both medical care and non-medical care services are included under the third segment which is the combination of both.

By Application Type

By identifying the type of services required by the clients, the home healthcare services market is segmented on the basis of nature of application of services as therapeutic services, diagnostic & monitoring services, and others.  The therapeutic segment led the market in 2021.

By Region

In terms of regions, the North America remained dominant in the home healthcare services market in 2021. The USA is the largest market for home healthcare services. The country’s position in the market is attributed to the high growth of geriatric population owing to the highest proportion of citizens belonging to baby boomer’s generation along with rising demand among seniors to live at their homes. Changing healthcare policies in the USA such as inclusion of non-skilled in-home care in Medicare Advantage program from 2019 is rejuvenating the market for home health care services in the USA. The significant advantages of the home healthcare service such as reduction in cost of hospital bills, are driving high growth in the market in the European region as well.

Segmentation

The home healthcare services market is segmented into the following categories. 

By Service Type:

• Medical Care
• Non-Medical Care
• Combination

By Application Type:

• Therapeutic
• Diagnostic & Monitoring
• Others

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, and Rest of Europe)
• Asia-Pacific (Country Analysis: Australia, New Zealand, China, Japan, India, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

Key Players

Some of the major players in the home healthcare services market are-

• Amedisys, Inc.
• American Homepatient
• ATC Healthcare Inc.
• Chemed Corporation
• CVS Health Corporation
• LHC Group, Inc.
• Kindred Healthcare
• Koninklijke Philips N.V
• The Blackstone Group L.P.

Research Methodology

This report offers high-quality insights and is the outcome of detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact book, press release, journals, investor presentation, white papers, patents, and articles have been leveraged to gather the data. We usually conduct more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both the qualitative and quantitative insights.

Report Features

This strategic assessment report, from Stratview Research, provides a comprehensive analysis that reflects today’s home healthcare services market realities and future possibilities for the forecast period of 2022 to 2028. The report segments and analyzes the market in the most detailed and comprehensive manner to provide a panoramic view of the market. The vital data/information provided in the report can play a crucial role for market participant as well as investors to identify low-hanging fruits available as well as formulate growth strategies.

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

• Market structure: Overview, industry life cycle analysis, supply chain analysis
• Market environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
• Market trend and forecast analysis
• Market segment trend and forecast
• Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
• Attractive market segments and associated growth opportunities
• Emerging trends
• Strategic growth opportunities for the existing and new players
• Key success factors

Report Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the category types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com.