Dublin, Dec. 29, 2022 (GLOBE NEWSWIRE) — The “Global Home Health Market by Product, by Service and by Region – Forecast Analysis 2022-2028” the report has been added to ResearchAndMarkets.com’s The offer of
The global home health market size was estimated at USD 301.09 billion in 2021 and is expected to reach a value of USD 514.68 billion by 2028, with a CAGR of 7.96% during the forecast period (2022-2028).
Increasing the daily dose of medication for the elderly while at home has been made possible by the development of portable devices and easy-to-use items. This movement has occurred from health care settings to home care settings. Because of this, traditional health care sites are providing more home health care services. With remote data access via smart insulin pens, patients can check their insulin levels at home without visiting a doctor, which lowers total costs.
Additionally, it enables doctors to monitor patients’ health remotely, providing clear communication between patients and caregivers. Relationship-based home care targets care recipients who are independent and in good health while simultaneously addressing urgent needs. Geriatrics and people with disabilities can benefit in countless ways from relationship-based home care.
Segments covered in this report
The global home health market is segmented on the basis of product, service, component, indicator and region. On the basis of the product it is categorized into Testing, Examination and Monitoring Products, Mobility Care Products and Therapeutic Products. Based on the service, it is categorized into Skilled Nursing Services, Rehabilitation Therapy Services, Health and Palliative Care Services, Unskilled Care Services, Respiratory Therapy Services, Infusion Therapy Services and Pregnancy Care Services. Based on Component, it is categorized into Equipment and Services. Based on the indications, it is categorized into Cardiovascular Disorders and Hypertension, Diabetes, Respiratory Diseases, Pregnancy, Movement Disorders, Hearing Disorders, Cancer, Wound Care and Other Indications. Based on region, it is categorized into North America, Europe, Asia-Pacific, South America and MEA.
Driver
Aging population, increasing rates of target diseases such as dementia and Alzheimer’s, and orthopedic diseases are all anticipated to drive market expansion. Governments and health organizations are working to reduce healthcare spending as one of their main concerns is the rising cost of treatments. An affordable alternative to an expensive hospital stay is home health care.
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In home care, there is less face-to-face interaction between the nurse and physician, and the nurse is responsible for performing assessments and sharing results. Patient safety and outcomes are affected by this factor. Additionally, the limitation of industry expansion leads to a shortage of home health professionals.
Market Trends
To gain a competitive advantage, market participants are expanding their service offerings. The need for home health services is increasing with increasing cases of cardiovascular disease, diabetes and respiratory problems. Industry participants in the global home health market must focus on providing patients with high-quality, low-cost care.
As these services offer safer and more affordable alternatives to hospital services, there has been an increase in public awareness of home health services in recent years. Additionally, in response to the threat of COVID-19 and the expansion of home services, service providers are increasing their product lines.
| The report attribute | The details |
| number of pages | 55 |
| Forecast period | 2021 – 2028 |
| Estimated market value (USD) in 2021 | 301.09 billion dollars |
| Estimated market value (USD) by 2028 | 514.68 billion dollars |
| Compound Annual Growth Rate | 7.9% |
| Regions covered | global |
The companies mentioned
- McKesson Medical-Surgical Inc
- F. Hoffmann-La Roche Ltd
- Fresenius Medical Care
- Medtronic PLC
- 3M Healthcare
- Baxter International Inc
- B. Braun Melsungen AG
- Arkray, Inc
- Becton, Dickinson and Company
- Aceility LP
For more information about this report visit https://www.researchandmarkets.com/r/p406xf
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