In a recent published report, Kenneth Research has updated the market report for Home Healthcare Market for 2021 till 2030. Report further now discusses; the various strategies to be adopted or being adopted by the business players across the globe at various levels in the value chain. In the view of the global economic slowdown, we further estimated that China, India, Japan and South Korea to recover fastest amongst all the countries in the Asian market. Germany, France, Italy, Spain to take the worst hit and this hit is expected to be regain 25% by the end of 2021- Positive Growth in the economic demand and supply.
U.S. Market recovers fast; In a release on May 4th 2021, the U.S. Bureau and Economic Analsysis and U.S. Census Bureau mentions the recovery in the U.S. International trade in March 2021. Exports in the country reached $200 billion, up by $12.4 billion in Feb 2021. Following the continuous incremental trend, imports tallied at $274.5 billion, picked up by $16.4 billion in Feb 2021. However, as COVID19 still haunts the economies across the globe, year-over-year (y-o-y) avergae exports in the U.S. declined by $7.0 billion from March 2020 till March 2021 whilest imports increased by $20.7 billion during the same time. This definitely shows how the market is trying to recover back and this will have a direct impact on the Healthcare/ICT/Chemical industries, creating a huge demand for Home Healthcare Market products.
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Kenneth Research has recently added a report titled Home Healthcare Market in its storehouse of market research reports. The report provides a detailed insight into the market scenario on the basis of the market size and volume for the forecast period, i.e., 2021 2030. Factors such as the growing advancements in the development of novel drugs, coupled with the growing health infrastructure in several nations worldwide are anticipated to drive the growth of the market in the coming years. Moreover, increasing expenditure on healthcare, backed by the need amongst individuals for quality healthcare services, is also anticipated to contribute to the market growth.
According to the statistics by the World Bank, the current health expenditure (% of GDP) around the world increased from 9.08% in 2001 to 9.84% in 2018. Additionally, the current health expenditure per capita (current US$) increased from USD 492.99 in 2001 to USD 1110.84 in 2018. Moreover, growing concern for deaths caused due to various diseases and the need for treatment that can lower the crude death rate, which in the year 2019 recorded close to 7% (per 1000 people), are also anticipated to drive the market growth during the forecast period.
The rising geriatric population globally and increasing workforce of home healthcare service providers. Moreover, increasing demand for home healthcare, and large number of population suffering from chronic disease that require long term care would retain the home healthcare market. While, increasing mergers and acquisitions between the manufacturers to tap the potential market will also influence the entire industry. However, high cost of service providers can hinder market in the near future.
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The major players in the market include GE Healthcare, McKesson Corporation, Roche Holding AG, Linde Corporation, Abbott Laboratories, Omron Healthcare, Philips Healthcare, A&D Company, Kindred Healthcare, LHC Group, Fresenius, Kinnser Software.
home healthcare market
Regionally, North America holds the major share of the global home healthcare market. This report cover the following regions: North America, Europe, Asia-Pacific, Latin America, and MEA. In terms of geography, North America accounted majority share in the global market due to huge number of older population that require home care. While, Asia Pacific has a profitable market during the forecast period. This growth is primarily driven by the increasing investment and awareness for home care services in the developing countries on improving the healthcare infrastructure.
Key Take away
Based on product type, service dominate the market in 2017.
On the basis of geography, the North America’s region dominates the home healthcare market. whereas, Asia Pacific is would notice high growth rate during the forecast period.
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Polaris Market Research has segmented the global Home Healthcare market on the basis of Product Type and region type:
Home Healthcare By Product Type (Revenue, USD Billion, 2015 – 2026)
Equipment
Service
Home Healthcare By Geography (Revenue, USD Billion, 2015 – 2026)
North America
U.S.
Canada
Europe
UK
Germany
France
Italy
Spain
Asia-Pacific
China
Japan
India
Australia
Latin America
Brazil
Mexico
Rest of Latin America
Middle East & Africa
South Africa
Rest of Middle East & Africa
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