Home Healthcare Market Share 2023 to 2033 | By Baxter, ConvaTec, Medtronic, Coloplast, Humana

The Home Healthcare Market Revenue is anticipated to be worth US$ 3.2 billion in 2023 and US$ 4.4 billion by 2033. The market is estimated to increase at a CAGR of 3.1% during the forecast period.

The increased need for home healthcare, as well as an increase in chronic patients, complex drugs, and an ageing population, are driving market growth. Rising disposable income, the inability to access daily treatment, and advances in home-care technologies are all driving an increase in the usage of Home Healthcare. Increased innovation in in-home healthcare services to reduce high costs and emergency visits also contributes to market possibilities.

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Patients’ preference for having treatment at home rather than travelling to a hospital and waiting in long lines is propelling business growth. The number of impaired people is increasing, and government measures are broadening the potential for the Home Healthcare sector. The growing use of telehealth to improve the performance of virtual medical, monitoring, and educational services is driving the market share.

As skilled nursing, therapeutic goods, and rehabilitation treatment services become more widely available, home healthcare is becoming more popular. Other Home Healthcare services, such as hearing aids, diabetes, and respiratory ailment care, contributed to market expansion.

Growing Healthcare Infrastructure Drive the United States Market

The United States had a CAGR of 3.5% over the predicted period, accounting for a valuation of US$ 1.3 billion. In the United States, the expanding use of advanced healthcare equipment, urbanisation, and an ageing and ill population drive the Home Healthcare business. Demand for Home Healthcare is being driven by the rising use of modern devices, wearable monitoring equipment, and private home health services. The United States experienced a 2.9% CAGR between 2017 and 2022.

Key Takeaways:

• By 2033, the Home Healthcare market is estimated to be worth $4.4 billion.
• From 2022 to 2033, the global market will grow at a CAGR of 3.1%.
• The Home Healthcare industry in the United States is expected to grow at a 3.5% CAGR through 2033.
• The United Kingdom market is expected to grow significantly during the projected period, with a CAGR of 3.9%.
• Over the forecast period, the China market is expected to grow at a CAGR of 2.9%.
• From 2023 to 2033, the Japan market will grow at a CAGR of 3.4%.

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Competitive Landscape:

The key market players play a significant role in the global market by capturing maximum revenue. These players are developing innovative devices for daily home check-ups by adopting new technology. Healthcare providers are focused on developing easy-to-use medical equipment equipped with artificial intelligence.

The increasing popularity of online distribution channels is driving market expansion. Key marketers are adopting various marketing strategies, including mergers, acquisitions, agreements, collaborations and partnerships.

Other Key Players in the Market are:

• Coloplast A/S
• B. Braun Melsungen AG
• Baxter International Inc.
• Hollister Incorporated
• Becton Dickinson and Co
• ConvaTec Group Plc
• Medtronic plc.
• Amedisys Home Health and Hospice Care
• American Well
• CVS Health
• Humana Inc.
• LHC Group Inc.
• Kindred Healthcare

Recent Developments in the Market are:

• In Mar 2022, Axxess launched its new software named Palliative Care Software. This software is developed with the latest technology and can control at-Home Healthcare services.
• In Feb 2022, CVS Pharmacy launched new healthcare products such as easy-fold travel walks, convertible shower chairs, and comfort grip canes.

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Home Healthcare Market Segmentation by Category

By Product Type:

• Infusion Systems
  • Ambulatory Infusion Pumps
  • Implantable Infusion Pumps
  • Infusion Disposable Sets
  • Syringe Pumps
  • Volumetric Pumps
• Pressure Relief Devices
  • Mattress Overlays
  • Mattresses
  • Specialty Beds
• Hydrocolloids Dressings
• Hydrofibres Dressings
• Hydrogels Dressings
• Semi-permeable Films Dressings
• Superabsorbents Dressings
• Wound Contact Layers
• Gauze Sponges
• Gauzes
• Sponges
• Ostomy Drainage Bags

By Application:

• Total Parenteral Nutrition
• IV Medication
• Pressure Ulcer
• Stoma Care

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Future Market Insights, Inc. (ESOMAR certified, Stevie Award – recipient market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.

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