Home Healthcare Market Envisions a Valuation of US$ 4.4 Billion by 2033-FMI Projection

The Home Healthcare Market is expected to be valued at US$ 3.2 billion in 2023 and to grow to US$ 4.4 billion by 2033. During the forecast period, the market is expected to grow at a CAGR of 3.1%.

By the end of 2030, the home health care market is anticipated to generate more than US$ 4 billion in global market revenues. The future growth of the global home healthcare industry is anticipated for a variety of reasons. These include chronic illnesses, the rise in the geriatric population who find it difficult to visit hospitals and other diagnostic facilities repeatedly, the government’s efforts to promote home healthcare, the rising cost of healthcare, the expanding demand for treatments at affordable prices, and technological advancements in the pharmaceutical and medical fields.

However, factors like stern reimbursement policies, the safety issues of patients, as well as the low insurance coverage are acting as hurdles for the growth of home healthcare market. The players operating in the global home healthcare market are predicted to get new income sources because of the drifting trend towards telehealth and wide unfulfilled demand from the emerging economies but only if they can meet the needs of skilled home care employees.

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It is predicted that the global home healthcare market will have a significant success in the time to come. With the help of home health care, the patients receive a lot of treatments right from their homes and the home healthcare market is seen to be growing in popularity in cases where the patient does not need any major treatments, and it is also cheaper in comparison to the treatments in hospitals.

Global Home Health Care Market: Trends and Opportunities :

In today’s generation where most of the services can be availed from any place, it is only the healthcare services that still require to be held in a particular and professionally controlled environment. But with the change in the attitude of consumers now require quality services right from their houses is making it necessary to decentralize health care services and provide the patients with what they prefer.

The factors that are boosting the global home healthcare market are the growth in the number of old people, the growing number of reoccurring illnesses, the favourable steps that the government has undertaken as well as the increasing need for cheap healthcare services. The primary drivers of the global home healthcare market are the growing demand for testing, monitoring, mobility care products, therapeutic products, as well as screening products, and among all these it is the need for products that are taken into use for testing for diagnosis of illnesses that are on the higher side.

Regions covered — North America (US & Canada), Europe (UK, Germany, France, Spain, Italy, Russia, BENELUX and Rest of Europe), Latin America (Brazil, Mexico, and Rest of LA), East Asia (China, Japan and South Korea) South Asia (India, Indonesia, Malaysia, Thailand and Rest of South Asia), Oceania (Australia and New Zealand) and MEA (GCC, South Africa, Turkey, Northern Africa and Rest of MEA)

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The major players in the market include:

• Coloplast A/S
• Braun Melsungen AG
• Baxter International Inc
• Hollister Incorporated
• Becton Dickinson and Co
• ConvaTec Group Plc
• Medtronic plc..

Application:

• Total Parenteral Nutrition (TPN)
• IV Medication
• Pressure Ulcers
• Stoma Care

Key Segments:

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

By Region:

• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• The Middle East & Africa (MEA)

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Author By:

Sabyasachi Ghosh (Associate Vice President at Future Market Insights, Inc.) holds over 12 years of experience in the Healthcare, Medical Devices, and Pharmaceutical industries. His curious and analytical nature helped him shape his career as a researcher.

Identifying key challenges faced by clients and devising robust, hypothesis-based solutions to empower them with strategic decision-making capabilities come naturally to him. His primary expertise lies in areas such as Market Entry and Expansion Strategy, Feasibility Studies, Competitive Intelligence, and Strategic Transformation.

Holding a degree in Microbiology, Sabyasachi has authored numerous publications and has been cited in journals, including The Journal of mHealth, ITN Online, and Spinal Surgery News.

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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