Home Healthcare Market is expected to reach US$ 621,565.89 Mn by 2028

Rising Aging Population and Increasing Prevalence of Chronic Diseases Drives Growth of Home Healthcare Market.

According to our latest market research study on “Home Healthcare Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type, Service, and Indication,” the market is expected to reach US$ 621,565.89 million by 2028 from US$ 315,139.27 million in 2020; it is estimated to grow at a CAGR of 8.9% from 2020 to 2028. The report highlights the trends prevailing in the market, along with market drivers and deterrents.

Based on product type, the global home healthcare market is segmented into therapeutic, diagnostic, and mobility assist. In 2020, the therapeutic segment held the largest share in the market. Moreover, the market for the diagnostic segment is expected to grow at the highest rate by 2028. A physician may recommend the benefits of home health therapy services following surgery, injury, or illness. Home therapy provides three different forms of care treatment—physical therapy, occupational therapy, and speech therapy. This factor is likely to boost the demand for home healthcare across the world during the forecast period.

The factors such as growing demand for home healthcare due to aging population and rising prevalence of chronic diseases and increasing homecare settings drive the market growth. However, the shortage of home care workers hinders the market growth.

The COVID-19 pandemic is having the mixed impact on the home healthcare market. Since the home healthcare sector comprises both products and services, each has its own set of effects. The outbreak pandemic will positively impact on sales variety of home healthcare monitoring devices, such as blood glucose monitors, blood pressure monitors, pulse oximeters, and temperature monitors. On the other side, disruptions in the supply chain caused due to the halt in global operations are hindering the market growth. 

A few prominent players operating in the home healthcare market are Fresenius SE & Co. KGaA; General Electric Company; LINDE; F. HOFFMANN-LA ROCHE LTD.; A&D Company, Limited; LHC Group, Inc.; BAYADA Home Health Care; Invacare Corporation; Abbott Care; Amedisys; and Kindred Healthcare, LLC.

Market players are launching new and innovative products and services to sustain their position in the home healthcare market. For instance, in April 2021, Humana announced an agreement to fully acquire Kindred at Home. Humana will acquire the remaining 60% of Kindred at Home. The company purchased 40% ownership stake in 2018, and since then has collaborated closely with Kindred at Home. The transaction is expected to close in the third quarter of 2021.

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Home Healthcare Market, by Region, 2020 (%)

The report segments the global home healthcare market as follows:

• Therapeutic
• Diagnostic
• Mobility Assist

• Cancer
• Respiratory Diseases
• Cardiovascular Disorders
• Mobility Disorders
• Wound Care
• Diabetes
• Pregnancy
• Other Indications

• Skilled Nursing
• Rehabilitation Therapy
• Hospice and Palliative Care
• Unskilled Care
• Respiratory Therapy
• Infusion Therapy
• Pregnancy Care

• North America
  • • US
    • Canada
    • Mexico
• Europe
  • • UK
    • Germany
    • France
    • Italy
    • Spain
    • Rest of Europe
• Asia Pacific (APAC)
  • • Japan
    • China
    • India
    • Australia
    • South Korea
    • Rest of Asia Pacific
• Middle East & Africa (MEA)
  • • South Africa
    • UAE
    • Saudi Arabia
    • Rest of Middle East & Africa
• South and Central America (SCAM)
  • • Brazil
    • Argentina
    • Rest of South and Central America