Home Healthcare Market Driven by the Penetration of Automation technology

Home healthcare for some has become a necessity as well as an affordable and effective option, akin to the hospital or skilled nursing facilities. Home healthcare is also known as domiciliary care, social care, or in-home care. In-home care is important for patients who lack mobility The goal of home healthcare services is to help the individuals to promote the patient optimal level of well-being and to assist them to remain at home avoiding hospital admission. The home care services are government certified and involve HCPs such as registered nurses (RNs), licensed practical nurses (LPN's), physical therapists (PTs), occupational therapists (OTs), speech-language pathologists (SLPs), unlicensed assistive personnel (UAPs), home health aides (HHAs), and medical social workers (MSWs).

According to the recently published report by IndustryARC, the global home healthcare market size was $230billion to $248billion in 2018, and the opportunities are estimated to grow with a global CAGR of 7.2% to 8.0% during the forecast period of 2019 to 2025.  The report is titled “Home Healthcare Market: By Products (Dialysis, Diabetes, Drug Delivery, Essential, Mobility, Respiratory & Others); Services (Rehabilitation, Skilled, Unskilled, Virtual, Hospice, Companion, Social & Others) - Forecast (2019 - 2025).”

According to the UNFPA, the population of older people in APAC is rising with a drastic rate. It is estimated that the aging population will reach to 1.3 billion by 2050. Huge amount of aging population mostly requires the devices that can monitor them constantly that is fueling the demand for the home healthcare market. 

According to the IndustryARC market analyst, North America is positioned as the key region in the global home healthcare market with a demand share of 38% to 45% in 2018. Moreover, according to a report by The United Nations, improvement in healthcare services, as well as easy availability of medical facilities to each patients, have decreased the mortality rate. Furthermore, the survival percentage is also increased in Oceania, Europe, and North America. Home healthcare involves different types of services such as rehabilitation, skilled, unskilled, virtual, hospice, companion, social, and others. However, the most preferred service that requires home healthcare is rehabilitation that will grow with a CAGR of 55% to 58% through to 2025, according to the estimation by the market analyst.

Some of the major key players in the market are Apple Home healthcare, Home Health Care, Inc, Home Healthcare Solutions, OMRON Corporation., Kindred Healthcare, Inc., Portea Medical|, Koninklijke Philips N.V., Air Liquide, Kinnser Software, Inc., LHC Group, Inc., National HealthCare Corporation., Sunrise Medical (US) LLC, arcadia.io., B. Braun Melsungen AG, Amedisys, BPL Medical Technologies, DaVita Inc., Diaverum, Cardinal Health, and Medtronicc.

Healthcare Equipment Market: By Type of Equipment (Diabetes care devices, Hearing aid devices, Drug delivery devices, Respiratory care devices & Patient monitoring devices), By Application (Home & Commercial) & By Region-Forecast (2018-2023)

Healthcare Supplies Market: By Product (Disposable, Mobility Aids & Transportation, Operating Room Equipment, Patient Examination Devices, Sterilization & Disinfectant Equipment & Syringes), By Application (Hospital & Labs) & By Region - Forecast(2018 - 2023)