North America Home Healthcare Market

Market Introduction

Home healthcare market includes a wide range of healthcare services for illness in homecare settings. The goal of home healthcare is to treat injury and improve health outcomes for the patient. These services are more convenient and less expensive and are efficient for chronic diseases, elderly population, nutrition therapy and serious illness of the patient.

Market Overview and Dynamics

The North America home healthcare market is expected to reach US$ 246,889.35 million by 2028 from US$ 134,836.10 million in 2021; it is estimated to grow at a CAGR of 9.0% from 2021 to 2028. The growth of the market is attributed to the increasing prevalence of cancer and other chronic diseases, development in the medical device industry, and increasing home healthcare settings due to growing geriatric population in the region. However, limited insurance coverage and patient safety concerns are obstructing the growth of the market.

Home healthcare encompasses a wide range of healthcare services provided for managing illnesses at home. As per the Centers for Disease Control and Prevention (CDC), 6 in 10 people in the US suffered from at least one chronic disease in 2019. Growing support from the government to encourage establishment of home care settings by encouraging the launch of product required for home care settings are the prominent factors supporting the growth of the home healthcare market in North America. Countries such as the US and Canada have been supporting the hospital-at-home programs that confer flexibility to hospitals to provide their patients with hospital-level care in their homes. Moreover, various strategies adopted by the home care setting industry players, including product launches, collaborations, and innovations, are accelerating the market growth.

As COVID-19 continues to burden health care institutions, the preference for home-based care is growing at a rapid pace. The COVID-19 pandemic has a mixed impact on the North America home healthcare market. It is boosting the adoption of home healthcare monitoring products such as blood glucose monitors, blood pressure monitors, pulse oximeters, and temperature monitors. However, many other companies and service providers have experienced decline in sales due to the discontinuation of manufacturing operations and disruption of supply chains. However, this downturn in is expected to continue for a short term, as the business are gradually picking pace post lockdown. Also, increasing collaborative efforts between service providers is offering lucrative opportunities for the market growth. The pandemic has encouraged trends favoring home care as an alternative to frequent hospital visits.

Key Market Segments

The North America home healthcare market, by product type, is segmented into therapeutic, diagnostic, and mobility assist. The therapeutic segment held the largest share of the market in 2020. Further the diagnostic segment is anticipated to register the highest CAGR in the market during the forecast period.

The North America home healthcare market by indication, is segmented into cancer, respiratory diseases, mobility disorders, cardiovascular disorders, pregnancy, wound care, diabetes, and other indications. The cancer segment held the largest share of the market in 2020. However, the mobility disorders segment is anticipated to register the highest CAGR in the market during the forecast period.

The North America home healthcare market, by service, is segmented into skilled nursing, rehabilitation therapy, hospice and palliative care, unskilled care, respiratory therapy, infusion therapy, and pregnancy care. The skilled nursing segment held the largest share of the market in 2020. Further, the hospice and palliative care segment is anticipated to register the highest CAGR in the market during the forecast period.

Major Sources and Companies Listed

A few of the primary and secondary sources associated with this report on the North America home healthcare market are the American Society for Gastrointestinal Endoscopy (ASGE), InterAmerican Heart Foundation (FIC), and Centers for Disease Control and Prevention (CDC).

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NORTH AMERICA HOME HEALTHCARE MARKET SEGMENTATION

By Product Type

• Therapeutic
• Diagnostic
• Mobility assist

By

Indication

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

By Service

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

By Country

• US
• Canada
• Mexico

Company Profiles

• 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

North America Home Healthcare Strategic Insights

Strategic insights for the North America Home Healthcare provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Home Healthcare Report Scope

North America Home Healthcare Regional Insights

The geographic scope of the North America Home Healthcare refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.