DUBLIN--(BUSINESS WIRE)--The "U.S. Home Healthcare Market Size, Share & Trends Analysis Report by Component (Equipment, Service), and Segment Forecasts, 2022-2030" report has been added to ResearchAndMarkets.com's offering.
The U.S. home healthcare market size is expected to reach USD 253.6 billion by 2030, expanding at a CAGR of 7.49%
The growing incidences of chronic conditions such as diabetes, cancer, cardiovascular diseases, etc., and the rising geriatric population is expected to fuel the market over the next few years.
According to American Heart Association, about 83.6 million adults in the U.S. suffer from one or more types of cardiovascular diseases, of which, about 42.2 million adults are estimated to be more than 60 years of age. As patients prefer to stay at home due to reduced cost of care, as compared to a healthcare facility, the disease prevalence positively impacts the demand for home healthcare services and equipment.
The onset of the COVID-19 pandemic led to initiatives by care providers to promote care at home by introducing programs such as SNF-at-home and hospital-at-home. Although the pandemic had a positive impact on demand for home healthcare, it contributed to staffing challenges faced by home healthcare providers prior to the pandemic.
Some of the contributing factors included lower wages & risk of COVID-19 infection. According to a survey by the Homecare Association of America, 77% of home care workers did not have enough masks, creating a major safety concern.
U.S. Home Healthcare Market Report Highlights
- The services segment held the largest market share in terms of revenue during 2021. However, the equipment segment is expected to register the fastest growth during the forecast period due to factors such as the growing shift from hospital to care at home, ease of treatment & diagnosis at home, and reduced costs.
- Product innovation and mergers & acquisitions are some of the important strategies adopted by manufacturers. For instance, in March 2021, Texas Health Resources and Kindred Healthcare, LLC acquired Everest Rehabilitation Hospital, Keller, Texas. The hospital provides services for patients recovering from long-term injuries or illnesses.
- There is major competition between several small & large home healthcare providers in the U.S. The launch of the Patient-Driven Groupings Model (PDGM) is benefiting the large players, however, can present certain challenges to small players leading to their exit from the market.
Market Dynamics
Market Driver Analysis
- Growing geriatric population and increasing prevalence of chronic diseases
- Favorable reimbursement for home healthcare equipment
- Rapid technological advancement
- Home healthcare as a cost-effective alternative
Market Restraint Analysis
- Shortage of workforce
- Complicated reimbursement framework and reimbursement cuts
- Risks associated with home healthcare equipment
Key Topics Covered:
Chapter 1 Methodology and Scope
Chapter 2 Executive Summary
2.1 Market Outlook
2.2 Segment Outlook
2.3 Competitive Insights
Chapter 3 U.S. Home Healthcare Service Market-Industry Outlook
3.1 Market Lineage Outlook
3.1.1 Parent Market
3.1.2 Related/Ancillary Market
3.2 Penetration & Growth Prospect Mapping
3.3 Regulatory Scenario & Reimbursement Framework
3.3.1 Regulatory Scenario
3.3.2 Reimbursement Framework
3.4 Impact of COVID-19
Chapter 4 U.S. Home Healthcare Market: Component Analysis
4.1 Component Movement Analysis & Market Share, 2021 & 2030
4.2 Component Segment Dashboard
4.2.1 Equipment
4.2.1.1 Equipment market, 2017-2030 (USD Million)
4.2.1.2 Therapeutic Equipment
4.2.1.2.1 Therapeutic equipment market, 2017-2030 (USD Million)
4.2.1.2.2 Home respiratory equipment
4.2.1.2.3 Home IV pumps
4.2.1.2.4 Home dialysis equipment
4.2.1.2.5 Insulin delivery
4.2.1.3 Diagnostic Equipment
4.2.1.3.1 Diagnostic equipment market, 2017-2030 (USD Million)
4.2.1.3.2 Diabetic care unit
4.2.1.3.3 BP monitors
4.2.1.3.4 Multi para diagnostic monitors
4.2.1.3.5 Apnea and sleep monitors
4.2.1.3.6 Home pregnancy and fertility kits
4.2.1.3.7 Holter monitors
4.2.1.3.8 Heart rate meters
4.2.1.4 Mobility Assist Equipment
4.2.1.4.1 Mobility assist equipment market, 2017-2030 (USD Million)
4.2.1.4.2 Wheelchair
4.2.1.4.3 Home Medical Furniture
4.2.1.4.4 Walking Assist Devices
4.2.2 Service
4.2.2.1 Service market, 2017-2030 (USD Million)
4.2.2.2 Skilled Home Healthcare Services
4.2.2.2.1 Skilled home healthcare market, 2017-2030 (USD Million)
4.2.2.2.2 Nursing care
4.2.2.2.3 Physician/primary care
4.2.2.2.4 Hospice & palliative care
4.2.2.2.5 Physical/occupational/speech therapy
4.2.2.2.6 Nutritional Support
4.2.2.3 Unskilled Home Healthcare Services
Chapter 5 Competitive Landscape
- Mckesson Medical-Surgical, Inc.
- Nxstage Medical (Fresenius Medical Care)
- Medline Industries Inc.
- Medtronic plc
- Healthcare
- Baxter International Inc.
- B. Braun Melsungen AG
- Hoffman-La Roche AG
- Becton, Dickinson and Company
- Kindred Healthcare, LLC
- Brookdale Senior Living Inc.
- Sunrise Senior Living, LLC
- Genesis Healthcare
- Sonida Senior Living. (Capital Senior Living Corporation)
- Diversicare Healthcare Services, Inc.
- Senior Care Center
- Atria Senior Living, Inc.
- Amedisys, Inc.
- Home Instead, Inc.
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