December 1, 2023

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Home Healthcare Global Market Report 2022

New York, July 01, 2022 (GLOBE NEWSWIRE) — announces the release of the report “Home Healthcare Global Market Report 2022” –

The global home healthcare market is expected to grow from $277.97 billion in 2021 to $306.78 billion in 2022 at a compound annual growth rate (CAGR) of 10.4%. The home healthcare market is expected to reach $427.95 billion in 2026 at a CAGR of 8.7%.

The home healthcare market consists of sales of home healthcare services by entities (organizations, sole traders, and partnerships) that are used to help individuals to improve health function as it helps to provide initial treatment and avoid hospitalization.Home healthcare refers to a set of activities conducted to keep the home healthcare equipment in working condition.

Home healthcare is supportive care provided by any professional caregiver in their respective homes where the patient is staying. It is a cost-effective way to deliver quality care at patients’ homes.

The main types of equipment in home healthcare are therapeutic, diagnostic, and mobility care.Therapeutic equipment refers to a set of activities conducted to keep them in working condition.

The therapeutic equipment includes home respiratory therapy, insulin delivery devices, IV pumps, and others. The different indications include cardiovascular disorders & hypertension, diabetes, respiratory diseases, pregnancy, cancer, wound care, and others and involve various services such as rehabilitation services, respiratory therapy services, infusion therapy services, and others.

North America was the largest region in the home healthcare market in 2021.Asia Pacific is expected to be the fastest-growing region in the forecast period.

The regions covered in the home healthcare market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

The home healthcare market research report is one of a series of new reports that provides home healthcare market statistics, including home healthcare industry global market size, regional shares, competitors with a home healthcare market share, detailed home healthcare market segments, market trends and opportunities, and any further data you may need to thrive in the home healthcare industry. This home healthcare market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The rapid increase in the aging population is significantly driving the growth of the home healthcare market going forward.The increase in the aging population will boost the demand for healthcare as the aged people are more prone to chronic diseases, which is a favorable factor to the home healthcare market, and increases the overall reach of various home health services.

This will reduce the unnecessary visits time involved in traveling, hospital admission, and others.For instance, in 2019, according to the United Nations Organisations, a US-based intergovernmental organization, 1 out of 11 people in the United States were above the age of 65, which will increase to 1 out of 6 people by 2050.

Therefore, the increase in the aging population is driving the growth of the home healthcare market.

Technological advancements have emerged as a key trend gaining popularity in the home healthcare market.Companies operating in the home healthcare market are adopting new technologies to reinforce their position in the market.

For instance, in August 2019, Zorgers, an India-based home healthcare company launched an Android app that aims to help monitor its patients remotely.When needed, the app also gives information on the patients’ health and navigation to caretakers.

It makes healthcare professionals’ lives easier and keeps them connected to the healthcare ecosystem all day.Caregivers can also benefit from the app by using it to keep track of their clients’ locations, addresses, and contact information.

As a result, when a new Carer joins the team, the app assists him or her in tracking the patient’s particular facts while also keeping the contact information secure.

In November 2021, Addus Homecare, a US-based company that provides home healthcare services acquired Armada hospice for a deal amount of $29 million.This acquisition helps Addus Homecare in creating multiple markets in various levels of home care services.

Armada Hospice is a US-based company that provides hospital and health care services.

The countries covered in the home healthcare market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
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