Global home healthcare market is projected to reach a valuation of $447.6 billion by the end of 2025 with a target CAGR of 8.3% over the forecast period. The report provides an in-depth analysis of current market dynamics along with a meticulous synopsis of future trends.
According to the report, the key factors fostering the global home healthcare market size are the growing geriatric population worldwide and expanding home healthcare service workforce. Additionally, the rise in the number of people diagnosed with chronic disorders that demand long term care along with the high demand for home healthcare services would drive market growth over the predicted timeline. The increasing number of M&As between major manufacturers in order to tap the market potential will also positively impact the industry trends. However, high cost associated with the services might pose challenges to the growth of home healthcare market, cites the study.
The report elucidates the regional growth spectrum of home healthcare market along the key topographies including Europe, North America, Asia-Pacific, Middle East and Africa and Latin America. In terms of regional growth, the North America market holds the majority share of the global home healthcare market due to the rapidly growing geriatric population base, that demands a higher ratio of home care. Meanwhile, the Asia Pacific market is projected to prevail as a lucrative market over the forecast timeframe, on account of substantial investments and rising awareness for home care services within emerging economies on enhancing the healthcare infrastructure.
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The report also delivers a comprehensive analysis of the home healthcare market in terms of drivers, restraints, and opportunities over the estimated timeline. An in-depth analysis of the market on the basis of component type, competitive scenario, and regional landscape is also contained within the report. In addition, company profiles of market majors have been highlighted in the report under the heads of business overview, product benchmarking, financials, and recent developments.
Additionally, the report also provides industrial analysis using Porter’s five forces pertaining to the bargaining power of supplier, bargaining power of buyer, the threat of substitute, the threat of new entrant, and degree of competition. Furthermore, the home healthcare market dynamics are outlined through PEST analysis, value chain analysis, industry trends, and competitive ranking analysis.
The major players operating in the competitive landscape of the global home healthcare market include McKesson Corporation, GE Healthcare, Roche Holding AG, Abbott Laboratories, Linde Corporation, Omron Healthcare, A&D Company, Philips Healthcare, Kindred Healthcare, Fresenius, Kinnser Software, and LHC Group among others. Pivotal business tactics of these companies include acquisition and collaboration with the peers along with enhancement of product offerings aiming toward expanding the customer base.