Jersey City, NJ, May 04, 2023 (GLOBE NEWSWIRE) -- InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the Global Hospital-At-Home Market Size, Share & Trends Analysis Report By Products (Therapeutic, Testing, Screening And Monitoring Products, And Mobility Care Products), Services (Skilled Nursing, Rehabilitation Therapy, Hospice & Palliative Care, Unskilled Care, Respiratory Therapy, Infusion Therapy And Pregnancy Therapy) And Disease Indications (Cardiovascular Disorders & Hypertension, Diabetes, Respiratory Diseases, Pregnancy, Mobility Disorders, Cancer, Wound Care )- Market Outlook And Industry Analysis 2031.
According to the latest published InsightAce report Hospital-At-Home Market is estimated to reach over USD 514.08 billion by 2031, exhibiting a CAGR of 8.62% during the forecast period 2023-2031.
Home healthcare refers to a variety of medical therapies offered to address a patient's condition or injury in the convenience of their own home. Countless options are available to patients who want to get home health care. Depending on each patient's situation, care might range from nursing to specialized medical treatments, such as laboratory workups. Due to declining birth rates and rising life expectancy, the world's population is aging quickly. This could lead to a high frequency of chronic diseases and increasing demand for home healthcare services and software. The elderly population is anticipated to significantly affect the market.
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"The Hospital-At-Home Market is anticipated to develop as a result of the aging population, rising incidence of targeted disorders such as Alzheimer's and memory loss, as well as orthopedic diseases". Politicians and health organizations are working to decrease healthcare expenditures since one of their top concerns is the rising cost of treatment. Healthcare provided at home is more affordable than a costly hospital stays.
In emerging nations, non-communicable illnesses are now more prevalent due to improvements in medicine. Sedentary habits and heavy alcohol use are the main causes of the rise in the prevalence of lifestyle diseases. The market is anticipated to be pushed by an increase in the incidence of long-term care-related target diseases such as dementia and Alzheimer's.
Recent Developments:
- In May 2022, GE Healthcare has agreed to invest up to $50 million in the Israeli startup Pulsenmore, signaling another strategic step forward in enabling precision health. This investment aims to accelerate the global adoption of Pulsenmore's homecare ultrasound solutions and will support the company's pursuit of U.S. Food and Drug Administration clearance and commercial growth.
- In Oct 2021, Portea Medical has secured a $7.7 million local currency guarantee facility from the United States International Development Finance Corporation (DFC). The DFC-guaranteed loan will be used to support the rapid expansion of Portea Medical's business through digitalization, expansion of service offerings, geographic expansion, and the development of home healthcare delivery channels.
List of Prominent Players in the Hospital-At-Home Market:
- GE Healthcare
- 3M Healthcare
- A&D Company
- Abbott Laboratories
- Acelity L.P.
- Almost Family
- Amedisys
- Arkray, Inc.
- B. Braun Melsungen AG
- Baxter International Inc.
- BAYADA Home Health Care
- Becton, Dickinson And Company
- ConvaTec Group PLC
- F. Hoffmann-La Roche AG
- Fresenius Medical Care
- Hollister Inc.
- INVACARE CORPORATION
- Kindred Healthcare
- Kinnser Software
- LHC Group
- Linde Corporation
- McKesson Medical-Surgical Inc.
- Medline Industries, Inc.
- Medtronic PLC
- Molnlycke Health Care
- Omron Healthcare
- Philips Healthcare
- Portea Medical
- RESMED
- Roche Holding AG
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| Report Attribute | Specifications |
| Market size value in 2022 | USD 247.49 Bn |
| Revenue forecast in 2031 | USD 514.08 Bn |
| Growth rate CAGR | CAGR of 8.62 % from 2023 to 2031 |
| Quantitative units | Representation of revenue in US$ Billion, and CAGR from 2023 to 2031 |
| Historic Year | 2019 to 2022 |
| Forecast Year | 2023-2031 |
| Report coverage | The forecast of revenue, the position of the company, the competitive market statistics, growth prospects, and trends |
| Segments covered | Products, Services And Disease Indications |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S.; Canada; U.K.; Germany; China; India; Japan; Brazil; Mexico; The UK; France; Italy; Spain; China; Japan; India; South Korea; Southeast Asia; South Korea; Southeast Asia |
Market Dynamics:
Drivers:
The prevalence of target diseases, like Alzheimer's and insanity and orthopedic diseases, is predicted to rise along with the aging population. Governments and health organizations are working to control healthcare expenses since one of their concerns is the rising cost of treatments. Healthcare provided at home is more affordable than using pricey medical facilities.
The continued rise in elderly individuals will considerably support the market for home healthcare. This disposable household income mostly enables people to control healthcare spending. There is a constant increase in the demand for home healthcare services and home nursing care worldwide. The popularity of home healthcare is growing, and it is becoming a more popular choice due to factors like the high expense of hospital treatment, the convenience of recovering at home, and its affordability. These gadgets are also popular in economically developed and underdeveloped regions.
Challenges:
The main issue is a need for more knowledge about technological items in developing nations, which is expected to slow the expansion of the home healthcare market. However, the availability of experienced workers with specialized skills and the high cost of home healthcare items will likely impede the market's expansion in the upcoming years.
Regional Trends:
North America hospital-at-home dominates the market position. This nation is a market leader because of significant investment in the healthcare sector and top-notch physicians and nurses. The number of ambulatory surgery centers and the overall senior population in North America are rising at record rates, which spurs the use of the home healthcare system. Factors including the widespread use of advanced technologies, the incidence of chronic and lifestyle diseases, rising healthcare costs, physician shortages, and growing customer appetite for better healthcare services all contribute to North America's significant market share globally. Besides, Asia Pacific had a notable share of the market.
The need for home healthcare goods and services is rising due to factors like underdeveloped infrastructure for healthcare, expensive in-hospital healthcare facilities, and chronic conditions that demand long-term care. Corporations are also putting more emphasis on underdeveloped nations like China and India.
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Segmentation of Hospital-At-Home Market-
By Product-
- Mobility care products
- Testing, Screening and Monitoring products
- Therapeutic
By Services
- Hospice & palliative care
- Infusion Therapy
- Pregnancy Therapy
- Rehabilitation Therapy
- Respiratory Therapy
- Skilled Nursing
- Unskilled Care
By Disease Indication-
- Cardiovascular Disorders & Hypertension
- Diabetes
- Respiratory Diseases
- Pregnancy
- Mobility Disorders
- Cancer
- Wound Care
- Other Indications
By Region-
North America-
- The US
- Canada
- Mexico
Europe-
- Germany
- The UK
- France
- Italy
- Spain
- Rest of Europe
Asia-Pacific-
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
Latin America-
- Brazil
- Argentina
- Rest of Latin America
Middle East & Africa-
- GCC Countries
- South Africa
- Rest of Middle East and Africa
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