The Home Healthcare Market was estimated to be worth $250.0 billion in 2023 and is poised to reach $383.0 billion by 2028, according to a new report by MarketsandMarkets. The industry is estimated to grow at a CAGR of 8.9% from 2023 to 2028 due to the aging population, rising healthcare expenditures, and the increased need for home care due to technological advancements in home healthcare, according to the report.
Home Healthcare Market Scope:
| Report Coverage | Details |
| Market Revenue in 2023 | $250.0 billion |
| Estimated Value by 2028 | $383.0 billion |
| Growth Rate | Poised to grow at a CAGR of 8.9% |
The therapeutic products segment accounted for the largest share of the home healthcare market, by product segment, in 2022
The home healthcare market is segmented into testing, screening, and monitoring products; therapeutic products; and mobility care products. In 2022, the home healthcare market will be dominated by therapeutic items, primarily because chronic illnesses like diabetes, cancer, and kidney failure are becoming more common.
Infusion therapy services segment secured the highest growth rate during the study period
The home healthcare market on the basis of service is divided into skilled nursing services, rehabilitation therapy services, hospice & palliative care services, unskilled care services, respiratory therapy services, infusion therapy services, and pregnancy care services. Skilled nursing services have the biggest market share for home healthcare in 2022. The industry is expanding due to factors including the aging population.
The other indications segment hold the largest share of the home healthcare, by indication segment, in 2022
On the basis of the indication, the home healthcare market has been segregated into cancer, respiratory diseases, movement disorders, cardiovascular diseases & hypertension, pregnancy, wound care, diabetes, hearing disorders, and other indications. By 2022, the home healthcare market’s greatest share belonged to the other indications category. The growing older population and kidney problems are the main factors propelling this market’s expansion.
North America is the largest regional market for home healthcare market
The global home healthcare market is segmented into four major regions—North America, Europe, the Asia Pacific, and Rest of the World. North America held the biggest market share for home healthcare in 2022. Due to its high disposable income and growing senior population, North America accounts for a sizable portion of the global industry. On the other hand, throughout the course of the forecast period, the Asia Pacific market is anticipated to develop at the highest CAGR. Rising disposable income and government initiatives to promote home healthcare are the main factors driving growth in the Asia Pacific home healthcare industry.
