Home Healthcare Market to Witness Increasing Product Launches Even During the Coronavirus Crises; MRFR Releases the Forecast for 2021-2027
Overview
The global home healthcare market will grow at a CAGR of 11.6% during the forecast period 2020 to 2027. The market for home healthcare is set to reach USD 273.9 Billion by 2027. As per market analysts, the global market is anticipated to witness growth owing to the factors such as technological advances in healthcare and diagnosis equipment as well as government initiatives encouraging home healthcare. However, the market will face challenges and restraints due to concerns regarding patient safety and increasing healthcare costs during the forecast period 2020 to 2027.
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The growing geriatric population in the market will support the growth. As per market analysts, the home healthcare market based companies will face certain challenges during the forecast period 2020 to 2027. The market research report provides in-depth analysis of the product, service, software, and region segments. The market research report presents factors such as the rise of IoT that could slow down the market's growth.
Segmental Analysis
The segmental study of the home healthcare market is conducted based on service, software, product, and region. The services segment in the home healthcare market comprises of skilled nursing services, respiratory therapy services, pregnancy care services, rehabilitation therapy services, unqualified care services and infusion therapy services. The products segment in the home healthcare market includes screening, therapeutic and testing, and monitoring products. The software segment in the home healthcare market includes telehealth solutions, agency software, hospice solutions, and clinical management systems. The regions included in the home healthcare market are the Americas, APAC, Europe and other vital regional markets.
Detailed Regional Analysis
Based on territories, the global demand for home healthcare has been subdivided. The above submarkets are the locations where the primary businesses are present in various capacity. As these organizations are engaged in numerous sectors and industries, they facilitate the home healthcare market advance more. Regional home healthcare markets are also having a greater effect on the global home healthcare market. The geographic areas covered by the study are separated into country-based home healthcare submarkets. The insights obtained from the study on the home healthcare market will help home healthcare businesses make significant contribution to economic growth, develop strategic plan, and prepare for new products and services
North America, APAC (Asia-Pacific), Europe, and the Middle East and Africa are the main regional markets and submarkets covered in the study. The home healthcare sector in North America is experiencing healthy growth in the United States, Canada and Mexico. And in Europe's home healthcare market, the main home healthcare marketplaces are countries such as France, the UK, Germany, Spain, Italy, and the rest of Europe
Competitive Analysis
Some companies also provide in-home personal, nursing and respite care for elderly and disabled patients including housekeeping, meal prep, and dietary needs.
The market player, when collaborating ensure to look for a technology partner whose product aligns with their goals to empower caregivers, optimize their time, and enable them to fulfill their inherent desire to make a difference.
They strive to provide exceptional support and develop the mobile solution with electronic documentation and automated workflows that can support a faster documentation completion while delivering care with the highest professional, ethical, and safety standards to the patients.
The industry is transforming rapidly with the technological solutions supported by AI and automation. Home healthcare companies are keeping with the pace by adopting an increasingly digitalized world to remain competitive. With the right technology, home healthcare companies are enhancing their efficiency of processes, in turn improving client and caregiver satisfaction while reducing costs.
Industry/ Innovation/ Related News
June 05, 2018 – Zoctr Health Pvt. Ltd. (India), a start-up allowing users to buy health-related services and home-based wellness packages online, announced that it has raised yet another funding round from Dubai-based NB Ventures Ltd. and Udaipur Angel Network (a host of angel investors). With this round, the total funds raised by Zoctr has crossed US$ 2 Mn.
1 Executive Summary
2 Market Introduction
2.1 Definition 18
2.2 Scope Of The Study 18
2.3 List Of Assumptions 19
2.4 Market Structure 19
2.5 Key Takeaways 20
2.6 Key Buying Criteria 20
3 Research Methodology
3.1 Primary Research Methodology 22
3.2 Secondary Research Methodology 23
3.3 Market Share Analysis 23
3.4 Trade Analysis 23
3.5 Market Pricing Approach 24
4 Market Impact Analysis
4.1 Porter’s Five Force Analysis 26
4.1.1 Bargaining Power Of Buyer 27
4.1.2 Bargaining Power Of Supplier 27
4.1.3 Threat From Substitute 27
4.1.4 Threat From A New Entrant 27
4.1.5 Intensity Of Competitive Rivalry 28
4.2 Value Chain Analysis 28
4.2.1 Device Manufacturers 28
4.2.2 App Developers 28
4.2.3 Network Providers/ Mobile Operators 29
4.2.4 Healthcare Providers And Pharmaceuticals 29
4.2.5 Patients 29
4.3 Pricing Analysis 29
4.3.1 Cost-Effectiveness And Patients’ Convenience Will Drive The Home Healthcare Market 29
4.4 Investment Opportunity Analysis 30
4.4.1 Continuous Increase In Lifestyle Disease Has Led To The Development Of Personalized Healthcare Solutions 30
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