The Growing U.S. Home Healthcare Demand
The Rise of U.S. Home Healthcare
As the U.S. population ages, more Americans are choosing to receive medical care and rehabilitation services in their own homes rather than in hospitals or nursing facilities. The home health care industry has seen tremendous growth in recent years to meet this rising demand. According to industry analysts, total home health care revenues are projected to reach $211.1 billion by 2023. This represents an annual growth rate of over 8% over the next five years. The reasons for this rapid expansion are both demographic and economic.
U.S. Home Healthcare : An Aging Population Drives Growth
Perhaps the biggest driver of growth in home health care is our nation's aging population. U.S. Home Healthcare The number of Americans aged 65 and older is expected to more than double by 2060. As baby boomers transition into retirement and senior living, more will need assistance with daily activities, medical treatments, and recovery from injuries or illnesses.
Home health care allows elderly individuals to receive personalized care in a familiar setting, which many prefer over institutionalized facilities. It helps aging adults maintain independence for as long as safely possible. The large and growing senior demographic is almost guaranteed to increase demand for in-home services in the coming decades.
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