The Global Home Healthcare Market Share 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.
Segment Analysis of Home Healthcare Market
The smart home healthcare market segment study is based on product, software, and service.
By products, the segments of the home healthcare market study are screening, therapeutic and testing, and monitoring products. The segment of therapeutic and testing is sub-segmented into respiratory therapy equipment, dialysis equipment, insulin delivery devices, IV equipment, and wound care products among others. The segment of monitoring products is sub-segmented into event monitors, holter, sleep apnea monitors, pulse oximeters & heart rate monitors, blood pressure monitors, blood glucose monitors, and cholesterol monitoring devices among others.
By software, the home healthcare market study is segmented into hospice solutions, agency software, telehealth solution, and clinical management systems. The telehealth solution segment can rise at high growth pace over the years to come.
By services, the global home healthcare market is segmented into unskilled care services, skilled nursing services, rehabilitation therapy services, respiratory therapy services, infusion pregnancy care services, and therapy services. The expansion of the respiratory therapy services to support market.
Competitive Landscape of Home Healthcare Market
Some reputed companies that are functioning in the home healthcare market include Abbott (U.S.), Koninklijke Philips N.V. (The Netherlands), Fresenius SE & Co KGaA (Germany), F. Hoffmann-La Roche AG (Switzerland), GE Healthcare (U.S.), A&D Company (Japan), B. Braun Melsungen AG (Germany), McKesson Corporation (U.S.), Omron Corporation (Japan), Becton Dickinson Company (U.S.), LG Electronics (South Korea), Medtronic PLC (U.S.), Apple (U.S.), Kinnser Software (U.S.), and 3M (U.S.) and others. Eminent players are engaged in launching new products and entering partnerships in the global market and to expand their consumer base.
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