Home Healthcare Market Size

Home Healthcare Market Size

Home Healthcare Market size accounted for USD 262.5 billion in 2022 and is estimated to grow at 7.9% to reach USD 555.6 billion by 2032. Increasing prevalence of target diseases, especially Alzheimer’s & dementia, growing need for cost effective healthcare delivery, and rapid technological advancements are some of the drivers fostering the market growth.

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Additionally, the growing geriatric population is one of the significant factors in driving the market expansion. For instance, according to the World Health Organization (WHO) report, in 2020, the number of people aged 60 years and older outnumbered children younger than 5 years. Between 2015 and 2050, the proportion of the world's population over 60 years will nearly double from 12% to 22%. Therefore, geriatric population are more susceptible to chronic conditions that will necessitate long-term care, will supplementing the market progress. Global pediatric home healthcare industry is estimated to grow at 7.6% CAGR between 2023 and 2032 due to increasing prevalence of chronic ailments among infants.

Home healthcare refers to a range of medical, therapeutic, and support services provided to individuals in the comfort and convenience of their own homes. It involves the delivery of personalized and comprehensive healthcare solutions to patients who may have difficulty accessing traditional healthcare settings due to age, illness, or mobility limitations.