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Home Healthcare Market Trends

Report ID: GMI5973
Published Date: Jun 2023
Report Format: PDF

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Home Healthcare Market Trends

The growing prevalence of target diseases, particularly Alzheimer's and dementia, is expected to be a significant market growth. As the global population ages and life expectancy increases, there has been a substantial rise in the number of individuals affected by these neurodegenerative conditions. For instance, according to the National Institutes of health (NIH) report, Alzheimer is the sixth-leading cause of death in the U.S. and the fifth-leading cause of death among Americans aged 65 and older. An estimated of 6.2 million Americans aged 65 and older are living with Alzheimer's dementia (AD). This number could grow to 13.8 million by 2060 barring the development of medical breakthroughs to prevent, slow or cure AD. Thus, increasing prevalence of AD is creating a higher demand for specialized care services, including home healthcare to support patients and their families, thereby fostering the market progress.

Authors: Mariam Faizullabhoy, Gauri Wani

Frequently Asked Questions (FAQ) :

Home healthcare market accounted for USD 262.5 billion in 2022 and will cross 7.9% CAGR from 2023 to 2032 to reach USD 555.6 billion by the end of 2032.

Home healthcare services market accounted for a 78.3% share in 2022 as the demand for home-based healthcare services continues to rise, there is a growing necessity for a wide range of specialized services to cater to diverse patient needs.

North America home healthcare market share was 48% in 2022 owing to the sizeable aging population coupled with an advanced healthcare system and relatively high disposable incomes.

3M Healthcare, Amedisys Home Health and Hospice Care, B. Braun Melsungen AG, Becton, Dickinson and Company, Kindred Healthcare, Inc., Addus Homecare, and Home Instead, Inc., among others.