Asia-Pacific Home Healthcare Market, By Product Type (Therapeutic, Diagnostic, and Mobility Assist), Indication (Cancer, Respiratory Diseases, Mobility Disorders, Cardiovascular Disorders, Pregnancy, Wound Care, Diabetes, and Other Indications), and Service (Skilled Nursing, Rehabilitation Therapy, Hospice and Palliative Care, Unskilled Care, Respiratory Therapy, Infusion Therapy, and Pregnancy Care) – Industry Trends and Forecast to 2029
Market Analysis and Size
A growing elderly population, as well as an increase in the incidence of target diseases such as dementia and Alzheimer's, as well as orthopaedic ailments, are expected to drive market expansion. Governments and health organisations are concerned about rising treatment costs and are attempting to lower healthcare costs. Home health care is a less costly option than hospitalisation.
Data Bridge Market Research analyses that the home healthcare market which was USD 99,236.36 million in 2021, would rocket up to USD 189193.01 million by 2029, and is expected to undergo a CAGR of 8.4% during the forecast period of 2022 to 2029. The market report curated by the Data Bridge Market Research team includes in-depth expert analysis, patient epidemiology, pipeline analysis, pricing analysis, and regulatory framework.
Market Definition
In home care settings, the home healthcare industry encompasses a wide range of healthcare services for disease. The purpose of home healthcare is to treat injuries and enhance the patient's overall health. These services are more suitable and less expensive, and they are effective for chronic diseases, the elderly, nutrition therapy, and the patient's critical illness.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2019 - 2014)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Type (Therapeutic, Diagnostic, and Mobility Assist), Indication (Cancer, Respiratory Diseases, Mobility Disorders, Cardiovascular Disorders, Pregnancy, Wound Care, Diabetes, and Other Indications), and Service (Skilled Nursing, Rehabilitation Therapy, Hospice and Palliative Care, Unskilled Care, Respiratory Therapy, Infusion Therapy, and Pregnancy Care)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
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Market Players Covered
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Koninklijke Philips N.V. (U.S), Omron Healthcare, Inc. (Japan), Air Liquide (France), B. Braun Melsungen AG (Germany), Medtronic (Ireland), Davita Inc. (U.S), CARDINAL HEALTH (U.S), Sunrise Medical (U.S), General Electric (U.S), A&D Company, Limited (Japan), BAYADA Home Health Care (U.S), Invacare Corporation (U.S), Philips Healthcare (Netherlands), Fresenious SE & Co KGaA (Germany), GE Healthcare (U.K.), Baxter (U.S.), F. Hoffmann-La Roche Ltd (Switzerland), Bupa Home Healthcare, Ltd (U.K.), Healthcare at Home (U.K.), and Linde plc (Germany)
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Market Opportunities
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Home Healthcare Market Dynamics
Drivers
- Rising research and development (R&D) investments
The introduction of newer technologies into this market has significantly increased the current communication flow between patients and healthcare providers, allowing for better, faster, and more effective care. Remote patient monitoring, for example, is based on the successful integration of medical devices and information and communication technology (ICT), as well as the delivery of healthcare over large distances which ultimately drive the market growth.
- Rise in demand for Home Healthcare
This is due to the increased convenience of non-skilled labour, caretakers, services, physicians, and various home healthcare equipment in homecare settings and a growth in healthcare expenditures at hospital premises in the region.
- Rising number of elderly people and technological advancements
Over the last decade, the home healthcare sector has grown significantly. The rising healthcare expense, which has transferred the focus of healthcare from hospitals to the home, has been a major reason for the market's rise. Government initiatives to boost home healthcare are propelling the sector even faster.
Opportunities
The ageing population, as well as the rising prevalence of target diseases such as dementia and Alzheimer's, as well as orthopaedic ailments, are expected to fuel market growth. Governments and health organisations are concerned about rising treatment costs and are attempting to lower healthcare costs. Home health care is a less expensive option than hospitalisation.
Portable gadgets including heart rate monitors, respiratory assistance, and blood glucose monitors have enhanced lifestyle disease home care efficiency and effectiveness. Another important factor influencing the market is value-based healthcare. In most developed and developing countries, the central government provides either partial or entire coverage for in-home services.
Restraints/Challenges
Restraints that are commonly utilised, such as geriatric chairs, belts, bedrails, and other restraints, were used. Patients' freedom of movement was reportedly limited by nurses preventing access to stairs, reorganising portions of the house, putting medication away, turning off the gas, and locking the front door. They also claimed to have locked the patient in a different room on a regular basis. Restraints were used in these situations frequently in home care. According to the nurses, the family frequently administered medication to regulate behaviour (chemical restraint).
This home healthcare market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on the home healthcare market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Home Healthcare Market
As COVID-19 wreaks havoc on healthcare facilities, the need for home-based treatment is growing significantly. The pandemic of COVID-19 has had an uneven impact on the home healthcare business. Blood glucose monitors, blood pressure monitors, pulse oximeters, and temperature monitors are some of the most common home healthcare monitoring equipment. However, many other businesses and service providers have seen a drop in sales as a result of industrial operations ceasing and supply networks being disrupted. However, this slowdown is only projected to last a short time, as the economy gradually recovers following the lockdown. In addition, increased collaboration between service providers is creating lucrative industry growth potential.
Recent Development
- In March 2019, By acquiring HB Healthcare, ResMed solidified its position as the market leader in Korea (HBH). HB Healthcare Safety is a home medical equipment manufacturer established in Korea that provides coaching and technology to patients and healthcare practitioners.
Asia-Pacific Home Healthcare Market Scope
The home healthcare market is segmented on the basis of type, indication and service. The growth amongst these segments will help you analyze meagre growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Type
- Therapeutic
- Diagnostic
- Mobility assist
Indication
- Cancer
- Respiratory Diseases
- Cardiovascular Disorders
- Mobility Disorders
- Wound Care
- Diabetes
- Pregnancy
- Other Indications
Service
- Skilled Nursing
- Rehabilitation Therapy
- Hospice and Palliative Care
- Unskilled Care
- Respiratory Therapy
- Infusion Therapy
- Pregnancy Care
Home Healthcare Market Regional Analysis/Insights
The home healthcare market is analysed and market size insights and trends are provided by country, type, indication and service as referenced above.
The countries covered in the home healthcare market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
Over the forecast period, the Asia Pacific market is expected to grow rapidly. Home healthcare products and services are becoming more popular as a result of factors such as poor healthcare infrastructure, expensive in-hospital healthcare facilities, and chronic conditions that require long-term care.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of Asia-Pacific brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Healthcare Infrastructure growth Installed base and New Technology Penetration
The home healthcare market also provides you with detailed market analysis for every country growth in healthcare expenditure for capital equipment, installed base of different kind of products for home healthcare market, impact of technology using life line curves and changes in healthcare regulatory scenarios and their impact on the home healthcare market. The data is available for historic period 2010-2020.
Competitive Landscape and Home Healthcare Market Share Analysis
The home healthcare market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, Asia-Pacific presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to home healthcare market.
Some of the major players operating in the home healthcare market are:
- Koninklijke Philips N.V. (U.S)
- Omron Healthcare, Inc. (Japan)
- Air Liquide (France)
- B. Braun Melsungen AG (Germany)
- Medtronic (Ireland)
- Davita Inc. (U.S)
- CARDINAL HEALTH (U.S)
- Sunrise Medical (U.S)
- General Electric (U.S)
- A&D Company, Limited (Japan)
- BAYADA Home Health Care (U.S)
- Invacare Corporation (U.S)
- Philips Healthcare (Netherlands)
- Fresenious SE & Co KGaA (Germany)
- GE Healthcare (U.K.)
- Baxter (U.S.)
- F. Hoffmann-La Roche Ltd (Switzerland)
- Bupa Home Healthcare, Ltd (U.K.)
- Healthcare at Home (U.K.)
- Linde plc (Germany)
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